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Geojit Free Demat Account
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Geojit is among the most renowned full-service brokers in India. The company supported by the giant BNP Paribas counts Geojit free demat account among its finest offerings.
The firm was established in 1987, with its headquarters in Kochi, its physical branches are more than 300 in cities and 21 in states across India.
Opening a demat account with Geojit will reap you the benefit of having access to trade in various investment instruments such as shares, mutual funds, equity, IPO, forex, equity derivatives (f&o), etc.
Other than this with the PNB Demat account, you can reap the benefit of a 3 in 1 account where you can use the Demat services of PNB and trade across segments using the Geojit trading platform.
So, If you’re fiddling with the idea of opening a free demat account or trading account with Geojit, then go on and read this. In this article, we will be covering the associated aspects in detail.
How To Open Geojit Free Demat Account
In order to trade in various segments of the share market, you will have to open a Geojit free demat account. Investors have the choice of opening the account online and offline where they can visit a physical Geojit branch for Geojit Free Demat Account.
Geojit has the distinction of being the first to offer online trading services to its customers. The process follows a few simple steps and needs some documents.
Online Method:-
- For opening a Demat account, visit their website, fill in your name, contact number in the registration form. They will contact you to handle the process further.
- They will require scanned copies of the mandatory documents that are given below in Documents Required For Free Demat Account.
Offline Method:-
In case you want to opt for an offline method, visit a nearby Geojit branch. There you will have to fill the registration form with your required details such as Name, Date of Birth, Gender, Citizenship, etc. the mandatory documents that are given below in Documents Required For Geojit Free Demat Account.
Documents Required For Geojit Free Demat Account
For opening a Geojit free demat account, the single most requisite is PAN Card. So, only those having one can apply. In case, you don’t have a PAN, apply at the earliest.
- A recent passport size photograph
- Identity Proof – PAN Card, Aadhaar Card, Voter ID Card.
- Address Proof – a copy of Driving License, copy of Passport, copy of Voter ID, copy of bank passbook, a verified copy of Electricity Bill, a verified copy of Telephone Bill, copy of Ration Card
- Bank Account Proof – a copy of your bank statement or copy of the first page of bank passbook
Documents Required For Geojit NRI Demat Account
An NRI will be needing the following documents to open a demat account with Geojit.
- Proof of Foreign Address
- Copy of valid visa
- Copy of RBI approval
Geojit Free Demat Account Charges
Geojit offers the option of opening a 2-in-1 account. The account holders will have to pay the following demat account charges:-
- Demat Account Opening Charges – While Geojit doesn’t charge a fee for opening a demat account, it does require payment of ₹425 for opening a trading account.
- Custodian Fees – Geojit demat accounts are exempt from custodian charges.
- Annual Maintenance Charges (AMC) – The Demat account annual maintenance charges for the Geojit demat account are ₹400 for a resident account, ₹1000 for a corporate account, while NRI account holders will have to pay ₹1600.
- Further, Geojit doesn’t charge any Dematerialisation fees but ₹35 as courier charges will have to be paid.
Benefits of Geojit Free Demat Account
Having a Geojit free demat account has many perks. Some of them are enumerated below :
- Reliable – With more than 30 years of experience to show for, Geojit scores big on the trust factor.
- Variety of Investment Products – Geojit allows you the opportunity to trade in equity, IPO, forex, shares, mutual funds, derivatives (f&o), and many other investment products.
- Accessibility – Your Geojit Free Demat Account can be accessed on various platforms, including web, desktop, mobile app or even you can choose the call and trade option.
- Geojit is backed by the heavyweights of the trade, BNP Paribas who currently offer their services in 72 countries around the globe.
- Research Tips – Geojit offers its customers daily research tips through email. They offer all the guidance, recommendations, and effective knowledge of trends in the market.
Disadvantages of Geojit Free Demat Account
There are two sides to every coin. Having talked about the advantages we must analyze the disadvantages as well. Some of the disadvantages of Geojit free demat account are listed below :
- 3-In-1 Account – There is no provision of a 3 in 1 account with Geojit which integrates your bank account, demat account, and trading account all in one.
- High Brokerage Charges – Geojit charges higher brokerage rates as compared to other broker firms.
- Complex Opening Process – Although it looks pretty straightforward on paper but Geojit free demat account opening process for NRIs can turn out to be a tricky one.
Conclusion
Geojit Financial Services Ltd. is one of the oldest stockbrokers in India and among the largest full-service stockbrokers.
Opening a Geojit free demat account requires some documents and NRIs who wish to open a demat account will be requiring separate documents that have been talked about in the article.
Geojit offers a 2-in-1 account that can be opened Online by visiting their website and for the Offline method, you will have to visit their physical branch.
What truly makes Geojit a worthy prospect is their reliability factor. They have been in the trading industry with over 30 years of experience.
On the other hand, Geojit Financial Services charges high brokerage rates.
In the end, we advise you to enlighten yourselves with all the fundamentals, details, charges especially hidden before opening the Demat account.
Interested in opening a Demat account, please refer the below attached form:-
Know more about Geojit Financial Services Ltd.