Fill the details in the application form, print the form & courier it to us along with the necessary documents which is self attested. Your new account will be processed within 48 hours of us receiving the forms.
An online trading account is an account required to be opened by an investor to trade in the share market.
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PAN, Address proof, cancelled cheque and photos.
Yes, it is mandatory to open a Demat account with trading account
A trading account is used to place buy or sell orders in the stock market. The demat account is used as a bank where shares bought are deposited in, and where shares sold are taken from.
For the purpose of conducting transactions between buyers and sellers the company charges a fee called Brokerage fee. It is based on the percentage of a transaction. SIC Robo charges a flat brokerage fee of Rs. 999 per month with unlimited trades OR 0.25% of the value per trade, whichever chosen by the user
A depository is an organization which holds securities (like shares, debentures, bonds, government securities, mutual fund units etc.) of investors in electronic form at the request of the investors through a registered depository participant. It also provides services related to transactions in securities.
No, you do not have to keep any minimum balance of securities in your account
Power of Attorney (POA) is a document giving legal authority to your stockbroker to operate your account on behalf of you as per instructions contained in it. We use the POA to debit the shares from your demat account and provide it to the exchange, every time you sell shares. Power of attorney is also used to debit shares from your demat account when you intend to pledge them to get collateral margin for trading futures and options.
POA is not a mandatory document. SEBI or exchange does not specify that it is essential for the investors to trade. As an investor, you have the choice to decide whether or not to give it. However, POA is required for smooth functioning of a demat account.
If a POA is not signed by the client, a Delivery Instruction Slip (DIS) can also be issued, which is similar to a bank's cheque leaf that serves as an authority to sell shares/transfer shares from one demat account to another demat account. They are issued by Depository Participants (DPs) when you open a demat account with them. However, DIS is time-consuming.
While issuing a POA, make sure it is in the name of the stock broking firm only and not any individual who act on your behalf. It can be left open-ended since it is specific to your demat account and the powers are clearly mentioned within. You could do it for a limited time-frame but it is not recommended as it limits a service providers’ ability to give you a hassle-free experience.
Minimum of two Instruction slips shall be issued for BSDA.
Yes, if the BO authorizes any person to operate the account by executing a POA and submit it to the DP, that person can operate the account on behalf of the BO.
A Demat Account number is a personal identification number assigned to you by the depository participant with which you have opened an account. In case of CDSL the demat account number is called Beneficiary Owner ID (BO ID). The Demat account number format will vary in format depending on the depository. It is 16 character long identification. In 16 digits, the first 8 digits are the DP ID and the last 8 digits is your Client Code. A Client Code is your identification with the depository participant.
Dematerialization is the process by which your physical certificates are converted to an equivalent number of securities in electronic form.
No, a Demat account cannot be opened with Depository.
Yes. A demat account can be an opened in a single name or in joint holders' name. There can be maximum three account holders i.e. one main holder and two joint holders.
Yes. Demat account can be opened for a minor. The account will be operated by a pre-assigned guardian till the minor comes of age. The appointed guardian has to be the minor’s father or, in his absence, mother. In absence of both the guardian can be appointed by court.
No permission is required from the RBI to open a demat account. However, credits and debits from demat account may require general or specific permissions as the case may be, from designated authorized dealers.
SEBI has mandated that nomination should be recorded for a demat account held by individuals. If nomination is not to be given, then the account holder(s) should give a written and signed declaration to the effect.
Yes. You can open more than one account in the same name with the same DP and also with different DPs. For all the accounts, you have to strictly comply with KYC norms including proof of identity, proof of address requirements as stipulated by SEBI and also provide PAN number. You need to show the original PAN card at the time of opening of demat account.
No, Demat account must be opened in the same ownership pattern in which the securities are held in the physical form. e. g. if one share certificate is in the individual name and another certificate is jointly with somebody, two different accounts would have to be opened.
Bank account details are necessary for the protection of your interest. When any cash or non cash corporate benefits such as rights or bonus or dividend is announced for a particular security, depositories provide its RTA, the details of the investors, their electronic holdings as on record / book closure date for reckoning the entitlement of corporate benefits
Depository does not levy any charge for dematerialization of securities. However, DPs may collect dematerialization charges towards postage / courier charges etc. as per their tariff sheet.
In order to dematerialize physical securities, you will need to fill in a DRF (Demat Request Form) which is available with the DP and submit the same along with physical certificates that are to be dematerialized. Separate DRFs has to be filled for each ISIN. The complete process of dematerialization is outlined below:
• Surrender certificates for dematerialization to your DP
• DP intimates to the Depository regarding the request through the system
• DP submits the certificates to the registrar of the Issuer Company
• Registrar confirms the dematerialization request from depository
• After dematerializing the certificates, Registrar updates accounts and informs depository regarding completion of dematerialization
• Depository updates its accounts and informs the DP
• DP updates your the demat account
Only an individual can be a nominee. A nominee shall not be a society, Trust, Body co-operate, Partnership firm, Karta of HUF or a POA holder.
Nominations can only be made by Individuals holding beneficial account either singly or jointly. Non-Individuals including society, trust, body corporate, Karta of HUF, holder of POA cannot nominate.
For the purpose of smooth transmission of shares upon the death of the BO/s nomination is necessary.
Yes, a nominee can be changed as per the BO'S desire
Market Trade is the trade settled through clearing corporation that is through stock brokers on a stock exchange. Off Market Trade is one which is settled directly between two parties without the involvement of clearing corporation.
Duly filled-in nomination form should be submitted to the branch DP at the time of account opening. Signature from account holder, nominee and two witnesses is required.
The process of dematerialization will take 30days.
Yes, the dematerialized securities can be pledged
Yes, you can change the securities offered in a pledge
Dematerialized shares do not have any distinctive numbers. These shares are fungible, which means that all the holdings of a particular security will be identical and interchangeable.
No, for depository account the name of account holders cannot be changed.
Yes, you can open more than one account with the same DP. There is no restriction on the number of accounts you can open with a DP.