1. Why are the IL&FS demat accounts being migrated to Zerodha Broking Limited?
IL&FS Securities Services Ltd, which had been operating demat accounts with both CDSL and NSDL, has discontinued its services. All existing IL&FS demat accounts have been migrated to Zerodha Broking Limited.
IL&FS ceased operations on August 5. Zerodha began client onboarding on August 9 and started providing services to the migrated NSDL clients from August 11 onwards.
2. Will Zerodha open new accounts as NSDL?
No. Zerodha only migrates specific NSDL accounts that you originally opened under IL&FS to Zerodha Broking Ltd. Your existing CDSL accounts with Zerodha remain unaffected.
- Existing Zerodha clients: Your NSDL account will be linked to your current Zerodha account as a secondary demat account.
- New clients to Zerodha: Your NSDL account will be mapped as a "demat-only account" without access to Zerodha platforms (Kite or Console). To gain full access, you must open a new Zerodha trading + demat account. Your NSDL demat account will remain as a secondary account.
3. Can I buy and sell securities using my NSDL demat account?
You can only buy and sell securities if you hold a Zerodha Trading + Demat (CDSL) account. When you open an account, your NSDL demat is linked as a secondary account by default. To sell shares from it, you must transfer shares from your secondary NSDL demat account to your primary CDSL demat account via the offline Delivery Instruction Slip (DIS) process. However, you can only use the DIS issued specifically for your NSDL demat account.
4. Can I add, modify, remove or opt out of nominee details in my NSDL demat account?
Yes, you can add, modify, remove or opt out of nominee details in your NSDL demat account, but you must follow an entirely offline process. Fill out and courier the required forms to Zerodha.
5. Can I transfer shares from my NSDL demat account to another demat account?
Yes, you can transfer shares via the offline Delivery Instruction Slip (DIS) process, which is similar to the CDSL process. However, you can only use the DIS issued specifically for your NSDL demat account.
6. Can I gift securities from my NSDL demat account to another Zerodha account?
No. Zerodha's Console gift feature works only for CDSL accounts. However, you can gift securities via the offline off-market transfer (DIS) process.
7. How can I close my NSDL demat account?
You can follow the closure or closure-cum-transfer as per NSDL guidelines. However, this can only be done offline.
8. Can I initiate a margin pledge for securities held in my NSDL demat account?
Yes, but you need to follow an offline process for margin pledging with NSDL. You must submit a physical pledge request form to Zerodha. Alternatively, you can transfer your shares to a CDSL demat account with Zerodha and pledge your holdings online to avail margin.
9. How can I unfreeze my NSDL demat account?
You need to follow a similar process to CDSL unfreeze requests. You need to submit the NSDL freeze/unfreeze request form, either via e-signature or hard copy submission.
10. How can I reactivate my NSDL demat account?
- If you have a Zerodha account: You can reactivate your account by completing the Re-KYC process at signup.zerodha.com/rekyc.
- If you do not have a Zerodha account: You need to complete re-KYC through the sign-up process.
11. Can I modify the details in my NSDL demat account?
Yes, you can modify details in your NSDL demat account, but you must follow an entirely offline process. You need to fill out and courier the modification form (PDF) to Zerodha.
12. What will be the pricing for NSDL demat accounts?
Zerodha will maintain the pricing structure consistent with existing rates.
13. Will I retain BSDA status if I open a new Zerodha (T+D) account while my existing NSDL demat account is active?
No. Your demat account will no longer be considered as BSDA, and Zerodha will charge the respective AMCs.
14. Can I buy a mutual fund through Coin using an NSDL demat account?
You can buy mutual funds only if you hold a Zerodha account.