Hi guys! Today we are going to see how you can open a DMAT account. Let’s say you want to invest money in stocks or mutual funds, and you want to know which app to use and how to use it. In today’s article, we’ve got all the answers you need. Now, opening a DMAT account is a piece of cake, just like trading an account on Facebook or Instagram. But before we get into it, what exactly is a DMAT account? A DMAT account is like a digital vault where you can buy and sell stocks in an electronic format, which means you don’t have to worry about keeping physical documents of your investments.
Also, with a DMAT account, you can safely keep track of all the investments you have made. It can be public company stocks or mutual funds. Everything will be stored in one place, so you can easily manage it. Okay, so after watching this video, you will be able to open a DMAT account, and we will also see how you can buy and sell stocks. All you have to do is just enter the name of the stock or mutual fund that you want to buy. Then select it, and here you can see the price of each share. If you click buy, enter the number of shares you want, and again click buy, the stock will be purchased successfully. And it is also easy to sell any stock you have. Just select the stock, click sell, enter the number of shares you want to sell, and if we click sell, you can see that the shares have been sold. It’s that easy. So make sure you watch this video till the end. To open your Demat account, we are going to do five steps. Let’s go to the first step, which is to create your account on Grow. Now Grow is the platform that we are going to use to invest. When there are a lot of apps available to invest our money in, why have we selected Grow? Grow is an easy-to-use platform for both beginners and experts. It’s completely free. There’s no account opening or annual maintenance charge. And it’s very easy to transfer and withdraw your money from GRO. You can even buy US stocks on GRO.
And one more thing: there are 50,000+ Indians who are already using GRO as their investing platform. So to start your investing journey with GRO, just click the link below this video. And it’ll take you to the GRO app on the Google Play Store if you have an Android phone or the App Store if you have an iOS phone. So let’s click install and click open. Now I’m going to sign up with Google and click Continue with Google, enter your email id, click next, now enter your password, and again click next, now enter your mobile number, click on send OTP, and enter the OTP that you have received on your mobile. Now click verify, and your mobile number will be verified. Next, it’ll ask you to enter your PAN card details. So let’s enter our PAN card number, then your name, and once you’ve done that, Now to create your account, just click Create Account, and your account will be created. As you can see, it is asking for more details. Now let’s go to step 2, which is to add your personal details. Now select your gender, and select your marital status, your occupation, and your income. Okay, now choose an option based on your trading experience. I am going to select no experience, then click proceed, and it will ask for your family details. So let’s do that. Then click next. Okay.
Once you’ve added your personal details, we can now go to step three, which is to add your bank account details. Then select your bank. Now enter your branch’s IFSC code. Then select your branch. Now enter your bank account number and click Verified. And you can see that our bank account has been successfully verified. Once your account is verified, you will see this page. Okay. Now, to continue opening our DMAT account, let’s go to step four, which is to do a KYC verification. So first, you need to verify your Aadhaar number. So let’s click proceed for KYC, and it will ask for your confirmation. To check and verify your Aadhaar number from Digilocker, just click on this box and click authenticate Aadhaar. Now enter your Aadhaar number here. Add this text, then click next and enter the OTP, which will be sent to your Aadhaar registered mobile number, so let’s enter that. click continue Now, click allow, and your other number will be verified, and you will be redirected to this page. Okay guys, now for verification purposes, you need to take a live picture of yourself. So just click the camera button and click while using the app. Now take a picture of yourself, and once you’re done, just click. Okay, now you need to provide your signature for verification. So let’s click proceed to signature. Now draw your signature, and once you’re done, just click submit. Now, to complete creating a DMAT account, it will ask you to verify your Aadhaar number. So just click and proceed to Aadhaar e-sign. Then click to proceed to e-sign. Now click sign. And you will get this page. Here, you need to enter your Aadhaar number. So just click on this box. Enter your Aadhaar number. And click on this checkbox. Now click Send OTP. Then here, enter your OTP. And if you click Verify OTP, your KYC details will be successfully verified. Okay, once you’re done, you can now go to the final step, which is to set up your security pin.
So let’s click Explore. Now, to keep your Grow account secure, you need to set up a security pin. So enter the security pin you want, then click confirm, and it will send an OTP to your mobile number. Now enter the OTP here, and if you click confirm, your DMAT account will be successfully Okay guys, once you have created your Demat account, the grow team will manually verify your documents and activate your account. You will have to wait around 2 days for your account to be activated. Once your account is activated, you will get a notification on your Grow app, and you will also receive a text message on your mobile number. So let’s open our mobile phone. Congratulations, guys! You can see that our Demat account has been successfully activated. Now, once your account is activated, you can buy and sell shares on the stock market. So to do that, let’s go to the second part of this tutorial, which is to buy and sell stocks. First, we are going to see how to buy your first stock. So let’s open our Grow app, To buy any shares of a company, just click on the search bar and enter the name of the stock you want to buy. If you don’t know which company stocks you can buy, you can watch this video. Now select the stock, and you will get this page. Here, you can see the price share of this company. To buy the share, just click buy, then enter the number of shares you want to buy. I’m going to enter one share, and here you can see that we don’t have enough money to buy this share. So to buy the shares, you need to add money to your Grow account. So let’s click Add Money. Here, enter the amount you want to add to your Grow account. I’m going to add 250. Now click continue. And here, search for the payment method you want. I’m going to use Google Pay.
So let’s click pay, and again, click pay. Once you have successfully completed your payment, you will be redirected to the Grow app. And here you can see that the amount has been added to our Grow account. To buy the share, just click buy. And now you have successfully purchased your first share. Okay. Now let’s see how you can see the stocks you have purchased. So if you click done, it will take you to your dashboard. Here, you can see the stocks that you have invested in. In the same way, you can buy any number of stocks you want. And it will be shown on your dashboard like this. After a certain number of days, you can see which stocks are in profit and which stocks are in loss and the return amount of your stock. Then here you can see the status of all your stocks combined. Your total invested amount, the current value of your stocks, the total returns, and finally, a day’s return on your stocks. So this is how you can buy stock in a company. Okay, now you know how to buy and check returns on your stocks. Next, let’s say you want to sell your stock. How will you do that? So next, let’s see how you can sell the stocks you have. To sell a stock, just click on the stock you want to sell, then click sell, and here you can see the number of shares you have. Now enter the number of shares you want to sell. I’m going to enter one share. Then, if we click sell, you can see that we have successfully ordered to sell our stock. Okay, now if we click done, you can see that we don’t have the stock that we have ordered to sell. So this means our stock has been successfully sold. And also, if we click on our profile image and click grow balance, here you can see that our stock amount has been added to our grow balance. So this is how you can sell a stock you have; in the same way, you can sell any stock you want. Okay, guys, now you know how to sell the stocks you have. Next, let’s say you want to transfer the amount to your bank account. How will you do that? So next, let’s see how you can transfer the amount to your bank account. If the funds you have in your Grow account have been inactive for 3 months, the amount will be automatically transferred back to your bank account.
Now, if you want to transfer your amount immediately, all you have to do is click withdraw. Here, enter the amount you want to transfer to your bank account. Now enter the grow account security pin, then click proceed, and your amount will be transferred to your bank account. Once the amount is transferred to your account, you will receive a message on your mobile device. Okay, now let’s go back to our growth dashboard. Now, let’s say you have purchased a stock, kept it for multiple days, and now you want to sell it. So, if you select the stock and click sell, enter the number of shares you want to sell, and click verify sell, you can see that it is asking for a T-PIN and OTP verification. For security purposes, this verification is needed to sell your stock. So just click Request a New T-PIN, and then you will get a T-PIN to your mobile number via SMS and email. And you can see that we have the T-PIN message. And here, enter the OTP number, then click verify. And your TP verification has been completed. Next, it will now ask for a notepad verification. And the OTP will be sent to your mobile number and email. Here, enter the OTP number. Finally, if you click verify, you will successfully place the order to sell your stock. Now, if you click done, you will get the dashboard. And here you can see that our stock is not listed in our holdings. So this means we have successfully sold our stock. So this is how you can sell your stock if you keep it for multiple days. Okay, guys, there’s one more important thing that you can do when you create your DMAT account. That is, adding a nominee for your investments. A nominee is a person you can choose to receive your investments on behalf of you in case of an emergency. So to add a nominee, just click on your profile image, then click on your account details. Now scroll down, and you will see this option. So to add your nominee, just click add nominee, now enter your nominee details. So let’s add the nominee’s full name. I’m adding my mother’s name as a nominee. Then click Select Relation Now select your relationship with your nominee. And here comes the nominee’s birthday. Now for identity verification. You need to provide the nominee’s ID number.
So let’s click here. And select an identity proof type. I’m going to choose a voter ID number. Now enter the nominee’s ID number. Now you can also add another nominee by clicking here. Once you’re done, make sure all the details you’ve provided are correct because the nominee details cannot be changed after confirmation. Once the details are confirmed, just click Finish, and your nominee details will be successfully added to your DMAT account. To check it, let’s go back. Now just click on account details, then scroll down. Now, if you click nominee details, you can see that we have successfully added the nominee details to our Groov app. So this is how you can add nominee details: In the same way, you can add more nominees to your DMAT account. Ok, guys, now there is one more detail you need to know. So if we go back to account details and scroll down, here you can see your grow account details, and you can use these details to access your stocks and mutual fund investment information from your demand account.
