Oriental Bank of Commerce : Demat Account Application

Name of the Organisation : Oriental Bank of Commerce (obcindia.co.in)
Type of Facility : Demat Account Application
Location : Gurgaon

Website : https://www.obcindia.co.in/

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Demat Account :
Similar to opening a Bank Account to save money, make payment, transfers etc. you need to open a Demat account if you want to buy or sell stocks.

It is just like bank account where actual money is replaced by shares.

You don’t need to have possession of any physical certificate showing that you own these shares. They are all held electronically in your account.

As you buy and sell the shares, they are adjusted in your account.

Now days, practically all trades have to be settled in dematerialized form.

So a Demat account is a must for trading and investing.

Benefits of Demat Account :
A safe and convenient way to hold securities.
** Immediate transfer of securities.
** No stamp duty on transfer of securities.
** Elimination of risks associated with physical certificates such as bad delivery, fake securities, delays, thefts etc.
** Reduction in paperwork involved in transfer of securities.
** Reduction in transaction cost.
** No odd lot problem, even one share can be traded.
** Nomination facility.
** Change in address recorded with DP gets registered with all companies in which investor holds securities electronically eliminating the need to correspond with each of them separately.
** Transmission of securities is done by DP eliminating correspondence with companies.
** Automatic credit into Demat account of shares, arising out of bonus/split/consolidation/merger etc.
** Holding investments in equity and debt instruments in a single account.

Benefits of Oriental Bank of Commerce :
** We are DP of both NSDL & CDSL.
** We have 298 Branches all over the Country.
** Competitive fees.
** Online execution of transactions.
** Concessional rates for senior citizens, online trading & Speed-e.
** Special rates for stock market intermediaries / sub brokers.
** Regular transactions update from back-office.
** SPEEDe, IdeAS, STEADY, SPICE (NSDL) & Easy, Easiest, TRUST (CDSL).
** DP empanelled with commodity exchange.
** SMS alert for debits/credit in Demat accounts registered for SMS facility. This service is offered free of cost.

We also provide special services like :
For NSDL :
(a) SPEED-e for submitting delivery instructions directly on the Internet through SPEED-e website https://eservices.nsdl.com
(b) IDeAS (Internet-based Demat Account Statement) for viewing balances and transactions in account updated on an online basis with a delay of maximum 30 minutes.
(c) STEADY (Securities Trading – information Easy Access and Delivery) for brokers to deliver contract notes to custodians and/or fund managers electronically.
(d) SPICE(Submission of Power of attorney based Instructions for Clients Electronically)- Clearing Members (Clients who have given Power of Attorney (POA) in favour of the Clearing Member) can submit auto pay-in instructions to Participants (where Clients maintain demat accounts) on SPEED-e facility to debit the demat accounts of the Clients and credit their Clearing Member (CM) Pool Accounts. Thus, eliminating the need to give paper based delivery instructions to the Participants.

For CDSL :
(a) Easi provides facility of viewing/ downloading / printing of statement of holding with valuation, details of transactions, status of delivery instruction in demat account.
(b) Easiest – You can transfer securities from your demat account through Internet. By registering to easiest you can also avail of all the facilities offered through easi’.

(c) TRUST (TRansactions Using Secured Texting) :
Beneficiary Owner can send an SMS to confirm delivery instructions uploaded by the Broker for trades done on a stock exchange through any mobile phone with Android Operating System (OS). On giving confirmation through TRUST, BOs need not submit a physical DIS to their DP for market related transactions.

Demat the Mutual Fund Unit :
Now Mutual Fund unit can be Demated into the existing Demat Account, for availing this service you can submit the duly filled “Mutual Fund Demateralisation Form” along with the latest Mutual Fund “Statement of Account” at the our Demat Branches.

How to Open :
To avail the services of a depository an investor is required to open a Beneficial Owner (BO) account with a Depository Participant (DP) of any depository.

Please visit your nearest Oriental Bank branch and fill the account opening form. The account opening form must be supported by copies of any one of the approved documents which serve as proof of identity (POI) and proof of address (POA) as specified by SEBI.

Please carry original documents for verification.

Download Application Form Here : http://www.obcindia.co.in/obcnew/sit…s=3&menu_id=58

Charges :
For charges please click Rate structure for NSDL/CDSL Depository Services (Click here) attached file is in PDF Document Format

Helpdesk :
For Complaints pertaining to Demat Services please e-mail at depository_mum@obc.co.in

Write To Us At :
Oriental Bank Of Commerce,
Depository Services,
Aman Chambers, 2nd Floor,
483, Veer Sarvakar Marg,
Prabhadevi,
Mumbai 400025.