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Simplified online process for NSDL demat account holders to avail SPEED-e facility
NSDL has launched a simple online process to enable demat account holders to avail NSDL’s Internet based SPEED-e facility. The registration process can be completed online without the need to visit office of your DP.
Steps to Register are given below -
- Visit NSDL e-Services website https://eservices.nsdl.com.
- Click option New user registration → SPEED-e
- Select option A) Clients → Password Users → REGISTER
- Fill up the details online.
- Add CM BP ID(s) of your Clearing Member(s) (Stock brokers) under Pre-notified Accounts. You may add upto 6 members.
- An One Time Password (OTP) will be sent on the mobile number and email ID registered in the demat account.
- Validate your registration request using the OTP received.
- Upon successful validation of OTP, registration request will be sent to concerned DP and Clearing Member(s) for authorisation.
- DP will authorize the registration request electronically and inform you through email.
- Clearing Member(s) will authorise client’s request for addition of pre-notified account through SPEED-e facility. Incase, your Clearing Member has not subscribed to SPEED-e facility, then you need to submit a consent letter in a prescribed format from CM to your DP.
- You will be able to access SPEED-e facility after authorisation by your DP and may submit instructions after successful authorisation of addition of pre-notified account by Clearing Member.
Detailed information is available at Circular No. NSDL/ POLICY/2020/0054 dated April 29, 2020.