The South Indian Bank is offering Depository services for the benefit of its customers.Through this facility, our customers can hold their securities in electronic form with Central Depository Services (India) Ltd (CDSL).Thus the customers of the bank can now open Demat accounts with us through our Designated branches.
A Demat Acount is an account which holds the Beneficial Owner's (BO's) securities in electronic form. There are many advantages in opening a Demat account and keeping the securities in dematerialised form.
Major advantages are:-
It is a safe and convenient way to hold securities compared to holding securities in physical form.
It eliminates damage,loss,theft and misusage of physical certificate
No stamp duty is levied on transfer of securities held in Demat form.
Change of address,registration of Power of Attorney etc can be effected across
companies by one single instruction to DP.
Shares can be traded and transferred even in single number which was not
We offer the following facilities in a Demat Account
- Dematerialisation, i.e getting physical securities converted into electronic form.
- Rematerialisation i.e getting electronic securities available in BO Account converted back to physical form.
- Maintain record of holdings in the electronic form.
- Settlement of trades by delivering/receiving securities from /in BO Accounts.
- Settlement of Off-market trades i.e transactions between BOs entered outside the Stock Exchange.
- Receiving electronic credit in respect of securities alloted by issuers under IPO, bonus and rights shares etc.
- Destatementisation of mutual funds
For availing “EASI” Electronic Access to Securities Information, where by a demat a/c holder can view his holdings in internet, Log in to www.cdslindia.com register for “ EASI “Submit the form at DP for authorisation
“CDSL SMART” SMS ALERT FACILITY of transactions /bonus/IPO Credits to the beneficial owners mobile.Register with DP using the form provided along with the opening form
How to Open a Demat Account
For opening a Demat account, the customer is requested to collect the prescribed opening form from any of our designated branches. Filled up application forms may be submitted with any of the notified branches convenient to the customer. An agreement is to be executed on requisite stamp paper. Applicant & joint holder/s has to submit in person, self attested copies of the PAN card,Address and Identity proof along with originals for verification, Bank account particulars and cancelled cheque leaf and passport size photograph along with the application.On opening the Account a unique BO ID (Beneficial Owner Identification) Number is alloted.
*IMPORTANT INSTRUCTIONS TO DEMAT ACCOUNT HOLDERS *
Note : As per SEBI rule PAN card copy is mandatory for Demat Accounts from 1st April 2006. For Accounts suspended for Debit for want of PAN Card copy Beneficial owners should submit verified self attested PAN Card copy to DP IMMEDIATELY for defreezing of accounts BENEFICIAL OWNERS ARE REQUESTED TO UPDATE BANK RECORDS WITH DP.
BLANK AND SIGNED DELIVERY INSTRUCTIONS(DIS) SHOULD NOT BE LEFT WITH YOUR BROKER /DP
SUBMIT THE DIS WITHIN THE SPECIFIED TIME(Trading Day+1day before 3.30. pm)TO YOUR DP TO AVOID AUCTION &MONETARY LOSS
PLEASE CHECK NOMINATION IS ENTERED IN YOUR DEMAT ACCOUNT
IF NOMINATION IS NOT REQUIRED SUBMIT THE NOMINATION FORM SIGNED AS “I/WE DO NOT WANT TO NOMINATE”
Telefax: 0484 2351923
Tariffs of Demat Services
at the time of
|Free--Stamp paper charges to be borne by the customer
|Advance / Deposit
Rs.200 plus service tax for all BOs. For Corporate accounts Rs.1000 plus service tax
||Rs.75/- plus service tax as minimum upto 2 certificates and additional Rs.10 for every other certificate.
||Rs.100 per request
||Rs.25 plus service tax
||Rs.100 plus service tax
|Pledge Creation confirmation
||Rs.100 plus service tax
|Failed instruction charges
||Actual courier charges
|Entry of PAN No
||Rs 50/-plus service tax per SOA
1.Demat Opening Form for Individuals
2.Demat A/c Opening Form for Other Entities
4..Account Details Addition/Modification/Deletion Request Form
5.Mutual Fund Destatementization