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How To Open SAMCO Account?
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A Demat Account & a Trading Account are two mandatory SEBI requirements to trade in the Indian Stock Markets. These accounts enhance the security of your capital and also ease the process of trading.
SAMCO securities offer both these accounts to help its customers trade with the best. Undeniably, SAMCO has one of the lowest brokerage charges that make it favorable for a large number of traders.Ā
Also Read: Samco Trading Platform
Talking about opening an account with SAMCO, letās delve into the details.
How to open SAMCO Demat Account?
Opening a Demat Account with SAMCO is easier than making tea. You just need to complete a few steps in less than 15 minutes and BAM! Youāre done. The steps are as follows:
- Visit the SAMCO Website
Open the SAMCO website in your mobile/web browser & click on the āOpen An Accountā tab.Ā
Ā Ā Ā 2. Sign in on the portal
As you click on the tab, youāll be redirected to a page asking for you to enter your Name, E-mail & Mobile Number.
Enter the said details and register on the SAMCO portal for FREE.
Ā Ā Ā 3. Provide KYC Details
The next step to opening an account is to fill in the KYC details.
Here, youāll be asked things like – PAN Number, Address, E-mail ID, Occupation Details, Income, Bank Account Number, Mobile Number, and Nomination Details.
Ā Ā Ā 4. Upload the Documents
A list of documents related to KYC will be uploaded here for verification.
To proceed further, upload all the necessary documents.
Ā Ā Ā 5. Sign the Application
As soon as you complete the above-mentioned steps, youāll be redirected to the UIDAI portal for a digital signature using your Aadhar Card.
After entering your Aadhar Number, an OTP will be sent to you on the registered E-mail & Mobile Number.
Your application will be automatically signed as soon as you enter the OTP.
The credentials for logging into your account will be mailed on the registered E-mail.
The best thing about the SAMCO Demat Account is that you pay nothing to open a Demat Account. Demat accounts are charged with a variety of charges post-opening which are – Stamp Charges ā¹50 (paid upfront), ā¹400+GST as AMC, and ā¹10 on every selling transaction.
How to open SAMCO Trading Account?
The process for opening a trading account at SAMCO Securities is the same as that for a Demat account. SAMCO opens a 3 in 1 account that is Savings, Trading & Demat.
Thus making it easier for its customers to log in with one set of credentials for 3 different accounts.
The only thing different in the case of a trading account is that there are no post-opening charges levied as for a Demat Account.
How to open SAMCO Account Online?
With the digitalization of almost every aspect of our lives, even banks have updated their procedures to enhance the customer experience.
Walking on the same lines, SAMCO, too, offers its customers to open, operate & manage their accounts online.
Once you have opened an account with SAMCO, you can explore SAMCO Products and invest accordingly.
How to open SAMCO Account Offline?
With the accessibility of the internet in almost every nook & corner of the world, the need for offline procedures has reduced to almost zero. But for those who are old-school at heart, SAMCO also offers offline procedures for opening an account.
There are two ways to open a SAMCO account offline:
- Downloading the Form
In this method, you have to download the form for SAMCOās website, fill it manually, self attest all the documents mentioned & post the complete form to the cited address.
Youāll get a confirmation once the form is received at the specified address.
Ā Ā Ā 2. Visiting the SAMCO Mumbai Branch
Those who live in & around Mumbai can easily visit the office & open the account by following simple instructions given by the staff present.
How to open SAMCO Account Joint?
There is no such provision to open a joint account at SAMCO. Although, according to the guidelines of NSDL, a Demat account holder is allowed to add up to 3 nominees. And honestly, it is pretty simple to add a nominee in a demat account.Ā
Samco’s executive shall be able to assist you easily for that.
How to open SAMCO Account Verification?
The verification of the account is completed while opening an account via KYC in SAMCO Securities. No separate verification is required.
Documents Required For SAMCO
The list of documents required to open an account with SAMCO is pre-decided even though the procedure followed to open an account at SAMCO is varied.
The documents are as follows:
- Proof of Address
A long list of documents can be submitted for verification of your address.
- Utility Bills – Electricity, Gas, Land-line (not more than 3 months old)
- Passport/ Voter Identity Card/ Rent Agreement/ Ration Card/ Driving License/ Insurance Copy/ Flat Maintenance Bill/ Sale Agreement of Residence.
- Bank attested Bank Account Statement/ Bank Passbook for the last 3 months.
- An Address Proof issued by anyone of these – Gazetted Officer/ Notary Public/ Managers of Scheduled Co-operative Bank or Scheduled Commercial Banks (SCBs) or Multinational Foreign Banks/ Elected Representative – MLAs or MPs/ Documents issued by any Government or Statutory Authority.
- Address Proof may be accepted in the name of Spouse.
2. Proof of Income – Only for derivative traders
For a trader who wishes to trade in Futures & Options, Proof of Income is mandatory.
Below is the list of documents that are considered as Proof of Income:
- Net Worth Certificate/ Copy of Annual Accounts certified by a Chartered Accountant.
- Submission of Form 16 Net Worth Certificate/ Salary Slip.
- Bank Account statement of the last 6 months stating the income of the customer.
- Copy of Income Tax Return (ITR) submitted to the Income Tax Department.
- A statement of Demat Account holding with a depository participant.
- Other documents are substantiating the assets owned by the client by self-declaration & relevant supporting documents.3. Proof of Identity
- PAN Card
- Aadhar Card (UID) Number/ Voter ID/ Driving License/ Passport.
- Identity Card issued by Central/State Government or their departments or authorities, PSUs, SCBs i.e., Scheduled Commercial Banks, Colleges or Universities, and Recognised Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council, etc.
These ID proofs are accepted as address proof as well if they mention the address.
Ā Ā Ā Ā Ā 4. Proof a Bank Account
- Bank statement of the corresponding bank.
- Canceled Cheque
Once you have opened an account you can do SAMCO Login either on SAMCO Trading Software on desktop or their app and can transfer the money from your trading account through SAMCO Fund Transfer.
Know about SAMCO Bracket Order to reduce the risk in the time of fluctuation of shares.
Conclusion
Becoming a customer at SAMCO Securities is a win-win solution to a lot of problems. Easy account opening procedures, least brokerage, fast KYC approvals & transparent charges (if any).
As investments are a huge step in your life, be vary of what account & broker you choose for facilitating your trade.
Want to open aĀ Demat Account? Please refer to the below form
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