Do you know now you can gift someone stocks or mutual funds? Yes, you’ve heard it right. Now you think, is it even possible? Your answer is yes. If you want to give a gift to your friends, relatives, or loved ones whose value increases with time, then the gift of stocks, mutual funds, or gold bonds can be the best option. 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. Both offline and online options are available for this. Let’s know about it in detail.
How Stocks Are Gifted
If you want to gift stocks in offline mode, you will have to visit the office of your brokerage firm. There you will need to submit the Delivery Instruction Slip (DIS). This form contains information about both the sender and receiver. After filling it out, it has to be submitted to the brokerage office. The shares or ETFs are then transferred from your demat account to the receiver’s account. The brokerage firm charges a nominal fee for this process.
How to gift online
If you want to do this work online, you can take the help of an e-Delivery Instruction Slip (EDIS). Companies like Zerodha have made this process easier. However, for online gifting, both the sender and receiver must have a Demat account with Zerodha.
How to gift stocks through the Zerodha app
If you have a Demat account with Zerodha, the process of gifting stocks is extremely simple. First of all, login to your Zerodha account. Then go to the Console option in the Profile section. Select the option “Gift Stocks” from here. Enter the receiver’s name, mobile number, and email ID. Then, choose stocks to gift from your holdings.
As soon as you gift the stocks, the receiver will get a notification, in which he will have to accept the gift within 7 days. When the receiver accepts it, the sender must approve it. After approval, the shares will be transferred from your demat account to the receiver’s account.
Understand step by step
1. Login to the Zerodha account.
2. Click on the “Console” option in the profile section.
3. Select “Gift Stocks.”
4. Enter the receiver’s name, mobile number, and email ID.
5. Select stocks from your holdings.
6. Once the receiver accepts the gift, the sender approves it.
7. The share will be transferred to the receiver’s demat account.
