Bajaj Finserv Demat Account Opening

How complicated is the Bajaj Finserv Demat Account Opening process? Is it for free, or will I be charged a big sum? It’s natural to have such queries about a broker that follows a Hybrid model.

Needless to say, Bajaj Finserv is a respectable name in the stockbroking world. Even then, new customers or interested traders always make sure that they know beforehand as much detail as possible.

Therefore, we will not waste any more moments and jump straight into the answers to the queries.

Bajaj Finserv Demat Account Opening Process

We have come up with a step by step guide to explain the Bajaj Finserv Demat account opening process. Just go through this easy to follow the procedure:

Step 1: 

Visit the Account Opening Form and fill up the details like mobile number and email ID.

Step 2: 

Next, enter your PAN Number and other basic details like bank account number and an address.

Step 3: 

This step is about KYC hence you’ll have to upload scanned docs like income proof, photographs etc.

Step 4: 

To complete In-Person Verification (IPV) you have to record a selfie video of 30 seconds in which you have to read out the PAN details and other documents loud and clear.

Step 5:  

This step requires you to upload your signature as an e-sign form where you’ll also enter your Aadhaar linked mobile number.

Step 6: 

At the final step, review your application one last time before submission.

Bajaj Finserv Demat Account Opening Documents

As you might have noticed in the above guide, to open a Bajaj Finserv Demat Account certain documents are required. To open a demat account with any broker, the verification documents will more or less remain the same.

Here’s a complete list of the documents required to open a demat account. 

• PAN card
• Adhaar card or Driving License or Voter ID or Passport (Address Proof)
• Ration Card
• Bank Statement
• Passport Size Photograph

And if you wish to trade in derivatives then you will also need an income proof document such as the Bank statement, Net-worth certificate, Salary slips, ITR statement, Demat holding statement or holding report.

Bajaj Finserv Demat Account Opening Charges

It will be wise to know the details of the Bajaj FInserv Demat Account Opening charges before jumping to the step-by-step opening process. 

 

Well, as you can see, there is no charge to be paid. Hence even if you aren’t sure about this broker, it won’t put you in any kind of jeopardy to open a free of cost Demat Account.

As we said earlier, now will be the apt time to illustrate the account opening process.

Bajaj Finserv Annual Maintenance Charges

Basically, Bajaj Finserv AMC will depend upon the subscription package you choose. But keeping these packs or plans aside, Bajaj Finserv normally charges a fixed AMC as mentioned in the below table.

 

Obviously, many new traders will find this AMC a bit excessive. Perhaps, that is the reason Bajaj Finserv has come up with three subscription plans. In addition to affordable AMC, these plans also feature lower brokerage and other taxes.

 

As you would have figured out by now if you subscribe to any of these plans you wouldn’t have to pay any AMC. Especially with the Freedom Plan, you don’t have to pay anything at all for the first year. By the way, it makes total sense for you to check out all sorts of Bajaj Finserv Brokerage charges before you go ahead and pick this stockbroker.

So, it will be wise to just pick up a subscription plan and do away with the basic high fixed rate AMC.

Bajaj Finserv Demat Account Opening Offline

It’s entirely up to you to either open a demat account online as explained in the above section, or you can complete the Bajaj Finserv account opening offline. How? Simply visit the nearest branch of Bajaj Finserv. Yes! It’s that easy.

Remember that you will require all these documents as mentioned above to open an offline account. So make sure that you carry these documents along.

A small piece of advice, to speed up the offline process, is that you can download the account opening form from the official website of Bajaj Finserv and fill it up before visiting a branch.

Bajaj Finserv Demat Account Opening Time

Enough about how to apply for a demat account, shouldn’t you also check when exactly will you be able to access your account and trade. For this, we observed closely, the Bajaj Finserv demat account opening time period.

It has been found that the Bajaj Finserv Demat Account becomes accessible only after 2-3 hours of application submission, provided that the documents attached or uploaded online are verifiable and authentic.

This also means that on successfully completing the online account opening procedure, you can start trading on the same day as well.

Conclusion:

There is no doubt that the Bajaj Finserv Demat account opening is a cakewalk. And the fact that it’s totally free to open an account just is like a cherry on top.

But you have to look beyond the account opening and charges to evaluate the worth of Bajaj Finserv. More precisely, you should also consider with care the brokerage plan before you make up your mind about this Hybrid broker.

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