Frequently Asked Questions (FAQs)
Introduction
1. Who can avail this product?
A-All customers of IOB having savings / current account in any of the IOB branches with
internet banking facility and Demat Account in NSDL set-up in IOB
2. Is IOB themselves a broker?
A-No. IOB has tied up with two leading stockbrokers “Emkay Global Financial services
Ltd., Mumbai” and “SMC Global Securities Ltd., Delhi”
3. What formalities do I need to fulfill for availing this product?
A-You need to fill account opening forms both for Trading and Demat and execute an
Agreement cum Power of Attorney (POA) in favour of Stock Broker for operating your
Demat Account.
4. How to open Trading and Demat Accounts?
A-You can contact your nearby branch of the Stock Broker (addresses available below)
who will assist you in opening a demat and trading account.
5. What will happen to the Account Opening Forms after my submission?
A-Demat Account - Your IOB branch officer will attest the KYC documents and verify
you In-person and send the forms to our Chennai Depository branch
A-Trading Account – Stock Broker’s representative will send it to their nodal office
6. Will I get any information related to transacting from Stock Broker?
A-Along with account opening intimation you will be given a “welcome kit” which will
explain how to activate your account, how to place order, Do’s and Don’ts etc.
7. Is there any charge for opening online trading account?
A-Emkay – Rs.200 towards POA stamp duty and application printing charges
A-SMC – Rs.500 for Customers (50% concession for IOB Staff / Ex-staff)
NO ANNUAL CHARGES WILL BE LEVIED FOR TRADING ACCOUNT
Pre Trades
8. Do I need to submit any document & proof for online trading account opening?
A- Yes. You have to submit photocopy of your address proof, PAN card, Aadhaar Card,
Cancelled Cheque/First page of passbook for account opening. .
9. How many days will require to open my Online trading account?
A- It will take about five working days to activate the online trading account after
submission of all the required documents.
10. How do I get my trading account opening details?
A- you will be getting User Id & Password through your registered email followed by a
welcome kit through courier.
11. In which exchange can I transact?
A-You can transact both in BSE as well as NSE equity segment depending on your
Choice indicated in the Account Opening Form.
12. Can I trade both in cash as well as derivatives?
A- Yes.
Depository
13. Can I have my demat account with any Depository Participant?
A-No. You should have your demat account only with IOB in NSDL depository
14. What will be the demat charges for online trading?
A- charges will be minimal along with reasonable brokerage. Depository charges will be
cheaper for e-trading customers. The schedule of charges are attached to the
respective account opening forms.
15. Can I link 3 or 4 demat account with a single online trading account?
A- If the holders are different, No. But if the first holder is the same, multiple demat
accounts can be linked to a single trading account, subject to a condition that the first
holder should be the first holder in both bank and demat accounts.
16. Can I transfer shares to any one through off-market mode during trading
time?
A- No, you cannot do off-market transfers during trading time. However, off-market
transfers can be effected after market hours or on the next day before trading time.
Trade
17. How do I place order?
A- You can go to the website of the Stock Brokers i.e. www.smcindiaonline.com or
“www.trade.emtrade.in and place orders. You can also use “TRADE OVER PHONE
FACILITY “
18. Can I go to Brokers’ website directly or should I go only through IOB site?
A- You can go to Brokers’ Website directly or through IOB web site.
19. Can I do same day square off?
A- Yes.
20. Can I link my different bank accounts of IOB for trading purpose?
A- Yes, if your name is first in all the bank accounts. All your bank accounts should only
be with IOB.
21. Can I pay at the end of the day after purchasing the share?
A- No. Credit should be there in your account before placing an order. Credit can be by
means of Funds Transfer or Sale of shares
22) Will I get exposure for intra-day trading?
A- You may be offered exposure based on credit balance in your portfolio as well as on
the value of the holdings (specified shares).
Post Trades
23) When do I pay for my Purchase?
A-When you want to place order, the order will be executed, if sufficient credit is already
available in the trading portal. In case of insufficient funds/credit, you have to opt for
‘pay-in’ in the Trading Portal, which will take you to IOB’s internet banking screen and
funds can be transferred. The trading portal will instantly show the credit and you can
buy shares. However, in case of remaining balance available in the trading portal after
shares are bought, you can allow the credit to remain or opt for re-transfer of funds in
the option ‘pay-out’.
24) When I sell shares, when and where will I get the credit of funds?
A-The sale proceeds will be credited immediately to your trading account so that you
can buy shares instantly. For the convenience of buying shares, the proceeds will not
be credited to your bank account, as otherwise you may have to transfer the funds
again for buying against the proceeds. However, if you wish, you can
withdraw/retransfer the money, only on T+2 day (T stands for day of trading) by opting
for ‘pay-out’ from the site of Broker or provide instructions over phone.
25) Do I need to give / receive cheques for my purchase?
A-You need not give / receive cheques. Instead, you can transfer funds online through
the net banking facility available with you
26) When will I get shares on my purchase?
A-You will get shares in your DP account with IOB on T+3 day, if the same is received
from the exchange on payout.
27) Do I need to give Delivery Instruction Slip (DIS) against my sale?
A- No. DIS is not required. As you have given Power of Attorney for transfer of the
shares sold by you, the shares will be transferred to Stock Exchange.
28) Where and how will I get my transaction details?
A-You can view the transaction details under Reports in your trading portal. You can
also view your ledger in the back office login as well as through your mobile apps.
29) How do I get the Bills / contract note?
A- You can get all bills contract notes through your registered e mail id
30) Can I Buy shares today and sell those shares tomorrow?
Ans:- Yes, you can do buy today and sell tomorrow.
31) Can I trade in Derivatives against the shares sold on the same day?
If shares are sold, the credit available in your trading account is only notional and real
credit will be reflected only on T+2 day (2 Stock Exchange working days after T day i.e.
Transaction). Hence you can trade in derivatives only on the T+2
nd
day. However, you
can buy shares in equity cash segment on T day itself.
General
32) Can I get the research reports and recommendations?
A- Yes. You can get fundamental research reports on emkayglobal.com site and also
through SMS
33) Whom do I contact in case of difficulty?
A-There is a query section on emkayglobal.com website, you can type your queries
there or you can contact Emkay’s / SMC’s nearby offices.
Connect to the SMC’s Trading portal (http://smcindiaonline.com)
Connect to the Emkay’s Trading portal (http://trade.emtrade.in/)
