To open a Paytm Demat Account you do not need to make a lot of efforts. You can simply do it online which spares you from standing in a long waiting queue in the branch of the broker house. These days online and offline account opening has become all the more easy.
Here's the simple account opening process with Paytm, that's quite similar to what you follow with other stock brokers in India.
The detailed Paytm Money Demat account opening procedure is mentioned below:
1.First, you will need to download the app to open a trading and demat account with Paytm.
2.Then you will find an ‘Open Demat Account’ button in the bottom of the page.
3.Once you click, an account opening form will appear immediately on your mobile screen.
4.With all original data you have to fill-up the form and then submit it.
5.After submitting, a broker house executive will contact you and provide you the link of their EKYC completion page.
6.When you follow the EKYC link, you will find the other form and there you will have to input your details of PAN Card number, Aadhaar Card number and date of birth.
7.After submitting, again you will find another form where you will have to enter details of your bank account like IFSC code, branch name, account number, etc.
8.On submitting this form, you will have to scan and upload important documents like a cancelled cheque, a passport-sized photograph, Voter ID Card, Aadhaar Card, PAN Card.
9.After this you have to sign the digital form and this sign can be done online with the help of your Aadhaar Card.
10.Once you sign the form then you will have to pay the account opening charges, easily it can be done online through multiple online payment portals.
11.After paying account opening charges, your demat account will get activated, and you will be able to log in it and start trading.
Almost every broking house levies trading and demat account opening charges on its users, and there are Paytm account opening charges too, but comparatively these seem to be very less.
For opening a demat and trading account, this stock broker levies aPaytm demat account charges of ₹300 and ₹200 for the digital KYC. Thus, you can open an account for a very low cost and enjoy all the brilliant facilities provided by Paytm.
However, you need not maintain any margin value with Paytm, and this proves to be very helpful for the beginners who are starting fresh in this field. The broker house is registered with CDSL and NSDL and provides the facilities of trading shares.
Paytm is the largest mobile wallet company in India. It’s demat and trading account helps traders to trade effortlessly and profitably. This is the main reason that traders might prefer opening a Demat account with this mutual funds and stock broking services provider.
They recently rolled out stock trading services through its application. Apart from this, they already started many other services like Paytm Funds, Paytm Gold Mutual Funds, Paytm NPS, Paytm Mutual Funds, etc. For now, the stock trading option can be accessed only by android users and they are working to allow for iOS users as well. We are certainly going to see a lot of advancements in the range and type of services Paytm Money offers ahead.
Opening an account in Paytm Money is completely free but it only allows you to invest in Mutual Funds. To invest in Stocks, IPO's, etc one needs to open a Demat & Trading account with Paytm, which costs Rs500, which includes an Account opening charge of Rs300 and Rs200 as KYC charges.
No doubt Paytm offers a broad range of services and features in terms of trading options. However, before selecting the platform check out other platforms and compare it in-depth to avail of greater services and features. Zerodha is a strong competitor with its "kite" line of tools to felicitate in trading in the stock market.
You can download the account closure form the given link - Demat Account Closure Form and post it to the address mentioned in the form.
Paytm has added its name to the stockbroking industry all through its new platforms “Paytm Money.” The platform was rolled out to customers earlier in September 2020 and had since then exploded amongst traders/investors to see the offerings set up by the company.
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PayTm is a very user friendly discount brokerage website. It is completely free and has a lot of features which makes the users to use it in the best way which makes their work very easy and balanced. There is a variety of options and its easier to track their money and invest in the best way possible. The process is very fast and concise, the platform being digital, it is also very flexible.