How to transfer SGB from NSDL to NSDL and NSDL to CDSL

• If target demat account is NSDL:

• SGB (Sovereign Gold Bonds) can be transferred NSDL → NSDL through the regular closure-cum-transfer process.

• If target demat account is CDSL:

• Client must complete an additional process before submitting the closure request:

1. Submit Annexure-UC and Free Value Transfer form at Kotak Neo Branch.
   o Once processed in NSDL system, DP/OPS will send the Remat report to the client’s home branch.
   o The home branch will forward the report to the client after putting our stamp.
   o Client will be charged Rematerialization charges from our end as per schedule of demat charges.
   

2. Submit the Remat report, Demat Request form (Annexure U), and Free Value Transfer form to the CDSL DP(Target DP). Annexure-U form is generally given by target CDSL account but he can also ask them to provide this form.
   o The CDSL DP will process the demat request with a DRN number.
   o They will send the complete details file to CDSL for processing.
   

3. After NSDL receives counterparty confirmation from CDSL, NSDL will:
   o Debit the bond from the client’s Kotak Neo DP account.
   o Credit the bond into the client’s CDSL DP account.
   

• Important timeline:

• Client should submit documents to CDSL/Target demat within 10 days.

If the counterparty confirmation and complete process are not completed within 30 days, NSDL will reject the request