Demat A/C

[olasunkanmi]

I'm a 2nd year college student, with around Rs. 10k saved up from parental monthly allowance instead of spending it all. I don't know much about the stock market and it's risk factor which makes the entry to the same a lot risky. However the bond market seems like a good idea, is it?
Moreover, how do I open a Demat A/C?
I have a PAN card, an account in Union bank & Paytm Payments bank but am/was an NRI.

 

[rebeccaw19]

@olasunkanmi Try mutual funds.
Safer alternative to stocks
More returns than fixed deposits

 

[resjudicata]

@rebeccaw19 does one invest in mutual fund on the funds website or is there an aggregator where one can invest in different mutual funds?

 

[rebeccaw19]

@resjudicata Try Coin by Zerodha or PaytmMoney by Paytm

You may also do it through your bank; example you can invest in axis bank blue chip fund through your axis bank account

 

[resjudicata]

@rebeccaw19 cleartax, zerodha, paytmMoney charge brokerage fee?

 

[rebeccaw19]

@resjudicata Paytm money doesn’t charge any money but I guess it sells user statistics

Zerodha coin does charge a fixed fee per transaction I think

 

[ectherapy]

@resjudicata Try Kuvera. I have been using it for quite some time. Happy with the features, customer service, and web interface.
I don't use the app as i don't need the tracking portfolio on the phone nor do i transact every day.

All the funds on the platform are direct (from the AMCs directly, without a distributor commission) and nonDemat.

I recommend choosing an index fund or two. The ones i chose are UTI nifty 50 and next 50.

Key is to save money every month and keep buying every time you save.

All the best.

Edit:

• Kuvera doesn't charge you anything for the platform. So all you pay is the fund expense ratio
• While choosing index funds, definitely look at the AUM, expense ratio.

 

[joel2]

@olasunkanmi You should first do some research on these markets and see what investment is right for you. Then look for some economical low cost broker and open account with them. For a demat acc, normal docs are required like PAN, aadhaar, photo & a canceled cheque.