Dear Experts,
One of my family member is holding demat account with IOB ( Indian Overseas Bank) which they want to migrate the holding to another demat account. did anyone know which depository IOB is linked with? NSDL or CDSL?
What is the easiest procedure to shift the stocks to another demat account like Zerodha or angelone?
Please share your thoughts.
Best Regards,
SD
Since it’s in demat, transferring the shares from one demat to another is very simple.
You need to first open an account with the preferred broker. To signup with Zerodha, you can log in here. https://signup.zerodha.com/
Once the new account is created, you will get a client master report copy (CMR) on your email. This is similar to the bank passbook’s first page, which contains all your details. This is required to initiate the share transfer to right account.
IOB will provide an option either initiate the transfer of shares or closure cum transfer. You have to submit the delivery instruction(IOB will provide this format) along with the CMR of the new account. Once this is done, shares will be transferred and will be visible in your new account.
Can refer to this article for more.
Hope this helped.
Hi Alwin, thanks for responding.
Yes, i am already aware on transferring the stocks from one demat to another demat via CDSL easiest.
To make it clear with my question, i would specially want to know who is the repository for IOB demat.
How to make the transfer digitally from IOB demat? to see if anyone has already done this before.
Thanks
Saba
You can request for CMR copy from IOB. This will have the depository details.
Seems like they had tie-ups with other brokers who might have different underlying depositories.
Their FAQ
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