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Geojit Account Opening Charges
Are you looking for a complete Geojit Review? Geojit, backed by banking giant BNP Paribas, revolutionized the industry by introducing online mobile trading in 2010. As a leading full-service brokerage firm, Geojit offers a wide range of investment options, including derivatives, shares, commodities, mutual funds, currencies, and insurance products. With comprehensive portfolio management and financial planning services, Geojit is a one-stop destination for all your investment needs.
Open an account with top broker Zerodha or go through our Geojit Review to know all about this major Indian broker, including its pros, cons, charges, customer service and more.
Geojit Review: Geojit Account Opening Charges
Geojit offers a seamless account opening experience with no charges for opening a trading account and no annual maintenance charges for both trading and demat accounts.
Also, there are no fees for opening a demat account.
However, there is an annual maintenance charge of Rs 700 for maintaining a demat account, which is payable annually.
Geojit Review: Geojit Account Types
Geojit provides various types of accounts to cater to the needs of different customers. There is a 2-in-1 (Demat & Trading) account as well as 3-in-1 accounts in partnership with PNB bank, which include:
- Geojit Demat account,
- Geojit Trading account, and
- A PNB savings account.
This arrangement allows trading in commodities, futures & options, stocks, and currencies. For customers with accounts in other banks, such as ICICI, HDFC, and Axis, it is possible to open an online Demat cum Trading Account. These accounts provide access to trading in IPOs, derivatives, equity, commodities, mutual funds, currency, and portfolio management services.
Geojit also facilitates NRI clients to open NRI trading and demat accounts. NRIs can avail of Geojit’s investment advisory and portfolio management services and trade in mutual funds, IPOs, equity derivatives, BSE and NSE listed shares. The company has partnered with several banks to link NRI bank accounts to NRI demat and trading accounts. It has also established partnerships with local offices in the Middle East to assist NRI clients.
It also has a Global Investment Account in collaboration with Stockal, a global wealth management platform, which allows digital investments in over 5,500 ETFs and US stocks. There are many benefits, such as:
- No monthly charges,
- No minimum investment requirements,
- Seamless fund transfers to a US brokerage account,
- Fractional stock trading,
- Portfolio diversification through US stocks,
- Quick digital account opening, and
- Round-the-clock customer support.
To sum up, customers can choose from:
- Geojit Trading and Demat Account
- Geojit NRI Trading & Demat Account
- Geojit Global Investment Account
Take a break from reading this Geojit review and go through our post on the Best Bonus Shares: Top Companies in H1 of 2023 in India.
Geojit Review: Geojit Brokerage Charges
A full-service broker, Geojit offers a range of brokerage services. It offers a 2-in-1 type account, combining trading and demat accounts. Its brokerage rates vary depending on the service type.
- For equity delivery, the brokerage is 0.30% or 30 paisa per trade.
- For equity intraday it is 0.03% or 3 paisa per trade.
- For equity futures, the brokerage is 0.01% per trade.
- In equity options trading, it charges Rs 50 per lot.
- For commodity trading, the brokerage is 0.05% for both buying and selling.
- For commodity options, it is Rs. 150 per lot.
- Geojit also offers currency futures trading with a brokerage of 0.03% or 3 paisa.
- It offers currency options trading at Rs 50 per lot.
Keep reading our Geojit review after checking our post on Stocks, IPO or Mutual Funds: Which is the Better Investment Option for You?
Geojit Review: Geojit Trading Pros
Geojit Trading offers a multitude of advantages for traders and investors.
- It provides the opportunity to trade and invest in a wide range of assets, including stocks, derivatives, commodities, and currencies, allowing for diversified investment strategies.
- It has zero charges for account opening and zero Annual Maintenance Charges (AMC), making it cost-effective for users.
- Traders can benefit from a margin trading facility with up to 4 times exposure, allowing for leveraged trading opportunities.
- Geojit offers the convenience of a 3-in-1 account, combining Geojit Trading, Geojit Demat, and a PNB savings account.
- It also enables users to invest in smartfolios, which are baskets of stocks carefully curated to suit specific investment goals. This allows for efficient portfolio diversification.
- Furthermore, Geojit Trading provides access to in-depth research on mutual funds and stocks at no additional cost, enabling informed investment decisions.
- For comprehensive financial planning and investment advisory services, Geojit Trading offers STEPS, ensuring personalized guidance for achieving financial goals. Users can also apply for Initial Public Offerings (IPOs) and invest in mutual funds through the platform.
- It ensures a secure and user-friendly trading experience with its SELFIE superfast platform, available in app, web, and desktop versions.
- Also, the dedicated FundsGenie app platform allows for convenient management of mutual fund investments.
- In case of any queries or concerns, Geojit Trading provides excellent customer care support.
- Advanced features such as placing buy and sell Good Till Triggered (GTT) orders provide additional flexibility and control.
- Moreover, Geojit Trading offers loans against shares, providing access to funds when needed.
Geojit Review: Geojit Trading Cons
There are some limitations as well.
- In comparison to other full-service brokers like Angel One and Edelweiss, Geojit’s brokerage fees are comparatively higher.
- Also, iOS users do not have access to the FundsGenie mutual fund app.
Open an account with Angel One or keep on reading our Geojit review.
Geojit Review: Geojit Customer Service
To facilitate effective communication, the broker has established a dedicated portal where customers can register their complaints or issues, monitor the turnaround time, and receive personalized solutions. This proactive approach allows Geojit to keep users informed about the progress of their raised concerns through the ticket system.
In addition to the portal, customers can also reach out for support via email or telephone. Geojit offers a toll-free number that clients can call, as well as the option to visit any of the Geojit branches for assistance. For self-service support, the broker has implemented Whatsapp chatbot and Telegram bot channels, enabling users to find answers and solutions on their own. The availability of these customer service options is extended 24/7, ensuring that clients can access assistance whenever needed.
To further facilitate communication, Geojit provides:
- Geojit Knowledge Center, at https://insights.geojit.com/.
- Geojit Customer Support Email, at customercare@geojit.com;
- Geojit Customer Care Phone Numbers – 1800-425-5501, 1800-103-5501, and 91-484-2405822;
Conclusion
As you can find out from this Geojit review, despite some limitations, the broker offers a commendable service with multiple channels for support. With its seamless account opening experience, various account types, and NRI trading facilities, the broker caters to the diverse needs of investors. The brokerage charges are competitive, and it provides numerous advantages. Overall, it can be a reliable choice if you are an investor in search of a trusted brokerage partner.
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