I just renewed my Demat Account and Meroshare from home within a minute. It was very easy to renew both the Meroshare and Demat account without having to go to the bank.
Do you want to Renew your Demat account and Meroshare? You can do it too.
In this article, I am going to show you how to easily renew your Meroshare and Demat accounts.
What is a Demat account?
The term Demat Account (Dematerialized Account) refers to an account where financial instruments, such as equity, debt, and mutual funds, are stored electronically. An electronic form of holding securities and shares is beneficial to investors.
When shares are traded online, they are purchased and sold through the Demat account. Since traders do not have to trade physically, their lives have become so much easier.
It has saved us a significant amount of time and paperwork. Through broker companies, depository banks, merchant banks, or bank capital, you can easily open a Demat account.
Normally, it takes 2-3 days to open an account. You can open your account in a day if you visit the bank capital.
You are ready to go once you open your Demat account. Shares can be bought and sold easily.
What is Meroshare?
Meroshare is an online platform developed by the Central Depository System and Clearing Limited (CDSC) that provides shares trading details online.
To apply for an IPO, you must have a Meroshare account. This saves us from visiting banks and standing in a queue to apply for the IPO.
You can apply for IPO, FPO, Right shares, etc. from anywhere in the world if you have a Meroshare account.
You can visit the bank if you don’t have one. Fill out the Meroshare form and start applying for upcoming IPOs in Nepal.
How to Renew Demat Account and Meroshare in Nepal
Renewal of both a Demat account and a Meroshare is mandatory every year. Your stocks will be frozen if you cannot renew them. You cannot buy or sell shares.
Within a few minutes, you can easily renew both accounts. By using E-Sewa, Khalti, PrabhuPay, and Connect Internet Payment System, they can be renewed.
Either of these mobile wallets is all you need. Despite using all of the wallets mentioned above, eSewa is by far the most popular and easiest way to pay for a renewal..
2 Easiest way of renewing Demat Account and Meroshare
Using Meroshare to Renew
With Meroshare you can simply renew your Demat and Meroshare account, rather than visiting a bank.
To get started, log into your Meroshare account. Then, navigate to your profile which is located at the top right corner of the photo.
After you visit your profile, you can see the renew option there.
Click on the renew option which will instantly take you to the payment.
Now, you can pay with any of the payment methods. I would personally suggest you pay with eSewa as it is easier and quicker.
You can choose accordingly to renew either for meroshare only or demat account only. But it would be best if you renew both of them.
Just select both of them and proceed. Your demat and meroshare accounts are then fully renewed for a year.
Directly Paying Through eSewa App
With eSewa, you can renew both demat and meroshare accounts directly. Ensure your eSewa account is active.
Click on the financial option in eSewa.
Then, it will lead you to other sub-options
By clicking the finance option, you will be brought to broker or bank options instantly.
Depending on where your Demat account was opened, you’ll need to click on the bank or broker you used.
Please click on the Demat Renew/Meroshare Renew option. Just click on proceed after inputting all the necessary details, including your Client ID, and you have renewed your Meroshare and Demat account for another year.
Frequently Asked Questions (FAQ)
How much does the Renewal of the Demat Account and Meroshare Costs?
Well, renewing Meroshare costs 50 rupees, and renewing Demat accounts costs 100 rupees. Account-holders should renew their accounts on time otherwise they might have trouble with their regular trading.
What Happens if we are Unable to Renew our Demat and Meroshare Account on Time?
If we are unable to renew our Demat account, then our stocks will be freeze. Unless we renew our account, we will no longer be able to trade our shares.
Should we Renew our Demat Account and Meroshare Account Every Month?
No, you shouldn’t renew your Demat account on monthly basis. Your Demat should be renewed annually, which is usually at the end of Ashar.
Everybody should renew their accounts in time. It does not cost much and it is really easy to do it with a click.
So, Rather than freezing our stock, we should spend a minute and enjoy daily trading.
As an Investor, it is the worst feeling to see your stock froze, therefore everybody should renew their accounts in time and enjoy investing.
Please leave a comment if you are still unclear about the renewal process.
We will try to reach quickly as possible.