You need to provide your bank account details when opening a Demat and trading account for seamless fund transfers, including for buying and selling shares, and for receiving dividends or other corporate benefits directly into your account.

Fund Transfers:

Linking your bank account to your Demat and trading accounts facilitates easy and secure fund transfers for buying and selling securities.

Seamless Transactions (3-in-1 accounts):

By providing a Bank Mandate Letter (BML - Click Here to know the process) When you buy shares, the money can be seamlessly debited and credited from your Axxis Bank account.

Corporate Benefits:

Depositories share investor details with issuers/RTAs so they can credit dividends, interest, or other corporate benefits directly to your bank account.

Instant Settlement:

Linking your accounts helps ensure faster and more efficient settlement of trades.

Security:

Providing your bank account details helps enhance the security of your financial transactions and asset holdings.

Mandatory Requirement:

Providing bank account details is a mandatory requirement during the Demat account opening process.

Standing Instructions:

For convenience, you can provide "standing instructions" to your Depository Participant (DP) to automatically credit your Demat account with securities bought.

Avoiding Fraud:

Mentioning the bank account number on dividend warrants and other payments helps avoid any fraudulent misuse.