Here is that you need know about demat accounts.
No. Upstox doesn’t have any demat account opening fees.
Once you have opened a demat account, you can then fill up the Demat Request Form (DRF) and submit along with the original share certificate. For every share with a different ISIN or International Securities Identification Number, you will have to fill up a different form. Once the DP verifies your form and the certificate, the stocks will be credited to your demat account.
Yes, you can. You will need to fill in a form called the Delivery Instruction Slip. This mentions your details as well as that of the recipient. This includes: the name of the share, the quantity, the name and ID of the recipient’s depository participant and demat account number. In case, the two demat accounts belong to different depositories – CDSL and NDSL, then you will have to fill in an Inter-Depository Slip.
No. Your demat account need not always have shares and other securities. There is no minimum requirement. That said, irrespective of whether your demat account is active or not, you will have to pay annual maintenance charges.
Yes. When you fill your demat account opening form, you can mention the name and details of your nominee. The account and the shares will automatically pass on to them in case of your demise.
Yes, absolutely. This is called rematerialization. You can request for physical copies. However, this won’t be free of cost. The depository will charge a small amount.
You will need to submit two documents – one as proof of identity and another for your address. This could include all government-approved documents like PAN card, Passport, Voter’s ID, Driver’s license, Ration Card, IT returns, other ID cards issued by central and state governments and departments as well as those issued by professional bodies like ICAI, ICSI, Bar Council, ICWAI and government-affiliated institutions. Apart from these, you can also submit verified or attested copies of electricity and phone bills, bank statements, and housing and rent agreements. If you are a student, you can also give a copy of your college ID card.
Not at all. You can link demat accounts from any DP and depository in India with a trading account. There is no such limitation.
Yes. Whether it is the same DP or different DPs, you can open as many demat accounts as you want. However, for all your accounts, you will have to pass through the verification process and submit proofs of identity and address. Also, you will have to pay charges for all the accounts.
Investors who have been trading since the 90s or earlier may still hold share certificates in physical form. It is about time you get these dematerialised – the process of converting physical forms of shares into electronic format. There are many benefits to the demat account.Here are some.