Mutual Fund SIP | Want to gift shares or mutual funds to your friends? See the easy process
Mutual Fund SIP If you want to give a gift to your friends, relatives or loved ones whose value increases with time, then gifting stocks, mutual funds or gold bonds can be the best option. In today's world, it is not only a unique gift but can also provide financial security in the future. With the help of a Demat account, you can easily gift stocks or ETFs for which both offline and online options are available. Let us know how you can transfer stocks or mutual funds to a person.
How to gift stock
If you want to gift stock to someone offline, you will have to go to the office of your brokerage. Submit a Delivery Instruction Slip (DIS) there. After entering the information of both sender and receiver in this form, it has to be submitted to the broker office. The shares or ETFs are then transferred from your demat account to the recipient's account. The brokerage firm charges a nominal fee for the process.
How to gift stocks, mutual funds online?
If you want to gift stocks, mutual funds online, you can take the help of e-delivery instruction slip. Companies like Zerodha have simplified the process but for online gifting, a demat account at Zerodha is mandatory for both the sender and the recipient.
How to transfer shares, mutual funds through Zerodha app?
If you have a demat account with Zerodha, the process of gifting stocks is quite simple. First of all login to your Zerodha account. Then go to the Console option in the Profile section. Select the 'Gift Stock' option from here. After entering the recipient's name, mobile number and email ID, select the stock to gift from your holdings. From here, as soon as you gift the stock, a notification will be sent to the receiver who must accept the gift within seven days. When the recipient accepts the gift, the sender has to approve it. After approval, the shares will be transferred from your demat account to the recipient's account.
Understand here step by step
* Log in to Zerodha account * Click on 'Console' option in the profile section. * Select 'Gift Stock'. * Enter the recipient's name, mobile number and e-mail ID. * Select a stock from your holding. * Sender must approve after recipient accepts the gift. *Shares will be transferred to the demat account of the recipient.
Disclaimer : Investing in mutual funds and stock market is based on risk. Before investing in the stock market, definitely consult your financial advisor. tezzbuzz.com will not be responsible for any financial loss.
Comments are closed.