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Geojit Demat Account Charges, Review, Opening

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Geojit is one of the largest stock broker in India. Geojit is based out of Kochi, Kerala with presence in over 21 states in India. Geojit started its retail stock broking services in year 2000 and registered member of SEBI, NSE, BSE, NSDL and CDSL.

Geojit was taken over by BNP Paribas, a Paris France based bank year 2007. As of Dec 2016, BNP Paribas is the majority shareholder in Geojit BNP Paribas Financial Services Limited (Geojit BNP Paribas).

Products offered by Geojit includes Equity, Equity Derivatives, Currency F&O, Depository Services (Demat Account), Portfolio Management Service, Mutual Funds, IPO, NRI Trading, Institutional Brokerage and Insurance.

Geojit BNP Paribas Demat Account

Geojit is a SEBI registered intermediary that is a Depository Participant (DP) of National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). This allows Geojit customers to open a Demat account with them.

Demat account works like a bank account. Instead of holding money, the demat account stores shares, debentures, bonds, government securities, units etc. in electronic form.

Geojit act as DP (depository participant or intermediary body) to provide demat services to its customers. The securities are actually held by CDLS/NSDL in electronic format.

Services offered by Geojit depository services

Dematerialization (Convert shares on paper to electronic)
Rematerialization (Convert shares in electronic form to paper)
Pledge (pledge securities to avail a loan)
Account Transfer (Transfer securities to another demat account)
IPO's (IPO allotment, bonus and rights issues are credited automatically)
Corporate Actions (Dividend, interest or non-monetary benefits like bonus, rights, etc are settled automatically)
SMS Alerts
e-Services (to handle demat account online)

Note: Its mandatory to open demat account with Geojit to avail the online trading facility.

Geojit BNP Paribas Demat Account Review (Geojit Demat Account Review)

Geojit provide all standard demat account related services at very competitive prices. The demat account can accessed online as well as by visiting Geojit offices.

Geojit also provide an important add-on demat account services, SMS Alerts. This service is available for free of charge to all its customer who has opted for it. This includes alert messages for all debit transactions, IPO shares credit, stock split & bonus, failed and overdue debit instructions, change of address & mobile number, invocation of pledged securities, registration & de-registration of Power of Attorney, and modification/cancellation of Nominee.

Geojit BNP Paribas Demat Account Closing Form

Geojit charges annual maintenance charge (AMC) of Rs 600 per year for demat account. If you are not using the demat account or not planning to use it, it is recommended to close it. Closing the unused demat account also help to avoid misusing of the account.

Steps to close Geojit Demat Account

Visit the branch office of Geojit.
Pay any pending fees or changes on the account.
Fill the demat account closure form.
Return the paper DP slips, if you hold them.
Submit the form in the branch.

Geojit Demat Account Opening Charges

To open a new Demat account with Geojit, the customer may have to pay Demat account opening charges. The broker may also charges Annual Maintenance Charges (AMC), a yearly fee to maintain the Demat account.

Service	Charges
Demat Account Opening Fee	Rs 0 (Free)
Demat Account Annual Charges (AMC)	Rs 400 per year

Geojit Demat Charges

Geojit trading and demat account opening charges are Rs 0 (Free). Geojit charges Rs 400 per year per year demat account AMC. Geojit demat debit transaction charge of Rs

For Geojit debit:

0.02% (subject to a min of Rs 15 & max of Rs 40 per trans), if the delivery is through POA/with DCN or

0.02% (subjects to a min of Rs 20 & maxi of Rs 40 per trans), if the delivery is through DIS or POA without DCN.

For other broker debit:

0.02% (subject to a min of Rs 50 and max of Rs 100 per Trans)

Off market transaction

0.02% (subject to a min of Rs 20 and max of Rs 40 per trans), if the receiving demat account is with Geojit BNP Paribas.

0.02% (subject to a minimum of Rs 50 and maximum of Rs 100 per transaction) if receiving demat account is outside Geojit BNP Paribas.

per debit transaction.

ID	Transaction	Charges
1	Demat Account Opening Charges	Rs 0 (Free)
2	Transaction Charges (Buy)
3	Transaction Charges (Sell)	For Geojit debit: 0.02% (subject to a min of Rs 15 & max of Rs 40 per trans), if the delivery is through POA/with DCN or 0.02% (subjects to a min of Rs 20 & maxi of Rs 40 per trans), if the delivery is through DIS or POA without DCN. For other broker debit: 0.02% (subject to a min of Rs 50 and max of Rs 100 per Trans) Off market transaction 0.02% (subject to a min of Rs 20 and max of Rs 40 per trans), if the receiving demat account is with Geojit BNP Paribas. 0.02% (subject to a minimum of Rs 50 and maximum of Rs 100 per transaction) if receiving demat account is outside Geojit BNP Paribas.
4	Annual Maintenance Charges (AMC)	Regular Individual Account: RS 600 (Rs 450 electronic communication) NRI Clients: RS 2000 (Rs 750 electronic communication) Corporate Accounts: Rs 1250 BSDA clients: Nil for holding value till Rs 50,000. Rs 100 p.a. for holding value from Rs 50,001 to Rs 2,00,000 . Holding value above 2Lakh normal tariff will be applicable
5	Demat + Courier charges	Nil + Courier Charges @ Rs 35
6	Remat	Rs 10 for every 100 securities or part thereof; or Rs 10 per certificate whichever is higher + courier charges Rs 35 per scrip
7	Pledge Creation	Rs 50 per trans, Rs 100 per transaction for BSDA clients
8	Pledge Creation Confirmation	NIL
9	Pledge Invocation	Rs 50 per trans Rs 100 for BSDA clients
10	Failed Transactions	NIL
11	Other Charges

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Frequently Asked Questions

1. How to close Geojit Demat account online?
Geojit Demat account cannot be closed online. You need to submit the hard copy of the account closure form to the Geojit office to initiate account closure.

Steps to close Geojit Demat account:
1. Visit the nearest branch or call/email customer care to procure the account closure form.
2. Fill in the required details along with the reason for which you want to close the account.
3. Attach KYC documents like ID proof and address proof.
4. Sign the form. All the account holders must sign the form in case of multiple holders.
5. Courier the form to the head office or submit it to the nearest Geojit branch.
Please ensure there are no shares or outstanding dues in your account before initiating the account closure request.

Geojit takes around 7 to 10 business days to close the account.
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