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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 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, 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.
| Service | Charges |
|---|---|
| Demat Account Opening Fee | Rs 0 (Free) |
| Demat Account Annual Charges (AMC) | Rs 400 per year |
Geojit Demat Charges
Geojit trading and demat account opening fees are Rs 0 (Free). Geojit charges Rs 400 per year per year demat account AMC. Geojit demat debit transaction fee of For Geojit debit: 0.02% (subject to a min of Rs 15 & max of Rs 40 per trans), if the delivery is through POA/with DCN or 0.02% (subjects to a min of Rs 20 & maxi of Rs 40 per trans), if the delivery is through DIS or POA without DCN. For other broker debit: 0.02% (subject to a min of Rs 50 and max of Rs 100 per Trans) Off market transaction 0.02% (subject to a min of Rs 20 and max of Rs 40 per trans), if the receiving demat account is with Geojit BNP Paribas. 0.02% (subject to a minimum of Rs 50 and maximum of Rs 100 per transaction) if receiving demat account is outside Geojit BNP Paribas. per debit transaction.
| ID | Transaction | Charges |
|---|---|---|
| 1 | Demat Account Opening Charges | Rs 0 (Free) |
| 2 | Transaction Charges (Buy) | For Geojit debit: 0.02% (subject to a min of Rs 15 & max of Rs 40 per trans), if the delivery is through POA/with DCN or 0.02% (subjects to a min of Rs 20 & maxi of Rs 40 per trans), if the delivery is through DIS or POA without DCN. For other broker debit: 0.02% (subject to a min of Rs 50 and max of Rs 100 per Trans) Off market transaction 0.02% (subject to a min of Rs 20 and max of Rs 40 per trans), if the receiving demat account is with Geojit BNP Paribas. 0.02% (subject to a minimum of Rs 50 and maximum of Rs 100 per transaction) if receiving demat account is outside Geojit BNP Paribas. |
| 3 | Annual Maintenance Charges (AMC) | Regular Individual Account: RS 600 (Rs 450 electronic communication) NRI Clients: RS 2000 (Rs 750 electronic communication) Corporate Accounts: Rs 1250 BSDA clients: Nil for holding value till Rs 50,000. Rs 100 p.a. for holding value from Rs 50,001 to Rs 2,00,000 . Holding value above 2Lakh normal tariff will be applicable |
| 4 | Demat + Courier charges | Nil + Courier Charges @ Rs 35 |
| 5 | Remat | Rs 10 for every 100 securities or part thereof; or Rs 10 per certificate whichever is higher + courier charges Rs 35 per scrip |
| 6 | Pledge Creation | Rs 50 per trans, Rs 100 per transaction for BSDA clients |
| 7 | Pledge Creation Confirmation | NIL |
| 8 | Pledge Invocation | Rs 50 per trans Rs 100 for BSDA clients |
| 9 | Failed Transactions | NIL |
Geojit Demat account cannot be closed online. You need to submit the hard copy of the account closure form to the Geojit office to initiate account closure.
Steps to close Geojit Demat account:
Please ensure there are no shares or outstanding dues in your account before initiating the account closure request.
Geojit takes around 7 to 10 business days to close the account.
Information on this page was last updated on Thursday, November 23, 2023
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