Are you looking for opening a Corporation Bank Demat Account?
Then you must have browsed the internet and went to various blogs and sites that can help you.
Do you think that opening up a Corpoation Bank Demat Account is difficult? Do you want to know account opening process and the various documents required to do so? Do you know the various pros and cons associated with a Corporation Bank Demat Account?
Well, you have come to the right place. In this article, we have answered all these questions. Once you go through this article, you will surely know how to open a Corporation Bank Demat Account and all the important information associated with it.
While going across this article you would be learning the entire process of opening a Corporation Bank Demat Account. We would be exploring for you all the nitty-gritty here. And by the time you would reach the end of the article you would have become an expert from a novice, ready to advise yourthousand other friends about opening a Corporation Bank Demat Account.
Corporation Bank is one of the prominent public sector banking companies. It has its headquarters in Mangalore, India and has a presence in all the major Indian cities. Currently it operates via 2432 fully automated CBS branches, 3040 ATMs, and 4724 branchless banking units.
How To Open A Corporation Bank Demat Account
The account opening process, when it comes to Corporation Bank used to be a fully offline one. But now, this public sector bank has made visible technological advancements when it comes to opening up of a demat account. By following some simple steps, you can easily open up your demat account, and that too online.
- First of all, go to the website of Corporation Bank www.corpbank.com.
- There, under the retail section, you will find the option of Demat Accounts.
- Clicking on this option, you will be redirected to a page which will give you various information regarding a Corporation Bank demat account.
- If there is no option for opening a new demat account, call the toll free number provided on the site or contact your nearest branch office. An employee will provide you with a physical form or the link to an online application form.
- Once you get that form, you need to fill it up, either online or offline. In this, you will need to fill in your personal information such as an address, phone number, bank account details, etc.
- After you have filled up the application form, you can submit it or send a physical copy of the same to the branch office. You will also be required to attach a copy of certain documents as specified in the application form.
- Once the bank receives your filled in application form, it will review the various details and verify the documents provided by you. Once it is satisfied that the details provided are as per the guidelines, your demat account will be created and the details of the same will be sent you via e-mail and courier.
Documents Required For Opening A Corporation Bank Demat Account
Just like with any account opening process, this one also requires you to verify your identity and that of your bank account by showing certain documents. Such documents are a part of the KYC (Know Your Customer) Process. These documents are listed below
- Address Proof which can be a copy of your Driving License, Aadhar Card, Voter ID Card, Passport, Electricity Bill, or Telephone Bill.
- Personal passport size photograph.
- Copy of the Bank Statement or Pass Book copy.
- Copy of PAN Card as mandated by SEBI.
Corporation Bank Demat Account Login
Logging into your Andhra Bank demat account is very simple. All you need to do is go the website www.corpbank.com where you can enter your given login credentials, which are meant for online trading. Following this you will be redirected to your account and can start trading.
Corporation Bank Demat Account Advantages And Disadvantages
Corporation Bank Demat Account Advantages
Having a demat account with Corporation Bank comes with its own set of benefits.
- Immediate transfer of funds, shares, and other securities.
- Dematerializing and rematerializing of the shares.
- Elimination of paperwork. No physical certificate is mandatory for trading.
- Sales and after-sales support.
- Easy change of address and other important details
- Personlized advisory services to guide you through the investments.
Corporation Bank Demat Account Disadvantages
There are two sides to every coin. Hence, if there are some advantages, there will also be certain disadvantages that may or may not deter you from choosing Corporation Bank as your depository participant.
- Unlike some other demat account options, Annual Maintenance Charges (AMC) are involved with this bank’s demat account.
- The online trading platform is not very robust.
- The trading of dematerialized securities is unregulated.
- The online and current market trends take time to get updated.
Corporation Bank Demat Account Charges
|Sl No||Tariff Particulars||Revised|
|2.||Annual Membership charges||For Individuals: Rs. 300/- (upfront) + applicable service tax|
For Corporates: Rs.750/- (upfront) + applicable service tax.
(Corporation Bank reserves the right to revise the rate structure from time to time giving 30 days of notice)
Corporation Bank has long been a reliable banking institution. Besides this, the demat account opening process in Corporation Bank is quite easy and hassle-free. Just by going through this article and keeping in mind the above mentioned points should help you open a demat account with Corporation Bank with ease.
So now that you have gone through this article, do you see how easy it is to open a Corporation Bank Demat Account? If yes, then we would love to see you apply this newly acquired knowledge to your benefit. Also, if you liked the article, don’t forget to share it with your family members, friends, and colleagues, so that anyone looking to open a Corporation Bank Demat Account can do so with ease.
Corporation Bank Demat Account FAQs
1) Are there any AMC involved?
Yes. You need to pay a certain fee in the form of AMC charges in order to maintain your demat account in Corporation Bank. These charges range from Rs. 300 + tax for individuals to Rs. 750 + tax for corporates.
2) Is the option of having a 3 in 1 account available.
Yes. Corporation Bank allows you to open a 3 in 1 Trading, Demat, and internet-enabled bank account.
3) Are there upfront account opening charges involved?
There are no upfront charges involved in a Corporation Bank demat account.
4) Can I transfer my demat account to some other bank?
Absolutely. You first need to create a new bank account in your destination bank. Then after you contact the branch office of your existing bank, you will receive an account transfer application form that you need to fill. After the verification of the details, your demat account will be transferred.
5) Is there an online trading platform?
An online trading platform is available on www.corpbank.com where you can enter your login credentials. In case you can’t use the online portal, you can contact your stockbroker and trade offline.