-99.15% 2,064 Clients
Alert! 25th Nov 2020 - NSE, BSE terminate Karvy's membership.
Alert! Friday, 22 Nov, 2019 SEBI barred Karvy Stock Broking Ltd. from taking on new clients after finding alleged client fraud. Read SEBI Notice and News for more detail.
Note: Karvy will continue serving their existing clients as they were before. They can trade, manage demat accounts, apply in IPO or close the account anytime. Only the new account opening is prohibited.
Karvy Customers,
Karvy account opening charges are Rs 650 for a trading account and Rs 0 for Demat account. Karvy charge Rs 420 AMC for Demat account.
Transaction | Charges |
---|---|
Trading Account Opening Charges | Rs 650 |
Account AMC Charges | Rs 0 |
Demat Account Opening Charges | Rs 0 |
Demat AMC (Yealy) | Rs 420 |
Karvy Stock Broking Ltd is among popular stock broker in India. Karvy Stock Broking business is part of Karvy Group, a Hyderabad based diversified financial products and service provider in India since 1982. Karvy is famous for its services as registrar and securities transfer agent.
Karvy started its brokerage business in Year 2004. Karvy's stock broking business has grown quickly through a network of branch offices, sub-brokers and franchises.
Karvy offers products including Equity, F&O, Currency, Commodity, Mutual Fund, Exchange Traded Funds, IPOs, Bonds / NCDs, Corporate FDs and Margin Funding.
Services offered by Karvy also include Equity Research, Investment Banking, NRI Trading and Depository Services (Demat Account).
To trade or invest with Karvy, investor need a trading and demat account with Karvy. Karvy offers online trading in equity, commodity and currency derivatives at BSE, NSE and MCX.
Karvy account opening process is simple and quick. Karvy offers both online and conventional way (by signing paper forms) to open an account. Karvy has local presence (through branch offices, sub-brokers and franchisee) in the neighborhood of most of the prospectus customers in India.
If you are interested in opening an account with Karvy, you could follow one of the below two options:
Karvy is among few stock brokers in India offering 15 minutes online account opening. Customer who choose this way of account opening gets total Rs 5000 brokerage credit (Rs 1100 max in each trading segment) against trading done in first 30 days.
The online account opening process uses e-KYC (Know your customer) facility which allows customer to complete KYC process either through AADHAAR number validation or through video verification.
Note that to open account online using eKYC facility, person should have valid mobile number registered in AADHAAR database. A one-time-password is sent to the mobile number registered with AADHAAR to validate your identity and create digital signature on your behalf.
Steps to open Online Trading Account with Karvy:
If everything in place, it takes just few minutes to open and activate an account online with Karvy.
Find the local Karvy branch office or a sub-broker. You could visit the office or give them a phone call. They will arrange a personal visit to open an account for you. The representative will help you understand the offerings, fill the forms and collect required documents required for account opening. A passport photograph and personalized cheque is required.
Karvy offers 3 type of accounts:
Key features of Zero Account:
Key feature of Express Account:
Key features of Priority Account:
Karvy offering Rs 5500 brokerage credit on account opening.
Note:
To check the account opening status, please call your relationship manager who helped you with filling the form or visit local Karvy branch.
The account opening application can also be tracked on its website by providing application number and PAN Number.
Karvy demat account opening form in pdf are not available online. Visit Karvy branch or sub broker office to get the account opening forms.
Karvy charge AMC for Trading and Demat Account based on the plan you choose. If you are not using the account, it is recommended to close it. This saves on the charges and also reduce chances of your account misuse by someone else.
Steps to close the trading and demat account with Karvy:
Karvy offer 3 types of accounts.
No, it's against the law to have multiple account with same name with the same broker.
Yes, customer can have as many demat account as they want with Karvy. But note that only 1 trading account can be opened with Karvy on an individual name.
After the traditional system replaced by electronic trading platforms holding share certificates in physical form became a past. After the introduction of dematerialization, most investors transferred their physical shares in electronic form in demat account.
It's very common that many people open a demat account because of zero account opening charges but often don't actively use it later. When a demat account is not operated for a long time it is named as inactive by the DP. Your account won't be classified as inactive account or dormant if the account holder has paid their annual maintenance fees on time. Many times account holder is not aware of those maintenance charges. To avoid those charges close your account if it's idle for a long time.
Note that:
After completing the above formalities, the customer has to follow the below steps:
Once all the required documents are submitted, it normally takes 5 to 7 working days to process the request.
Information on this page was last updated on Saturday, June 6, 2020
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