Hi all,
My primary a/c is on Zerodha, but I’m closing another legacy one on icici direct (NSDL based) which is having certain SGBs which I hear cannot be transferred to Zerodha as it is CDSL based. Will appreciate if people can guide some good enough broker based on NSDL.
thanks
While giving a request for closure of demat / trading account held with ICICI, you can choose to transfer all your holdings in the ICICI demat account to Zerodha demat account. There is an option on the closure form where you can select CDSL demat account (e.g. your demat account held with Zerodha) as the beneficiary account to transfer your current holdings held with ICICI. Please refer image below (Option B-> Transfer to my account → Choose CDSL and fill your demat account number held with Zerodha)
This unfortunately does not work if there are SGB (RBI gold bonds) lying in your demat. Please correct me if I am wrong.
Government Security can be transferred using a value-free transfer mechanism.Unlike stocks, SGBs cannot be transferred directly. They can only be transferred through a value-free transfer. To transfer SGBs, You need to submit a rematerialization request to the transferor DP ( ICICI Direct ) to debit the SGBs and a dematerialization request to the transferee DP (Zerodha) to credit the SGBs The process is explained in the provided link. What is the process for an inter-depository SGB, G-sec and SDL transfer?
