Demat Account Charges Of All Banks | Know In Detail

To invest in the stock market, it has become necessary to have a Demat account now. In fact, the Demat account is through which the trades are bought in the stock market. So let’s get to know about Demat accounts, how Demat account works and Demat account charges. Check them below…

What Is Demat Account?

Demat is meant to eliminate the paperwork for the purchase and sale of shares and to give it digital form. When shares/stocks are traded, Demat Account provides a storage facility, through which shares are digitized and deposited in the account. The Demat account is like a special account, whose main purpose is to provide security to the shares/stocks, it can be safely deposited and transferred to the shares/stocks.

Whereas in simple words, in the case of a bank account, the money is kept safe by providing a digital form, so in the Demat account, shares/stocks are digitally stored and stored safely.

Note:

Through Demat account, you can apply for IPO, purchase of shares, dematerialize the shares, transfer, and shares.

Source :-  content.icicidirect . com

How To Open Demat Account?

The opening of Demat Account is a two-step process. See below…

• You must first contact the nearest Depository Participant (DP). The position of the nearest DP recognized can be learned from the website of NSDL and CDSL.
• You will have to go to DP by taking your two photos, PAN card, residence certificate, bank account statement (original and self-verified copy) and fill out the account opening form.
• After completion of the process, the Demat account number and DP ID number will be available. You will have to provide both numbers for transactions with your DP.

Note:

You have to pay the annual fee to your DP for maintenance of the DP account. Now the charge is 200-500 rupees. This fee will be revised from the new year. Delivery slip book is given by the Depository Participant in 5 days, which is like a checkbook of Demat. You need it to make transactions. Therefore, keep it safe. For retail investors, the government has started the facility of demat account with no annual fee.

Source :- mediad.publicbroadcasting . net

Demat Account Charges:

There are few charges you have to pay when you open Demat account. So let’s know below what are these Demat account charges you have to pay.

Opening Charges:

The opening charges of Demat account are nominal. Some banks open Demat account for free and some banks charges for opening Demat account.

Some banks offer Demat account for free if you open 3 in 1 account where you can open Savings account, Demat account, and trading account.

Safety Charges:

Demat account provides you the safety of your shares and share certificates. You do not have to worry at all of your shares and share related information if you have a Demat account. Demat account charges you for this safety. This is one of the Demat account charges.

Annual Maintenance Charges or AMC:

This is another Demat account charges you have to pay. If the balance of your Demat account is 50,000 and below you do not have to pay charges. But if your account holds 50,001-2 lakhs you have to pay charges depending on your transactions.

Transaction Charges:

This is another Demat account charges. This charge is based on how many transactions you made.

Demat and Remat Charges:

This is another Demat account charges. Bank charges you for rematerializing or dematerializing physical shares.

Below I am giving information about different banks taking charges for Demat account. See below…

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Source :- investallign . in

Demat Account Charges Of Different Banks:

1. Wisdom Capital Demat Account:

Demat Account Opening Charges: Free

Demat Account Annual Maintenance Charges: Rs 0.00 (Ultimate Plan)

Depository Participant Charges: Rs. 15

Trading Account Opening Charges: Free

2. ICICI Direct Demat Account:

Demat Account Opening Charges: RS. 975

Demat Account Annual Maintenance Charges: RS.500 (Free First Year)

Depository Participant Charges: RS. 5.50

Trading Account Opening Charges: Free

3. ANGEL Broking Demat Account:

Demat Account Opening Charges: RS. 250

Demat Account Annual Maintenance Charges: RS. 450

Depository Participant Charges: RS. 21

Trading Account Opening Charges: Free

4. KOTAK Securities Demat Account:

Demat Account Opening Charges: NIL

Demat Account Annual Maintenance Charges: RS. 600

Depository Participant Charges: 0.04%

Trading Account Opening Charges: RS. 750

5. HDFC Securities Demat Account:

Demat Account Opening Charges: NIL

Demat Account Annual Maintenance Charges: RS. 750

Depository Participant Charges: 0.04%

Trading Account Opening Charges: RS. 999

6. ZERODHA Demat Account:

Demat Account Opening Charges: RS. 100

Demat Account Annual Maintenance Charges: RS. 300

Depository Participant Charges: RS.13.5

Trading Account Opening Charges: RS. 200

7. SHAREKHAN Demat Account:

Demat Account Opening Charges: NIL

Demat Account Annual Maintenance Charges: RS. 750

Depository Participant Charges: RS. 16

Trading Account Opening Charges: NIL

8. SBI Securities Demat Account:

Demat Account Opening Charges: RS. 100

Demat Account Annual Maintenance Charges: RS. 500

Depository Participant Charges: 0.01% (MIN RS.21 MAX 300)

Trading Account Opening Charges: RS. 850

9. RKSV Demat Account:

Demat Account Opening Charges: RS. 150

Demat Account Annual Maintenance Charges: RS. 150

Depository Participant Charges: RS. 15

Trading Account Opening Charges: RS. 150

10. 5 PAISA Demat Account:

Demat Account Opening Charges: NIL

Demat Account Annual Maintenance Charges: RS. 400

Depository Participant Charges: RS. 25

Trading Account Opening Charges: RS. 650

Source :- londonmet.ac . uk

FAQs Regarding Demat Account Charges:

Q. How many Demat account charges are there?

A. There are various kinds of demat account charges. These are… Opening Charges, Safety Charges, Annual Maintenance Charges or AMC, Transaction Charges, Demat and Remat Charges

Q. Is opening of Demat account free?

A. No. Many banks charges for opening Demat account. And many banks open Demat account for free.

Q. How many demat accounts one can have?

A. There is no limitation. One can have multiple Demat accounts if they want.

Q. What are the charges for Demat account?

A. If you have a balance of 50,000 on your Demat account, usually you do not have to pay any charges. But if you hold more than 50,000 balance in your account you have to pay charges according to your bank.

Q. Can one have 2 demat accounts?

A. Yes. But you can not have 2 Demat accounts with the same broker or DP.

Q. How many demat accounts are there in India?

A. According to National Securities Depository Ltd, and Central Depository Services Ltd there are nearly 3 million Demat accounts in India in 2008.