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How to transfer government securities (G-secs) or Sovereign Gold Bond Scheme (SGB) from Zerodha to RBI retail direct account?

Since the ownership of government securities and gold bonds (SGBs) is recorded on a ledger maintained by RBI, they can only be transferred through a value-free transfer. The rematerialisation charges of ₹150 + 18%GST will be charged.

The process to transfer G-secs or SGB’s from Zerodha demat account to RBI retail direct account is as follows:

1. The following documents must be sent to Zerodha:

  • Rematerialisation request form (PDF) for each G-sec or SGB series or ISIN. The rematerialisation form has to be filled with details of the number of units of G-sec or SGB and the relevant series or ISIN¹.
  • Value-free transfer letter (PDF) for each G-sec or SGB series and ISIN.
  • Self-attested PAN.

Example scenario

Let’s say 3 G-secs are to be transferred from Zerodha to RBI retail direct account. In such case, for each G-sec, a separate rematerialisation request form and a separate value-free transfer letter must be submitted. So in total 3 rematerialisation request forms and 3 value-free transfer forms must be submitted.

Courier the documents to:

153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru – 560078

After the documents are verified, Zerodha will provide a Rematerialisation Request Number (RRN).

2. A request for transfer must then be placed on the Retail Direct Gilt (RDG) account. To place a transfer request, follow these steps:

  1. Log in to RDG account by visiting
  2. Click on Investor Services and then Request.

  3. Enter the details in the respective fields as follows:
  • In the Security field enter the ISIN of the securities being transferred.
  • In the Transfer Amount (in Rs. Or Grams) field mention the quantity or units of securities  being transferred.
  • In the Source Depository mention CDSL.
  • In the Depository Participant Name field mention Zerodha Broking Limited.
  • In the Depository Participant Accounts No mention the DP ID. To know the DP ID, see What is my DP name, DP ID, BO ID, and demat ID?
  • In the Depository Participant Client No field mention the BO ID. To know the DP ID, see What is my DP name, DP ID, BO ID, and demat ID?
  • In the Transaction Reference Number field mention any number for reference.
  • Upload the Remat Reference Number (RRN) provided by Zerodha in the Document upload field.

4. Click on Submit.

The transfer of G-secs or SGB’s from Zerodha demat account to RBI will take up to 3 weeks. The transfer of G-secs from the RBI direct account to the demat account is not allowed.


¹ To view the number of units or the ISIN of the G-sec or SGB:

  1. Visit
  2. Click on the context menu.
  3. Click on View breakdown.