Nirmal Bang Demat Account Charges, Review, Opening


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Incorporated in 1986, Nirmal Bang is a Mumbai based financial services company. It is primarily into the stock brokerage business. It offers stock, currency and commodity trading services at BSE, NSE, and MCX. Trading services are offered online, offline in branches and through call & trade facility.

Nirmal Bang is also a depository participant with NSDL and CDSL. Through its membership, Nirmal Bang offers Demat Account opening and other related services to its customers. Nirmal Bang offers a 2-in-1 account (trading and demat account) to its customers. Both the accounts are linked together and facilitate easier and faster transactions.

Depository Services is a key offering by Nirmal Bang. Every trader needs a demat account to trade in exchange-traded products like stocks, IPOs and mutual funds. A demat account allows customers to hold shares, Mutual Funds etc., in electronic format.

Nirmal Bang Demat Account

Nirmal Bang is the depository participant (DP) of NSDL and CDSL, two national depositories in India entrusted with the responsibility to open and manage Demat accounts. The DPs play the role of an intermediary between the depository and the customers. They facilitate account opening while the accounts are managed by CDSL and NSDL. Both, depository and DP's charge a fee per transaction from the customers for servicing the demat account.

Nirmal Bang Securities DP Membership Info:

  • Nirmal Bang DP ID -IN301604
  • Nirmal Bang CDSL DP ID: 13300

10 Reasons to Open Demat Account with Nirmal Bang

  1. Free Demat Account.
  2. Stock dividends, bonus, interest etc., are directly deposited into your account.
  3. Anytime online access to your demat account.
  4. Get demat services from branches in 16 states across India.
  5. Single account to hold Equity, MFs, and IPOs etc.
  6. Online trading is available at BSE, NSE, and MCX.
  7. Access to free research-based calls and reports.
  8. Facility to freeze the demat account.
  9. Fast settlement cycles.
  10. Regular updates on account status

Nirmal Bang Demat Account Opening Charges

To open a new demat account with Nirmal Bang, 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.

ServiceCharges
Demat Account Opening Fee₹0
Demat Account Annual Charges (AMC)₹200

Nirmal Bang Demat Account Charges

Nirmal Bang Depository Service Charges

For Resident Retail Customers and Corporates
Particulars Charges
Account Opening Nil
Closure of Account Nil
First Year AMC ₹200
Annual Maintenance Charges ₹200 (Pro Rata)
Demat Charges (Market & off Market) 0.03% with ₹25 minimum per debit instruction
Dematerialisation Charges ₹40 (For every 50 certificate)
Rematerialisation Charges ₹15 per certificate or 0.04% of value of securities whichever is higher
Pledge Creation ₹100 or 0.02% whichever is higher
Pledge Closure ₹100 or 0.02% whichever is higher
Pledge Invocation ₹100 or 0.02% whichever is higher
Rejection / fails Nil

Frequently Asked Questions

  1. 1. What is a Depository?

    A depository is like a bank where securities like equities, mutual funds, IPOs etc., are held in electronic form. The depository opens and manages the demat accounts. In India, NSDL and CDSL are two national depositories.

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  2. 2. Is it mandatory to open a demat account along with a trading account with Nirmal Bang?

    Yes, Nirmal Bang offers a 2-in-1 account where the trading and demat account are linked to each other. This helps you in fast settlements and seamless transactions.

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  3. 3. Who can open a demat account with Nirmal Bang?

    A 2-in-1 account can be opened by a resident individual (adult or minor), Corporate, Partnership Firm, and other registered associations.

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  4. 4. Can I open a Minor Demat Account with Nirmal Bang?

    Yes, Nirmal Bang offers demat account facility for minors. For a Minor Account (Demat and Trading Account), a legal guardian needs to be appointed. The legal guardian needs to provide his documents to open an account. He or she can manage the account until the minor attains the age of 18 years.

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  5. 5. How do I change my information in the demat account?

    You can make desired changes like change in address, mobile number and bank accounts etc., by visiting the nearest Nirmal Bang branch and get the details updated. You can also send an email to kycmodification@nirmalbang.com to get modifications done in your account. The company may ask for documents with the request.

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  6. 6. How to nominate my wife in my demat account?

    To nominate your wife or any person in your demat account, you need to take the following steps-

    1. Download the demat account nomination form from the company's website.
    2. Fill nominee information (name, contact info etc.) and Sign the nomination form.
    3. Submit the form to nearest Nirmal Bang branch or send it to the Nirmal Bang corporate office.

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Information on this page was last updated on Wednesday, November 20, 2019


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