.jpg)
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
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”
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc), you need not undergo the same process again when you approach another intermediary.
Telefax: 0484 2933561
Tariffs of Demat Services
Statutory Charges
at the time of
Account Opening |
Free |
| Advance / Deposit |
NIL |
Account Maintenance
|
Rs.200/- plus GST for other than corporate accounts
|
|
Rs. 1000/- plus GST for Corporate Accounts
|
| Demat |
Rs.75/- plus GST as minimum up to 2 certificates and additional Rs.10/- plus GST for every other |
| Remat |
Rs.10/- plus GST for every 100 securities (max.Rs 5.00 Lakh) or Rs.10/- plus GST per certificate whichever is higher |
| Transaction (Debit) |
Rs.25/- plus GST |
| Pledge Creation |
Rs.100/- plus GST |
| Pledge Creation confirmation |
NIL
|
| Pledge Closure |
Rs.100/- plus GST |
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 GST per SOA |
| MF Redemption |
Rs.25/- plus GST |
HELP US TO REACH YOU
Now opening a Three in One account in South Indian Bank has become more easy. Just provide us with your details and our representatives will be at your doorsteps to help you all the way.
| Procedure for filing complaint on SCORES – Easy & Quick :
a. Register on SCORES portal
b. Mandatory details for filling complaints on SCORES
i. Name, PAN, Address, Mobile Number, E-mail ID
c. Benefits :
i. Effective Communication
ii. Speedy redressal of the grievances
|
Mandatory Updation of KYC Attributes of Demat Account holders
As per CDSL communique no. CDSL/OPS/DP/POLCY/2021/333 dated 29.07.2021, it is mandatory to update all the Demat accounts with the following 6 KYC attributes:-
- Name
- Address
- PAN
- Valid mobile number
- Valid email-id
- Income range
For updating Address/PAN: Submit the duly filled Demat modification form & KYC sheet (hard copy) along with self-attested PAN copy & Address proof and passport size colored photograph to your nearest SIB branch
For updating Mobile no./Email id/Income range: Submit the duly filled Demat modification (hard copy) to your nearest SIB branch
Click here for Demat modification form
Click here for KYC sheet
Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day......................issued in the interest of investors.