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Comparison of demat accounts in India

Comparison of demat accounts in India

A demat account is a convenient way to hold most of your investments – from stock and mutual funds to NCDs and NSC. Here’s how depository participants are charging customers.

A demat account – short for dematerialised account – is convenient for any regular investor. While initially meant only for storing equities electronically, you can now hold mutual fund units, bonds, debentures and national savings certificate. If all goes according to plan, perhaps you’ll be able to control your insurance policies here, too.

Its best use, now that you can have control online, is that you can make changes at your convenience. You can simply log in and transact in shares. It also gives you access to certain investments that would not be beyond reach without it. ETFs and NCDs, for example, require an active demat account.

The service is offered by depository participants (DPs), which can be banks, trading houses and other financial institutions. Here’s a list of their charges and fees.

As per Basic Services Demat Account, introduced by SEBI in August 2012, no annual maintenance charge will be levied on an account in which the holdings do not exceed Rs50,000. There is no restriction on how many accounts you can hold:

DP Account opening charges Annual maintenance charges Brokerage
Angel Broking Rs390 First year free, Rs300 thereafter 30p per transaction, delivery based
6p per transaction, intra-day based
HDFC Securities Rs999 Rs300 to Rs750, depending on number of transactions 0.5% of transaction value, delivery based
0.05% of transaction value, intra-day
ICICI Direct Rs975 First year free, Rs500 thereafter 0.25% to 0.75%, depending on transaction value
IndiaBulls Rs1,350 Rs450 0.4% of transaction value, delivery based
0.04% of transaction value, intra-day based
Kotak Securities Rs750 Rs600 0.59% to 0.18% depending on transaction value, delivery based
0.06% 0.03% depending on transaction value, intra-day based
Reliance Securities Rs950 First year free, Rs200 thereafter 50p per transaction, delivery based
5p per transaction, intra-day
SBI Rs500 Rs350 75p per transaction, delivery based
5p per transaction, intra-day based
Sharekhan Rs0 (Online account) First year free, Rs400 thereafter 0.1% of transaction value, delivery based
0.5% of transaction value, intra-day based

*Correct as on October 8, 2013

Accounts with a fixed transaction charge (Angel Broking, Reliance Securities, SBI) have a big edge over those that charge a percentage of the transaction value.

2 Comments

  1. Alfred Hitch February 13, 2014 at 1:52 PM

    “Accounts with a fixed transaction charge (Angel Broking, Reliance Securities, SBI) have a big edge over those that charge a percentage of the transaction value”

    75p = 0.75% 5p = .05%
    They are not fixed charges..

  2. mihir April 21, 2014 at 9:23 AM

    I have question regarding brokerage..so how they calculated brokerage?
    In angel broking there is 30p per transaction so how they calculated ?

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