Demat Account

With practically all trading being conducted electronically, most settlements happen through Demat (Dematerialisation of securities). The ING Demat Account offers you a secure and convenient way to keep track of your shares and investments, how much you've bought and sold over a period of time, without the hassle of handling physical documents that get mutilated or lost in transit.
 

     

 

Features & Benefits

As opposed to the earlier form of dealing in physical certificates with delays in transaction, trading through Demat has the following benefits.

  • Settlement of securities traded on the exchange as well as off market transactions.
  • Shorter settlements thereby enhancing liquidity.
  • Pledging and Hypothecation of Dematerialized Securities.
  • Electronic credit in public issue.
  • Receipt of non-cash benefits in electronic form.
  • No stamp duties on transfer of securities held in demat form.
  • No concept of Market Lots.
  • Change of name, address, dividend mandate, registration of power of attorney, transmission etc. can be effected across companies held in demat form by a single instruction to the DP.

Types of Depository Accounts

Types of Depository Accounts

You can open two types of depository accounts:

  • Individual Account
  • Corporate Account
Individual Account

An individual account can be opened under following two categories depending on the residential status of the applicant(s):

  • Resident
  • Non-Resident
Resident Account

For opening a resident account you would need to furnish the following documents:

  • Completed application form signed by all the applicants. Once a Demat account is opened, the depository participant cannot make any alterations in the names, so please fill in your name very carefully.
  • DP Client Agreement executed on a non-judicial stamp paper of Rs.200/-
  • A set of photographs of all the applicants duly signed.

Proof of identity for all the holders (any one of the following)

  • Voters ID Card
  • Driving License
  • Passport
  • PAN Card (PAN card is mandatory for opening Demat)

Proof of correspondence address for all the holders (any one of the following):

  • Voters ID Card
  • Driving License
  • Passport
  • Ration Card
  • Bank statement or Electricity Bill or Telephone Bill (not more than 2 months old)
  • Leave and License Agreement / Agreement for Sale

Other documents

  • Tariff sheet duly signed by all the account holders
  • Valid debit authorization
Non Resident Account

Apart from the documents required to open an ordinary resident account you would need to furnish the following documents:

  • Copy of passport and visa attested by the branch after verifying with the originals
  • Linked savings account has to be NRE/NRO as applicable.

For further information on opening a non-resident demat account please get in touch with our NRI cell at nri@ingvysyabank.com

Corporate Account

Documentation & Procedure :

  • Account opening form duly completed in all respects.
  • Photographs of all the authorized signatories (duly signed) to be affixed on the reverse of the specimen signature card.
  • Copy of Memorandum and Articles of Association duly attested by the Company Secretary/Director
  • Board resolution on the corporate 's letterhead stating that the company desires to open a demat account with ING. It should also mention the details of the authorized signatories who will be operating the account as per the mode of operations decided by the board.
  • DP Client Agreement to be executed on non-judicial stamp paper of Rs.200/-.
  • Proof of address of the corporate:
    Document registered with Registrar of Companies
    Acknowledged copy of Income Tax return
    Leave & License agreement
    Copy of Agreement of purchase of office premises
    Proof of identity of authorized signatory.

Account Operation

Account Operation:

On processing your Account opening Form:

    You will receive a welcome kit including the Client Master List (CML) for your account and a personalized delivery instruction slip book. The CML will contain the following:
  • Your Demat accounts number
  • Name of the account holders
  • Address and other details specific to your account
  • Copy of agreement, Tariff Card, Delivery instruction book.

If there is a debit or credit transaction in your Demat account

An entry will be made in your monthly transaction cum billing statement with the charges debited to your linked bank account. The debits of charges to your bank account will be reflected in the quarterly statement of your bank account, if you have given a standing instruction for collection of bills from your SB account.

If you have submitted a requested for change in your address, nomination details, bank details etc.

For the bank to accept changes and have the same reflected in the Client master list, you must furnish a letter detailing the additional requirements with necessary documentation.

Dematerializing and Rematerializing Securities

Dematerializing Your Securities:

If you wish to dematerialize (convert them into electronic form) your securities you need to :

  • Check whether the scrip is available for dematerialization.
  • If the scrip is available for dematerialization, then submit the share certificates along with a Dematerialization Request Form ("DRF") duly signed by all the Demat account holders.
  • The certificates should be duly cancelled by writing "Surrendered for Demateriazation" on them.
    ING will :
  • Verify the signature of all the account holders.
  • Verify the names in the Demat account and the certificates.
  • Forward the certificates to the Registrar/Company for the further processing/ credit in your account.
  • Once you get a credit in the account the scrip will be reflected as free balance in your demat account statement.
Rematerializing Your Securities

If you would like to rematerialize your securities (i.e. convert the electronic holding into physical securities) you will need to :

Submit a format request on a rematerlisation form ("RRF") duly signed by all the demat account holders.

ING will

  • Verify the names and signatures on the form.
  • Process the request and send the form to the Company/R & T agent.
  • Company / Registrar will issue a new certificate and forward it directly to the address registered in your Demat account.

Nature of Transactions

Nature of Transactions:

The following are the nature of transaction that take place through demat. :

  • Credit Transactions
  • Debit Transactions
  • Pledging of dematerialized securities.
Credit Transactions
  • Transfer of securities from the account of clearing member (Market Transaction)
  • Transfer of securities from the account of another beneficiary (off Market Transaction)
  • Allotment on public issues directly in your Demat account
  • Credit of non-cash benefits like bonus, rights etc. directly in your Demat account

You can give standing instructions for receipt of shares in your Demat account. This one time instruction enables you to receive credits in your Demat account without having to give separate instructions at every instance of credit.

Debit Transactions
  • Transfer of securities from the account of clearing member (Market Transaction)
  • Transfer of securities to the account of another beneficiary (Off Market Transaction)

In these transactions securities are transferred from your account to the Demat account to the receiver as per instructions on the personalized instruction slip. These instructions need to be signed by all the account holders and need to be submitted every time you wish to transfer securities from your account

Please note that all financial transactions between a transferor and transferee of securities are handled outside the depository system.

The personalized instruction slip book issued for the Demat account is as important as a chequebook. We advise you to strictly follow the conditions for issue and use of instruction slip book printed on the back cover of the book. In the event of the instruction slip book getting lost, please contact your nearest DP servicing branch immediately in order to enable us to assist you in marking a stop transfer on the slip book issued to you.

It is available to requisition for a new slip book using the requisition form so as to avoid last minute inconveniences.

Demat Statements

Internet based DEmat Account Statement (IDEAS):

ING is now providing the option to view the latest holding and transactions of last five (5) days in your Demat account, through Internet based service called IDEAS.

Functioning of IDEAS

IDEAS is an Internet based service offered by National Securities Depository Limited (NSDL) through which demat account holders (including brokers) can view their latest holdings / transactions through SPEED-e website https://speed-e.nsdl.com. The transaction statement of the previous month will also be available for download.

Subscribing to IDEAS

You can register yourself as a Password User or as a Smart Card User.

Password User – kindly fill up the online registration form for new Users. You can choose your own "User ID" and "Password". Fill up the registration form, select the service as “IDEAS” and click "submit", to get an acknowledgement. Take a printout of the registration form or note down the registration number. Kindly download the IDEAS application form or obtain the same from our Demat authorized branches, fill it along with the registration number you got through online registration and submit it to us. On receipt of the form, we will register you as a Password User and thereafter you can view the positions in your Demat account, through IDEAS.

Smart Card User – You can download the IDEAS application for Smart Card User or can obtain the same from our Demat authorized branches. Fill the form and submit it to us. On receipt of the form you would be registered as a Smart Card User. You will be provided with a Smart Card Kit, Digital Signature Certificate and Personal Identification Number (PIN) through NSDL approved vendor. Using Smart Card, you can view the positions in your Demat account, through IDEAS.

Safety Features available in IDEAS

  • IDEAS displays the date and time when the USER had last accessed his/her/their account through the net and thus he/she/they can keep track of the access, to the Demat account.
  • Only alphanumeric combination is allowed as password. Further, as an additional safety measure, User is required to change the Password after every 60 days to avoid prolonged use of the same Password.
  • Smart Card with Digital Signature – usage of Smart Card User for viewing is treated as digitally signed by the User, which ensures the integrity of the instruction and authenticity of the User's authentication.

Benefits of IDEAS

  • The latest holdings / transactions in your demat account will get reflected on an online mode, as the same is updated by NSDL directly.
  • Download and store the previous month transaction statement.
  • Saves time and effort in obtaining the positions in the Demat account from the DP.
  • Need not wait for the monthly statement from DP to check your purchases or to place order for sale, after confirming the credit of securities.
  • Even if the DP is unable to connect to NSDL for some reason, your latest positions can be viewed through IDEAS.

Nominal Charges

Charges for usage of IDEAS service are very nominal as compared to the benefits accruing with the service. The charges applicable for this service are as follows:

Type of Charge Password User Smart Card User
Quarterly Maintenance Charges for IDEAS facility (as charged by NSDL) Rs.10/- Rs.10/-
Set up cost** - NIL - Rs.6,000/- to Rs.7,000/-
** Smart Card and Smart Card Reader kit has to be procured from NSDL approved vendors. The amount mentioned has to be paid to the vendor directly and not to DP.

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