Motilal Oswal Demat Account

Motilal Oswal, a full-service stockbroker, registered with all the major exchanges in India, provides a seamless way to trade across different segments. To reap the benefit of its trading products and services, you need to sign up with the broker for which here is a complete review of Motilal Oswal demat account.

 

Motilal Oswal Demat Account Review

Motilal Oswal is a Mumbai-based stockbroker established in the year 1987. Being a full service stockbroker, there are more than 2200 local branches spread across 500 different cities.

Since it is registered with all the exchanges you can trade in equity, commodity, currency, IPO, mutual funds, bonds, etc by opening a demat account with the broker. Its multiple products and services have already attracted a lot of customers and currently, the broker has recorded a total client base of more than 9 lakhs.

Some of the major products provided by the broker on opening a demat account are:

• MO Investor mobile app for investment in mutual funds, bonds, IPO, etc.
• MO Trader app for those who want to take different trading positions in the market.
• Advisory products with the complete research reports of the company
• Ready-made portfolio for the beginner investor that helps them to make a risk-free investment in the share market.
• Multiple brokerage plans help in maximizing the profit of traders and investors.

There are many more benefits of Motilal Oswal demat account which we are going to discuss ahead.

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Motilal Oswal Demat Account Opening

Like many other full-service stockbrokers Motilal Oswal also offers a 2-in-1 account. It means you will be able to reap the benefit of both trading and Demat accounts in one fold.

Also, you can open only the trading or a Demat Account with the firm as per your requirement.

Coming back to the Demat Account the broker comes with both online and offline ways to open a demat account. The first and foremost thing that is required to registration is to have all the essential documents required for demat account.

Motilal Oswal Demat Account Documents

To open a Demat Account with any broker, the customer has to submit a few essential documents to validate their information. The most important among them are PAN Card and Aadhar card (linked with your mobile number)

Here is the list of Demat Account documents one must upload or submit along with the application form.

 

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Motilal Oswal Demat Account Opening Online

Motilal Oswal offers a streamlined and 100% paperless account opening process. If all the information and documents are found to be correct, the firm opens the account in just 15 minutes.

To get your account activated in a few minutes, here are some of the steps you need to follow:

• Visit the broker’s website.
• Click on “Open a Demat Account” and enter your mobile number
• Now enter the User ID and password you received in your mobile number.
• Now fill in the required details (PAN card number, Aadhar card details, and DOB).
• Select the trading segment and proceed further by entering your personal details including the Bank Account details.
• Upload the proof of identity and other documents for validation.
• Add the basic details (occupation, income, trading experience, etc). Also, you can add nominee in Motilal Oswal demat account by clicking on “Add Nominee”.
• The window will appear for e-Sign. Enter your Aadhar number and OTP you received on your linked mobile number.
• All the documents and other details will be validated via in-Person verification.
• On validation, the account opening confirmation will be shared on your registered mobile number and email address.

Want to escalate the process of account opening? Get in touch with us now, and we will help you in opening a demat account online for FREE!

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Motilal Oswal Demat Account Opening Form

As mentioned above, that the broker offers you the offline way to open a demat account. So, if you are someone who wants to activate the account services offline, then follow the steps mentioned below:

• Visit the broker’s website.
• Click on “Resume Application” and enter your mobile number
• Now enter the User ID and password you received in your mobile number.
• Download the Motilal Oswal Account Opening form and enter all the details or you can click here to download the account opening form.
• Now sign the form and attach all the essential documents.
• Transfer fund and choose the trading segment
• Select the option of the offline form with the physical signature option.
• Fill in the form, sign it physically, and send it to the Motilal Oswal head office via courier.

Also, you can open your account by visiting the nearest branch of Motilal Oswal. There you can meet the sales executive who will help you in filling the form and meet other account opening requirements.

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Motilal Oswal Demat Account Opening Status

Account opening time differs for both online and offline registration. On one hand, in the online process, you get your account activated in a few minutes but in the offline process takes around 2 days to 7 days for account activation.

In either of the cases, you can check your account opening status easily and track your application. For this, simply click here and add your PAN card details.

From there you can know the status of your account opening application.

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Motilal Oswal Demat Account Charges

The demat account opens a gateway to an investment journey in the stock market. To register for the account, there are some charges that need to be paid to the stockbroker. These fees include:

• Demat Account opening charges
• AMC for Demat Account.

Other than these two charges there are dematerialization, pledge charges, and other fees that need to be paid when you avail of specific services from the stockbroker.

Motilal Oswal Account Opening Charges

As the name depicts, these charges are applicable to register yourself with the stockbroker i.e. at the time of opening an account.  These charges were usually high initially but these days many stockbrokers come up with the benefit of free demat account.

So, like many brokers, Motilal Oswal doesn’t impose any fees for account activation.

Here are the details:

 

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Motilal Oswal Demat Account AMC Charges

Apart from account opening fees, there are charges imposed by the broker to maintain your demat account, called AMC or Annual Maintenance Charges. These charges need to be paid in advance every year.

So, in order to assure better security of the Motilal Oswal demat account, the broker levies the fees of ₹999 per year. However, along with FREE demat account services, it comes up with an offer of waving off first-year AMC fees.

Here are the details:

 

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How to Operate Motilal Oswal Demat Account Online?

Once your demat account is activated, the next question that comes in front is how to operate a demat account. Now, it is pretty simple and you can start your investment simply by downloading Motilal Oswal mobile app from Play Store or App Store.

• After downloading you need to log in to the app.
• Following this, to start trading, add funds to your trading account.
• The trading app provides you the complete detail of the market from where you can get to know the trend and other specific details.
• Analyze the sector and company and place your order using your trading account.
• The shares you bought are then transferred to your demat account after T+2 days.

Here the login step is the most crucial one and hence explained in little detail.

Motilal Oswal Demat Account Login

Once you open the Demat Account with the firm, the Motilal Oswal login credentials will be sent to your registered email address.

The login credentials contain the User ID and password. Now one thing that needs to be considered is that this password is open and hence the broker or any other person having its access can use it to operate your account.

It is therefore important to reset your password after the first login.  Here again, follow the guidelines required to change or reset your password.

The login id and password not only help you to access your account but also opens a gateway for different Motilal Oswal’s trading platforms and apps.

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Motilal Oswal Demat Account Refer and Earn

Not only, you can reap the benefit of trading with the stockbroker but also can earn additional money by registering for the refer and earn demat account program. Wondering what this program is and what benefits you can avail of this.

Well! it is pretty simple. All you have to do is to refer a demat account to your friend or family using the referral code provided by the broker. Once your friend opens a demat account using your code, you can avail instant referral bonus which could be an Amazon voucher or cash payment in your trading account.

Here the only condition is that the referred person must open Motilal Oswal demat account using your referral code and secondly he or she must trade within 1 month of account activation. This make you eligible to gain referral benefits.

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Motilal Oswal Demat Account Customer Care

Motilal Oswal offers complete customer-oriented services and therefore different platforms for its clients to reach the support services.

You can put various queries and account opening doubts by reaching its support services.

Here are some of the ways by which you can contact the support team.

1. Visiting the branch
2. Sending an email at query@motilaloswal.com
3. Calling on the number 91-22-39982515/67490600
4. Using the Chatbot MO Genie
5. Filling a Webform

To avail of the best support services, you can visit us @A Digital Blogger and get a quick response.

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How is Motilal Oswal Demat Account?

Well, every service comes with some pros and cons and so does the Motilal Oswal demat account.

No doubt, the broker claims to offer the best full-service brokerage services by providing research tips, flexibility in brokerage charges, zero account opening fees, etc, but it good to dig a little deeper to know whether it is worthy to open a demat account with Motilal Oswal.

Benefits of Motilal Oswal Demat Account 

Opening a Demat Account with Motilal Oswal offers you innumerable benefits. Some of them are:

• It offers a paperless and secure account opening process.
• The account opens in 15 minutes
• You can open the Demat Account for FREE.
• The trading platform is convenient to use and help you to transfer fund via the online method.
• The trading apps also help you to track real-time investments.
• The broker offers eight different variants of the Demat Account scheme. You can switch between the schemes as per your needs.
• Dividends are credited to your account automatically.

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Motilal Oswal Demat Account Disadvantages

Along with advantages, there are certain drawbacks of opening the Demat Account with the firm. Here are the few listed disadvantages.

1. It does not offer a 3-in-1 account and thus the trader has to open a bank account separately to link with the Demat Account.
2. Compared to other stockbrokers, Motilal Oswal’s brokerage is quite high.
3. Standard account maintenance charges are high which makes this broker more expensive than the rest.

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How to Close Motilal Demat Account?

If you do not use your Motilal Oswal Demat Account for 3 years then as per the SEBI guidelines broker freezes your account. This means you can no longer use your demat account for trading and investment. But still, the broker charges you the AMC charges as discussed above.

To avoid such charges, it is important to close your demat account if you are not using your demat account actively. Like account opening, closing demat account does not impose any fees or charges. But it is important to consider a few important things before filling out the closure form.

• There should be no balance in your account. Pay all the debt before closing the account if there are any dues.
• There should be no shares in your Demat Account. Vacant your account either by selling or by transferring your shares to another active Demat Account.

While the Demat Account opening process is available both online and offline but to close the account, you can only apply via the offline method.

For this, visit the website or click here to download the form. 

• Take a print and fill in the details along with the reason for closing the account.
• Once done either submit it to the nearest branch or send it to the main office via courier.
• On submission, it takes around 7-10 days to close the account.

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Conclusion

Like any other full-service broker, Motilal Oswal has been offering full-fledged broking services to its clients for years. But with the growing discount brokerage firms in the market, it becomes competitive for them to sustain and offer trading services at the least charge.

Although it is a great broker who has earned great fame all throughout the years but with time the attention of traders has been grabbed by most of the top discount brokers of India.

But talking about the reliability and advisory services the firm has no other similar in the queue. Also, the trading platform offers help to traders and help them to make a great investment decision.

You can go ahead with the Demat Account Opening Process with the firm and can gain great trading experience.

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In case you are looking ahead to more assistance, feel free to contact us and get your demat account opened for FREE.

 

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