Depositiry Services

DEPOSITORY PARTICIPANT (DEMAT SERVICES):

ATTENTION INVESTORS

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 NSDL on the same day………….issued in the interest of investors. 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.

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Depository Participant (DEMAT Services) :

The Depository Service is a facility for holding Securities (tradable 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 (India) Ltd. (CDSL) are the two recognized Depositories in India.

Allahabad Bank was the first Nationalized 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.

Bank has providing the Depository services at 10 locations Vis-à-vis. New Delhi, Kolkata, Mumbai, Chennai, Ahmadabad, Surat, Nagpur, Lucknow,Kanpur and Varanasi.

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


Item

Particulars

Target Segment

All Retail Individual Investors.

Eligibility

All the individuals who have or propose to have only one demat account where they are the sole/first holder.
Individuals having any other demat accounts where they are not first/sole holder also eligible to avail the service under Basic Services Demat Account (BSDA).The individual shall have only one BSDA account across all the Depositories.
Value of securities held in the Demat account should not exceed Rupees 2 Lakhs at any Point of Time

Annual Maintenance Charges

Holding upto
Rs. 50,000/-.

Zero Annual Maintenance Charges (AMC) Shall be levied.

Holding between
Rs. 50,000/- to Rs. 2 Lac.

Rs. 100/- Annual Maintenance Charges shall be levied.

Holding above
Rs. 2 Lac

Charges levied as per the regular DP accounts.

The DP will reassess the eligibility of Beneficial Owner (BOs) at the end of the every Billing Cycle and give option to the BO's to avail this facility.

Charges for statements

Electronic statements shall be provided free of Cost.
In case of Physical statements, the DP will provide at least 2 statements free of Cost. For additional DP statements The DP will charges Rs. 25/- per statement.

Others

DP will issue 2 Delivery Instruction Slips at the Time of opening of the DP account.

DP Service Charges - For Beneficiary Accounts

Particulars

Customers

Bank employees/Retired Employees

A/c opening/ A/c closing / Custody charge

Nil

Dematerialization charges

Equity Shares

Rs. 3/- per certificate, minimum Rs. 25 + Mailing Charges (Free for Allahabad Bank shares)

Bonds/ Debentures/ G-Secs /CP

Rs. 50/- per request + Mailing charges

Rematerialization Charges

Rs. 25/- per certificate subject to maximum of 100 shares per certificate for NSDL.

Rs. 100/- per certificate subject to maximum of 100 shares per certificate for CDSL.

Annual Maintenance Charges

First Year for all

Nil

Second Year Onwards

 

For Individuals

Rs. 300/- p.a (up front)

Rs. 150/- p.a (up front)

For Non Individuals

Rs. 500/- p.a (up front) for NSDL

Rs. 1000/- p.a(up front) for CDSL

Transaction Fees: (Per Transaction) (Equity/ Bonds/ Debentures/G-Sec)

-Market/Off Market Transaction (Buy)

Nil

-Market/Off Market Transaction (Sell)

Rs.25/- up to Rs. 1 Lac + Ser. Tax.
Additional Rs.5/- for every Rs.50,000/- + Ser. Tax.

Transaction Fees: (Per Transaction) (Commercial Paper)

-Market/Off Market Transaction (Buy)

Nil

-Market/Off Market Transaction (Sell)

Rs. 1000/- + Ser. Tax

Pledge

Creation

Rs.100/- + Ser. Tax

Closure /Invocation

Rs. 50/-+ Ser. Tax

Miscellaneous Charges

Documentation fee ( During A/c opening)

Nil

Delivery Instruction Book

Rs. 1 Per folio

Additional Statement

Rs. 25/- per statement

Instruction failure charges

Rs. 50/- per Delivery Instruction

Instruction received at Client's Risk***

Rs. 50/- per transaction

Mailing charges & Out of pocket expenses

Actuals

Service Tax

As decided by the Government from time to time

Note :

  1. Custody Charges will be realized at the end of the financial year. No Minimum or Maximum charges applicable.
  2. Charges will be deducted from savings/current account to be opened by depository account holder.
  3. All charges are subject to revision as and when decided by the DP.
  4. 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.
  5. Postage and other Out of Pocket Expenses to be realized on actual basis over and above the Service Charges
  6. 'Service Tax' to be levied extra as per circularized instruction.
  7. Basic Services Demat Account: - If the stock value in the DP account crosses Rs. 2 Lac, the charges will be levied accordingly as per the regular DP accounts.

Rights and Obligations of Beneficial Owner and Depository Participant

Grievance Redressal for Demat Customers

You can also lodge your grievances with SEBI at http://scores.gov.in. For any queries, feedback or assistance, please contact SEBI Office on Toll Free Helpline at 1800 227575 /1800 2667575.