HDFC SKY Demat Account Review – Account Opening, Features, Charges, Offers & more

HDFC Sky Demat Account offers the best services to clients. They belong to one of the excellent broker houses. It has many advantages that the user can explore.

They are the bank-based discount broker in the country. The organization offers features like a free demat account, a trading account, and an easy user interface that can be accessed from their mobile app.

The discount broker is easy to notice if you are into trading and want to experience a robust technical platform in a single click.

In this article, we will write about the HDFC Sky demat account review and detail the account opening processes and the associated charges.

HDFC Sky Demat Account: Top Features

An HDFC Sky demat account has many advantages over the conventional HDFC securities account. Here is the list of advantages. Have a look:

• HDFC Sky Account is available for iOS and Android devices. The user can download as per their suitability.
• There is absolutely no downtime with them. Users can focus on their trading without any platform hiccups on signing up.
• Immediate paperless account opening services for clients. No charges are involved, and maintenance for the first year is also zero.
• Research reports and daily tips can be accessed without paying any fee.
• The client can diversify their portfolio by placing basket orders. They can also set many advance orders, such as GTT, cover, bracket, and basket orders.
• Their innovative dashboard can be accessed anytime and shows the clients real-time data.

There are no account opening charges with the discount broker. Also, the HDFC Sky AMC for the first year is waived, and the client must pay 300 INR for the second year.

The DP charges are also 20 INR for every scrip on sale. The user can close their account, and if they wish to reactivate it, the broker does not charge any fee.

Also, the dematerialization charges are 50 INR for every certificate. Also, the Trade and Call charges are 20 INR for every call.

Open Free Demat Account Now!

Invest with Zero Brokerage

Submit

Loading...

Thank you for sharing your details, We will connect with you Shortly!

Check out Business Opportunities with Similar Brands

Zerodha Demat Account

Upstox Demat Account

Groww Demat Account

Angel One Demat Account

ICICI Direct Demat Account

5Paisa Demat Account

Espresso Demat Account

Kotak Securities Demat Account

IIFL Securities Demat Account

Motilal Oswal Demat Account

HDFC Sky Demat Account Opening Process: Step-by-Step

The opening procedure with an HDFC Sky is pretty simple. You need to collect the documents as per the list and provide them.

Upon verification, opening an account will only take two to twenty-four hours. Here, we will consider HDFC Sky Demat Account Opening through online and offline processes to help you.

How to Open a Demat Account in HDFC Sky? – Online Process

The organization allows users to open their accounts without paying any upfront charges. Below are the steps on how to open a Demat account in HDFC Sky.

1. Reach out to the “open Demat Account” button on the web page.
2. A form will open up, fill it up and submit it.
3. An executive will call you and guide you through the further procedure.
4. You will be asked to upload all the listed documents to verify the address and identity proof.
5. Enter your Aadhar number for document upload via Digilocker or choose manual document upload.
6. Complete In-Person Verification (IPV) by taking and uploading a selfie.
7. Provide personal details such as name, occupation, gender, annual income, etc. Link your bank account by adding account details. Specify trading experience and preferred exchanges/segments (BSE and NSE) and select derivatives for trading in equity, commodity, and currency F&O segments.
8. For derivatives trading, upload income proof like salary slips, the past six months’ bank statements, and the latest Income Tax Return. Submit a signature on plain white paper. Now, electronically sign the KYC Registration Agency (KRA) and HDFC Sky Account Opening Form using Aadhar OTP.
9. Congratulations! Your account setup process is complete. Upon activation, you will receive an email with your account user ID and password details.

How to Open a Demat Account in HDFC Sky? – Offline Process

To order to know how to open an HDFC Sky Demat account through offline channels, follow these straightforward steps to begin your investment journey.

1. Visit the nearest HDFC branch or an authorized intermediary.
2. Obtain the account opening form and fill it out with accurate information.
3. Attach the required documents, including identity proof, address proof, and PAN card.
4. Submit the completed form and supporting documents to the branch or authorized intermediary.
5. They will verify and process your application.
6. Upon successful account opening, you will receive your Demat account details, encompassing your client ID and login credentials.
7. With your HDFC Sky account activated, you can begin investing in securities and efficiently manage your portfolio.

Check out Business Opportunities with Similar Brands

Sharekhan Demat Account

SBI Securities Demat Account

Paytm Money Demat Account

HDFC Securities Demat Account

Axis Direct Demat Account

Choice Broking Demat Account

Geojit Demat Account

Nuvama Demat Account

Marketwolf Demat Account

Fyers Demat Account

Open Free Demat Account Now!

Invest with Zero Brokerage

Submit

Loading...

Thank you for sharing your details, We will connect with you Shortly!

Here is the list of documents you must submit to open an HDFC Sky account. Look at the list:

• An Aadhar card is required for identity proof.
• PAN Card
• Bank account details.
• Send a selfie or upload a recent picture for verification.
• Income proof is also needed if you would like to trade in the derivative sector.
• Signature should be provided as per the instruction.

Apart from the above-listed document, you need to e-sign the account opening and KRA submission form with the help of Aadhar-based validation for OTP.

How do I close my HDFC SKY Demat account?

The HDFC Sky demat account can be closed offline as well as online. There can be any reason for the closure, but the process is straightforward.

Here is a quick guide for how to complete your HDFC Sky Demat account.

First, log in to your account and submit your closure request. You need to download the HDFC Sky demat account closure form and fill it out with all the details and the reason for the closure.

Now, sign it up and submit it to the nearest branch. You will receive a call or SMS from the broker shortly to confirm your closure.

Another way is that if you have a beneficiary account, you can fill out the account closure form provided by NSDL and CDSL and mention all the requested information. Once filled out, you can submit it to your nearest branch.

Once you have submitted the e-closure request, your trading account will be closed in T+2 DAYS. Here, the T stands for trading days.

Remember that it will not be completed if there is no balance in the Demat account. If there are pending orders, negative balances or open positions, the closure will seek further guidance and take time.

HDFC Sky Demat Account Review – Conclusion

The HDFC Sky hails from one of the biggest brokerage houses in the country. They do not charge any account opening fee, and AMC for the first year is also nil.

Any user aspiring to start trading can contact the broker and open an HDFC Sky Demat account. There are already more than 50,000 users with demat accounts with the organization, as per Finec.in.

The company has received more than eight ratings in all sectors, which implies that the broker is trustworthy.

FAQs on HDFC Sky Demat Account Review

Here is the list of FAQs you should know about the HDFC Sky Demat account.

How do you create a Demat Account in HDFC Sky?

Click “open Demat account” on the same webpage to create a Demat account. You need to fill out the form and submit it. The company executives will call you and guide you through the further procedure.

How do you delete the HDFC Sky account?

To delete your account, you must log in to your account. And pull out the account closure forms from the same. Fill it up and submit the form to the nearest branch.

What is AMC in HDFC Sky?

The Annual maintenance charges are nil with the company for the first years. The user must pay about 300 INR every year from the second year.

What are HDFC Sky Account Opening Fees?

The stock broker doesn’t charges any account opening fees. Also, the user does not need to pay any fee for AMC for the first year.

How do you find the demat account number in HDFC Sky?

It will entirely depend upon your DP, and you can receive the letter from the CDSL or NSDL.

The Demat account number is a sixteen-digit number. The number format can vary from one Depository firm to another.

If you have received the letter from NDSL, then you can see the alphabets “IN” are mentioned at the start, followed by the fourteen-digit number. If you received the letter from CDSL, it will all be numbers.

But you should know that in all cases, the first eight digits of the Demat’s account number will represent the DP ID, and the remaining eight will refer to the client ID. The client ID is unique for every trader.

How do you get a Statement of Demat Holdings in HDFC Sky?

Downloading the Demat holding statement is relatively easy with the HDFC Sky. The client must log in to his account and look for the “holding statement” tab.

Click on it, and you must mention the term you seek in the statement. And then, you can download the statement.

What documents are required to open a demat account in HDFC Sky?

The documents that are mandatory for an HDFC Sky demat account are Address proof, ID proof, PAN card, passport size photo, signature, etc.

If you are looking forward to opening your account with HDFC Sky, keep these documents ready.

How long does opening a Demat Account in HDFC Sky take?

Once the account is verified and all the documents are in order, opening a Demat account will take two to twenty-four hours.

How do you change your bank account in HDFC Sky?

The user needs to follow an offline procedure for changing his bank details with HDFC Sky:

• They need to visit the official website of HDFC Sky.
• Now, download the account modification form.
• Fill in all the required details and submit it to the broker.

How do you transfer shares from any Demat account to HDFC Sky Demat?

Efficiently transfer shares between Demat accounts with these steps:

• Please complete the DIS (Delivery Instruction Slip) as an investor and submit it to your current broker.
• The broker forwards the DIS form to the Depository for processing.
• The Depository oversees the transfer of your shares to the specified Demat account.
• Once the transfer process concludes, the investor’s new Demat account reflects the updated share details.”