KVB Bank Corporate Demat Account Opening From Download

KVB Bank Corporate Demat Account Opening

The Karur Vysya Bank (KVB) Corporate Demat Account Opening form outlines several critical requirements, fee structures, and procedural guidelines for non-individual entities:

Necessary Corporate Documents

Financial statements: Balance sheet copies for the last 2 financial years must be submitted annually.
Shareholding structure: Latest certified shareholding pattern including direct/indirect controlling entities must be submitted annually.
Identity documents: Photographs, PAN, Proof of Identity (POI), and Proof of Address (POA) of all individual promoters holding control.
Director credentials: Photographs, POI, POA, PAN, and Director Identification Numbers (DIN) of operational/whole-time directors.
Company formation: Copies of the Memorandum and Articles of Association alongside the Certificate of Incorporation.
Investment mandates: Board Resolution authorizing investments in the securities market and an authorized signatories list with specimen signatures.

Account Structure & Details

Entity classification: Catered towards entities like Private/Public Limited Companies, Body Corporates, Trusts, Partnerships, Societies, and LLPs.
Financial profile: Mandatorily requires annual income range classification and a current net worth statement not older than 1 year.
Regulatory compliances: Includes necessary declarations for Politically Exposed Persons (PEP) and a mandatory FATCA/CRS entity declaration form.

Schedule of Service Charges

Account opening: Free of any initial opening or kit charges.
Annual Maintenance Charges (AMC): Corporate accounts incur an annual maintenance fee of ₹500.
Transactions: Buy transactions are free, while sell instructions cost ₹25 or 0.02% of the market value (whichever is higher, capped at ₹500) plus applicable NSDL charges.
Dematerialisation: ₹45 per certificate/company, plus ₹5 for each additional certificate.
Defaulter terms: A ₹100 penalty applies to any dishonoured cheque or failed direct debit. Demat services can be paused after a 2-day non-payment notice.

Operational Rules & Rights

Standing instructions: Account holders can authorize the bank to automatically receive transaction credits into the demat account.
Account updates: KVB reserves the right to revise its tariff structure by providing a mandatory 30-day prior written notice to the client.
Authorized changes: Any revisions, additions, or deletions to the corporate authorized representative list must be immediately reported to the bank.