Table of Contents
Why Transfer Shares from HDFC Securities to Zerodha?
How to Transfer Shares from HDFC Securities to Zerodha?
How to Close HDFC Securities Demat Account?
Transferring your shares from one stockbroker to another is a common practice among investors, especially when you are looking for better services, lower brokerage fees, or simply consolidating your investments. If you have decided to make the move from HDFC Securities to Zerodha, you are in the right place. Go through a step-by-step guide on how to transfer shares seamlessly from HDFC Securities to Zerodha.
Open an account with Zerodha.
Why Transfer Shares from HDFC Securities to Zerodha?
HDFC Securities and Zerodha are two well-known names in the Indian brokerage industry, each with its own set of advantages and disadvantages.
While HDFC Securities is a respected name in the brokerage industry, Zerodha’s cost-effectiveness, advanced technology, and innovative features make it an attractive choice for many investors.
- Lower Brokerage Fees: Zerodha is known for its competitive brokerage rates. You can save significantly on trading costs, especially if you are an active trader.
- User-Friendly Platform: Zerodha offers a user-friendly and feature-rich trading platform that appeal to both beginners and experienced traders.
- Diverse Investment Options: Zerodha provides access to a wide range of investment options, including stocks, derivatives, commodities, mutual funds, and more.
- Robust Research and Analysis Tools: Zerodha offers excellent research and analysis tools to help you make informed investment decisions.
Transfer of shares from HDFC Securities to Zerodha can lead to substantial savings in brokerage fees and provide you with access to a more advanced trading ecosystem.
Read on: How to Transfer Shares from Groww to Zerodha Demat Account?
How to Transfer Shares from HDFC Securities to Zerodha?
There are various methods to carry out the process, and transfer stocks seamlessly from HDFC Securities to Zerodha.
Scenario 1: You want to keep your HDFC Securities Demat account.
You have to determine which Depository your account is linked with. This is your primary task.
Then, you have to follow these subsequent steps:
- Complete the DIS slip that HDFC Securities provided. It requires various details, including:
- The name of the stocks you want to move from HDFC Securities to Zerodha,
- The ISIN number, and
- The 16-digit demat account numbers of both the Zerodha and HDFC Securities accounts.
- If your current HDFC Securities account is registered under NSDL, choose the “Inter-depository transfer” option in the DIS form. If not, opt for the “Intra-depository transfer”.
- Once finished, submit your filled-out DIS form to HDFC Securities. Be prepared to pay any relevant fees associated with this HDFC Securities to Zerodha stocks transfer.
Please remember to always double-check your details for accuracy to ensure a smooth and successful transfer of shares from HDFC Securities to Zerodha.
Scenario 2: You want to close your HDFC Securities Demat account.
Follow these important steps:
- Submit a Client Master Report (CMR) along with DIS. The CMR includes critical data about your Zerodha Demat account, such as:
- PAN number,
- Client ID,
- DP ID, and
- Bank details.
- In case you do not have the CMR, you can request one from your broker, which in this situation is Zerodha. This procedure can be completed online, or you could also download a CMR copy from the Zerodha console online.
- Transfer of shares from HDFC Securities to Zerodha is possible through online platforms too. If you have an NSDL demat account, you can utilize speed-e. However, if your demat account is with CDSL, then the EASIEST platform can be used. It is a simple process – just register on the relevant platform and follow the provided instructions.
The aforementioned process is applicable only for transfers between identical account holders or within joint account holders. Please note that it does not permit transfers between different types of Demat accounts.
Specifically, an individual account can only transfer shares to another individual account, and not to an NRI, Joint, or HUF account.
How to Close HDFC Securities Demat Account?
HDFC Securities offers a straightforward method to deactivate your demat account. If you are interested in understanding the process of closing your HDFC Demat account, here is a detailed explanation.
How to Close HDFC Demat Account Online?
The simplest method to deactivate a HDFC Demat Account involves an online procedure. Here are the steps to follow:
- Initiate the process by composing an email to your stockbroker and send it to the provided email address.
- Include all important details of your demat account in the email, such as your DP ID, BO ID, etc.
- Provide the reason for wishing to close the demat account.
- If necessary, attach relevant documents.
- Dispatch the email.
- After the reception of the email, the broker typically takes around 7 to 10 business days to close the account.
Note: Before initiating the online demat account closure, ensure that your email ID is already registered with your stockbroker.
Open an account with Angel One.
How to Close HDFC Demat Account Offline?
In addition to online methods, HDFC Securities also allows you to close your demat account using offline method. Here is a step-by-step walkthrough of the process:
- Start by visiting HDFC Securities or download the closure form from its website.
- Fill in necessary details such as your DP ID, Name, and others.
- State the reason why you are closing your HDFC Demat account in the form.
- If there are still holdings in your demat account, ensure that you have transferred or sold them before initiating the closure process.
- Remember to sign in the required places on the form.
- Include the necessary documents for verification. You can send these along with the form via courier to the closest branch or you can submit them in person.
Note: You may also visit the closest HDFC Securities branch to carry out the entire account closure process in person.
Read on: ICICI Direct To Zerodha – How To Transfer Shares?
Conclusion
Transferring shares from HDFC Securities to Zerodha is a relatively straightforward process. By following the aforementioned steps and ensuring accuracy in your documentation, you will be able to get your stocks moved seamlessly and enjoy the benefits of Zerodha’s platform and services.
Remember that it is crucial to do thorough research and consider your investment goals before making any changes to your brokerage accounts. If you have any doubts or face difficulties during the HDFC Securities to Zerodha share transfer process, do not hesitate to reach out to the customer support teams of both HDFC Securities and Zerodha for assistance.
