An inter-depository SGB transfer refers to moving dematerialized Sovereign Gold Bonds (SGBs) from one depository to another, such as CDSL to NSDL or vice versa. Your Upstox account is maintained with CDSL.

To transfer SGBs from a CDSL Depository Participant (DP) to an NSDL DP, follow the steps below:

Steps for SGB Transfer

1. Submit a Rematerialization Request to CDSL DP (Upstox):

• Complete the Rematerialization (Remat) Request Form with the details of the SGB units and series you wish to rematerialize.
• Attach the following documents:
• A self-attested ID proof and address proof.
• The remat form for each SGB series/ISIN.
• Send these to the address provided below.

2. Submit a Dematerialization Request to NSDL DP:

• Submit a Demat Request Form to your NSDL DP.
• Attach:
• A Value-Free Transfer Letter for each SGB series/ISIN.
• A Statement of Holding from your CDSL DP, duly stamped and signed by an authorized signatory, confirming the SGB units in your account.
• An NSDL Demat account Client Master Report (CMR) with DP seal and signature.

3. Document Coordination Between CDSL and NSDL:

• Once NSDL DP receives all necessary documents, they will forward the dematerialization request and supporting documents to NSDL.
• CDSL will coordinate with NSDL to facilitate the transfer of SGB units between the depositories.

Documents Required

• Rematerialization Request Form for each SGB series/ISIN.
• Self-attested PAN.
• Value-Free Transfer Letter for each SGB series/ISIN.
• NSDL Demat Account CMR with DP seal and signature.

Submission Address

Send the completed forms and required documents to the following address:

Harishchandra Sawant (Upstox)
30th Floor, Sunshine Tower,
Senapati Bapat Marg,
Dadar (W), Mumbai – 400013
Phone: +91-22-6130-9999

Timeline

Once the documents are received, the process will be completed within 3–4 working days.