COVID-19: Geojit Financial waives off brokerage charges for healthcare professionals

Brokerage Geojit Financial Services has decided to waive off brokerage charges for healthcare services professionals to appreciate their efforts amidst the COVID-19 pandemic. "We have waived off the annual maintenance charges and brokerage fee for our clients who are practising healthcare professionals. Through this offer for the entire year, we want to acknowledge the dedication and selfless service of these healthcare professionals fighting the COVID-19 pandemic," the Kochi-based brokerage said on Sunday.

The company has around 5 lakh clients in the brokerage business. When asked how how many of its clients will benefit from the offer, Geojit Executive Director Satish Menon said such such a break up is not possible as professional details are not part of the mandatory KYC (Know Your Customer) details.

He said the company has received around 50 enquiries on the first day of sending the message to clients about the waiver. The company charges Rs 600 per account holder annually for demat account, and 0.5 per cent of the traded value as brokerage charges, he said, adding that the waiver offer is not applicable to mutual funds/Systematic Investment Plan (SIP) clients.

The healthcare professionals, who are Geojit's clients and wish to avail the facility, will need to mail a duly-filled declaration along with the professional photo identity card, Menon said. "By offering our services free of cost, the financial well-being of these professionals can be taken care of to some extent," Menon said.

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