Union Demat and Online Trading Services

Eligibility

• Must have a savings or current account with Union Bank of India.
• An individual, Non-Resident Indian, Foreign Institutional Investor, Foreign National, Corporate, Trusts, Clearing Houses, Financial Institution, Clearing Member, Mutual fund and Bank can open a Union Demat Account.

Additional Benefits

• Easy dematerialization of securities: If an investor holds certificates in physical form, he/she only needs to give instructions to the depository participant (DP) to convert it in an electronic form. Similarly, certificates in electronic form can be converted into physical form on request, if needed
• Receiving stock dividends & benefits: Demat Accounts have replaced the time-consuming process with quick & easy methods to receive dividends, interest or refunds. It is all auto-credited in the account. It is also extremely convenient when it comes to updating investors’ accounts with stock splits, bonus issues, rights, public issues, etc. through electronic clearing service (ECS).
• Easy Share transfers: Transfer of shares on buying or selling have also become much easier. Earlier physical transfer of shares would take about 1 month time or so. With this process simplified, costs have also come down. There is no stamp duty on transfer of securities held in the electronic form.
• Loan against securities: As a Demat Account holder, you can avail a loan against the securities held in your Demat Account.
• Liquidity of shares: Demat Accounts have made it simpler, faster and convenient to get money on selling shares.
• Freezing Demat Account: Specific type or quantity of securities in a Demat Account can be frozen by the Demat Account holder. Investors can also choose to freeze the Demat Account for a certain period of time. This will stop the transfer of money of any Debit or Credit Cards into the particular Demat Account.
• Transmission of Securities
• Mutual fund Repurchase / Redemption