Features

Constituent SGL account is opened by the bank for constituents who wish to invest in government securities and treasury bills. Bank will in effect maintain a demat account for these instruments in the name of the constituents.

 

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Strict security under strict guidance of the Reserve Bank of India.
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Periodic coupon payments are automatically credited to the SB/CD account of constituents.
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Securities are credited to the gilt account on the value date of purchase/allotment. 
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The transaction amount is debited from the fund account (SB/CD) of the Gilt account holder only on the date of purchase/allotment in the case of auctions.
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Sale proceeds are credited to the SB/CD account of the gilt account holder on the date of sale itself.
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Periodic interest is credited to the fund account on due dates.
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Redemption amount is credited to the SB/CD account on due dates.
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No risk of theft / fraud / misappropriation / loss as the holdings are in demat form.
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Delay in transfer of securities is fully eliminated.
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Transactions in smaller amounts allowed.
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Statement of Balance available on demand.
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Delivery and settlement is guaranteed by CCIL

How to apply ?

Who can open?

  • Resident Individuals
  • Firms
  • HUF
  • Institutions
  • NRIs
  • PF/ Pension/ Gratuity trusts
  • Urban/town/ primary/ district co-operative banks
  • Credit co-operative societies/ Non banking financial companies/ brokers/ financial intermediaries etc

 

How to Open?

A Gilt account can be opened by submission of the following documents in the nearest branch of the Federal Bank.

  • Application for opening a Gilt account duly supported by relevant documents.
  • Agreement executed in stamp paper (stamp duty varies from state to state).
  • Application for opening CD/SB account with necessary documents.

Documents Required

  • Application Form
  • Agreement
  • Identity and address proof of the operators of the account
  • Copy of PAN card of the operators
  • Resolution of the Board/Trust

Services Offered

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 Dematerialization of securities held in physical form,
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 Subscription to government securities through competitive and non competitive bidding. 
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 Provide market related quotes for security transaction on request.
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 Undertake purchase and sale of Government securities in the secondary market.
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Free fund transfer facility for enabling security transaction.
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Collection of periodical interest and redemption of the securities for credit to CD/SB account.
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Provide training in dealing and setting up treasury of the constituents.
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Advisory services for purchase/sale of securities and for placing bids in security auctions.