Features & Benefits
Axis Bank offers its customers e-Depository Servicesas a part of its capital market services. Axis e-Depository servicesis aninternet based service which lets Demat Account holders and brokers submit delivery instructions online using a service called Speed-e. You can also view the status of your delivery instructions on the Speed-e website.
The Axis e-Depository also offers the Dial-Your-Demat facility which lets you access your demat account via phone from any of our access centres. The Dial-Your-Demat service is available 24X7, 365 days a year.
Introduction to the e-Depository service
With the introduction of settlement on T+2 basis, instruction for delivery of securities to broker's account is required immediately after sale of securities. Hence time available for submission of delivery instructions is limited. Axis Bank now permits submission of delivery instructions in electronic form using Internet based service called Speed-e. Physical delivery instructions need not be submitted in case you are submitting the instructions on Speed-e.
Functioning of Speed-e
Speed-e is an Internet based service offered by NSDL through which Demat Account holders (including brokers) can submit delivery instructions to us through Speed-e website http://speed-e.nsdl.com, and also view the status of their instructions.
Access your Demat Account(s) through a telephone from any of the Access Centres. Just dial the Tele-Depository Services number and get all information about your account on Voice, Fax or even email. Dial-Your-Demat is available 24 hours a day, 365 days a year. This service offers you a wide range of facilities such as:
- Balance inquiry
- Statement of Demat account by fax or phone or email
- Transaction details by fax or phone or email
- Holding details by fax or phone or email
- Overdue cum Holding details by fax or phone or email
- Rejection details by fax or phone or email
- Change of PIN
To register, submit application form to your closest branch.
Benefits of Speed-e
- Convenience of executing instructions directly through Internet, from wherever access to Internet is available
- For NRI investors, it eliminates geographical barriers as also the need to appoint a power of attorney (POA) to operate the account
- Saving in time and efforts in obtaining delivery instructions slips and submitting them to Depository Participants (This would be useful specially as the time available between the trade day and pay-in day has since been reduced due to rolling settlements on T + 2 basis)
- Speed-e also provides details of the balances available in your Demat Account on real time basis. It also provides statement of transaction for your account for previous month.