Motilal Oswal Demat Account Review – Account Opening, Features, Charges, Offers & more

Opening a Motilal Oswal Demat account is a smart choice if you are into trading. The broking house is a renowned name in the market and has worked in the industry for many years.

They have more than 9 lakh active accounts and are transacting regularly. Their Demat account opening process is relatively easy and allows traders to contact them where they assist them at every step.

In this article, we will learn about the Motilal Oswal Account Opening and other vital details related to the company.

Let’s go ahead with the Motilal Oswal Demat Account review.

Motilal Oswal Demat Account: Top Features

Motilal Oswal Demat account is one of the premium accounts with many features. We have listed some of the features here. Have a look:

• Brand allows users to open their accounts with them without paying any opening charges. The annual maintenance charges are also free for the first year. The charges are 300 INR, which needs to be delivered from the second year.
• The traders can look for the investment option per their risk appetite. The company offers investment options in mutual funds, equities, commodities, currencies, etc.
• They offer many trading platforms on the stock exchange, and all are highly advanced. Many types of trading platforms are readily available on laptops, desktops and mobiles.
• Being a full-service broker, the organization has penetrated many remote locations and has more than 9 lakh users.
• The Demat account saves a lot of time and will simplify the process of holding and trading shares. Motilal Oswal account can be linked to the trading account, and a lot of effort and time will be managed effectively.

Motilal Oswal account charges are nil. It makes it easy, especially for beginners, to start working with Motilal Oswal. Also, there are no maintenance charges for the first year.

The user must pay about 300 INR as the Motilal Oswal AMC charges from the second year. If you want to close your account with MO, you must pay 100 INR.

Also, the reactivation charges are 50 INR. The dematerialization charge is 50 INR for every certificate. The DP charge for the organization is 25 INR per scrip for sell.

There are no charges for call and trade. Users should know about these charges before they start working with the broker.

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Motilal Oswal Demat Account Opening Process: Step-by-Step

This account can be opened online and offline. Here is the detailed procedure for Motilal Oswal Demat Account Opening online and offline.

How to Open a Demat Account in Motilal Oswal? – Online Process

Below is the step-by-step procedure on How to Open a Demat Account in Motilal Oswal.

• Click the ‘Open a Demat account’ button on the screen. A form will appear; complete it with the requested details and submit it.
• Expect a call from an executive who will provide a Motilal Oswal EKYC Link. Subsequently, upload the necessary documents for KYC, including a scanned copy of your PAN, AADHAAR, Cancelled Cheque, and photo.
• After document submission, executives will verify the documents, and you will receive login credentials in your registered email.

How to Open a Motilal Oswal Demat Account? – Offline Process

Here are the detailed instructions for the offline procedure for  How to Open a Demat Account in Motilal Oswal.

• You must gather all your documents to start your procedure. The documents like identity proof, address proof, PAN card details, photographs, etc should be kept handy.
• Now, choose the depository participant; it can be a brokerage or bank firm. You can compare and research the charges and services offered by the DPs.
• Pull out an account opening form from the selected DP. The document can be downloaded or collected from the DP directly.
• Complete the form with the details and double-check it before submitting it. Attach the desired documents.
• The user can visit the DPs office and submit the form with the documents.
• The DP will start the personal verification procedure to confirm your identity. It can involve video verification or face-to-face meetings.
• Upon completing the personal verification, the DP will confirm your account and receive your ID or demat account number.

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To open an account with Motilal Oswal, the individual must submit a list of documents to the broker. Here is th list that you can consider for submitting the documents:

• PAN card
• Identity proof card inclusive of Aadhar card, Passport, Licese cards, Voter ID, etc. Submitting any one of them is sufficient.
• Passport size photo
• Signature on the white sheet
• In-person verification
• Bank account proof copy
• Address proof copy
• Income proof copy

How to close a Motilal Oswal Demat account?

There are many reasons for closing your demat account. Whenever you create a Demat account with any stockbroker, you should also know how to delete it.

Here are the steps you should follow to know how to close your Motilal Oswal account.

• Download the “Demat account closure form” from your stock broker’s website or ask them to send the same via email.
• Fill in all the required details accurately & submit it with the required KYC documents.
• You can submit these documents to the nearby branches or courier them to their head office.
• If the account is jointly held, both holders must sign the closure form in the presence of an official from their DP.

Please check out the Demat account before starting the closing process. Your account must not have any shares lying in it.

You must either sell all your shares in the market or transfer them to another demat account.

Motilal Oswal Demat Account Review: Conclusion

Motilal Oswal has been in the industry for decades, making it trustworthy. Their overall rating from Finec.in is over 9, again a positive omen to work with the full-service broker.

The organization offers almost all the products, so users do not need to contact any other broker for a demat account.

The procedures for transferring, deleting and creating a Motilal Oswal demat account are straightforward and have been used by its users for many years.

Within a day, you can have your demat account ready and use it without issues.

FAQs on Motilal Oswal Demat Account Review

Here is the list of FAQs you should know about Motilal Oswal Demat Account.

How do you create a Demat Account in Motilal Oswal?

To start, you can hit the tab at the bottom of the web page, “Open Demat Account”.

Now, please look at the form opened in front of you, fill it out, and submit it. You will receive a call from the executive to guide you now.

How do you delete the Motilal Oswal account?

Anyone needing to delete or close their Motilal Oswal account must complete and submit the account closure form and the KYC documents.

Check for any balance, and the user can send the document to the nearest branch to complete further proceedings.

What is AMC in Motilal Oswal?

There is no AMC for the first year. The user needs to start paying from the second year itself.

What are Motilal Oswal’s Account Opening Fees?

There are no charges intact with the Motilal Oswal demat account. The user can start working with MO without paying any upfront fees.

How do you find the demat account number in Motilal Oswal?

Every demat account is provided with a unique sixteen-digit number. The user receives a letter from the DP with all the requisite information, including the demat account number.

How do you get a Statement of Demat Holdings in Motilal Oswal?

To obtain the Demat account holding statement, navigate to the trading platform or application you utilize. Click on the ‘Portfolio’ tab, and a new window will promptly show all the necessary details.

You can view the total number of holdings, individual holding names, quantities, closing prices, and current values.

Additionally, there are options to download the holding statement in PDF format. Typically, brokers send a demat holding statement to the registered email address every quarter.

What documents are required to open a demat account in Motilal Oswal?

A few documents are needed to open a Demat account, and here they are – a PAN card copy, identity proof, address proof, bank details required, passport-size photo, etc.

How long does opening a Demat Account in Motilal Oswal take?

If applied online, it will take 4 to 5 hours for the users to open a Demat account with the Motilal Oswal.

How do you change your bank account in Motilal Oswal?

When the Motilal Oswal bank account was opened, the bank accounts had to be provided. The bank account is linked with the MO account.

The user can change their bank account anytime by following the steps listed below:

• Start by logging in to your MO app with all of your details provided by the organization.
• Hit your profile’s “transaction details” or “personal details” tab and press the edit option.
• You will be directed to the company’s official website. Now, hit the bank option.
• You can see the list of your existing details of the added banks. Now hit the “Add bank” button and fill in the new bank details.
• Now, you can see new bank details too. The user can choose which bank to keep as the default bank.

How to transfer shares from any Demat account to Motilal Oswal Demat?

Here are the simple steps to transfer shares to Motilal Oswal Demat.

• To Start with, fill up the DIS form & submit it to the broker from where you want to transfer the shares.
• This broker will now submit the Depository Instruction Slip (DIS) to the Depository.
• Then, the depository will start transferring shares from one demat account to Motilal’s demat account.
• Finally, once the transfer is complete, the new demat account will possess all the shares.