Geojit Demat Account

Geojit financial services ltd based in Kochi, Kerala, and in 21 different states of India is one of the largest full-service stockbrokers in India. It is a registered member of SEBI, NSE, BSE, NSDL, and CDSL and offers a seamless way to open the Geojit Demat Account.

Since Geojit allows you to trade with the major stock exchange of India like NSE, it is good to learn how to open NSE account to know about the topic in more detail.

The firm was taken over by the Paris France based bank BNP Paribas in the year 2007 and by 2016  BNP Paribas became on the major shareholder in Geojit.

By opening a Demat account with Geojit you would be able to avail of different products for investments including Equity, Equity Derivative, Currency, F&O, mutual fund investment, IPO, NRI trading, and lot more.

If you are interested in opening a Demat Account, then you can grab the complete information of Geojit Demat Account like charges, process and other features here.

So dive in!

Geojit Demat Account Review

Geojit a SEBI registered intermediary and the Depository Participant of NSDL and CDSL comes with the streamlined process to open the Demat Account.

With the Demat Account you would be able to hold your shares in an electronic form thus providing more security and safety to shares, debentures, government securities, etc.

The Geojit Depository Services is known for offering vast services like:

• Dematerialization
• Rematerialization
• Pledge
• Account Transfer
• Corporate Actons
• e-Services
• SMS service
• IPO like an allotment, issue, etc.

All the above Demat account services is offered at a very affordable price. Also, you can avail all these services by visiting the Geojit offices or online.

With its Demat account, the firm offers an additional service, SMS alerts for free. This service offers customer alert messages regarding the debit transaction, IPO share credit, overdue debit instructions, POA updates, registration of the Power of Attorney, and lots more.

Currently, the firm has more than 98,000 client base and a huge network of 479 offices.

Among its client’s list, Rakesh Jhunjhunwala is the maximum shareholder and operates through joint projects.

Apart from India, Geojit has its existence in Bahrain where it has a business association with the Bank of Bahrain and Kuwait.

Geojit 3 in 1 Account

Although Geojit is a full-service stockbroker offering the 2 in 1 account facility but with the tie-up with different banks has now made it easier for its clients to trade seamlessly across segments.

One of the reliable banks with which the broker has merged to offer the trading services is PNB. So if you opens a PNB Demat account, you can assure the security of shares and at the same time can trade across segments using the Geojit trading platforms.

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Geojit Demat Account Opening

Geojit brings the great opportunity of trade for the Geojit Demat account holders. Along with offering security to the shares and bonds, opening a Demat account with Geojit allows you to grab the complete information and investment advice from the research team.

With its outstanding performance, the broker offers complete satisfaction to the traders and investors.

To make the process of account opening simple and easier, it offers the provision to open the account online.

Geojit Demat Account Opening Online

Geojit Demat Account can be opened by a single person or joint holders. A maximum of three holders can apply to open the Demat account.

The customer can maintain a Demat account with Geojit and can reap the advantage of online trading. Thus, it offers the 2-in-1 account making the overall process simpler.

Here is the process to open the Demat account with Geojit online.

1. Visit the Geojit website and fill-up the form available online.
2. Fill the details like Name, Mobile number, email, state, and city.
3. You will receive an OTP to confirm your entries.
4. A call from the Geojit KYC team will be made to you who will then guide you in opening an account online.
5. They will also share a link containing the EKYC process.
6. For KYC information, you have to submit important documents like statements of the bank copy, passport size photograph.
7. Along with this, you need to submit other useful documents like address proof, telephone bill, voter’s id card, driver license, passport, etc.
8. On completing the process you will receive a verification call from the relationship manager.

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Willing to open the Demat Account, 

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Geojit Demat Account Opening Form

Apart from online you can also fill the form offline. For this you have to download the form from the website.

Here are the steps to open the Geojit Demat Account offline.

• Visit the website and download the form by clicking on the option (individual or non-individual).
• Save the form and read all the instructions carefully to avoid any delay in opening the account.
• Fill the details; Name, DOB, Gender, Citizenship, Occupation, PAN Card number.
• Enter the details of the identity proof and address proof by providing the complete details.
• Sign the form.
• Mark the facilities that you want to avail from the firm and choose the trading preference (NSE or BSE).
• Also, fill the nomination details by mentioning the share of the nominee.
• Once done, send the form to the main office or the nearby branch of Geojit in your state.

Geojit Demat Account Opening Documents

To open the Geojit Demat Account you have to submit some documents to keep records of an individual or company.

Here is the list of documents you must upload while opening the Demat account with Geojit.

• Bank statement copy not older than 3 months.
• Bank Details (passbook of the bank)
• Canceled cheque with the name of the account holder in the printed form.
• DP proof in the case the DP is different from the DP of Geojit.
• Identity Proof (Pan Card or Aadhaar Card)
• Address Proof (Passport, Voter ID, Driving License, Bank Passbook, a verified copy of Electricity bill, copy of ration card)

*Upload the copies of all the documents mentioned above. Make sure you self-attest them before submitting them.

Documents for NRI Demat Account

In case you are a Non-Resident Indian then along with the documents enlisted above you have to submit the copy of additional documents like:

• Copy of valid visa
• Proof of foreign address
• Copy of RBI approval via PIS permission letter for opening the account with the designated bank (IDBI bank, Federal Bank, South Indian Bank, Axis Bank, and State Bank of India)

Geojit Demat Account Login

Once you open the Demat account with Geojit, a confirmation email will be sent to you containing the instruction and the login credentials; User ID and Password.

You can use those credentials to log in to your 2-in-1 account and keep track of all the trading information to keep your trade in the track.

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Geojit Demat Account Charges

Geojit imposes certain charges for opening the Demat account. So, unlike other brokers here you cannot reap the leverage to open a free demat account.

Along with the opening charges, there are certain annual maintenance fees which the customer has to pay yearly.

Thus Geojit offers its customers to reap the benefit of Opening Geojit Free Demat Account.

Find all the charges information from the table below.

Geojit Demat Account Annual Charges

The AMC charges are paid every year to keep the account operative. The broker charges the minimum amount of ₹400 for individual Demat accounts while ₹1000 for the corporate account. Find the full details of AMC charges as per the account type in the table below.

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Geojit Demat Account Closure

If you are willing to close your Demat account with Geojit, then you can simply do it by submitting the account closure form.

Although closing the Demat account is quite complex than opening it, yet you can do it by following the right steps. Also, there is no charge to close the account.

But before processing your account closing request, there are some key points you should keep in mind like:

• Make sure that the Geojit Demat account that you are about to close does not contain any share. If there are any shares then make sure you transfer them to another active Demat account or sell them in the physical form.
• There should be no negative balance in the account. If any, then settle it before requesting for account closure.
• Return the issued delivery slips before closing the account.

Geojit Demat Account Closure Form

To close the Geojit Demat account, the complete process is offline. Below are the steps you should follow to process the closing of the account

• Visit the website and download the account closing form.
• Fill the details, sign it, and submit it to the nearest branch.
• You can also send the form via post.
• Do not forget to attach some documents like ID proof and address proof.

*In case of a joint account, get the form signed by all the account holders.

After all the validation and completion of formalities, the account close in 7-10 days.

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Geojit Demat Account Advantages

There are many advantages to opening the Geojit Demat Account. Some of the time are enlisted below:

• The firm has an experience of 30 years in the Indian Capital Market and thus can be highly trusted.
• It offers the provision of online trade to its customers.
• The broker has good support of the strong shareholders like BNP Paribas.
• It offers a wide range of trading and investment products and solutions thus providing the right financial guidance and investment advice to its customers.
• Along with this it offers services via multiple channels like internet, phone, and branch trading.

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Geojit Demat Account Disadvantages

There are many cons along with the advantages of opening the Geojit Demat account. Some of the top disadvantages are:

• The firm does not provide a 3-in-1 Demat account and therefore the customer has to use banking services from other banks.
• Also, there are high brokerage charges as compared to other brokers.
• The process for opening the Demat account is complex as compared to other competitive brokers.

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Conclusion

Geojit although offers the nominal brokerage fees and decent services to its customers. Having much competition the broker is still not characterized as one of the top brokers.

Before opening the account with the broker it is good to have a proper discussion with the executive to know the hidden charges, trading platform fees, etc to make a wise decision of opening the account.

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Frequently Asked Questions1

1. How to login to the Geojit Demat Account?

Once you are done with the account opening process with Geojit, the email will be sent to your registered email address. It contains the user instructions and the login credentials like user id and password. You can use the credential to access your Demat and trading account online. 

2. What is the Annual Maintenance Charge of Geojit Demat Account?

The best benefit of opening the Demat account with the broker is the zero AMC charges for a trading account while ₹400 for the Demat account. These charges are generally imposed to maintain the account. 

3. Is there any way to close the Geojit Account online?

No, there is no provision for closing the Geojit Demat Account online. You have to place the request offline by downloading and filling the form. Send it to the branch office by post or submit it to the nearest branch physically. 

4. What type of account is offered by Geojit?

Geojit offers the 2-in-1 account thus enabling its customer to reap the benefit of trading and Demat account in one fold. 

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