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

  1. Dematerialization (Convert shares on paper to electronic)
  2. Rematerialization (Convert shares in electronic form to paper)
  3. Pledge (pledge securities to avail a loan)
  4. Account Transfer (Transfer securities to another demat account)
  5. IPO's (IPO allotment, bonus and rights issues are credited automatically)
  6. Corporate Actions (Dividend, interest or non-monetary benefits like bonus, rights, etc are settled automatically)
  7. SMS Alerts
  8. 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

  1. Visit the branch office of Geojit.
  2. Pay any pending fees or changes on the account.
  3. Fill the demat account closure form.
  4. Return the paper DP slips, if you hold them.
  5. 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 charge Annual Maintenance Charges (AMC), a yearly fee to maintain the demat account.

Demat Account Opening FeeNIL
Demat Account Annual Charges (AMC)₹0

Geojit Demat Account Charges

Geojit Depository Service Charges for Resident Retail Customers

SrParticularsScheme C
1 Account Opening Charges Nil
2 Dematerialisation charges Nil + courier charges @ ₹35/-
3 Rematerialisation charges ₹10 for every hundred securities or part thereof; or ₹10 per certificate, whichever is higher + courier charges of ₹35/- per scrip.
4 Custody Charges Nil
5 Transaction Charges Nil
  A) For transaction through Geojit  
  Debit (sales): 0.02% subject to a minimum of ₹15/- and maximum of ₹40/- per transaction, if the delivery is through POA/Speed-e with DCN
0.03% subject to a minimum of ₹20/- and maximum of ₹40/- per transaction, if the delivery is through DIS or POA without DCN
  Credit (purchase): Nil
  B) For transaction through other brokers  
  Debit (sales): 0.04 % subject to a minimum of ₹50/- and maximum of ₹100/- per transaction
  Credit (purchase): Nil
6 Pledge charges  
  Pledge creation ₹50/- per transaction
  Pledge closure Nil
  Pledge invocation ₹100/- per transaction
7 Annual Maintenance Charges ₹400/-

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Information on this page was last updated on Wednesday, January 29, 2020


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