SBI Demat account: Know important features and benefits

SBI is a Depository Participant registered with both NSDL and CDSL and is operating its DP activity through more than 1000 branches

Purpose of opening a Demat account is to hold shares that have been bought or dematerialised (converted from physical to electronic shares). Source:Reuters

SBI Demat account: Want to know the benefits of a demat account opened with the State Bank of India (SBI)? Read this space to know the features of an SBI Demat Account and its benefits.

A demat account or dematerialised account is an account that is used to hold shares and securities in electronic format. The purpose of opening a Demat account is to hold shares that have been bought or dematerialised (converted from physical to electronic shares).

In India, National Securities Depositories Limited (NSDL) and Central Depository Services Limited (CDSL) provide free demat account service through intermediaries - banks, depository participant or stock broker.

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In case of SBI, demat and online trading account will be held in the books of SBI Cap Securities Ltd.

SBI is a Depository Participant registered with both NSDL and CDSL and is operating its DP activity through more than 1000 branches. Its Power Demat Account offers you the following features:

Features of SBI Demat Account:

-- Account Maintenance & Safe custody : Facilitates Maintaining Security Balance in electronic form

-- Dematerialisation: Facilitates converting physical share certificate into electronic balances

-- Rematerialisation: Facilitates converting the electronic balances to physical (share certificate) form

-- Account Transfers: Facilitates delivery/receipt of electronic balances consequent to market / off-market trades

-- Pledge/Hypothecation: Facilitates blocking securities balance of borrowers in favour of lenders for obtaining Loans / advances against shares

-- Initial Public offer: Facilitates faster and direct credit of security balances into DP account on allotment through public issue of companies

-- Disbursement of corporate benefits: Facilitates faster and direct credit of security balance into DP account on account of non-monetary corporate benefits as bonus and rights issues

--Security Lending: Facilitates earning extra income on your dematerialized holdings by the way of securities lending

SBI Demat Account benefits:

-- Customer Care available 24X7

-- Demat account can be operated from any of the 1000 plus Demat enabled branches of SBI

-- E-mail statements

-- Paper free facility that lets you operate from the comfort of your home or office through SBI's Internet Banking Facility - www.onlinesbi.com

-- Mobile Alerts: SMS alerts for all debits/credits as well as for any request which cannot be processed

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-- eZ-trade@sbi : In case you want an Online Trading Facility, you can have it with SBI Cap Securities. This service provides you with a 3-in-1 account which is an integrated platform of Savings Bank A/c, Demat A/c and Online Trading A/c to give you a convenient and paper free trading experience.

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