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 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
Note: Its mandatory to open demat account with Geojit to avail the online trading facility.
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 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
To open a new demat account with Geojit, customer has to pay demat account opening fee. Most share brokers also charge Annual Maintenance Charges (AMC). AMC is yearly fee charged to the customer to maintain the demat account with the broker. Find the Geojit Demat Account Opening Charges and Geojit AMC as below:
|1||Account Opening Charges||Nil|
|2||Dematerialisation charges||Nil + courier charges @ Rs.35/-|
|3||Rematerialisation charges||Rs.10 for every hundred securities or part thereof; or Rs.10 per certificate, whichever is higher + courier charges of Rs.35/- per scrip.|
|A) For transaction through Geojit|
|Debit (sales):||0.02% subject to a minimum of Rs. 15/- and maximum of Rs.40/- per transaction, if the delivery is through POA/Speed-e with DCN
0.03% subject to a minimum of Rs.20/- and maximum of Rs.40/- per transaction, if the delivery is through DIS or POA without DCN
|B) For transaction through other brokers|
|Debit (sales):||0.04 % subject to a minimum of Rs.50/- and maximum of Rs.100/- per transaction|
|Pledge creation||Rs.50/- per transaction|
|Pledge invocation||Rs.100/- per transaction|
|7||Annual Maintenance Charges||Rs.400/-|
Information about Geojit demat account, Geojit demat account review, Geojit demat account charges, Geojit demat account opening, Geojit dp charges, Geojit demat charges, and Geojit dp id.
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