Name of the Organization : Kotak Securities Ltd (kotaksecurities.com)
Type of Facility : Demat Account Opening Procedure
Location : Mumbai
Website : http://www.kotaksecurities.com/home/index.html
Kotak Securities Ltd Related Content:
Open Stock Market Account Online : https://www.indianjobtalks.in/24516.html
Demat Account :
A demat account is like a bank account for your securities or investments. The only difference is that while a bank account holds a depositor’s money, the demat account contains your stocks, debentures, bonds, government securities (Gsecs), mutual fund units, exchange traded fund (ETF) units etc. in an electronic form.
The structure of the dematerialised system comprises a depository, which is the entity that actually holds your securities. This can be compared to a bank, which holds your money. The depository has dedicated agents called depository participants, more commonly referred to as DPs. If you want to use the services of a depository then you need to open an account with a DP, which is similar to opening an account with a bank branch. Kotak Securities is a DP of National Securities Depository Limited (NSDL) and you can approach us to open and mange a demat account.
Once an account is opened you can use this to hold your various investments. When you make an investment such as buying some stocks, then the quantity of stocks is directly credited to your demat account. If you sell some stocks, then these will transferred out of your demat account, which will then show the balance remaining therein. Similarly, the demat account can be used to deal in various other securities so that the transactions are completed electronically without your having to deal with the physical documents and the related paperwork. At any time, your demat account with us will reflect the details of your existing holdings. So, all that you need to do is just check your account from time to time to get all the individual details including the quantity and value of each investment. Kotak Securities’ demat account is a secured and convenient way to track your securities and investments.
How to open a demat account :
Your first step to open a demat account is to get in touch with us – we are a depository participant (DP) with both National Securities Depositories Limited (NSDL) and Central Depository Services Limited (CDSL). Then all you have to do is fill in an account opening form, sign an agreement, provide photographs and submit documents of proof of identity, proof of address and a copy of the PAN card, we will take care of the rest of the procedure.
Before opening a demat account you must consider 5 things :
Minimum balance :
Versus a bank account where you need to maintain a minimum balance to avoid incurring several charges, there is no specified minimum number of securities that you need to maintain in the demat account.
Multiple accounts for varying ownership patterns :
Check the exact holding pattern for stocks that you own in the physical form. You will need to open a demat account in the same sequence as your existing holdings and you can hold multiple accounts with different name combinations.
Delivery instruction slip protection :
The equivalent of a bank cheque book is the delivery instruction slip in the demat account. This allows you to transfer securities out of your account. A high level of care in terms of maintaining the security and safety of slips is essential to prevent misuse of your account.
Seamless transaction :
Opening a Trinity account with us will provide you the ease of operation via linking your demat account with your trading account and bank account making the entire investing process one seamless transaction.
Account charges :
Several charges apply while operating the demat account. These are transparent and you (the account holder) must know these upfront. We mention below the exact charges along with the attendant conditions, so that there is complete clarity.
Schedule Of Charges :
| Sr.No. | Account head | Rate | Minimum payable |
| 1 | Dematerialisation | Rs.50/- per request and Rs.3/- per certificate | — |
| 2 | Rematerialisation | Rs.10/- for 100 shares | Rs. 15/- |
| 3 | Debit transactions – On market – Off market | 0.04% of the value of securities (plus NSDL charges as applicable) | Rs. 27/- (plus NSDL charges as applicable) |
| 4 | Account maintenance charges – Resident Indian – NRI | Rs. 50/-per month Rs. 75/-per month | — |
| 5 | Pledge charge | 0.05% of the value of securities | Rs. 30/- |
| 6 | Invocation of pledge | 0.04% of the value of securities | Rs. 30/- |
| 7 | Charge for client master change intimation | Rs.25/- | — |
Notes :
** There are no charges payable at the time of opening account. All other charges will be billed on a monthly basis
** In case of delays in the payment of charges, the demat account can be frozen for all operations till such time all dues are cleared. Please refer clause VIII mentioned in the agreement signed by you.
** “All market instructions for transfer must be received latest by 4.00 p.m. on the previous working day prior to the pay in day as per SEBI Guidelines. All off market instructions for transfer must be received atleast 24 hours before the execution date. Late instructions would be accepted at the account holder’s sole risk and responsibility”.
** Charges are subject to revision at the company’s sole discretion and as per revisions in NSDL charges.
** Any service not quoted above will be charged separately.
** Value of transaction will be in accordance with rates provided by the Depository or actual transaction value, whichever is higher.
** Service tax and other statutory charges if applicable will be levied separately.
** Quarterly statements of transaction may not be sent to the clients, if there is no transactions and no securities balance in the account. Annual Maintenance Charges will NOT be levied in such cases.
** In accordance with the SEBI circular (Ref # SEBI Circular No. CIR/MRD/DP/22/2012 dated August 27, 2012) effective from 1st October 2012 all Sole or First Holders of a demat account having value of securities not exceeding Rupees Two Lakhs are eligible and have an option to avail Basic Services Demat Account (BSDA), As per the said SEBI circular, for availing BSDA facility, the individual shall have only one BSDA in his/her name across all depositories for availing this facility a request letter in the prescribed format (available at you nearest Kotak Securities branch) can be submitted with the account opening form. Also an existing individual client who is eligible to convert his Demat account into BSDA can do so by submitting the request letter in this regard. In case the BSDA account holder converts such account into Non-BSDA (regular account) account or the account holder ceases to meet the eligibility criteria for BSDA account, the charges applicable to Non-BSDA (regular account) shall be levied.
** For demat accounts having NIL transactions during the year, statement of holding will be sent only once in a year w.e.f. 1st October 2012
For More Details, Click Here : http://www.kotaksecurities.com/whatw…t-account.html
Contact Postal Address :
Kotak Securities Ltd.
3rd Floor, Nirlon House,
Dr. Annie Besant Road, Worli,
Mumbai – 400030