Sharekhan is one of the best and most trusted providers of mutual funds in India. Though it does not provide direct mutual funds like some of its peers, Sharekhan provides other benefits. It does not charge any brokerage or entry load, and the personal relationship manager assigned provides best and implementable advice. Also, opening a mutual fund account with Sharekhan is almost instant and completely paperless.
Espresso is a discount broker company of Sharekhan, wherein individuals can open a demat and trading account and trade in various financial assets. It provides dynamic alert tools, synchronised watchlists and free scanners.
You can open an account on Espresso's website or their app.
Enter your mobile number and click on "start/resume application".
Enter other basic details.
Upload the relevant documents for proof of identity, address and income.
Post verification of details and documents provided, your account will be activated.
Sharekhan is a full-service broker that provides four kinds of accounts based on your requirements and experience in trading. A separate account is required to be opened if you wish to invest in mutual funds. You can open a demat and trading account, either offline or online and start trading in the various asset classes that the broker provides.
It is not possible for one to open more than one demat account with Sharekhan. One can have more than one demat account.
The section “Withdraw funds” will help you check the amount that can be withdrawn. The espresso website and the app provides a link to request to place a withdrawal request. Your withdrawal request will be accepted subject to certain conditions.
You can open a demat and trading account in 15 minutes by following the below steps.
On the Sharekhan website, you will find a "Open an account" option. Clicking on this will take you to a separate window.
Enter your basic details like name, mobile number, email id, etc.
Upload a few documents for proof of identity, proof of address, proof of income, etc.
The broker will now verify the details and your demat and trading account will be activated.
The free demat account opening scheme is valid for a limited period. The annual maintenance charge is Rs.400 that is payable annually. The company also charges a significant amount for various other services provided.
The opening of an account is absolutely free on Sharekhan. However, an amount of Rs.400 is charged as annual maintenance charge. The brokerage fee depends upon the nature and quantum of each transaction.
Espresso Sharekhan app is an application-based trading platform that provides discount brokerage services. Its unique feature of “Pay Only When You Profit” makes it stand out from its peers.