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Demat Services

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
    possible earlier

Rajiv Gandhi Equity Savings Scheme (RGESS)

Basic Service Demat Account ( BSDA)

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”

Investor Grievance Mail Id : demat@sib.co.in

Telefax: 0484 2351923

 

 DESIGNATED BRANCHES IN ALPHABETICAL ORDER

Tariffs of Demat Services

Statutory Charges
at the time of
Account Opening
Free--Stamp paper charges to be borne by the customer
Advance / Deposit NIL
Account Maintenance

Rs.200 plus service tax for all BOs. For  Corporate accounts Rs.1000 plus service tax

Demat Rs.75/- plus service tax as minimum upto 2 certificates and  additional Rs.10 for every other certificate.
Remat Rs.100 per request
Transaction (Debit) Rs.25  plus service tax
Pledge Creation Rs.100 plus service tax
Pledge Creation confirmation NIL
Pledge Closure Rs.100 plus service tax
Pledge Closure
confirmation
NIL
Pledge Invocation NIL
Failed instruction charges NIL
Other Charges Actual courier charges
Entry of PAN No Rs.25 each
Destatementisation  Rs 50/-plus service tax per SOA

FORMS :

1.Demat Opening Form for Individuals

2.Demat A/c Opening Form for Other Entities

3.Dematerialisation request

4..Account Details Addition/Modification/Deletion Request Form

5.Mutual Fund Destatementization

 

Rajiv Gandhi Equity Savings Scheme (RGESS)

Scheme was announced in the Union Budget 2012-13. A new section 80CCG on ‘Deduction in respect of investment made under an equity savings scheme’ to give tax benefits upto a maximum of Rs 25,000/- to new investors who invest up to Rs. 50,000 and whose gross total annual income is less than or equal to Rs. 10 lakhs has been introduced. With effective from 1st April 2013, investors with a gross total income of up to Rs.12 lakh can invest in RGESS, from an earlier income limit of Rs.10 lakh. The deduction under the Scheme shall be available to a new retail investor who complies with the conditions of the Scheme.


A “new retail investor” is one who:

  • Has not opened a demat account and has not made any transactions in derivative segment.
  • Has opened a demat account and has not made any transactions in equity segment or derivative segment 
  • Is not the first holder of an existing joint demat account, shall be deemed to have not opened a demat account for the purpose of this scheme. 

Procedures at time of opening demat account:

  • The new retail investor shall open a new demat account or designate his existing demat account for the purpose of availing the benefit under the Scheme. 
  •  The new retail investor shall submit a declaration in Form A to the Depository Participant who will forward the same to the depository for verifying the status of the new retail investor along with demat application form.


Procedure for investment under Scheme:

The new retail investor may make investment in eligible securities in one or more than one transactions during the year in which the deduction has to be claimed. Eligible securities include:

  • Equity Shares in BSE-100 or CNX 100 
  • Equity Shares of Maharatna, Navratna, Miniratna companies 
  • Units of eligible ETFs or MFs 
  • Eligible FPOs & NFOs 
  • IPOs of eligible PSUs etc

 

FORM A

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Basic Service Demat Account ( BSDA)

The facility is provided to all new customers as well as to existing demats customers. Salient features and conditions of the scheme as specified by SEBI are as below:

The scheme can be provided to all individual customers subject to meeting the following conditions:

  • All the individuals who have or propose to have only one demat account where they are the sole or first holder. 
  • The individual shall have only one BSDA in his/her name across all depositories. 
  • Value of securities held in the demat account shall not exceed Rupees Two Lakhs at any point of time. 
  • Individuals having any other demat account/s where they are not the first holder shall be eligible for BSDA in respect of the single demat account where they are sole or first holder.

An individual who wish to open a basic service demat account needs to submit a separate declaration, along with demat application form.

Charge Structure:

The charge structure specified by SEBI is on a slab basis as indicated below: 

  •  No Annual Maintenance Charges (AMC) shall be levied, if the value of holding is upto Rs. 50,000.
  • For the value of holding from Rs 50,001 to Rs 200,000, AMC not exceeding Rs 100 may be charged.

However if at any point of time during the billing period, the value of securities exceeds the above prescribed amount, the account will be treated as normal account and will be charged normal AMC.

BSDA declaration form

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