Prabhudas Lilladher Demat Account

prbMany traders and investors have some common queries related to Prabhudas Lilladher Demat Account. So, let’s discuss them today!

But before we jump to Demat account, let’s have a little background of this full-service stockbroker.

This stockbroker was established in 1944 under the leadership of Mr. Prabhudas Lilladher Shethi. The depository participant is considered among the oldest stockbrokers of India.

It facilitates its clients to trade in multiple financial segments like:

• Equity
• Currency
• Commodity
• Mutual Funds
• Derivative
• PMS (Portfolio Management Services)
• IPO
• Real Estate

Prabhudas Lilladher is a SEBI registered stockbroker with a membership of multiple exchanges – NSE, BSE, MCX, and both the depositories – NSDL and CDSL.

Prabhudas Lilladher Demat Account Review

Prabhudas Lilladher is a stockbroker that offers two in one account to its clients, i.e., you can open a demat account and a trading account while registering for one.

This feature adds to the customer experience and fastens the process of commencing your trade with the broker.

Demat account is the one where your securities, bonds, etc are stored. Demat is derived from the word “Dematerialisation”, which is the process to convert your physical shares into digital form.

The trading account is where your funds are stored and you trade with the help of this account.

When you buy or sell a financial security, the changes are first reflected in your trading account and then in the Demat account (after T+2 days).

Prabhudas Lilladher demat account is compatible to trade in equity, commodities, currency, and other financial securities as the broker is a member of various Indian Stock Exchanges.

Moreover, opening a demat account free of cost is an amazing deal.

Now, let’s talk about the features of Prabhudas Lilladher demat account.

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Prabhudas Lilladher Demat Account Features

A Prabhudas Lilladher demat account in itself is very facilitating for the trader or investor. Thus, you must know about the features offered by this stockbroker. Let’s dive in!

• No charges is levied for opening a demat account.
• AMC Charges are less in comparison to its competitors.
• You can open a demat account anywhere, anytime using their official website.
• It offers 2 in 1 account.
• You have the opportunity to dematerialize and rematerialize your shares.
• You can also pledge and unpledged the shares.

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Prabhudas Lilladher Demat Account Opening

Prabhudas Lilladher offers a two in one account, i.e., Demat account and trading account. The stockbroker does not charge you for opening an account but has ₹300 as the Annual Maintenance Charges (AMC).

Prabhudas Lilladher Demat account can be opened either online or offline. To open the account online, you can access their official website.

If you wish to open the account offline, you can either download the form, fill it and submit it to the nearest branch or visit the branch, and the branch executives will guide you with the further process.

To access the account, the broker provides you with a set of credentials that can be used to login to the portal and trade with ease.

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Prabhudas Lilladher Demat Account Opening Online

The process of opening a Prabhudas Lilladher demat account is as follows:

• Go to the official website of Prabhudas Lilladher.
• Look for the ‘Open an Account’ button on the home page. Click on it.
• You’ll be directed to a new page. Enter your Mobile Number for registration.
• An OTP (One Time Password) will be sent to this number.
• Enter this in the box and click on verify.
• Next, you’ll be required to enter your name and email ID. The name is to be same as on you PAN card.
• Check the box for agreeing the Terms & Conditions.
• Click on Register.
• You’ll receive an OTP on the Email ID. Verify it.
• The next step is to enter your PAN card number.
• Select the segment you want to trade.
• To activate the derivatives segment, upload the relevant documents.
• Next, you have to select the relevant brokerage slab and take a look at the Demat charges before you pay them.
• Post the payment for opening the account, you’ll get redirected to Digilocker portal for Aadhar verification.
• Now, enter all the necessary details as required.
• Enter bank details and register your bank account with the stockbroker.
• Make sure all the details you enter are correct.
• Upload the mandatory documents.
• Now, proceed for e-signature of your application.
• As soon as the process is completed, you’ll receive a mail and message for the confirmation. It’ll also contain the credentials to start trading with their apps, like Prabhudas Lilladher Desktop App and many more.
• You are good to go!

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Prabhudas Lilladher Demat Account Form

To facilitate the client, almost every broker offers the traders or investors to open  Demat account in two ways – Online and Offline. The client has the option to choose the one that suits him or her.

The process of opening the account online can be followed by logging onto their official website. Those of you who plan to execute this process offline can download the Demat account opening form here.

Also, you will pay the demat account charges of Prabudas Lilladher in the respective form.

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Prabhudas Lilladher Demat Account Documents Required

Opening a Prabhudas Lilladher Demat account is line with the SEBI requirements. Thus, the documents are same. But for your convenience, the list is as follows:

• PAN Card
• Aadhar Card
• Address Proof
• Income Proof
• Bank Statement
• Signature Image
• Passport Size Photo

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Prabhudas Lilladher Demat Account Charges

For every service provided, a small charge is levied on the clients. On these lines, every broker charges a fixed amount for multiple services related to a Demat account.

The most common services that attract a fee are account opening and annual maintenance. Prabhudas Lilladher Demat account opening charges are zero, and the annual maintenance charges are ₹300.

 

These charges vary for different brokers. Prabhudas Lilladher offers a 2 in 1 account, i.e., Trading account and Demat account in one. This service to provide both these accounts together adds to the customer experience.

Moreover, in comparison to the other full-service brokers, Prabhudas Lilladher brokerage charges are pretty low.

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Prabhudas Lilladher Demat Account Minimum Balance

As per the stockbroker, no minimum balance has been set. But many stock market investors say that atleast ₹10,000 should be deposited in the account to avoid any last minute panics while trading.

This amount is variable as it is not fixed and is solely dependent on the trader or investor.

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Prabhudas Lilladher Demat Account AMC Charges

Since the Prabhudas Lilladher Demat account opens for no charge, it charges an annual maintenance charge, also known as AMC.

Prabhudas Lilladher charges ₹300 as AMC for its two in one account. So, the charge for opening and maintaining your demat and trading account is just ₹300.

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Prabhudas Lilladher Demat Account Login

Having a simple understanding of the Demat Account login page is necessary. This stockbroker offers two login portals.

One is for the back office and funds transfer, and the second is for tracking your portfolio under the portfolio management services.

You can find the button for the login portal on the home page of the official website. Follow these steps:

• In the top right corner, click on PL Client Login.
• You will be redirected to the login page.
• Scroll, and you can find the back office and funds transfer login on the right.
• Enter your credentials and access the two portals.
• If you wish to access the portfolio tracker portal, look for the heading – Portfolio Tracker. The title is on the left of the previous login form.
• Once you click on the heading, you’ll get redirected to a new page.
• Enter your credentials, and you’re good to go.

You can use the same login credentials to access Prabhudas Lilladher mobile app.

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Prabhudas Lilladher Demat Account Closure Forms

The process of closing a Demat account with a particular stockbroker can become a nightmare if you don’t know the procedure or are unable to find the corresponding form.

This process can be carried out only in the offline mode. So, you can initiate the closure of your Demat account by filling the Prabhudas Lilladher demat account closure form and submitting it to the nearest branch.

To ease the process a bit, the broker has uploaded the form on their website. You can access it here.

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Prabhudas Lilladher Demat Account Customer Care

It is wrong to ignore the aspect of queries and doubts in the trading industry. So, if you want to reach out to the broker in the case of any problem, contact on the details below:

 

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Prabhudas Lilladher Demat Account Advantages

Before concluding this article on Prabhudas Lilladher Demat account, we must list the advantages of opening an account with this stockbroker. They are as follows:

• Free account opening.
• Fast and easy account opening process.
• Quick dematerialisation and rematerialisation of shares.
• Facility to pledge and unpledge your shares.
• Low Annual Maintenance Charges
• The services of a full-service stockbroker in the least charges.
• It has low brokerage charges.

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Prabhudas Lilladher Demat Account Disadvantages

As every coin has two sides, even Prabhudas Lilladher Demat account has its disadvantages. They as listed below:

• The trrrading platforms are not so good in comparisonto its competitors. They can do much better in this aspect.
• Although the broker is very old, it is not very popular among the traders and investors. This factor might or might not be significant to the potential clients.
• The customer service falls in the average category.

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Conclusion

Prabhudas Lilladher Trading offers 2 in 1 account, i.e., Demat and trading. Understanding the details of Prabhudas Lilladher demat account is necessary to avoid choosing a broker that doesn’t suit your plans.

Brokers are a huge decision, and taking a wrong call could lead the investor or trader too many problems. Demat account is the first step towards entering the world of trading. So, choose a broker only after you are sure about the specific charges and other aspects.

Prabhudas Lilladher offers its clients the facility to open a demat account either online or offline. It also extends the online portal for accessing your trades quicker and easier.

Merry trading!

Thinking to open a Demat Account? Please refer to the below form

 

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