Here’s how to renew demat and my shares online at the same time for years
If you have opened a demat account for share trading, this month is the time to renew the account.
Banks and brokers have informed that the demat account should be renewed by mid-July (end of FY 2077/78).
There is a provision to renew the demat account by mid-July of each fiscal year. The renewal done in this way will be for the coming financial year.
What happens if you don’t renew?
If not renewed, all balances will be frozen. Once the fridge is in balance, you can apply for an IPO but not sell or transfer. Valence remains frozen until the demat is renewed.
July 16 is the last day to renew. Even if you have opened demat on 30th of Asar, you have to renew it on 31st of Asar.
Does the bank renew the demat account?
The bank renews your demat account but you must have given access to the bank for this. For that you have to go to the bank or broker and fill a form. It is activated only after filling the demat renewal form automatically by going to the bank and renewing itself by deducting the required fee.
To renew a demat account, you have to go from where the demat account was opened. If it is a bank or capital, you can go to the bank or capital and if it is a broker, you can go to the broker and fill the form.
You can renew your easiest demat account online. For convenience, you can renew your demat account and my share account at the same time for more than one year. You can renew for more than one year for 5 or 10 years.
Follow the procedure below for that.
– First of all, open my share account.
– Your name is at the top right. Click there.
– ‘My share expiration date’ and ‘demat expiration date’ are given in the account information. In the case of my shares, if it is to be renewed within a year of its inception, it must be renewed by mid-July, even if the demat account is always opened.
– Now click on ‘Renew Account’.
– Now there are options like Isewa, Khalti, IME Pay, Connet IPS. Click on the medium through which you want to pay.
– Let’s try it from Isewa for now. Click on Isewa.
– Now you have three options. A box labeled My Share and Demat and My Share and Demat separately. If you want to renew my share and demat at the same time, don’t click on the box where both are in the same place. If you want to separate demat and my share, click on demat or my share.
– Let’s click on demat for now.
– Now here you have another option – ‘Please enter the number of years …’. This means that you have to enter the number of years for which you are going to renew your demat account. If you want to renew once, not just for one year, but for 5 or 10 years, you can put the number there for how many years. Let’s do it here for 3 years. The total amount to be paid was 300 rupees.
– Now click on the Prosud option below.
– The account of Isewa that we are about to pay from Isewa has been opened. Now login to Isewa. When logging in, you need to enter your number and password or MPIN number below.
– Now your mobile has OPT number. Then click on Continue Payment.
Then comes your transaction digit and user details. Now to make continuous payment. Now confirm if you think it is okay for payment.
– Now the demat renewal slip comes saying that the payment is ‘successful’. You can also download and save it.