Depository Services

 Depository Participant (DEMAT Services)

The Depository Service is a facility for holding Securities (tradeable in Stock Exchanges) in electronic form and transactions are processed by book entry. Under the arrangement, the Depository acts as registered owner of the securities in electronic form in the books of issuing company and the client is the beneficial owner. The Depository Participant through whom the Demat accounts are operated acts as an agent of the Depository. The National Securities Depository Ltd. (NSDL) and Central Securities Depository Ltd. are the two recognised Depositories in India.

Allahabad Bank was the first Nationalised bank in Eastern India to launch Depository Participant Services from Kolkata with its own Server attached to the Premier Depository, National Securities Depository Services Limited (NSDL). The Bank is now offering the Depository Services through both NSDL and CDSL.

Inspired by the success of Depository Services in the Kolkata Center, the Bank has extended its Depository Functions through major cities like Lucknow, Varanasi, Kanpur, Mumbai and recently New Delhi was added to its growing list.

The list of locations/branches from which the Depository Services being offered are: -

BENEFITS FROM DEPOSITORY SERVICES

• Dematerialisation i.e. Converting physical certificates to electronic form.

• Rematerialisation i.e., Conversion of securities in demat form into physical certificates.

• Electronic settlement of trades in stock exchanges.

• Pledging / hypothecation.

• Receipt of allotment in the electronic form in public offerings of companies.

• Transmission of securities.

• Stock lending and borrowing.

• Elimination of risks associated with loss, forged transfer, bad delivery, fake certificates etc.

• Reduction in paperwork involved in transfer of securities.

• Instructions over Internet through SPEED-e facility.

• Reduction in transaction cost.

• Account monitoring facility over Internet for clearing members through SPEED-e facility.

Special features of DP Services of Allahabad Bank –
Convert your shares, bonds and other securities to dematerialised form with Allahabad Bank Demat Account and avail the following special services:

• Transaction costs one of the lowest among the Depository Participants.

• Delivery Instructions for Selling and Buying accepted on the same day i.e. on the date of execution up to 4 p.m.

• Special concessions for Investor having large volume of transaction.

• Special concessions for Clearing Members (Brokers) on the transaction charges.

• Personalised Customer Service.

• No Demat charges for shares of Allahabad Bank.

• Telephonic query for up to date holding.

ALLAHABAD BANK
DP Service Charges – For Beneficiary Accounts

Note

1. Annual Membership Fees will be taken upfront in first billing month. Annual Membership Fees will be charged on quarterly pro-rata basis for new clients.

2. Custody Charges will be realized at the end of the financial year. No Minimum or Maximum charges applicable.

3. Charges will be deducted from savings/current account to be opened by depository account holder.

4. All charges are subject to revision as and when decided by the DP.

5. Instructions deemed at Client’s Risk

• Inter-depository transfer on the same day received after 14.00 hours.

• Off-market instruction with request to execute before 10.00 hours on the same day.

• Instructions submitted after 16.00 hours on the previous day of pay-in deadline.

NOTE:

• Postage and other Out of Pocket Expenses to be realized on actual basis over and above the Service Charges

• 'Service Tax' to be levied extra as per circularized instruction.

ALLAHABAD BANK
DP Service Charges - Clearing Members (Broker) Accounts
w.e.f. 01-12-2005

Note