If you’re considering opening a demat account with Punjab National Bank (PNB), it’s important to understand its various associated charges. PNB is one of the leading banks in India, offering demat services to investors who wish to hold their securities in electronic form. This article will break down the PNB demat account Charges and Fees, helping you make an informed decision.
Firstly, PNB charges an account opening fee for all Demat accounts. For individuals, two types of demat accounts are available- regular and basic services. The regular demat account offers all services, including buying, selling, and holding of securities, while the basic services demat account only offers the holding of securities. PNB charges an annual maintenance fee for regular demat accounts and basic services demat accounts.
PNB also charges a transaction fee every time you buy or sell securities. This fee is calculated based on the value of the transaction. Additionally, there may be charges for the depository participant (DP) to Transfer securities and/or money to and from your demat account. It’s important to check with your PNB branch for the most up-to-date fees and charges.
Let’s get started.
PNB Demat Account Charges
PNB offers its customers a Demat account to Hold electronic securities. The Demat account charges are the fees charged by the bank for availing the Demat account services. In this section, we will discuss the various charges associated with a PNB Demat account.
PNB charges a transaction fee for buying and selling securities through the Demat account. The transaction charges are a percentage of the value of the transaction and vary depending on the type of security traded. The transaction charges for equity delivery trades are 0.04% of the transaction value, while the charges for equity Intraday trades are 0.025% of the transaction value.
PNB charges a pledge fee for pledging securities held in the Demat account as collateral for a loan. The pledge charges are a percentage of the value of the securities pledged and vary depending on the type of security pledged. The pledge charges for equity shares are 0.02% of the value of the securities pledged.
Dematerialization and Rematerialization Charges
PNB charges a fee for converting Physical securities into electronic form (dematerialization) and vice versa (rematerialization). The charges for dematerialization and rematerialization are Rs. 5 per certificate or Rs. 50 per request, whichever is higher.
Annual Maintenance Charges
PNB charges an annual maintenance fee for maintaining the Demat account. The annual maintenance charges for a PNB Demat account are Rs. 500 per year.
PNB also charges other fees for availing Demat account services. Some of the other charges are:
- DP charges: PNB charges a DP (Depository Participant) charge for availing Demat account services. The DP charges for a PNB Demat account are Rs. 13 per transaction.
- Account freezing charges: PNB charges a fee for freezing the Demat account. The account freezing charges for a PNB Demat account are Rs. 100 per request.
- Demat account opening charges: PNB charges a fee for opening a new Demat account. The demat account opening charges for a PNB Demat account are Rs. 100.
- Annual charges: In addition to the annual maintenance charges, PNB may also charge other annual fees for availing Demat account services.
It is important to note that the above-mentioned charges are subject to change at the discretion of the bank. Customers are advised to check the PNB website or contact the bank for the latest fees and charges.
In conclusion, opening a demat account with PNB can be a great move if you’re looking for a reliable and affordable way to manage your investments. While there are some charges to consider, such as the account opening fee and annual maintenance charge, PNB’s competitive rates make it a wise choice for investors who value transparency and trustworthy service.
Here are the key takeaways to remember:
- PNB offers multiple Types of demat accounts to meet your needs
- PNB’s fees are among the most affordable in the market
- PNB makes it easy to manage your investments online or through their mobile app
- PNB’s strong reputation for security and reliability offers peace of mind for investors
Overall, PNB’s demat account offers many benefits for those looking to manage their investments in a hassle-free and cost-effective way. By choosing PNB, you can stay on Top of your investments and make informed decisions without breaking the bank.
Frequently Asked Questions
What are the charges for opening a PNB demat account online?
PNB offers online demat account opening services to its customers. The charges for opening a demat account online with PNB are not listed on their website. However, it is advisable to contact the bank’s customer care or visit the nearest PNB branch for more information.
How do I login to my PNB demat account?
To log in to your PNB demat account, you need to visit the PNB Depository Services website and enter your User ID and Password. If you have forgotten your User ID or Password, you can reset it by clicking on the “Forgot User ID/Password” link on the login page.
What is the DP ID for PNB depository?
PNB Depository Services is a registered Depository Participant (DP) with both National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). The DP ID for PNB Depository Services with NSDL is IN300708, and with CDSL is 12047800.
How do I close my PNB demat account?
To close your PNB demat account, you need to visit the nearest PNB branch and submit a written request for account closure. You also need to surrender the unused Delivery Instruction Slip (DIS) Booklet and the unused.
What is the customer care number for PNB demat account?
For any queries related to PNB demat account, customers can contact PNB’s customer care at 1800 180 2222 or 1800 103 2222. Alternatively, customers can also send an email to email@example.com.
Which bank offers the lowest demat charges?
The demat charges vary from bank to bank and also depend on the type of account and the volume of transactions. Customers are advised to compare the demat charges of different banks before opening a demat account. Some banks that offer low demat charges include Zerodha, Upstox, and 5paisa.