Geojit Demat Account Review – Account Opening, Features, Charges, Offers & more

Geojit was started in 1986, and its founders were Ramanathan Bupathy & C. J. George.

Since its inception, the company has been working as a full-service broker and doing wonders in the financial industry.

Right now, they have more than 2.3 lakh active demat accounts. There are no charges for Geojit Account Opening and AMC.

They have their headquarters in Kochi and are one of the finest players in the industry. This article will look at the Geojit demat account review and learn about its key features.

Geojit Demat Account – Top Features

In this section, we will review the key features of this broker and why you should open your Demat account with them. Here is the list of reasons for the Geojit demat account.

• The full-service broker is best for beginners, as no payment is required for account opening and AMC charges. If you are starting your career in the financial domain, you can begin with Geojit, as there is no risk of investment involved.
• The broker’s three decades of experience in the industry have associated lakhs of clients with them. Currently, they have more than two lakh demat accounts that are transacting.
• They also provide their clients with free research reports and trading calls. It helps the newbies to know how to work with the booker and analyze their profile.
• If you wish to take a break, you can close your account. It will help you analyze your profits and mistakes and the areas of improvement for yourself.

The Geojit account is opted for by many beginners, and the reason is simple. You do not need to pay for the account openings, and the Geojit AMC is nil for all the years.

As no charges are involved, the trader can start anytime. Apart from these charges, they are not charging any money for account closure and reactivation.

The call and trade charges are 50 INR for every trade. The dematerialization charges are 25 INR for every certificate.

Also, the DP charges are 13.5 INR for every scrip on sale. Do consider these charges before you open your demat account.

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Geojit Demat Account Opening Process – Step-by-Step

There are no charges for opening or closing an account; however, a comprehensive set of documents is required to facilitate the process within 15 minutes.

When initiating the Geojit Demat account opening, be prepared to furnish detailed documents. Before proceeding, ensure you have documents such as PAN, Aadhar, mobile number, and bank details.

Additionally, gather supporting documents, including salary slips, tax details, educational certificates, marital status information, a passport-size photo, and a cancelled cheque.

The following section will provide insights into the demat account opening procedure.

How to open a Demat Account in Geojit? – Online Process

If you want to know how to open a demat account with Geojit, you have come to the right platform.

In this section, we will guide you on demat account opening process by following a simple online procedure:

1. To start, you can locate a tab at the bottom of the page. The tab is named “Open a demat account”. A form will open up before you; fill in all your details.
2. Upon filling out your details, an executive will help you with the further procedure.
3. They will let you know how to submit your documents to the portal and fill out the relevant forms.
4. On submitting the details, you will receive a confirmation email with login details.

How to open a Demat Account in Geojit? – Offline Process

Here are the steps you need to know to open your demat account. Here is the guide for how to unlock your demat account with Geojit via offline mode:

1. To initiate the offline procedure, you need to start by contacting the Geojit office.
2. Once you have contacted them, you can fill out and submit the account opening form.
3. Submit the desired KYC document.
4. The individual needs to be present for the IPV.
5. The last step is the signing of the agreement.

Upon completing the above steps, your account will open in the next 4-to 5 days, and you can check your email for the login details.

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Without submitting the documents to the organization, no one can open a demat account. Here is the list of documents you must submit for the Geojit demat account.

• Pan card
• Identity proof like an Aadhar card, Passport, Voter ID card, etc can be submitted.
• Passport size photo
• Address proof like Passport, voter ID card, etc.
• Income proofs like Salary slips, bank account statements, Income tax slips, etc can be submitted.

If arranged beforehand, the document listed above can help you open your account ASAP.

How to Close a Geojit Demat Account?

You cannot close the demat account online. The individual must submit a hard copy of the document to the company’s office to start the account closure procedure.

Below is the list of steps that you need to follow to know how to close the Geojit demat account.

1. Contact any Geojit branch or email customer care to complete the demat account.
2. Now, fill in all your details and mention why you want to close your demat account.
3. Attach all the KYC documents, your address, and ID proof.
4. Once you have filled in all your details, sign the form. Remember, if this is a joint account, all holders must sign it.
5. Now, courier your form to the organization’s head office, or you can physically visit the office.

Make sure that there are no outstanding dues in your demat account. It can take about seven to ten days to close your account.

Geojit Demat Account Review – Conclusion

Geojit Demat Account is one of the premium service providers in the industry. They are best for the people starting their careers in the finance industry.

There are no charges for opening your bank account, and they are not charging any money for AMC.

The account opening process is very easy; even a layman can follow and start their trading activities.

The client can visit their offices, too, if they are facing any issues with the demat account. The Demat account review has received more than eight ratings with Finec.

FAQs on Geojit Demat Account Review

Here is the list of FAQs related to the Geojit Demat account.

How to create a Demat Account in Geojit?

To create a Demat account, you must hit a tab placed down, named “open a Demat account”.

A form will pop-up; fill it out and submit it. Now, you will receive a call from the company executive, and they will guide you further.

How to delete a Geojit Account?

To delete or close your account, you must visit the company office with the document or speak to the customer care team.

What is AMC in Geojit?

This is the best part of working with stockbroker, as you do not need to pay any money for AMC.

What are Geojit Account Opening Fees?

The participant does not need to pay any account opening fee. It is entirely free.

How to find a demat account number in Geojit?

Log in and locate your demat account number on the user profile. You will find all the relevant information in this section.

How to get a Statement of Demat Holdings in Geojit?

You can download Demat holding statement from your trading app itsel. Go to my account, and the statement can be downloaded from the same section.

What documents are required to open a demat account?

The documents required for submission are the KYC and bank verification documents. You need to attach these documents along with the account opening form.

How long does opening a Demat Account in Geojit take?

It will take 4-5 days to open a demat account with this broker.

How to change your bank account in Geojit?

Here is the detailed procedure that you need to follow to change your bank account:

1. Access your MyGeojit account and navigate to User Profile.
2. Choose Bank Account Details, then click on Add New Bank.
3. Input and confirm your Bank Account Number.
4. Enter your IFSC Code for instant validation.
5. Pick your Account Type (Savings or Current).
6. Select “Add to trading a/c” or “Change bank in demat a/c” based on your requirement.
7. Remember to mark “Set as Primary Bank” and click Add Bank Account.
8. Enter the OTP sent to your registered email ID/mobile number and verify it.
9. Upon validation and approval of your bank details, you will receive a notification via email/SMS.

For offline submissions, please get in touch with your branch and submit a Change Request Form (CRF) containing the necessary details for adding a bank account.

How to transfer shares from one Demat Account to Geojit Demat?

Please submit a copy of the DIS to the branch and ensure that you sign the form. Following a brief review, the branch will transfer it to the depository to fulfil the transfer request.