Union Bank of India DAO NSDL Abridged Demat Account Opening

Union Bank of India DAO NSDL Abridged Demat Account Opening Form Download

Here are the key points from the provided Union Bank of India Abridged NSDL Demat Account Opening Form (DP ID IN302603):

Abridged Process: This form is highly simplified because it relies entirely on the KYC information already provided in your existing Union Bank of India Savings or Current Account (abridged-d… p. 1).
Data Integration: You authorize the bank to link your bank account number and directly transfer your saved signature(s) over to your new Demat account (abridged-d… p. 1).
Holding Alignment: The pattern of account holding (Single or Joint) must match your existing bank account exactly (abridged-d… p. 2).

Applicant Data: Basic identifiers like Name, PAN, Date of Birth, Email, and Mobile Number must be filled out for up to three holders (abridged-d… p. 1).
Family Flag: You must explicitly state whether the provided mobile number and email belong to you or a close family member (Spouse, dependent children, or dependent parents) (abridged-d… p. 1).
Preferences: You select your income slab, specify if you are a Politically Exposed Person (PEP), and choose between a Regular Demat or a BSDA (Basic Services Demat Account) (abridged-d… p. 1).

Opting In: You can nominate up to three individuals (abridged-d… p. 2). You must specify their allocation percentages (divided equally by default) and provide their identification details (like PAN or Aadhaar) (abridged-d… p. 2).
Opting Out: A dedicated declaration box is included to intentionally decline nomination, acknowledging that your legal heirs will face tighter court documentation requirements to claim assets in the event of death (abridged-d… p. 2).

Opening & Closing: Completely free (abridged-d… p. 3).
Annual Maintenance Charges (AMC): Free for the first year (abridged-d… p. 3). Starting the second year, individuals pay ₹250 + GST (with a trading account) or ₹300 + GST (without a trading account) (abridged-d… p. 3).
Sell Transactions: Individual/HUF accounts incur a fee of 0.04% of the transaction value (Minimum ₹30, Maximum ₹1,200 per ISIN debit) (abridged-d… p. 3). Using the digital Speed-e portal cuts this rate to 0.02% (abridged-d… p. 3).
Key Operations: Dematerialisation costs ₹5 per certificate (Minimum ₹100 per DRF) (abridged-d… p. 4). Freezing or unfreezing costs ₹25 per transaction (abridged-d… p. 4). Your first Delivery Instruction Slip (DIS) booklet is provided free (abridged-d… p. 4).

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