Paytm Money Demat Account Review – Account Opening, Features, Charges, Offers & more
‘Payment through Mobile’ or Paytm is not only limited to online payments or banking but also makes a firm presence in the Indian capital market.
Despite a new entry in the market, the Paytm Money account opening trend has achieved a new milestone, supported by high brokerage income.
Undoubtedly, as a new option in the market, the firm has had a challenging few years before getting clients’ attention.
But it breaks all the ifs and buts in the recent FY23 result and brags a crazy 140% y-o-y brokerage income.
So, you have a Paytm Money Demat account review only for four years, as the brokerage house started only in 2019.
Despite a pandemic during entry-level, the broker has also built a profitable present and promising future.
| Broker Type | Discount Broker |
| Active Demat Accounts | 6 Lakh+ |
| Account Opening Charges | Rs. 200 |
| AMC | Free |
| Free Account Opening | No |
| Free AMC | No |
Paytm Money Demat Account Review by Finec.in
Overall Rating
Account Opening Process
Offers
Charges
Products & Service
Experience
Paytm Money Demat Account – Top Features
A Paytm Money Demat account is a gateway to stock investing and endless opportunities with banking facilities.
Risk-concerned investors have several reasons to open a Paytm Money Demat account; some exclusive benefits are as follows:
- The discount broker keeps investors’ journey cost-effective, offering free AMC and the lowest brokerage in the market.
- Forget any complex symbol; get a simple and intelligent search option.
- Say goodbye to clumsy paperwork and welcome 100% digital KYC with a fast and forward process.
- This broker provides everything under one App to save space and time. Find it all in a single window: advice, analysis, market research, trading, or long-term investing.
- If you are tired of staring at the trading screen the whole day to get the target price, set smart notifications with the target prices and enjoy stress-free trading with sound sleep. Interestingly, traders can set up to 50 notifications as per interest.
- Get a customized screen, create multiple watchlists, and check real-time price fluctuations.
Paytm Money Demat Account Opening Charges
Account Opening Charges
Annual Maintenance Charges (AMC)
DP Charges
Account Closure Charges
Reactivation Charges
Dematerialisation Charges
Call & Trade Charges
Investors are money-minded people. So, they have concerns about Paytm Money AMC cost and other charges. And Paytm understands transparency is a key.
Let’s break down Paytm Money Demat account charges in the simplest terms; mainly, some basic charges are discussed. For more information, refer to their website.
Clients can expect free rent on a virtual platform. Yes! There is no AMC, as Paytm does not clip your wings before riding the market.
Depository Participant (DP) charges are zero to simplify your daily trading journey.
However, DP charges for Delivery Sell Orders demand a charge of ₹13.5 per sell transaction. There are no charges for account closure and reactivation.
Also, to open a Demat account, the individual needs to pay 200 INR.
Check out Business Opportunities with Similar Brands
Paytm Money Demat Account Offers
Free Account Opening
Free AMC
Free Brokerage
Free Research Reports
Free Trading calls
Referral Offers
Paytm Money Demat Account Opening Process – Step by Step
This stock broker allows clients to start with a free Demat account. So, your search for Paytm Money Account Opening ends here.
Before beginning the process, having all documents in ‘Digilocker’ for a quick process is good. At the primary stage, gather all papers like PAN Card, Aadhaar card, and Bank account details.
How to open a Demat account in Paytm Money? – Online Process
Paytm Money Demat account opening is 100% online and paperless. The digital platform starts its primary service with a promise of easy and secure online solutions.
However, aged or non-tech-savvy people can also cope with the digital process. Here is a step-by-step method for how to open a demat account with Paytm Money.
- Do first and hit the “open a demat account” tab below. Once you have clicked the button, a form will open before you. Fill it up, and you will receive a call from the executive for further guidance.
- Once KYC is digitally verified, share your income, marital status, and tax history. Now, you can upload a formal picture of your face. Also, you need to add a personal touch with a digital sign on the App screen.
- In addition, provide your bank details to link with your Demat account. You will receive a confirmation email from the company in a day or two.
How to open a Paytm Money Demat account? – Offline Process
Unfortunately, your search for how to open a Paytm Money Demat account online gives zero results, as the firm only deals with online processes.
It has promised a digital banking, payment, and investment solution from day one.
However, you can check some learning videos of Paytm Money to educate yourself about the online account process.
Eligibility Criteria to Open Paytm Money Account
Nationality
Age
Active Bank Account
Check out Business Opportunities with Similar Brands
Documents required to Open Paytm Money Account
PAN Card Copy
Identity Proof Copy
Address Proof Copy
Bank Account Proof Copy
Copy of Income Proof for F&O
Passport Size Photo
Signature on White Paper
IPV (In-person Verification)
Paytm simplifies the whole process and is reflected in the document submission task. If you are ready to open a Paytm Money account, ensure you have these documents ready with you:
- PAN
- Aadhaar Card
- Bank Details ( Canceled cheque, statement of last three months, and first page of passbook)
How to Close Paytm Money Demat Account?
In the case of a non-traditional and quick method, you can directly email Paytm Money by citing a solid reason for closure.
You may get a customer care call for further confirmation, which will take almost one week to complete.
But in the case of a professional way, clients should download the ‘Account Closure Form’ and fill it out.
Then make a sign and send it to the address mentioned in the form. However, ensure there is no due or pending amount in the account.
Paytm Money Demat Account Review – Conclusion
After getting a green signal from investors and FY23 results, Paytm Money plans to hire 50,000 employees to organize the wealth management segment.
It boasts the confidence of the firm in the Indian securities market. The company’s aim of rapid expansion in the brokerage section in 2024 signifies its serious target of the capital market.
Clients do not need to pay any AMC, but the account charges for 200 INR need to be paid for opening a Paytm Money Demat account.
The fintech giant plans to make revenue with AI automation, promising more accuracy for investors. Soon, the market can see Paytm take over a significant market pie.
FAQs on Paytm Money Demat Account Review
Here is the list of FAQs related to the Paytm Money Demat Account.
How do you create a Demat Account in Paytm Money?
To open a demat account, click on the below button named “open a demat account”. Follow the procedure; your account will be ready in a day or two.
How do you delete a Paytm Money Account?
Download the account closure form from the App or webpage. Fill it and send it to the mentioned address. Also, you can contact them via registered email with a closure request.
Customer care may confirm it from you before closing. Remember to mention a solid reason for closure.
What is AMC in Paytm Money?
There is no AMC for Paytm Money; it supports customer’s liberty and freedom.
What is the Account Opening Fees?
There is no charge for opening an account.
How do you find the demat account number in Paytm Money?
You can find the Demat account number in your App, or you can find it in the confirmation email. In the App case, you can find the ‘My Account’ tab at the top left side. Then click it to get the account number.
How do you get a Statement of Demat Holdings in Paytm Money?
Use the Paytm Money App for this purpose. After logging into your ‘Profile’, find the ‘Account’ option from the menu bar. After that, click the ‘Statements’ section for all reports and papers.
What documents are required to open a demat account?
You need a PAN card, Aadhar Card, Bank details, and Digilocker to open a Demat account in this discount broker.
How long does opening a Demat Account in Paytm Money take?
You can receive the account with login details within one or two days of application.
How do you change your bank account in Paytm Money?
Find the ‘Account’ option at the top left of the Mobile App. Then click the ‘Bank Accounts Linked’ and select the ‘Bank Default’ option. Update your bank details and get confirmation.
How to Transfer shares from one Demat Account to Paytm Money Demat?
Please fill out a DIS slip, sign it, and send it to Paytm Money. After a short review, they transfer it to the depository, which completes the transfer request.