Transfer cum Closure cum Waiver :

Shift your securities from your existing Depository Participant (DP) to HDFC Bank Demat Account absolutely free of any charge. The existing account should be closed and the securities transferred to another account for taking this benefit.

Beneficiary Owners (BO) Account(s) at the transferee DP and at transferor DP are one and the same, i.e. identical in all respect. In case of Joint accounts, your Demat account should also be a joint account in the same sequence of ownership.

Process of Transfer cum Closure cum Waiver (TCW):

1. Customers who wish to submit closure request [(Annexure Q)] need to come ‘In person’ – Any one of Demat Account holder(s) to be present at the time of submitting the transfer cum closure request. This requirement would also be applicable in case of NRI customers. In case of corporate Accounts, any one of the Authorised signatories will have to visit the bank personally.

2. Signatures of Demat holder(s) to be affixed in presence of the DP official (space provided in Closure request)

3. Demat Account holder (any holder) signed in presence of Bank staff.

4. Copy of Client master Report (NSDL - CML) or Crystal Report (CDSL) of the target Account with another participant where the securities are to be transferred. This has to be stamped and signed by the target DP

5. Customer needs to surrender unused DIS duly cancelled – In case the customer informs that he has exhausted the DIB booklet / misplaced / not traceable and he still wants to close the Account , then ‘In person verification’ to be carried out for ALL the joint holders.& customer needs to affix signatures against the relevant option in the closure request

6. Branch to cancel and destroy the unused physical slips in case submitted by the customer. Branch to record the same in “DIS destruction register”

7. Self attested copy of valid Proof of identity viz PAN card, passport, Voter ID card, Driving license etc. to be submitted. This document needs to be stamped as “Original seen and verified” by Bank official.

8. Original Client master List (CML for NSDL) or Original Crystal Report (CR for CDSL) of the target Demat Account duly signed and stamped by the target DP official.

9. Pattern of Holder(s) need to be match with Source Demat Account.

10. Such requests to be marked as “TCW” and send to DP CPU – TCW closure request not to be initiated in Debos system.

Depository Concepts

A Depository is like a bank where securities are held in electronic form. There are two Depositories in India – National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL).

Under the Depositories Act, investors can use the services of these Depositories through Depository Participants (DP) such as HDFC Bank.

Types of account include:

Resident Individual

Hindu Undivided Family (HUF)

Domestic Corporate

Non-Resident Indian (NRI)

Clearing Member (Pool Account)

Commodities

Margin

Dematerialisation of Securities

This involves converting your Physical Securities into an electronic format.

Since Stock Exchange transactions can be handled in Demat form only, it is good to hold your securities in electronic form. This way, it’s easy to make a transfer to another account and you will not attract stamp duty.

Points to Remember:

Submit original certificates with a Demat Request Form (DRF)

Ensure that you have signatures from all account holders

Certificates should state ‘Surrendered for De-materialization’ your client ID and DP ID

Make your DRF submission in triplicate, or as requested by your DP

When HDFC Bank has received the DRF and certificates, we will:

Verify all names as per our records

Verify all signatures as per our records

Forward the certificates to the relevant Registrar or Company

The De-materialisation credit process normally takes around 30 days but may vary depending on the Registrar and Company. If your securities have not been credited after 30 days, please contact us at www.hdfcbank.com/services and we shall assist you to coordinate with the Company / Registrar to receive your demat credits.

If your request is rejected, please contact the branch where it was submitted. We will help to rectify and resubmit your Demat request.

Dematerialisation Credit

After receiving the securities certificates and DRF, the Registrar/Company will process the request and arrange to credit the equivalent quantity into your Demat Account. This process takes around 30 days but may vary from one Registrar/Company to another.

You may verify your monthly Demat transaction statement in months when transactions occur. You can also check your statement on the bank’s website, if you are a customer and have linked your Demat Account. The status will be reflected as "Pending Demat" till the time the electronic credit is made to your account. Once the credit is made, it will be reflected / added in the beneficiary balance.

An SMS is also sent to you, intimating you of demat credits.

Rejection of Demat Requests

In case your Demat request is rejected, kindly contact the branch where it was submitted for assistance on receipt, rectification and re-submission of your demat request.

An SMS is also sent to you, intimating you of demat rejection.

You may arrange to re-submit the securities to us for Dematerialisation, after necessary rectifications. Please ensure that a fresh DRF is submitted and not the one that has just been rejected.

Transmission-cum-Demat

In case security certificates are held jointly with a person who is deceased, the surviving holders can submit the certificates along with an original / notarized / gazette attested copy of the death certificate of the deceased and a ‘Transmission cum Demat’ form. The combination of names of the surviving holders on the certificates and on the account may be in the same or reverse order.

Ensure that an application, in the required format, is submitted along with each DRF.

Transposition cum Demat



In case security certificates are held jointly but the order of names on the certificates do not match exactly with the order of names in which the Demat Account is held, then the holders can submit a 'Transposition cum Demat' form along with the DRF and certificates to enable Demat of these certificates into such a Demat Account.

Eg. Certificates held by A & B or A & B & C can be dematted into a Demat account held by B & A or C & B & A respectively.

Disclaimer:

Whatever has been stated above is in the best interest of the Investor / Demat Applicant / holder to provide a brief picture about the depository system. You are requested go through the guidelines of the depositories before taking any further action. For detailed guidelines, you are requested to approach your nearest HDFC Bank branch. HDFC Bank will not be responsible for any misunderstanding / act based on the above. Also HDFC Bank might ask for additional information / documentation than what has been stated above to process your application / instruction.





Instruction Slip Processing

Instruction slips are just like cheque leaves, but they must be clearly signed by all account holders. Make sure you keep them securely and submit on time for timely execution.





Market Transactions should include:

CMBP ID of your broker

CM name of your broker

Market Type

Settlement Number

ISIN Number

Scrip Name

Quantity in Numbers

Quantity in Words

Execution Date

Off-Market Transactions should include:

DP ID

DP Name

Client ID

ISIN Number

Scrip Name

Quantity in Numbers

Quantity in Words

Execution Date

Please note that you will also need to provide a reason for the Off-Market Transaction, along with a Consideration amount (if any).

Securities Lending and Borrowing (SLB) should be submitted on the trading day

Electronic Instruction through Speed-E & Easiest can be self-submitted, meaning there is no need for a physical instruction

Inter-depository Transactions involve a transfer of securities between two Demat Accounts held in two different depositories





Conversion & Redemption of Mutual Funds

Conversion of Mutual Funds

Conversion of Mutual Fund (MF) units held in Statement of Account (SOA) form to Demat form. This involves converting your MF units held vide physical SOA into an electronic Demat format similar to dematerialisation of Physical Securities.

This way you can conveniently manage all your investments in securities and mutual funds in a single Demat Account without the hassle of handling physical paper.

Points to Remember:

Submit original SOA with a Conversion Request Form (CRF)

Ensure that you have signatures from all Account holders

Make your CRF submission in triplicate, or as requested by your DP

When HDFC Bank has received the CRF and SOA, we will:

Verify all names as per our records

Verify all signatures as per our records

Forward the request documents to the relevant Registrar or AMC.

The Conversion credit process normally takes around 30 days but may vary depending on the Registrar and AMC. If your MF units have not been credited after 30 days, please contact us at www.hdfcbank.com/services and we shall assist you to coordinate with the Company / AMC to receive your MF demat credits.

If your request is rejected, please contact the branch where it was submitted. We will help to rectify and resubmit your Conversion request.

An SMS is also sent to you, intimating you of MF demat credits / rejects.

You may avail Transmission cum Demat and Transposition cum Demat services in the Conversion process also in coordination with your DP & the Registrar / AMC.

Redemption of Mutual Fund Units held in your Demat Account

This is where you opt to redeem Mutual Fund units held electronically in your Demat Account for their monetary value.

When we receive your Redemption Request, we will:

Verify names

Verify signatures

Process your request and electronically intimate to the Registrar or AMC.

The monetary proceeds are sent by the Registrar or AMC directly to your Bank Account or address registered for the demat account through which the redemption was requested.





Re-materialisation of Securities

This is where electronic securities are converted into physical securities – the reverse of de-materialisation. It is important that you refer to your tariff or branch for remat charges during submission of your remat request.

Commodity customers can submit their Physical Delivery Request Form for collection of commodities from the warehouse. This process is also called remat of commodities.

Ensure that:

Request RRF is signed by all account holders

One RRF per ISIN per account is submitted

When we receive your RRF, we will:

Verify names

Verify signatures

Process your request and forward it to the Registrar or Company

The physical security certificate is sent by the Registrar or Company directly to your address registered for the demat account through which the remat has been requested.

Pledge of Securities

Demat Accounts of both the pledgor (borrower) and the pledgee (lender) should be in the same depository.

The Pledgor must initiate the pledge by submitting us the Pledge Request Form (Annexure W) with the details of the securities to be pledged

The pledgee should confirm the request through his DP.

Post this, the securities are pledged and will lie in the pledgor’s account in 'Pledge' status.

Please note that all the financial transactions between the pledgor and the pledgee are handled outside the depository system.

Pledge Creation

The Pledgor must initiate the pledge by submitting us the Pledge Request Form (Annexure W) with the details of the securities to be pledged

Pledge Confirmation

The pledgee(s) should confirm the request through their DP.

Pledge Closure

Any one of the below two options can be excerised for pledge closure- a)The Pledgee(s) can close the pledge through the ‘Unilateral’ closure via their Demat Account for freeing the shares in the Pledgor’s Demat Account b)The Pledgor needs to submit the Pledge Closure request to his DP, which will be confirmed by the Pledgee's DP for freeing the shares of the Pledgor



Invocation of Pledge

If a Pledgee(s) wishes to take securities into their Demat Account (typically in case of default by the Pledgor) they can invoke the shares without any further instruction from the Pledgor.

Freezing/De- freezing

It’s possible to freeze your Demat Account at Account level, ISIN (Stands for International Securities Identification Number (ISIN). It is a unique 12-character alpha-numerical code for a security so you can trade in that security. Securities for which ISINs are issued include bonds, commercial paper, equities and warrants.) level and Quantity level by submitting a freeze request signed by all the account holders.

For De-freezing the above level freeze a separate de freeze request in prescribed format is required.

Nomination

Nomination can be made only by individuals holding beneficiary owner accounts on their own behalf singly or jointly. Non- individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family, Holder of power of attorney cannot nominate. If the account is held jointly, all joint holders will sign the nomination form. Nomination in respect of the beneficiary owner account stands rescinded upon closure of the beneficiary owner account. Similarly, the nomination in respect of the securities shall stand terminated upon transfer of the securities. Transfer of securities in favour of a Nominee shall be valid discharge by the Depository against the legal heir. The cancellation of nomination can be made by individuals only holding beneficiary owner accounts on their own behalf singly or jointly by the same persons who made the original nomination. On cancellation of the nomination, the nomination shall stand rescinded and the Depository shall not be under any obligation to transfer the securities in favour of the Nominee. A minor can be nominated. In that event, the name and address of the Guardian of the minor nominee shall be provided by the beneficial owner. Birth certificate of minor nominee, Guardian proof of identity is required.

Corporate Benefits

Monetary

In the case of benefits such as Dividends, Interest and Refunds the company concerned processes the same through the ECS (Stands for Electronic Clearing Service. It is a mode by which funds are automatically debited to your account every month to pay or a certain bill or fee. It helps so you don’t have to remember every month to pay your regular bills. It is only done after a standing instruction is given by the account holder.) route, crediting your bank account details available on the date of entitlement. Hence account holders should update their dividend bank details along with the MICR and IFS code in their Demat Accounts.

Non-Monetary

In the case of benefits such as Bonuses and Rights, the necessary intimation and forms are dispatched by the Registrar and Transfer Agent or Company on the day of entitlement.

Similarly, in the case of Open Offers and Buybacks, and or any other corporate actions like Mergers, Demergers and Amalgamations, the necessary communication will be mailed to your address available in your Demat Account.

With Buybacks and Open Offers the balance shares, if any, will be credited back to your Demat Account directly by the relevant Registrar and Transfer Agent or Company.

Similarly, in the case of Open Offers and Buybacks, and or any other corporate actions like Mergers, Demergers and Amalgamations, the necessary communication will be mailed to your address available in your Demat Account.

With Buybacks and Open Offers the balance shares, if any, will be credited back to your Demat Account directly by the relevant Registrar or Company.

Statements

The customers opted for statement by email facility will get statements through email.

For any queries or information related to Demat Account or you would like to offer feedback, please write to us at www.hdfcbank.com/services

If the first account holder has a Savings or Current Account with HDFC Bank it is also possible to register for NetBanking and DP on Net.

Change of Address

To change the address in your Demat account, the following documents are required-

Change of address in prescribed format signed by all the account holders.

Self attested proof of identity of all the account holders.

Self attested proof of new (Correspondence/Permanent) address in the name of first holder.

New Address Proof

On updation of new address a confirmation letter will be sent to the old and new address.

Change of Signature

To change the signature of holder(s) in demat account, the following documents are required-

Change of signature request in prescribed format signed by all account holders.

Holder(s) of the demat account whose signature is to be changed should visit the branch for submitting the application. New signature(s) of holder(s) should be attested by Banker.

Self attested proof of identity of account holder(s) whose signature is/are to be changed. Reason for change of signature.

New signature affixed on the application must match with the signature affixed in presence of attesting authority.





Change Bank Account Details

Change of dividend bank account, the following documents are required-

Change of dividend request in prescribed format signed by all account holders. First holder of demat account should be one of the holder in bank account. Details mentioned on the request should match with the proof of bank details.

For updation of Dividend Bank details other than HDFC Bank Limited, any of the following documents are required -

Specimen copy of cheque / cancelled cheque leaf having name of account holder where the cheque book is issued. In case if holder name is not printed on cheque, provide any one of the document mentioned in serial no. b,c,d.

Copy of Bank Statement having name and address of holder

Copy of Bank Passbook having name and address of holder

Letter from Bank

In case of HDFC Bank Limited, Saving account/Current account / CC OD account the document mentioned above in sr. no. a, b, c, d are not required.

The documents mentioned above in serial no. a, b, c, d must contain the Bank Name, Branch Address, IFSC / MICR Code, Name of the Account Holder and Account Number.

Power of Attorney (POA)

It is possible to register a POA, allowing another individual to operate your Demat account.

Please ensure:

The POA holder meets the KYC guidelines of HDFC Bank

A notarised copy the POA is submitted, including the signature of the Donor and Donee.

At least the minimum clauses advised by NSDL are held by the POA

ID proof of the power of attorney holder is furnished

Photograph is signed across

A Consent Letter is provided

Mobile number for the SMS facility is offered by Depository

Transmission

In the case where an account holder has passed away, it is possible to transfer securities to surviving holders, valid nominees or legal heirs.

Surviving Holders

Can have the securities transmitted into their accounts by maintaining or opening the Demat Account in the same holding pattern, excluding the deceased holder.

Can have the securities transmitted into their accounts by maintaining or opening the Demat Account in the same holding pattern, excluding the deceased holder. Nominees

In the case of death of the sole or all holders of a Demat Account, and if a valid nomination is registered, the nominee can make a request. This should be submitted with a notarized copy of the Death Certificate/s.

In the case of death of the sole or all holders of a Demat Account, and if a valid nomination is registered, the nominee can make a request. This should be submitted with a notarized copy of the Death Certificate/s. Legal Heir(s)

If there are no surviving joint holders, and no nomination registered, the transmission can be effected to the account of the legal heir. A Succession Certificate or Probate of Will or letter of administration duly notarized should be submitted.





Demat Fees

Transaction charges are monthly, and include NSDL and CDSL charges.

You will receive these details in your monthly statement.

De-materialisation charges are incurred monthly, and Annual Maintenance Charges are added at the expiry of every 12 months for the next year.

All charges are debited from the authorised Savings or Current Account.

Closure of Account

Closing an account requires the submission of a form signed by all members. If there is any holding in the account this should be transferred before closure, which requires a valid Demat Account number.

If there is a pending de-materialisation, the Account cannot be closed. However Demat Account holders can request the DP to Cancel their Pending Demat Request electronically in the Depository system.

Please also ensure there are no pending corporate actions, as this could mean the Registrar or Company involved cannot credit the securities as required.

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