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A Demat account is a virtual locker where your stocks and bonds are stored in electronic form, instead of the traditional paper form. You require a Demat account because it is mandatory for trading on stock exchanges in India, and it helps you keep your investments safe.

The demat account is only utilised for holding your securities, and it works like a storage vault for your assets. The trading account is utilised for buying and selling securities on the stock market.

Any Indian resident, whether minor (with guardian) or otherwise, can open a demat account to begin investing. NRIs are also allowed to open demat accounts, but only after following certain FEMA regulations and using NRI bank accounts. Even corporations, registered societies, and trusts can open demat accounts.

For opening a demat account, you will require Proof of Identity (PAN Card) and Proof of Address (Aadhaar Card, Voter ID Card, or Passport). Additionally, you will require a cancelled cheque or bank statement for connecting your bank account for fund transfer purposes, and a passport-sized photograph for the e-KYC process.

On BlinkX, there are no account opening charges or AMC applicable.