Transferring Stock Between NSDL Demat Accounts

#1
I have 2 trading accounts - ICICIDirect & Kotak Securities. ICICI has a 0.5% brokerage & Kotak has 0.26%. Both have their own linked NSDL Demat Acct.

So I was thinking of moving stock from my ICICI NSDL Demat Acct to Kotak NSDL demat Acct, that will save me some money on brokerage while selling.

Are there any other caveats I need to be worried about?

Also, other than Equity, I also have debt funds & Corporate FDs, Tax Free Bonds etc bought through ICICIDirect. What would happen to those if I close my ICICIDirect account?
 
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Alchemist

Administrator
Staff member
#2
Are there any other caveats I need to be worried about?

Also, other than Equity, I also have debt funds & Corporate FDs, Tax Free Bonds etc bought through ICICIDirect. What would happen to those if I close my ICICIDirect account?
Tax free bonds are in the demat account and thus can be moved like shares.

I will have to check for debt funds and fixed deposits. As far as I know fixed deposits are linked to your bank account and thus the status of your demat account doesn't matter.
 
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