Demat Account: If you have multiple demat accounts and want to transfer them to each other account, then there is also an option. There are two ways to transfer one demat account to another account.
Demat Account: It is very important to have a demat account in buying and selling shares in the stock market. Just like a savings account is required to deposit money in the bank, a demat account is required to keep shares in electronic form. Like a bank account, you can also keep more than one demat account.
However, if you have multiple demat accounts and want to transfer them to each other's account, then there is also an option. There are two ways to transfer one demat account to another account. This work can be done both online and offline.
Why do you Transfer Demat Accounts?
There can be many reasons for transferring a demat account. According to Kotak Securities, transferring one demat account to another account is quite an easy task. However, there can be many reasons for transferring it. Many times there is a problem in maintaining multiple demat accounts running simultaneously.
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Apart from this, many times people can also transfer multiple demat accounts to save the brokerage amount. The way to transfer demat account online is quite easy.
For this, Central Depository Securities Limited (CDSL) gives you a feature of EASIEST. Through this, you can easily transfer the demat account to another demat account. Through these steps, you can easily transfer demat account online.
➢ First of all, visit the CDSL website.
➢ Click on register online link
➢ Select the EASIEST option
➢ Fill in your details here and take a printout
➢ Send this print to the Depository Participant (DP)
➢ DP will send it to the Central Depository and verify the details
➢ Login credentials will be available on mail after 1-2 days
➢ You can see the list of brokers by logging in
How to transfer Demat Account Offline?
To transfer offline, you must first get a delivery instruction slip (DIS) from your brokers. In this slip, details related to transferring shares will have to be given. Only after filling these details will you be able to transfer your shares. Here's what details have to be filled in the slip.