How to transfer shares from one demat account to another
If depository of both to and from DP is same, use Easiest for CDSL and Speed-e for NSDL. Otherwise, submit DIS physically
Before we begin, we need to clarify on some terminologies used in this document.
A DP (Depository Participant) is a broker who coordinates with the national depository to keep our shares, debentures etc. in electronic form
National Depository: Centrally authorized share depositories. Presently, there are two such depositories in India
- 1.CDSL (Central Depositories Services India Ltd)
- 2.NSDL (National Securities Depository Ltd)
Depending on to which national depository both the DP (From where you want transfer and to where) are associated with, the procedure for transfer are different.
Online transfer will only work if the national depository of both the to & from stock broker is the same.
CDSL Provides an online platform (EasiEasiest) for submitting off-market, on-market, inter-depository and early pay-in debit instructions from one's demat account.
Below are the steps to use that facility to transfer shares from one DP to another
- 2.Provide the details of DP from where you need to transfer the shares while registering
- 3.Add the trusted account by giving DP details to where you need to transfer the shares
- 4.Go to Setup → Bulk setup → Transaction
- 5.Select the added trusted account to which you need to transfer the share and provide the needed details
- 6.After successful verification, the transfer procedure will start
Similarly NSDL got Speed-e service which offers similar functions if your DP supports e-DIS.
Please try offline transfer only if the online option doesn’t work or you have to transfer shares between an NSDL and CDSL linked DP.
Please note that you may have to pay the charges for the DIS slip, and its postal charges; if you opt this route.
- 1.Get the DIS (Delivery Instruction Slip) from your existing stock broker.
- 2.Fill DIS with
- Demat account number & DP ID of the account to which you need to transfer the shares.
- Name of the security / company / scrip, and its ISIN number.
- 3.Send the DIS along with the CMR (Client master report) copy to the new account provider.
- 4.In 3-4 days after the receipt of the DIS, the shares should reflect in your new account.
If you are closing the old account, you can fill the details of the account to which you need to transfer the shares. This will eliminate any transfer fees
To close the account in NSDL, the application form in Annexure Q must be submitted or a separate request on plain paper along with the DIS form to transfer securities, both signed by the account holder and it takes 15 days after that. Refer this link for more details