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PNB or Punjab National Bank is known for offering banking and other related services for years. Other than this, the bank is known for offering
Demat account services. So, if you are looking for a reliable Demat provider then have a look at the PNB Demat Account charges.
Since PNB only offers Demat account and saving account benefits without the
trading platforms. To offer the hassle-free trading experience to its clients it has tied up with some of the renowned stockbrokers the list of which is provided below:
Geojit IDBI Bank
full-service stockbrokers have their individual identity in the stock market and offer with advanced and basic features to make the life of individual investors simple. best trading apps in India
Since it has a tie-up with another stockbroker, how does it charge fees on the Demat account?
Is it specific to the user of the
PNB Demat account or depends on the trading app chosen by the investor?
Let’s clear all the doubts by delving into detail to know the
Charges for Demat account.
Demat Account Charges in PNB Bank
As discussed above, PNB is known for offering the Demat and saving account services and thus it comes up with the specific opening and maintenance charges.
But when you do the
comparison of demat account charges, then do these charges seem high as compared to other brokers or being the nationalized bank it offers service for FREE?
Other than this, what other charges does it impose to offer other services like dematerialization charges, pledging of shares in the Demat account, etc?
Generally, these charges are generally least considered but let’s begin with the complete details to know the cost of the Demat account with the PNB.
PNB Demat Account Charges Dematerialization Charges Rs. 2.25/- per certificate with plus courier charges Rematerialization Charges Rs. 10 per hundred securities or flat Rs. 10 whichever is higher DP Charges 0.033 % of market value with minimum Rs.30 per debit Pledge Charges Rs. 25 per instruction Account Freezing Charges Rs. 20 per instruction
PNB Demat Account Opening Charges
After discussing the additional charges on the PNB Demat account, let’s now find out the charges associated with PNB Demat account opening.
PNB Demat Opening Account Charges Demat Account Opening Charges Nil
So, here again like many other stockbrokers, you can enjoy the benefit of opening a Demat account with a reliable depository participant without paying any charges.
Other than this by
opening a Demat account with PNB you can reap the leverage of a free trading account with the SMC Online and other stockbrokers mentioned above.
This further gives you the benefit to access their trading app for FREE!
PNB Demat Account Annual Charges
Last but not least are the Annual charges, these charges are generally meant to maintain and keep the account active.
The detailed information of the
AMC for Demat Account in PNB is given below:
PNB Demat AMC Charges Demat Account AMC Charges Rs. 250/- p.a. (Rs. 115 p.a. for Senior Citizen)
As seen above, AMC charges in the PNB is
₹250/- per annum while for the Senior Citizen the stockbroker offers certain relaxation where one has to pay the amount of ₹115/- per annum.
Here, unlike other stockbrokers, one needs to pay the fees right from the first year.
So, make sure you have all the valid proof and
documents required for Demat account and reap the benefit of trading with the reliable and renowned bank of India.
So, here the PNB Demat account opening charges are zero, and further, it offers you the benefit of linking the trading account with the famous stockbrokers for FREE.
Other than this, the depository participant is registered with
NSE, BSE, and MSEI thus opening a gateway to trade across segments.
But looking at the other side, the stockbroker does not offer a direct application or has a specific identity in the stock market.
This reduces its credibility as the Demat account service provider.
So, before moving ahead, it is good to consider the pros and cons of having a Demat account with PNB.
Make a decision now and proceed further with the Demat account online.
In case, you are facing issues, get in touch with us and we will help you in opening a Demat account online for FREE!
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