What is POA in Demat Account meant for?
POA is a legal document which stands for Power of Attorney.
It gives authorization wherein beneficial Owner/you appoint Swastika as a lawful attorney and grant them permission to conduct transactions and transfer shares on your behalf. The benefit to have a POA in your account is, you won't require to sign any DIS slip on all the transactions and you can easily sell your delivery holding accordingly.
By virtue of the POA, you can get additional money to trade keeping your existing stock holdings as collateral. This is totally dependent on Swastika Risk Team's discretion.
You can download POA form by click at below link
(Click on Account opening and modification, go to the bottom, in "other important forms" tab, you can download POA form.)
I already have a Demat Account. Can I only open a Trading account with you?
Yes, you can easily open a trading account with Swastika by linking your existing demat account. But we would recommend you to open a new DEMAT account at Swastika. This would provide you with a seamless and paperless online investment experience. ...
Can I open Joint Demat account with Swastika?
Yes, it is possible to open a joint demat account with Swastika with a maximum of three holders. The trading account should be registered in the first holders’ name and communication will be provided to the first holder only. A maximum of three ...
What are the documents required to open a demat & trading account with Swastika?
For Indian resident individuals To open a demat & share trading account you need the following documents Your PAN Card Your valid Government approved address proof (any one of the following)- Aadhar Card Driver's Licence Passport Voter's ID Ration ...
Is there an account opening fee?
We do not charge the account opening fee. However, we do offer trading and Demat account plans to choose from. They are as follows- PLANS STANDARD PRO ULTIMATE ACCOUNT MAINTENANCE CHARGE ₹250/P.A. NO AMC NO AMC AMOUNT PAYABLE ₹250 + GST & ₹150 for ...
I already have shares in my old demat account. Can I transfer them to Swastika?
Yes, it is possible to transfer shares from another demat account to Swastika’s account. You have to sign a DIS, which is generally free of cost. The account holder has to be the same person. You can also transfer shares from one Swastika account to ...