Sushil Finance is a full-service broker and an equity research firm that was founded in the year 1982. Since then it is offering various services including Demat Account. Learn about the Sushil Finance Demat Account.
Since Sushil Finance is registered with BSE, to know more details about the different aspects of the Demat account you can learn how to open BSE Account?
Sushil Finance Demat Account Review
Sushil Finance offers a 2-in-1 account to its client.
Thus you can reap the benefit of both Demat and Trading account.Demat accounts used for holding their investments in stocks, mutual funds, bonds, and other financial instruments.
On the other hand, the trading account where the trading of the financial instruments can be done easily.
The broker is a good choice for having a demat account as it offers a lot of good quality services like good platforms, 24-hour access to your holdings, good customer support, etc.
However, there are some disadvantages of Sushil Finance demat account like nonavailability of facility of a 3- in – 1 account, lack of reviews on company stocks, etc. These will be discussed later at length in the article.
The process of getting a Sushil Finance demat account is quite easy and convenient.
In terms of customer service and resolution of client queries, the reviews of Sushil Finance have been good. When it comes to account opening and annual maintenance charges, the rates are competitive with the peers of the industry.
Sushil Finance Demat Account Opening
To open a demat account, the basic requirement is to execute a DP – investor agreement which can be accessed through the DP. To open a Sushil Finance demat account, you can follow either of the 2 methods –
1) Online Method
Go to the website of Sushil Finance and click on “Open an Account” which shows at the top right corner of the page.
This will take you to another page where you will get two options – the first option would be to give a missed call on their mentioned number after which a Sushil Finance executive would give you a call and explain the whole process of opening Sushil Finance demat account.
The second option is to continue yourself by filling out all the details mentioned on the page like name, email id, contact number, address, etc.
Also, an account opening form can be downloaded from their website after which it needs to be duly filled and submitted to them.
The account opening form needs to be either downloaded from their website or procured from one of their branch offices nearest to your place.
After getting the form, you need to fill out all the details required to be filled in the form and submit it along with copies of all the necessary documents.
In case of any query, you can reach out to their executives who will help you along your way of filling out your form.
Wish to open a Demat Account
Sushil Finance Demat Account Login
Once the account opening procedure is complete on their end, you will be assigned a username and password information for logging into the Sushil Finance demat account.
This login can be done through any of the internet supported devices like a laptop, mobile phone, computer, etc.
Once you login to your demat account, you would be able to see all the holding of your demat account at one place and would be able to access all of them.
Sushil Finance Demat Account Charges
The account opening charges for Sushil Finance demat account are Zero. So if you are looking for a free demat and trading account facility then here is the one.
The charges for maintenance of the demat account which are to be paid by the client on a yearly basis are Rs. 300.
Similarly, the account opening charges for the trading account are also nil.
Sushil Finance Demat Account Charges
Demat Account Opening Charges
Trading Account Opening Charges
₹750 (one time)
Demat Account: ₹300 per year
Trading Account: Nil
Sushil Finance Demat Account Closure Form
If you have a Sushil Finance demat account and you decide to close it for some reason, you must first ensure that you transfer all the holdings from it to another DP or sell them off.
Also, do not forget to check if there is any negative balance. You would be required to clear it off before you submit a request to close your demat account.
For closing the Sushil Finance demat account, you need to download the account closing form from their website or get it from one of their offices and fill in the required details along with your signature at the correct place.
If there are multiple holders of the account, the signatures of all the members are needed. Once all the formalities are completed on your and their end, the account will be closed.
It is recommended to close the Sushil Finance demat account if it is not in use because the annual maintenance charges will continue to be paid until the account is closed.
Sushil Finance Demat Account Advantages
Sushil Finance demat account has many advantages some of which are being discussed here in this article –
1) Continuous Access Online – You will have 24*7 access to your holdings in your demat account even if they are spread among different financial instruments.
2) Customer service – There is a special senior relationship manager whose duty is to work exclusively for the demat account and therefore, all your queries and questions will be solved timely.
3) Corporate Benefits Accounting – If there are any dividend income, interest earnings, or bonus incomes on any of your holdings, you will get to have complete accounts of those with the Sushil Finance demat account.
4) Charges – The Sushil Finance demat account comes with competitive pricing too.
5) Ease in Operating the Account – You can easily operate on your demat account from any of the branches of Sushil Finance.
Sushil Finance Demat Account Disadvantages
Almost like everything else, there are some disadvantages of having a Sushil Finance demat account too. Let us look at some of them here –
1) Since Sushil Finance is a full-service broker, it can not offer very low prices to its clients like the discount brokers.
2) Sushil Finance does not offer a 3 – in – 1 account where the clients have easy access to a banking account along with a demat and a trading account. You need to have a separate banking account and link it to your demat and trading account.
3) Although it is a full-service broker and provides different services like research and advisory, it does not give you access to the reviews of company stocks and their annual reports, etc.
Sushil Finance is a full-service broker which offers the facility of a 2 – in – 1 account which consists of a demat account for holding all your investments in securities, government bonds, mutual funds, etc. as well as a trading account which can be used for trading of these securities.
Sushil Finance demat account can be opened free of cost with an annual maintenance fee of Rs. 300 per year.
The account opening process is simple and you can do it wither online or offline by giving out your basic details along with documents like PAN card, Aadhar card, and other documents as proofs of address, identity, etc.
The process of closure of the Sushil Finance demat account is quite easy and can be done by filling out an account closure form which is easily available on the website as well as any of their branches.
It is advisable to close this demat account if it is not in use or a decision has been taken to go to another DP. This is because the charge for annual maintenance still needs to be paid whether the account has been in use or not.
There are many advantages of having a Sushil Finance demat account like good customer service, competitive pricing, a 24*7 access to your holdings, etc.
Some of the disadvantages of having this account are nonavailability of a 3 – in – 1 account which is more convenient for clients as they have integrated banking services in them, etc.
If you are looking to open a demat account, you should certainly look at all the benefits and disadvantages of having a Sushil Finance demat account and then decide what is best for you.
Frequently Asked Questions
1) What is the process of receiving shares in the Sushil Finance demat account? Also, how are the stocks delivered?
The stocks (that have been held by Sushil Finance demat account) need to be sold by an investor should be transferred to their pool account.
The transfer needs to be done for a specified settlement number. The delivery should come directly from the investor’s account. In the same manner, the stocks that have been bought would be transferred directly to the investor’s account.
2) Can the Sushil Finance demat account be opened for free?
Yes, there are no charges for just opening a demat account with Sushil Finance. However, there is a charge for the annual maintenance of every account that needs to be paid every year by the client.
3) How are the payments made or received from Sushil Finance?
Any payment that needs to be made can be made by either a demand draft or cheque (account payee). In the same manner, Sushil Finance would also issue a cheque in the name of the investor.