With the increasing importance being laid on a clean environment, HDFC Bank’s initiative in this direction by offering the services of online demat account is certainly a praiseworthy thing. The bank has introduced latest measures in it’s demat account to give you the best advantages in trading. Surprisingly, at present, the number of demat accounts with HDFC Bank has gone on to become more than 1.5 millions. It owns almost 2400 servicing branches for giving demat services all over the country.
There are other leading banks available in market that offer Demat account, I would suggest to take a look to the SBI Demat account, ICICI Bank Demat Account along with private sector like Sharekhan Demat account.
How can you open a demat account with HDFC bank?
Open online - You can open the Demat account online itself with this link and the web page will give you a short form that you can fill up with your details and click on “submit” button. The bank will get in touch with you very soon. Make sure to fill up all the details from your address to email details carefully.
You can get the form from the form center - You can go to this url and download the form for the opening of demat account. You can apply with other documents at your nearest branch.
Charges applicable for transacting in the demat account
I. You will pay transaction based annual maintenance charges from the 2nd years onwards.
II. You need not pay anything for opening a Demat account.
III. As a senior citizen, you will only pay annual maintenance charges of Rs 250 and for making transactions the charges will also be lesser.
IV. You need not pay any stamp charges for making transfer of securities in demat form.
V. You will get auto credit of rights of bonus and public shares in your demat account though electronic clearing system.
VI. You can view holding and transaction particulars in your net banking account.
Other charges while transacting in the Demat account
There are three types of charges, while you operate a Demat account. The first one is charges by NSDL. The second types of charges are fixed by CSDL. The third kinds of fees are levied by SEBI through its circular for refund of AMC for the closure of demat accounts.
You can log on to this page and click on “what are the charges” link at the bottom of the page and know about all the above mentioned charges.