HDFC Securities To Zerodha
Want to transfer your shares from HDFC Securities to Zerodha? Whether you’re switching brokers for greater features or lower fees, the process is simple, with two main options accessible. This tutorial will bring you through both the Closure Cum Transfer and Off-Market Transfer options, with detailed, step-by-step instructions. By the end, you’ll have a smooth transition, with your shares safely transferred to Zerodha. Let’s get started and make this transfer go smoothly!
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HDFC Securities
HDFC Securities Limited is a financial services intermediary and a subsidiary of India’s private sector bank, HDFC Bank. It is the stock-broking arm of India’s largest private-sector lender, HDFC Bank, commenced operations in April 2000.
Zerodha
Zerodha is India’s premier stockbroker, noted for its wide range of online flat cost discount brokerage services. Zerodha allows investors to trade equity, currency, commodities, IPOs, futures and options, bonds, government securities, and direct mutual funds.
Before you start the transfer, make sure you have an active Zerodha account. If you don’t have one, take the following steps:
- Go to the Zerodha website and click on “Sign up”.
- Fill in your information and complete the account opening process. You will need your PAN card, Aadhaar card, and bank account information to complete this process.
- Once your Zerodha account is activated, you can begin the transfer process.
Step 1: Get Closure cum Transfer Forms
Visit to HDFC Securities and ask for the closure cum transfer forms.
Step 2: Obtain Zerodha Client Master Report (CMR)
You need to get your Zerodha CMR, it is a must do before you can make any transfers. You can request this by signing in to Zerodha Console and asking for the CMR.
Step 3: Complete Fill Out the Forms
Thoroughly fill out correctly the closure cum transfer forms. Now, attach these with the signed and sealed Zerodha CMR.
Step 4: Hand Over to HDFC Securities
Submit them along with completed CMRs to HDFC Securities.
Step 5: Wait until Transferred Is Done
HDFC Securities will process your transfer. When completed, they will be sent into your Zerodha account.
Off-Market Transfer
Step 1: Get Delivery Instruction Slip (DIS)
Approach HDFC Securities for a DIS, which is essential in effecting transfers.
Step 2: Writing on ISINs of Shares are Required
Enter details about your demat account with Zerodha including its 16-digit demat ID. Ensure you key in correct ISINs for every single share that is being moved.
Step 3: DIS submission to HDFC Securities
Dis filled with all correct details and signed by you should be submitted to HDFC Securities.
Step 4: Paying Transfer Charges
This transfer may incur a cost at HDFC Securities. Confirm this and pay for any charges that may be required thereof.
Step 5: Wait for the transfer to complete
Off-market processing of the shares will be done by HDFC Securities. These shares will then get credited into your Zerodha account.
Note
- Find out if there is a lock-in period on your shareholding. A lock in period can impede the transfer of your holdings.
- Continuously review your Zerodha account to confirm successful transfers of share’s ownership.
- When we are through with transferring, make sure you manually input the acquisition costs under Zerodha so as your portfolio would have an accurate record of it.
Tax Implications
- No tax liabilities if the transfer is within the same account holder’s name.
- If transferring to a different person’s account, tax implications may apply, especially if it’s not a gift.
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Conclusion
Transferring shares from HDFC Securities to Zerodha is simple, with two options: closure cum transfer and off-market transfer. For Closure cum Transfer, receive the relevant paperwork from HDFC Securities, obtain your Zerodha CMR, complete the forms, and return them to HDFC Securities for processing.
For Off-Market Transfer, receive a DIS from HDFC Securities, fill it out with your Zerodha demat account information, pay any relevant fees, and submit the DIS. Always check for lock-in periods and keep track of successful transactions in your Zerodha account.
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