Canara Bank Demat Account

Canara Bank Demat Account

Canara Bank Demat Account offers a 3-in-1 demat account for traders and investors.

Having a 3-in-1 account offers easy accessibility and avoids the hassle of managing different accounts. If you also want to benefit from the 3-in-1 account features then Canara Bank Securities Limited can be considered as one of the best options.

Canmoney: Canara Bank Securities Limited Overview

Canara Bank is the third largest bank in India, established in 1906. The bank provides various financial services. Canara Bank Securities Limited is a subsidiary of Canara Bank. It is also known as Canmoney. The firm specializes in brokerage services and financial products. It is a renowned stockbroking platform with a nationwide presence. The platform is efficient, reliable, and transparent. It adopts cutting-edge technology and provides technologically advanced features for traders and investors. The platform has membership in major Indian stock exchanges including NSE, BSE, F&O, and CDS. 

Types of Demat Accounts Offered by Canara Bank

1. Regular Demat Account: Suitable for investors with moderate to high trading volumes, providing numerous features and services.
2. Corporate Demat Account: Suitable for corporations and institutions, facilitating efficient management of securities and corporate actions.
3. Repatriable Demat Account: Designed for Non-Resident Indians (NRIs) to hold and manage their Indian securities, complying with repatriation regulations. It allows the flow of funds from one country to another. However, it needs to be linked with the NRE bank account.
4. Non-Resident Ordinary (NRO) Demat Account: For NRIs to hold securities acquired through earnings in India, enabling seamless investment management. The funds cannot be transferred abroad as it has to be linked with an NRO bank account.

Features of Canara bank demat account:

  1. Canara Bank offers 3-in-1 accounts (Demat, trading, and bank account).
  2. You can trade in BSE, NSE, F&O, and CDS.
  3. Canara Bank offers multiple trading platforms for the diverse needs of traders and investors.
  4. Canara Bank is a full-service broker and provides various financial services.
  5. The firm has a skilled team of research experts who offer valuable research insights to help you take positions in the market.
  6. They also offer discounts on brokerage plans.

Documents required for Canara bank demat account opening

To open a Canara Bank trading account you will need the following documents:

  1. PAN card (Self attested)
  2. Address proof (Self attested)
  3. One passport-size photo
  4. Nominee ID proof
  5. Signature on white paper
  6. Canceled cheque
  7. Bank account statement
  8. Aadhaar card

Canara Bank Demat Account Charges

Trading account opening charges Zero
Demat annual maintenance charges Rs 500 per year
Trading account AMC Free

How to open an account with Canara Banks?

You can open a Canara bank demat account online and offline mode. If you already have a Canara bank account then you need to follow the following steps to open a demat account with Canara Bank.

Online process:

  1. Open the Canara Bank net banking lite version and log in with your credentials.
  2. Navigate to the Demat Tab in quick links.
  3. Click on the Demat Tab.
  4. A pop-up window will appear then click continue.
  5. A new window will open then verify your data, click on agree, and proceed.
  6. The page will redirect you to the NSDL website.
  7. The NSDL Demat account form will appear on the screen. Fill out this form with all the required details.
  8. Click proceed, you will receive an OTP on your registered number.
  9. Verify the OTP.
  10. After this check the box to consent documents and then click on the Submit button.
  11. Once your Canara Bank trading account gets activated you will receive a message from the bank on your registered number.

Offline process:

To open a Canara Bank demat account offline, simply follow the given steps:

  1. Visit your nearest Canara Bank branch.
  2. Ask for the demat account opening form.
  3. Fill in all the details mentioned in the form.
  4. Attach Xerox copies of all the necessary documents to the application form.
  5. Sign the form and submit it to the officials.
  6. Once your registration process is completed, the bank will verify your details and you will receive Canara bank demat account credentials. You can log in with these credentials and start trading.

Canara Bank Brokerage Charges

Segment Brokerage charges
Equity Delivery  0.35%
Equity Intraday  0.04%
Equity Futures  0.04%
Equity Options  Rs.50 per Lot on single side
Currency Futures Brokerage 0.04%
Currency Options Brokerage Rs.50 per Lot on single side
Commodity Options Brokerage 0.04%
Minimum brokerage charges 0.04%

Other charges

Minimum Brokerage Charges 0.04%
Transaction Brokerage Charges 0.00325%
SEBI Turnover Charges 0.0002% of Total Turnover
Stamp Duty Charges As per the state guidelines
GST Charges 18% of (Brokerage + Transaction Charges)
STT Charges 0.0126% of Total Turnover

Advantages of opening a Canara bank demat account

  • The firm offers 100% transparency.
  • It also offers an easy settlement process.
  • Access to multi-locational services for added convenience.
  • Customer-friendly platform.
  • You can receive online Demat account statements for real-time tracking.
  • Live trading software for dynamic market participation.
  • No hidden charges.
  • User-friendly mobile trading app.

Canara Bank Trading Platform

Canara Bank allows investors and traders to access three different types of trading platforms. They are as follows:

  1. Canmoney (Official website): Canmoney is Canara Bank’s official website which is the widely used online investment and trading platform. It offers financial services including IPOs, SIPs, mutual funds, insurance, online trading, and Demat accounts. The website also provides research and recommendations. You can access this website from any browser of your choice.
  2. Canroyal: Canroyal is an online trading web-based platform designed specifically for active traders. It provides advanced charting tools for technical analysis. You can perform your technical analysis to make informed trading decisions.
  3. Mobile app: The official mobile trading app of Canara Bank is designed for a seamless trading experience. You can trade on the go with the Canara Bank mobile trading app. You will also get real-time price alerts, research notifications, and customized alerts on this app. You can download the app from the Google Play store or App Store.


FAQs on Canara Bank Demat Account

Q1. What is a Canara Bank Demat account?
Ans- A Canara Bank Demat account is an account that allows you to hold shares and securities in electronic format and helps easily trade and manage your investments.

Q2. How do I open a Demat account with Canara Bank?
Ans- You can open a Demat account with Canara Bank by visiting your nearest branch, contacting their customer service, or applying online through their official website.

Q3. Are there any charges for opening a Demat account with Canara Bank?
Ans- Yes, opening an account with Canara Bank may charge a fee. However, these fees can vary and are sometimes waived off during promotional periods. Please check the latest fees on their website or contact customer service.

Q4. What documents are required to open a Demat account with Canara Bank?
Ans- Usually, you need your PAN card, Aadhar card, proof of address, and proof of income (if required), along with passport-sized photographs.

Q5. Can I access my Canara Bank Demat account online?
Ans- Yes, Canara Bank’s online banking platform provides convenient access to your Demat account, enabling you to manage your investments.

Q6. What are the annual maintenance charges for a Canara Bank Demat account?
Ans- AMC for a Canara bank demat account can vary. It’s best to check the latest charges directly with the bank or on their official website.

Q7. Can I transfer shares from another Demat account to my Canara Bank Demat account?
Ans- Yes, you can transfer shares from another Demat account to your Canara Bank Demat account by filling out a Delivery Instruction Slip (DIS) or through online transfer if the feature is supported.

Q8. How long does it take to open a Demat account with Canara Bank?
Ans- The account opening process can take a few days to a couple of weeks after all required documents have been submitted and verified.

Q9. Can I nominate someone for my Canara Bank Demat account?
Ans- Yes, a nomination facility is available, and it’s advisable to nominate someone at the time of opening your Demat account.

Q10. What are the transaction charges for trading through a Canara Bank Demat account?
Ans- Transaction charges depend on the volume and type of transaction. Please refer to the Canara Bank’s schedule of charges for detailed information.

Q11. Can I hold mutual funds in my Canara Bank Demat account?
Ans- Yes, you can hold mutual funds along with other securities in your Canara Bank Demat account.

Q12. Is there a mobile app for Canara Bank Demat account holders?
Yes, Canara Bank offers a mobile app for Demat account holders for convenient trading and account management on the go.

Q13. What securities can I hold in my Canara Bank Demat account?
Ans- You can hold equities, bonds, mutual funds, ETFs, and government securities in your Demat account.

Q14. Can NRIs open a Demat account with Canara Bank?
Ans- Yes, NRIs can open a Demat account with Canara Bank, subject to fulfillment of certain conditions and submission of relevant documents.

Q15. How can I get assistance if I face any issues with my Canara Bank Demat account?
Ans- You can get assistance by contacting Canara Bank customer care by phone, email, or by visiting your nearest branch.

by Instockbroker Team | April 1, 2024

Lifetime Zero AMC Demat Account