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
To carter 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 and Other Depository Account.
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 a photocopy of driving license / Election ID Card / passport and your Demat account number will be intimated to you immediately on the completion of processing of your application. PAN Compulsory
Besides, you also get additional benefits designed for your convenience. You will receive Transaction Statements and all other additional statements from time to time. A 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.
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 fee of Rs.15/- for every 100 securities or part thereof (or) 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/-)
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 (at present 12.24%).
The above revision will come into effect from 01.12.2006.
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 be incorporated in the website.
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'.
'Easi' - Electronic Access to Securities Information
This Service enables you to view your holdings and transactions, anywhere, 7days a week, 24 hours a day through CDSL Website www.cdslindia.com
'Easiest' – Electronic Access to Securities Information and Execution of Secured Transactions
This is another facility which permits you to submit debit/credit transaction instructions to effect off market, on market, inter-depository and early pay in transaction. All benefits of 'Easi' are automatically available to a subscriber of 'Easiest'.
Fees
- For 'Easi'
- No Charges
- For 'Easiest'
- 1) Initial Payment of Rs.2,000/- and Rs.1,000/- annual renewal fee
- 2) Rs.1,000/- towards USB device which will be provided by CDSL
To avail the above facility,
You must be a Demat account holder of our AB Demat under CDSL system
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