(i) With effect from 01.04.2011, all the new demat accounts and Online Trading accounts will be opened in the books of SBI Cap Securities Ltd.
(ii) The existing demat accounts in the books of the Bank will continue to be maintained by the Bank.
Therefore, in new 3 in one facility, Savings/Current account will be held with SBI while
Demat and Online Trading account will be held in the books of SBI Cap Securities Ltd.
However, existing demat customers of SBI will continue to get the services from SBI as before. SBI is a Depository Participant registered with both National Securities Depositories Limited (NSDL) and Central Depository Services Limited (CDSL) and is operating its DP activity through more than 1000 branches. Our Power Demat Account offers you the following features:
Features & Benefits of a Demat Account
As opposed to the earlier form of dealing in physical certificates with delays in transaction, holding and trading in Demat form has the following benefits:
- Account Maintenance & Safe custody: Facilitates Maintaining Security Balance in electronic form
- Dematerialization: Facilitates converting physical share certificate into electronic balances.
- Rematerialization: Facilitates converting the electronic balances to physical (share certificate) form.
- Account Transfers: Facilitates delivery/receipt of electronic balances consequent to market / off-market trades.
- Pledge/Hypothecation: Facilitates blocking securities balance of borrowers in favour of lenders for obtaining Loans / advances against shares.
- Initial Public offer: Facilitates faster and direct credit of security balances into DP account on allotment through public issue of companies
- Disbursement of corporate benefits: Facilitates faster and direct credit of security balance into DP account on account of non-monetary corporate benefits as bonus and rights issues.
- Security Lending: Facilitates earning extra income on your dematerialized holdings by the way of securities lending.
A Demat account with SBI provides you the following benefits:
- Customer Care: You can now call our dedicated Customer Care 24X7 and rest assured that all your queries are taken care of.
- Transact Anywhere: Now operate your Demat account from any of the 1000 plus Demat enabled branches of SBI.
- Statements by e-mail: Receive your account statement and bill by email.
- Demat Services’ Online Facility – This convenient and paper free facility lets you operate from the comfort of your home or office through SBI’s Internet Banking Facility - www.onlinesbi.com
Online Demat Statements: You can now view your Demat account details, statement of holdings, statement of transactions and statement of billing online.
Order Delivery Instruction Booklet online: No queues at branches anymore as you can now order your Delivery Instructions Booklet online and the same would be delivered at your doorsteps.
Check ISINs, Settlement Calendar and Status of Requests online
eZ - Instructions: You can transfer or pledge/unpledge securities online anyplace, anytime.
Mobile Alerts: Receive SMS alerts for all debits/credits as well as for any request which cannot be processed.
eZ-trade@sbi: In case you want an Online Trading Facility, you can have it with SBICap Securities Limited. This service provides you with a 3-in-1 account which is an integrated platform of Savings Bank A/c, Demat A/c and Online Trading A/c to give you a convenient and paper free trading experience.