The DigiDemat and Trading facility are being offered to select, existing customers of the bank, who are in partnership with HDFC Securities. The selected account holders can register through the link shared with them and login to their account.
HDFC Bank Ltd has seen a surge in the number of applicants for its newly-launched Digmat-cum-Trading facility. The bank claims to have secured more than 15,000 customers in the first month of launch, mostly because people are practicing caution to prevent the spread of Covid-19.
The DigiDemat and Trading facility are being offered to select, existing customers of the bank, who are in partnership with HDFC Securities. The Digital Demat and Trading Account facility are available for Indian residents with single owner accounts with HDFC Bank.
S Sampathkumar, Group Head, Liabilities Products, HDFC Bank, said, “This is a complete seamless Digidemat and Trading account for existing customers of HDFC Bank. This will provide an easy and quick way to participate in capital markets by providing a complete online account opening process. It is simple, paperless, quick, and convenient.”
Here is how you can open the HDFC Securities DigiDemat & Trading account:
- The selected account holders can register through the link shared with them and login to their account.
- The selected existing HDFC Bank customers can open a Demat account with HDFC Bank and Trading account with HDFC Securities using their Net-banking credentials.
- Next, the account holders have to complete their basic KYC and setting preferences.
- After that, the account holders will be asked for in-person video verification along with their Aadhaar-enabled e-signature.
- The opening of the Demat account takes about 5 minutes, whereas the opening of the trading account takes about 15 minutes.
- After account approval, the applicant would be able to start investing.
- Account-holders do not need any physical documents for the opening of the account.
Key Features of the Digital Demat account
- The opening of the Demat and trading account is totally paperless and hassle-free
- The turnaround time is improved
- It is convenient for customers
- With this digital account, it enables investments from the safety of the home.