Basic Service Demat Account (BSDA) is a regular demat account with No or Low Annual Maintenance Charges based on the guidelines laid by SEBI.
Circular Number:SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/91 dated June 28, 2024.
If your account fulfills the following criteria, it will be converted to a BSDA account:
1) All the individuals who have or propose to have only one demat account where they are the sole or first holder.
2) Individuals having any other demat account/s where they are not the first holder shall be eligible for BSDA in respect of the single demat account where they are sole or first holder.
3) The individual shall have only one BSDA in his/her name across all depositories.
4) Value of securities held in the demat account shall not exceed Rupees Ten Lakhs at any point of time.
Charges Slab
The charge structure may be on a slab basis as indicated below:
1. No Annual Maintenance Charges (AMC) shall be levied, if the value of holding is upto Rs. 400,000.
2. For the value of holding more than Rs 400,000 to upto Rs 10,00,000, AMC not exceeding Rs 100 may be charged.
No Annual fee will be charged if your account has securities worth Rs. 400,000 or lower.
If your account meets the above mentioned criteria it will be converted to a BSDA account.
END
Whether any Annual Maintenance charge (AMC) will be levied by DP to BSDA category accounts?
The following are the Annual Maintenance charge (AMC) charged for a BSDA account
The charge structure may be on a slab basis as indicated below:
1. No Annual Maintenance Charges (AMC) shall be levied, if the value of holding is upto Rs. 400,000.
2. For the value of holding more than Rs 400,000 to upto Rs 10,00,000, AMC not exceeding Rs 100 may be charged.
No Annual fee will be charged if your account has securities worth Rs. 400,000 or lower.
Besides the AMC, the DP charges for a BSDA account are different from a basic retail account, please Click Here to view & download the Schedule of Charges.
If your accounts meets the above mentioned criteria, your account wil be automatically converted to BSDA
What is eligibility Criteria for BSDA defined by SEBI?
Basic Service Demat Account (BSDA) is a regular demat account with No or Low Annual Maintenance Charges based on the guidelines laid by SEBI.
Circular Number:SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/91 dated June 28, 2024.
If your account fulfills the following criteria, you can request to convert your account to a BSDA account :
1) All the individuals who have or propose to have only one demat account where they are the sole or first holder.
2) Individuals having any other demat account/s where they are not the first holder shall be eligible for BSDA in respect of the single demat account where they are sole or first holder.
3) The individual shall have only one BSDA in his/her name across all depositories.
4) Value of securities held in the demat account shall not exceed Rupees Ten Lakhs at any point of time.
Charges Slab
The charge structure may be on a slab basis as indicated below:
1. No Annual Maintenance Charges (AMC) shall be levied, if the value of holding is upto Rs. 400,000.
2. For the value of holding more than Rs 400,000 to upto Rs 10,00,000, AMC not exceeding Rs 100 may be charged.
No Annual fee will be charged if your account has securities worth Rs. 400,000 or lower.
END
If eligible how to apply for BSDA facility?
As per the SEBI circular SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/91, the Basic Services Demat Account (BSDA) facility is being offered to demat account customers who fulfill the following criteria:
1. The account should be in the name of an individual as a sole or first holder (In case of a joint account)
2. The individual who wishes to have a Demat Account with the BSDA facility, should have only one demat account across all depositories
3. The value of the securities held in the demat account should not exceed Rs.10 Lakhs at any point of time
In case your account meets the above criteria your account will be automatically converted to BSDA.
India
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