A Noob’s Guide to SGB Transfers from One Demat Account to Another Deposit (CDSL to CDSL)

I’m writing this because I couldn’t find a guide for this when I wanted to. Most were among the repositories which didn’t help much. The process is similar to stock transfer but as a noob, I didn’t know and it didn’t provide much clarity. So this is a guide, by a noob, for other noobs.

I had an Angel One account and a new Zerodha account. When I bought SGB only Angel was active and so I had to buy the SGB in this account due to the buy close window.

Unfortunately, I later disliked Angel due to its vintage user experience, lack of security, and insidious data collection, which made me want to switch and close that account. The need to transfer SGB arose.

I contacted Angel, but for closure-cum-transfer, they wanted snailmail which is something I would rather not do, so I wanted to do everything online. If I’m going to transfer SGB myself, then Angel will close the account with an email, so that seemed like the best way to go.

Fortunately, most new age brokers seem to use CDSL, so if you’re lucky, you should follow this simple process rather than the cross-deposit one.

I’m writing this as a first time user, others can click to improve/correct anything in these steps:

1. Subscribe to CDSL Easiest. AFAIK, Easi = Easiest Lite. It’s a version of Easiest with limited features, so for full control, subscribe to Easiest.

2. Follow any of the YouTube guides and use your old demat account details while registering.

3. In the sections after registration where you need to link the BOID and map accounts, add the new account you want to transfer the SGBs to.

4. It may take a day or two to be fully authenticated and approved by the entities before you can trade. You will receive an email once approved. You will also receive the PINs/passwords that you will need later for the transaction.

5. Go to Easier Transaction > Setup > Bulk Setup to set up the transfer. Follow the steps here to start the transfer.

6. Once done, it will take a day or two to complete the transfer. You will receive emails with updates.

7. Once the transfer is complete, you will see the SGBs in the portfolio tab of the Kite app but they will show a warning sign. This is because Zerodha does not have the original purchase details. Click to book, click to fix the difference.

8. It will ask for the original purchase date and price. Enter it and it will take some time for Zerodha to correct the values.

9. Once completed, they will appear as normal farms with their purchase value, current value, etc.

10. And it happened.

Even when moving from Zerodha account to another Zerodha account, CDSL porting is better than using Zerodha gift feature due to poor logic implementation in shared gifts feature

Another important thing to emphasize is that CDSL is very confusing wrt passwords. There are three passwords. This was extremely confusing for me and I failed to transfer many times because of it.

1. CDSL The easiest connection code – The password to connect
2. TPIN – The password to authenticate the transfer. 6-digit numeric pin. We use this same thing
3. Alphanumeric Password – This is different from the login password and TPIN. It is an alphanumeric PIN used in the last step of the password. This is in the message you receive after signing up for CDSL Easier. You can also reset it with security questions.

The alphanumeric PIN was the most confusing part. I kept entering my TPIN over and over and the account got locked.