Opening a Demat account on Paytm money is super easy. Follow the below steps:
Download the Paytm Money app and log in. If you do not have a Paytm account, you can create one using your email id and mobile number.
Fill in the required details like PAN no., address, annual income, etc., to complete your KYC.
The next step is Stock market Onboarding. Here, you are required to provide your trading preferences and trading experience.
Enter your Aadhar number on the NSDL e-sign portal. Doing this will send an OTP to your registered mobile number. Enter it to verify. This will complete the E-signing on the Account Opening Form.
Paytm Money will now register your details with the depository and exchanges. Once registered, your account will be activated for trading.
Paytm Money uses a fixed, flat-fee brokerage plan. A lower than Rs. 10 or 0.05% of the trade value is charged for equity intraday. For futures, lower of Rs.10 or 0.02% of the trade value and an amount of Rs.10 is charged for options.
When you take the delivery of shares in your demat account, Paytm Money charges Rs.0.01 per executed order.
Yes. You can apply for an IPO on Paytm Money in 3 clicks through their website and app. The process is straightforward and is also free of cost. You can view the past and upcoming IPOs, download offer documents and detailed reports, and change your IPO application.
Opening a Demat account on Paytm Money is absolutely free. The broker does not charge any annual maintenance fees either. However, Rs.200 is charged for opening a trading account with Paytm Money, a one-time payment.
For an intraday of equity, Paytm Money charges a minimum of 0.05% of the turnover (profits earned) or Rs.10 when the shares haven’t been debited or credited in your demat account.
For options, an amount of Rs.10 is charged and for intraday of futures, a lower of 0.02% of the turnover or Rs.10 is charged.
You can check your demat account on Paytm. Log in to the app and you will find a section with “Depository Payments”. You can make all your demat account payments of CDSL from here.
To close your Paytm Demat account the following details must be furnished with the account closure form:
Your ID and your Depository Participant ID.
KYC details like name and address that match with details submitted to Paytm.
The reason for closing the demat account.
Ensure that there are no dues on your account as well as no untraded securities.
A bank employee must mandatorily submit and verify the self-attested identity proof copy.
Paytm Money allows its users to invest their funds in mutual funds. It provides a large variety of options to choose from. Also, no hidden charges are levied, and multiple statements are provided to track your portfolio.
To withdraw money from your Paytm Money account, proceed with the following steps:
Go to the “Accounts” section of the app/website.
Select “Manage Funds” and click “Withdraw Funds”.
Enter the withdrawal amount and choose the bank account where the funds are to be deposited.
The demand charge charged by Paytm Money is Rs.250 per 100 shares. This amount is inclusive of the depository transaction charge.
Yes, Paytm demat accounts are safe as all demat accounts are opened with Central Depository Services Limited(CDSL). Paytm acts as only an intermediary between the customer and the central depository.
The Annual Maintenance Charges (AMC) for both trading and a demat account are absolutely free. You do not have to pay any charges.