DEMAT SERVICES

Our Bank now offers Demat Services as a Depository Participant (DP) of National Securities and Depository Ltd. (NSDL) through our Mumbai, Navi Mumbai and Thane Region Branches.

SEBI NOTIFICATION - in respect of DEMAT Account holders:

"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."

"Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL on the same day......................issued in the interest of investors."

Demat :

Demat is a process, where at the request of the customer, the physical stocks are converted into electronic entries and maintained in the depository system.

Depository :

Depository is a provider of facility for holding and / or transacting securities in book entry form. Physical securities can be converted in to book entry form i.e. electronic form by way of immobilization or Dematerialization (so that they exist only as electronic records). India has chosen the Dematerialization route. A depository functions somewhat similar to a commercial Bank. To avail of the services offered by a depository, the investor has to open a Demat account with a registered Depository Participants (DP).

Depository Participant :

Depository Participant (DP) is an agent of Depository who is authorized to offer depository services to investors. Financial Institutions, Banks, Custodians and Stockbrokers complying with the requirements prescribed by SEBI / Depositories can be registered as a DP.

Salient Features:

  • Competitive Charges.
  • Any Branch Demat Service.
  • 9.30 a.m. to 4.30 p.m. Demat Services.

"easi" facility :

based facility, which allows registered Beneficial Owners (BOs) & Clearing Members (CMs) to access their Demat account anytime, anywhere, through NSDL’s website www.nsdl.co.in Enabling them to view their statement of account with previous day valuation through internet

"Smart" facility :

SMART stands for SMS Alerts Related to Transactions in which investors who are registered for SMART will receive SMS alerting all types of debits, subject to a maximum of first four debits in a day, and for credits due to IPOs allotments and corporate actions.

Tariff :

  • Competitive tariff structure on Demat services
  • Account Opening Charges
  • Nil
  • Custody Fees
  • Nil
  • Transactions Charges Sales / Debit
  • 0.04% (Subject to minimum of Rs. 21/- per ISIN)
  • Demat Charges
  • Rs. 3/- per Certificate ( Min. Rs.15/- ) + Rs. 30/- Courier Charges.
  • Remat Charges
  • Rs. 25/- per Cert. + Rs 30/- Courier Chg.
  • Pledge / Unpledge / Invocation / Freez Charges
  • Rs. 50/- per ISIN
  • Account Maintenance Charges(Per annum)
  • Rs. 300/- for Individuals Rs. 900/- for Company Accounts

Note :

  • Above charges are exclusive of service tax.
  • Account Maintenance Charges and Demat Charges are payable upfront.
  • All other charges are payable monthly.
  • Holding statement will be provided once a month if there is any transaction, else quarterly. Any additional statement would be charged Rs.15/- per page.
  • Free SMS alert facility through SMART services.
  • Free Online statement of account with valuation on internet and transfer of securities to any account through internet based service easi.

Grievance Redressal– Demat Services.

For enquiries and redressal of grievances through
e-mail write to us at :demat@mahanagarbank.com
or contact our Demat Cell on Tel. No.: 022 24710972,

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