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- What is a demat account?
A Demat account is a necessary account to hold financial securities in a digital form and to trade shares in the share market.
- Can a person have more than one demat account on his name?
Yes, a person can hold more than one Demat Account as long as they are all linked to a single PAN.
- What are the necessary documents required to open a demat account?
You only need to share the following information to open an account: Proof of Identity (PAN Card, Aadhaar, Driving Licence), proof of address, and your bank details.
- What is the eligibility to open a demat account?
Any individual who is a resident of India and 18 years old or above is eligible for opening a demat account, provided he/she has a PAN card
- What are the minimal charges to open a demat account?
JM Financial Services offers you to open a demat account for free. Other charges apply*
- How to open a demat account online?
Visit our website www.jmfinancialservices.in.
Click on ‘Open an Account’.
Enter the mobile number and submit the OTP you received.
Enter the email ID and proceed.
Complete the EKYC (Upload all necessary documents like PAN Card, Aadhar Card, Bank Details etc.)
Add personal details.
After verification perform e-sign in.
Demat account activated.
- What is nomination? Who can be nominated?
Nomination is a facility that enables a depository account holder(s) (individual or joint) to nominate an individual, who can claim the proceeds of the depository account(s) post the demise of the original account holders.
Nominees can be appointed by individuals, holding a demat account either singly or jointly. Non-individuals including society, trust, body corporate, partnership firm, karta of Hindu Undivided Family, holder of power of attorney cannot nominate. Similarly, only an individual can be a nominee, non-individuals cannot.
If your nominee is a minor, you would have to mention the name and address of the guardian as well. The guardian needs to be the parents of the minor else he/she should be as appointed by the court.
If you do not wish to nominate, you need to clearly choose the option in the form at the time on account opening. However, it is advisable to appoint a nominee so that beloved ones do not have to undergo the cumbersome process of transmission in event of death of account holder.
- What is the procedure for nomination of demat account?
You can choose to nominate any person for your demat account, by filing up the nomination details along with the demat account opening form. The nominees are also required to sign and attest their photographs on the form. In case the nominee is a minor, photographs of both the minor as well as the guardian is required. The guardian is also required to sign the nomination form.
If you have not chosen a nominee at the time of your demat account opening or if you wish to change your earlier nomination, you can approach your nearest JMFS outlet, obtain a form and submit it after duly filling-in all the details/requirements.
- What would happen if no one is nominated for a demat account?
In case no one is nominated, the securities would be transmitted post demise of the account holder, to the account of the legal heir(s), as may be determined by an order of the competent court.
However, in case the value of the securities to be transmitted is less than Rs. 5,00,000/- then the same can be processed on the basis of submission of necessary letter of indemnity, surety, affidavits and NOC documents of the legal heir.
- What is a joint demat account?
Just like a joint bank account, a joint demat account is a shared demat account in between two or three individuals. Only one demat account holder is registered as the primary account holder, while the other account holders become secondary account holders.
- Can the demat joint account be operated on "either or survivor" basis?
Unlike your bank account the demat account cannot be operated on "either or survivor" basis. In case there are joint holders, signatures will have to be present on all documentation for carrying our instructions.
Registration Details
JM Financial Services Ltd. | Corporate Identity Number: U67120MH1998PLC115415 | https://www.jmfinancialservices.in Corp. Off.: 5th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025. Tel.: (022) 6704 0404. Fax: (022) 6704 3139 Regd. Off.: 7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025. Tel.: (022) 6630 3030. Fax: (022) 6630 3223 Compliance Officer: Amar Agrawal, Tel: (022) 4505 7165, Email: amar.agrawal@jmfl.com For any grievance you can write email to igra@jmfl.com or you can contact at (022) 5023 7000. Reg. Nos.: Stock Broker - INZ000195834 (NSE Membership No. 10548 | BSE Membership No. 325 | MCX Membership No. 56555 | NCDEX Membership No. 1282) | Depository Participant - IN-DP-541-2020 | PMS - INP000000621 | AMFI - ARN0002 | Investment Adviser - INA000012351 | Research Analyst - INH000001196 | IRDA - Composite Corporate Agent CA0761 (valid till July 1, 2024)
All Products Standard Disclaimer
JM Financial Services Ltd. | Corporate Identity Number: U67120MH1998PLC115415 | https://www.jmfinancialservices.in Corp. Off.: 5th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025. Tel.: (022) 6704 0404. Fax: (022) 6704 3139 Regd. Off.: 7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025. Tel.: (022) 6630 3030. Fax: (022) 6630 3223 Compliance Officer: Amar Agrawal, Tel: (022) 4505 7165, Email: amar.agrawal@jmfl.com For any grievance you can write email to igra@jmfl.com or you can contact at (022) 5023 7000. Reg. Nos.: Stock Broker - INZ000195834 (NSE Membership No. 10548 | BSE Membership No. 325 | MCX Membership No. 56555 | NCDEX Membership No. 1282) | Depository Participant - IN-DP-541-2020 | PMS - INP000000621 | AMFI - ARN0002 | Investment Adviser - INA000012351 | Research Analyst - INH000001196 | IRDA - Composite Corporate Agent CA0761 (valid till July 1, 2024)
All Products Standard Disclaimer
1) Investment in securities market are subject to market risks, read all the related documents carefully before investing.
2) MTF is subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017 and terms and conditions mentioned in rights and obligations statement issued by JM Financial Services Ltd.
3) U.S. Investing is offered through the digital trading platform of Stockal, JM Financial Services (JMFS) is merely referring/introducing the Stockal Platform. Client details will be shared with Stockal with expressed consent from clients. All dealings including KYC will be executed by Stockal directly with client and JMFS will not incur any personal financial liability. This product is governed and regulated by the U.S. Securities and Exchange Commission and exchanges based in Unites States of America. The transactions executed in this product are not governed and regulated by SEBI and the Indian stock exchange and the disputes with respect to the said transactions shall not have access to Indian exchange investor redressal forum or Arbitration mechanism.
4) We are distributor of structured products of various issuers including our group/associate companies.
5) Investment in a Mutual Fund scheme is NOT a DEPOSIT product and is not an obligation of, or guaranteed, or insured by the Mutual Fund or its AMC. Due to the nature of the underlying investments, the returns or the potential returns of a mutual fund product cannot be guaranteed. Historical performance, when presented, is purely for reference purposes and is not a guarantee of future results. Investment in Mutual Funds are subject to market risk. Please read all scheme related documents carefully before investing.
6) Insurance is the subject matter of solicitation.
7) Investment Basket is not an Exchange traded product(s). JMFS is acting as service provider and/or distributor of the said Investment Baskets and only providing platform to access the said Investment Baskets. All disputes with respect to the distribution activity would not have access to Exchange investor redressal forum or its Arbitration mechanism.