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DMAT
 

 Welcome to AB Demat


Andhra Bank now offers you the power of the value-added, service-oriented Demat account-AB Demat. Andhra Bank is Depository participant of Central Depository Services Ltd (CDSL). DP ID No: 13040800 and National Securities Depository Services Ltd (NSDL)- DP ID No. IN303204 To cater to your individual needs as diverse as your portfolio, AB Demat will empower you with hassle-free, fast and accurate electronic transactions.

 
 Who can open AB Demat Account ?


An individual, Non-Resident Indian, Foreign Institutional Investor, Foreign National, Corporate, Trusts, Clearing Houses, Financial Institution, Clearing Member, Mutual Funds, Banks. 

 
  The Procedure for Opening AB Demat Account


You just have to fill up an Account Opening Form, submit a photograph of the applicant along with copiesd of address proof i.e. a photocopy of driving license / Election ID Card / passport/Voter Card/Electricity bill( recent) or Telephone bill(land line, not older than 2 months) and Your Bank account statement/Pass Book copy. Your Demat account number will be intimated to you immediately on the completion of processing of your application. PAN Card Compulsory as sole identity proof as per SEBI guidelines.

Besides, you also get additional benefits designed for your convenience. You will receive Transaction Statements and all other additional statements from time to time. Nomination facility, Freezing / Defreezing facility is also available.

Demat Activity include:

  • Opening and maintaining of Demat Accounts

  • Dematerialization

  • Rematerialisation

  • Purchases

  • Sales

  • Pledging and unpledging

  • Safe custody 

 

  Schedule of Charges for opening Demat a/c (Individuals and Corporates)


Sl No Tariff Particulars Revised
1. Agreement charges / Stamp duty Actuals as applicable from state to state as per stamp Duty act. In AP Rs.100/-
2. Account opening/closure Nil
3. Annual Membership charges For Customers: Rs. 300/- (upfront) For Corporates: Rs.750/-
4. Demat Charges Rs 2/- per certificate+mailing charges Rs. 20/- in India and Rs. 500/- for foreign address
5. Remat Charges

a) a fee of Rs.15 for every hundred securities or part thereof subject to maximum fee of Rs. 5,00,000; or
b) a flat fee of Rs.15 per certificate,

Whichever is higher.

However, no fee shall be collected in case of Government securities where rematerilization is used for transfer to other SGL Participant account and units of UTI and other Mutual Funds where rematerilization is used for redemption/repurchase.

6. Transaction Fee
Market Purchase/ Off Market Purchase
Market Sale/ Off Market Sale
Nil

0.04% of market value (per transaction)(minimum of Rs.20/-)
7. Pledge: Creation/ Confirmation/ Closure/ Invocation Rs. 50 /- per instruction
8. Holding statement

Account holders will be provided holding statement free every quarter. If there is a transaction in the account, holding statement will be provided free every month. Any additional statement will be charged Rs.10/- per statement.

The above charges attract service tax as applicable from time to time.

For Staff - No Annual Membership charges.( Other charges as applicable to all with Rs. 100/- towards stamp duty)..

Now we are glad to inform you that :

we are registered with CDSIL for providing 'Easi' & 'Easiest' facility to the Demat Account holders details of which are given below.

To empower you under CDSL system, AB Demat Services is providing 'Easi' and 'Easiest' facility. This is an internet enabled facility which empowers you in managing your securities 'Any time-Any where'.

 
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Waiver of processing charges in Housing Loans, Car Loans, Two wheeler loans, Consumer durables, Clean Loans for the festive season from 25.09.2014 to 31.12.2014

The existing customer grievance redressal mechanism would also cover the complaints relating to outsourcing

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Form 15G/15H has to be submitted afresh at the beginning of each financial year to avail exemption/concession in TDS. Quoting of PAN is mandatory for availing such exemptions/concessions.

All our Banks’ cheques are “payable at par henceforth. We request all our customers to surrender their old cheque books at their account branch and obtain CTS 2010 Standard Cheque books immediately.

We request all our customers who have issued postdated cheques for repayment of loan installments for loans availed by them to replace the old PDCs with new CTS 2010 Standard cheques.

Online Grievance Redressal System with Tracking

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Any customer could walk in to deposit money in any branch of the bank if the account is in any other branch of the bank to which he wants to deposit the money and there will be no charges on this for any amount

Fictitious Offers of Cheap funds from abroad - Awareness Campaign - List of Nodal Agency (Cyber Crime Cell / Economic Offence Wing)

Complain to Local Police/Cyber Crime Authorities against Fictitious Offers of Money from Abroad

PPF and SCSS schemes

Do Not fall Prey to Fictitious Offers of Funds Transfer

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