Mul­ti­ple Ac­counts and Mul­ti­ple AMCs

Consumer Voice - - Bfsi -

If you are one of those who hold mul­ti­ple de­mat ac­counts, only one of which is ac­tively used by you for trans­ac­tions, then you can re­duce the an­nual main­te­nance cost charged by bro­ker­ages. These costs no longer re­main the minis­cule sum that they hitherto were. To­day, an­nual main­te­nance costs range from Rs 650 to Rs 1,100 per an­num. One usu­ally fails to ac­count for the de­mat ac­count charges while cal­cu­lat­ing the over­all stock gains. But an Ahmed­abad-based se­nior citizen is now able to save Rs 4,500 a year as he con­sol­i­dated the hold­ings of seven de­mat ac­counts he held into one. He had to take some pains as the many of these de­mat ac­counts were jointly held with dif­fer­ent fam­ily mem­bers. But if you have opened dif­fer­ent ac­counts just to seg­re­gate the hold­ings or gave in to the low-bro­ker­age of­fers by var­i­ous firm, then it would be eas­ier for you. So, how do you go about trans­fer­ring the shares from one de­mat ac­count to another un­der var­i­ous cir­cum­stances?

Nor­mal trans­fer

The cheque­book-like slips – also called de­liv­ery in­struc­tion slips – is­sued while open­ing a de­mat ac­count can be put to use for a nor­mal trans­fer of shares. You will have to fill in the de­tails of the shares to be

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