Nuvama (Edelweiss) Demat Account Charges, Review, Opening

Nuvama (Edelweiss) Demat Account Opening Charges

To open a new Demat account with Nuvama (Edelweiss), 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.

Nuvama (Edelweiss) Demat Charges

Nuvama (Edelweiss) trading and demat account opening charges are Rs 0 (Free). Nuvama (Edelweiss) charges Rs 500 (1st Year Free) per year demat account AMC. Nuvama (Edelweiss) demat debit transaction charge of Rs 0.02% of the transaction value or ₹20 per transaction, whichever is higher per debit transaction.

1. 1. How to open demat account in Edelweiss?

   Edelweiss Broking demat account allows you to invest in the stock market, mutual funds, NCDs and IPOs. You can open a demat account with Edelweiss online or by visiting its branch offices.

   If you Aadhar number is linked with your current phone number (for OTP verification), you could open Edelweiss Demat Account online in just a few minutes. Your account gets activated the same day.

   If your Aadhar is not linked with your current phone number for OTP verification, you will have to fill the form online, download PDF, print it, sign it and send the paper forms to the Edelweiss office.

   Steps to open Edelweiss Demat Account Online

   1. Visit Edelweiss.in website or open Edelweiss Mobile app.
   2. Click on the 'Open an account' button.
   3. Enter your PAN Number and Date of Birth.
   4. Enter/validate your personal information.
   5. Enter bank account details.
   6. Choose the brokerage plan.
   7. Upload supporting documents.
   8. Submit the application.

   Your account will be opened after the verification of documents. This usually takes a few hours on weekdays.

    

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2. 2. How to close Edelweiss demat account online?

   Your Edelweiss demat account cannot be closed online. To close your demat account, you need to submit a paper-based account closure form to your relationship manager/advisor or nearby branch office.

   Steps to Close Edelweiss Demat Account

   1. Call customer service and request for account closure form.
   2. Get the pdf account closure form in an email.
   3. Print it, fill it and sign it.
   4. Handover the form to your RM or the branch office.

   It takes 7 working days once Edelweiss receives the singed account closure request.

   Note:

   • Make sure to clear all dues before submitting the account closure request.
   • Close all open positions and empty/transfer all securities from the demat account.

    

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3. 3. Is Edelweiss NSDL or CDSL?

   Edelweiss Broking is a Depository Participant (DP) with both CDSL and NSDL depositories. Its NSDL DP ID is IN302201 and IN303719 and the CDSL DP ID is 12032300. You could choose between CDSL and NSDL at the time of account opening. If you are not sure, choose CDSL as their demat charges are lower.

   You could find your demat account details online by login into the edelweiss website or mobile app under See Profile section.

   Steps to check Edelweiss Demat Account Number

   1. Login to the Edelweiss website or mobile app.
   2. Click on the photo icon in the top right.
   3. Click on 'See Profile' link
   4. Scroll down to 'Your Bank, Demat & Trading Accounts' section
   5. Check your Demat Account Number as
      • DP Name: EDELWEISS BROKING LIMITED
      • DP Account: 02820511
      • DP ID: 12032300

    

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4. 4. Where to get Edelweiss Demat Account Opening Form PDF?

   To receive a copy of the Edelweiss demat account opening form pdf, you can call or write to the company's help desk. They will send you Edelweiss demat account opening form pdf to your email ID.

   Alternatively, you can also contact the Relationship Manager or visit the nearest branch office to get a copy of the Edelweiss demat account opening form.

   Fill the form, sign it and submit it to the Relationship Manager or branch office along with the required documents.

    

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5. 5. How to transfer money to Edelweiss Demat Account?

   You could transfer money to the Edelweiss account using multiple ways including UPI, Net Banking, and cheque/DD. For online trading account holders, UPI or Payment Gateway is allowed whereas cheque/DD is allowed for offline account holders.

   The amount transferred through UPI or online payment gateway (net banking) is available instantly in the Edelweiss trading account for investing.

   Fund transfer using UPI is free. To transfer using UPI, you would need a UPI ID. The UPI ID can be created by downloading the BHIM UPI app or the mobile app of your bank. You have to update your UPI ID under your profile by clicking the 'See Profile' link in the the top right.

   Steps for Fund Transfer using UPI in Edelweiss

   1. Login to the Edelweiss website or mobile app
   2. Click on the 'Buy/Sell' in the top right
   3. Click on the 'Transfer Funds' link
   4. Choose payment mode as 'UPI'
   5. Enter the amount and click 'Submit'
   6. You will receive a UPI payment mandate.
   7. Go to your UPI app, and authorize the transaction.

   Steps for Fund Transfer using Net-Banking in Edelweiss

   1. Login to the Edelweiss website or mobile app
   2. Click on the 'Buy/Sell' in the top right
   3. Click on the 'Transfer Funds' link
   4. Choose payment mode as 'Net Banking'
   5. Enter the amount and click 'Submit'
   6. You will be taken to your bank's internet banking website page.
   7. Login and approve the transfer.

   Fund transfer Cheque/DDTransfer to Edelweiss Account

   You can also transfer funds to your Edelweiss demat account by drawing a cheque in favour of Edelweiss Broking Limited. However, this facility is only provided to customers who have an offline trading account.

   In case of cheque payment, your money will be credited to your demat or trading account only after the cheque is cleared. This may take 2-3 days.

    

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6. 6. What is Edelweiss Demat Account?

   It is mandatory to have a Demat account to trade in exchanges in shares and Mutual Funds. The Demat account works like a bank to hold your securities.

   NSDL and CDSL are two national depositories that open and manage the Demat accounts. Whenever you buy shares, the holdings are credited in this account and are debited when you sell it.

    

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7. 7. I already have a Demat account? Do I need open another demat account with Edelweiss?

   No, it is not required. However, for the convenience of trading, it is advisable that you open a 2-in-1 account.

    

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8. 8. Why I am asked to link my bank account with the Edelweiss demat account?

   Securities like shares and mutual funds earn benefits like dividends and bonuses from time to time. The Demat account can only hold securities, not money. So, the benefits are directly deposited in the linked bank account. It is mandatory to link a bank account with the Demat account.

    

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9. 9. Who can open a demat account with Edelweiss Broking?

   All resident Indians and NRIs residing in Australia, New Zealand, Singapore, Hong Kong, UK and Gulf countries can open an account of the company.

    

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10. 10. Can I open Minor Demat Account with Edelweiss Broking?

    Yes, a minor demat account can be opened. In the case of a Minor Account, a legal guardian (either of the parents) needs to be appointed who will manage the account till the minor attains the age of 18 years. The legal guardian needs to submit his documents for account opening.

     

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11. 11. Can I open a joint demat account with Edelweiss Broking?

    Yes, a joint account can be opened with up to 3 joint holders.

     

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