For transfer of Post Saving NSC & KVP Kept in demat A/c of ICICI Bank in Demat a/c of other Institutions.?

I have invested Rs. 16000/- through online in Post office saving certificated via ICICI Bank. The above mode is electronically kept in demat account in ICICI Demat. I dont want to continue my account as i cant keep the minimum amount of Rs.5000/- in saving account of ICICI Bank. If i will keep this amount idle in this saving account i am a big loser and Bank is earning on my saving. At the time of opening of saving the agent had told that you can start the account be ZERO balance and in this fashion i had started 3 in 1 scheme account. Later on this bank guys had started deducted Rs. 750/- on quarterly basis as minimum balances charges… what a stupidty. Earning on the cost of poor chaps………. Now i dont want to continue my account in this Bank as this bank is a big looter. When other nationalised bank are allowing to maintain minimum 1000/- Rs. in saving account, why this is consipracy .Can anyone tell how to transfer electronically invested P.O. instruments in other demat a/c.

One Reply to “For transfer of Post Saving NSC & KVP Kept in demat A/c of ICICI Bank in Demat a/c of other Institutions.?”

  1. ICICI Bank is making fool of many of its customers now-a-days and you should and must not continue with them.

    The Best way to get your securities transferred into another demat account is to first open a demat account with any other depository participant viz. IndiaInfoline ( is opening demat account free of cost.

    After opening the demat account, you should sign a cheque (through the cheque book issued to you by ICICI, for demat transactions only) in your own favour describing the securities that you hold presently and then it would be transferred into your own account opened with which ever depository participant you wish to open your account with.

    The depository particiant will help you to get your securities transferred in your own fresh demat account & with their help you can fill your cheque book (issued by ICICI for secutities transactions only) and after transferring the secutieis you can close your demat account with ICICI.

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