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Nirmal Bang Demat Account
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Want to open a Nirmal Bang Demat Account, then know about the trading services and other features of the account.
Nirmal Bang is a full-service stock broking company which offers its financial services like equities, derivatives, commodities, currency, mutual funds, insurance, depository services, etc. to its retail and institutional clients.Ā
It is an award-winning company and has bagged many awards like MCX Premier League, MCX award, etc. In addition to the brokerage services, Nirmal Bang facilitates trade-in equity, commodity, currency, andĀ derivatives, etc.
Open a Demat Account and Trading Account with the broker to avail its stock trading services.
Nirmal Bang Demat Account Review
Nirmal Bang is a full-service broker and therefore provides many financial services other than stockbroking like advisory services, etc. For the same reason, the charges of Nirmal Bang are a little more than the discount brokers available in India.
Nirmal Bang provides the facility of a 2-in-1 account opening in which you can open a demat as well as a trading account. The demat account offers services to hold stocks, mutual funds, and other investments in one place.
On the other hand, the trading account will enable a client to trade in the securities which are held in the demat account.
Therefore, it is advisable to open both the accounts simultaneously as one without the other is almost useless.
The process of Nirmal Bang demat account opening is very easy and convenient for anyone. In terms of charges for account opening and account maintenance, it is quite competitive.
However, in terms of customer service, the broker has an average standing in the market. There are many advantages as well as disadvantages of opening a Nirmal Bang demat account which will be explained further in the article.
To make a decision whether to go for a Nirmal Bang demat account or not, one should make a comparison of various pros and cons of the same and compare them to one’s own expectations from a demat and trading account.
Nirmal Bang Demat Account Opening
The process of opening the Nirmal Bang demat account is very simple and can be done easily if you have some of your basic documents ready.
A Nirmal Bang demat account can be opened in two ways – online and offline.
For either of the account opening process, it is advisable to gather all the documents required for opening the account. It will prevent you from facing any delay or hassle in opening the account.
Here we go further with the complete process of opening the Account.
Online Process of Opening Nirmal Bang Demat Account
The online process of opening this account will require you to follow some simple steps like the ones mentioned below –
1. There is a Demat account opening form which needs to be filled first with some of the very basic details about the client.
2. Enter the basic details like mobile number, email id, name, etc.
3. Attach the photograph (recent passport size)
4. Upload essential documents like PAN card, Aadhar card, proof of address, bank account statements, signed and canceled cheques.
5. One should also be ready with voter id, driver’s license, electricity bill, etc. In-person verification would be done and the demat account will be opened.
Offline Process of Opening Nirmal Bang Demat Account
Apart from the online process, the broker also offers the offline process to open the account.
For this, you would be required to either download an account opening form from the website or visit one of the branches to get one.
Then, you would need to fill all the details in the form and attach copies of all the documents mentioned above.
When you are done with the form filling, send it to the registered office of the broker or submit it to the nearest branch.
This process is a little less convenient as compared to the online process but works equally well.
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Nirmal Bang Demat Account Login
After the opening of the account, the client would be able to login to the Nirmal Bang Demat account with the help of a username and password given by the company from any device having an internet connection like a mobile phone or a laptop or a computer.Ā
The login credentials include the username and password. You can use the password for the first login and then reset it as per your convenience.
Nirmal Bang Demat Account Opening Charges
As compared to other full-service brokers, Nirmal Bang offers reasonable fees. Also, the AMC charges are quite nominal.
| Nirmal Bang Demat Account Charges | |
| Demat Account opening Charges | Nil |
| Trading Account Opening Charges | Nil |
| AMC Charges | Trading AMC: Nil |
| Demat AMC: ā¹200 | |
| Margin Money | ā¹10,000 minimum |
For the Demat Account, the trader can get the account details without paying any charges. Thus, the broker offers the FreeĀ Demat Account and Trading Account.Ā
The annual maintenance charge for this account is Rs. 200 per year.
The demat charges (market and off-market) of Nirmal Bang are 0.03% with a minimum of Rs. 25 for each debit instruction.
Nirmal Bang Demat Account Closure Form
In case one is not using a Nirmal Bang Demat Account or has decided to open a demat account with another broker, one should make sure to close it as there are annual maintenance charges that need to be paid for each demat account.
If you want to close your Demat Account with Nirmal Bang than making sure that:
- There are no holdings in your account.
- You have clear all the dues before filling the closure form.
Once you meet all the formalities you can process your account closure application. To close the account,Ā you would need to fill an account closure form and submit some documents with it which include your client id.
If the account is in the name of more than one holder, you should make sure that all the account holders have signed the form for the closure of the account. You should also make sure that the KYC details are in alignment with the records.
After submitting the closure form with required documents and reason for the closure of the Nirmal Bang demat account, the procedure will be completed in around 4 – 6 working days.
Nirmal Bang Demat Account Advantages
Nirmal Bang is a full-service stockbroker and provides many quality services to its clients. Let us discuss some of the advantages of opening a Nirmal Bang Demat account.
1. They provide margin trading facilities on their existing Demat accounts.
2. You can avail of all the information on shares, mutual funds, etc in one place.Ā
3. They have a provision of providing a personal accident insurance worth Rs. 5 lakhs with their Demat account (with some terms and conditions)
4. They can also provide an accidental mediclaim of around Rs. 50000 with their Demat account (with specific terms and conditions)
5. Since Nirmal Bang is a full-service broker, it also provides many services like free tips on intraday trades using fundamental analysis as well as technical analysis.
6. If a client has activated the power of attorney, then, no separate DIS slip is required to buy and sell stocks.
Nirmal Bang Demat Account Disadvantages
Since the market is quite competitive, there are a lot of services that are provided by other brokers which Nirmal Bang does not.
Let us discuss some of the disadvantages of having a Nirmal Bang demat account –
1. Many competitor brokers provide 3 – in – 1 account which provide the services of banking, demat and trading account in a single account. This facility is missing from Nirmal Bang.
2. You cannot calculate margin requirements or brokerages charged by Nirmal Bang as there are no available calculators for these for its clients.
3. The number of brokerages is on a higher side as compared to the discount service brokers.
Conclusion
Nirmal Bang is a full-service broker where you can open a 2 – in – 1 account which means a demat as well as a trading account.
Opening a Nirmal Bang demat account is a very simple and hassle-free process that can be done online with the help of some basic personal details, documents like PAN card, Aadhar card, etc. and proofs of address and identity and bank details.
The opening charges of the Nirmal Bang Demat account are nil and the annual maintenance charges are Rs. 200 for every year. Since the broker is a full-service broker, their charges are more as compared to discount brokers.
Also, if due to any reason, an individual needs to close the Demat account with Nirmal Bang, one can easily get it done by submitting the required documents along with an account closure form.
This is necessary to incur the annual maintenance charges of the Demat account with Nirmal Bang.
There are many advantages of opening a Nirmal Bang Demat account like provision of margin facility in existing demat accounts, personal accident insurance, accidental medical.
Also, free tips on trading are provided by the researchers there based on analysis done based on the fundamentals of companies as well as technical charts and indicators.
There are some disadvantages of opening a Nirmal Bang Demat account too, some of which are no facility of 3 – in – 1 account, charges, and costs related to the trading account, etc. Overall, it is an average option to use it for Demat and trading purposes.
Frequently Asked Questions
1. Is it compulsory to have both trading and demat account with Nirmal Bang?
Yes, Nirmal Bang offers the service of 2 – in – 1 account which means both demat and trading account in a single account.
2. Is it possible to open a minor Nirmal Bang demat account?
Yes, but in case of minor there should be legal guardian to complete the process who submit the documents of minor and manages his or her account until the minor turns 18.Ā Know how to open minor demat account and reap the benefits of trading.
3. Is the process of Nirmal Bang demat account opening free of cost?
Yes, there are absolutely no charges for the opening of the demat account. But there is an annual maintenance charge equal to ā¹200, that the account holder has to pay annually.Ā Ā
4. Is it possible to change one’s information in the Nirmal Bang demat account?
Yes, definitely. It is recommended to change your details in the records of the demat account if required. The process of changing one’s basic information like address change or a change in one’s contact number or bank accounts can be completed in 2 ways.
The first one involves going to the nearest Nirmal Bang branch office and get the details updated by providing the required proofs, etc.
The second way is to send an email to them specifying the changes that need to be made in the records. Needless to say, all the documents about the changes would be required to be sent online.
In case you are looking ahead for more assistance, feel free to contact us
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