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Stock Brokers with Zero AMC

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bikidas2060

SEBI guidelines for BSDA (Basic Service Demat Accountis as given below

  • AMC= ₹0 if stock holding < ₹50k,
  • AMC= ₹100 if ₹50k<stock holding<₹2lakh 
  • AMC= As per stock broker's rules if stock holding > 2lakh
  • Source: https://www.sebi.gov.in/media/press-releases/au...
  • The customer has to have only one DEMAT account across all the depositories. Ex: I have Zerodha and Sharekhan. I am not eligible for BSDA.

How to avail it?

Contact your broker for the same. 

That's general awareness, which is known to everyone. Today we will talk about brokers who have basically 0 AMC charges.

1) Kotak Securities

"....customers who have holdings of less than ₹10,000 have to pay zero AMC charges going forward. In addition, clients of Kotak Securities can now also make changes in their Demat Account at a zero cost."

Source: https://www.kotaksecurities.com/media-coverage/... 

If stock holding > 10k then make sure that you have a BSDA. Otherwise AMC is ₹600 + 18% GST.

Acount opening charges: ₹0

Brokerage: 0.25% (Trade free plan)/ 0.39% (Dealer Assisted Plan)

DP Charges: 0.04% of the value of securities (min ₹20)

Refer: https://www.kotaksecurities.com/landing-page/de... and https://www.kotaksecurities.com/kotak-trade-fre...

2) Fyer's

For a limited period of time Fyer's is giving 0 AMC accounts. Best part is delivery charge is 0. Refer https://fye...n/ 

Account Opening Charges: ₹0

DP Charges ₹12.5 + 18% GST

Auto Square Off Charges: ₹50+ 18% GST

Payment Gateway Charges ₹0 (https://fyers.in/support/article/are-there-any-...)


3) Dhan

New kid on the block is making waves. ₹0 account opening fee, ₹0 AMC charges, ₹0 delivery charges. It sounds nice. It is actually nice. I can vouch for it. 🙂 Source: https://dhan.co/p...ng

DP Charges ₹12.5 + 18% GST

Payment Gateway Charges: ₹10(Net Banking)/ ₹0 (UPI)

Auto Square Off Charges: ₹20 + 18% GST

4) Prostocks

0 AMC if one pays ₹1000 (refundable) deposit. ₹0 brokerages delivery charges. ₹0 account opening charges.

DP Charges: ₹20+ GST

Call and Trade: ₹10(Intraday), ₹20 (Delivery)

5) Ventura

₹0 AMC if one pays ₹3000 (refundable) deposit. Source: https://www.ventura1.com/Static/Scheme_C_DP_Tar... 

Please consult https://beta.ventura1.com/products#eq...es for more details

6) Motilal Oswal 

As per them if one maintains ₹25000 margin for 9 days in their DEMAT after account opening then AMC will be lifetime free. 2nd condition is to avail a value pack worth ₹3000 or more within 9 days of account opening to avail LTF AMC. Source: https://www.motilaloswal.com/campaign/Registrat...

7) Finvasia Everything costs ₹0. 🐒 Refer https://finvasi...m/ for more info. https://finvasia.com/p...ng gives a list of charges



Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
Deal Cadet Deal Cadet
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I've been a finvasia user for about a year. It suits my needs ( I don't follow daily stocks, just buy during dip or when a sector I follow has policy changes)

Generous Generous
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When you are serious about long term investment with plans of a sizeable corpus it is not a good idea to bother about 300-400 AMC charges (it will be really negligible with a decent size portfolio). There would be many things which would be easy with big discount brokers like upstox, zerodha (ease of operations, customer support, withdrawals wat not). My personal opinion only feel free to ignore. 

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Hunk Hunk
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tryhotdeals wrote:

where are list of charges of bsda comparatively to normal amc mentioned?

you have to Google about em. Those charges are mentioned in respective broker’s websites. 

Finance Mentor Finance Mentor
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bikidas2060 wrote:

rightly said, bhai. Yes, Zerodha’s BSDA is compatible with IDFC 3 in 1 account. 

what is zerodha BSDA bro , its benefits and how to open it

Hunk Hunk
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beastboy wrote:

what is zerodha BSDA bro , its benefits and how to open it

basically AMC (conditional) becomes zero. 🙂🙂🙂 Zerodha automatically processes those things. Condition is you gotta have only one demat account. 

Finance Mentor Finance Mentor
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bikidas2060 wrote:

basically AMC (conditional) becomes zero. 🙂🙂🙂 Zerodha automatically processes those things. Condition is you gotta have only one demat account. 

Okhay … I was thinking BSDA is similar to BSBDA savings account 
Thanks for the clarification bro

Hunk Hunk
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@amdoinggood123 bhai. Yesterday I transferred 100 rupees from my Dhan account to my bank, it was  settled by yesterday only. They are quickly fixing things. 

Deal Newbie Deal Newbie
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Go for finvasia zero brokerage on everything, I have been using it for about more than 2 years for now for both options and delivery trades and moreover they have updated there app on playstore and is absolutely nice and easy of use just like zerodha with more features..

https://prism.finvasia.com/re...er

Deal Newbie Deal Newbie
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Never open demat & trading account with Motilal oswal. No. 1 frauds. No transparency, worst web & app interface, pathetic & rude customer care, most of the times app & website down. 1.35 lakhs negative balance shown in my trading account in the against Loan against securities. I had lodged complaint with NSE, SCORES & RBI. Motilal oswal refused to give justification for negative balance stating the reason that Loan agaist securities doesn’t come under purview of NSE, RBI & SCORES.

Deal Subedar Deal Subedar
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Open account in zerodha using my link and get 1000 after confirmation that your account is mapped under me. DM me for referral link

Deal Newbie Deal Newbie
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Finvasia is best
No AMC No brokerage

100% best for traders

Hunk Hunk
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ssmaikap wrote:

Finvasia is best
No AMC No brokerage

100% best for traders

no no. For a trader there are other important factors such as execution speed, downtime, reliability etc. Finvasia is good for a newbie. In my opinion Zerodha is best for a newbie. And a small charge should be given for those services.

Deal Newbie Deal Newbie
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From my personal experience, I faced downtime twice. Otherwise there were no issues at all. Since my no. of trades are much every day. So I save brokerage a lot. I have other accounts like sharekhan, upstox, 5 paisa, fyer, alice blue also. But finally I use finvasia for daily trading to save brokerage.

Deal Newbie Deal Newbie
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In addition to the 7 brokers, Groww provides 0 AMC and 0 account opening charges. However Equity delivery is not free, there is a very small charge(max 20 rs), and options and futures trading is 20 rs like Zerodha. 

My experience among the 7 have been in 

Finvasia – These guys have exceeded my expectations, For a free platform, they have provided a great experience. I do trading only in finvasia, so far so good.

Dhan – Only created account, Onboarding was smooth. Post login UI looks fab. Should see how the experience is going forward. 

Deal Newbie Deal Newbie
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In addition to the 7 brokers, Groww provides 0 AMC and 0 account opening charges. However Equity delivery is not free, there is a very small charge(max 20 rs), and options and futures trading is 20 rs like Zerodha. 

My experience among the 7 have been in 

Finvasia – These guys have exceeded my expectations, For a free platform, they have provided a great experience. I do trading only in finvasia, so far so good.

Dhan – Only created account, Onboarding was smooth. Post login UI looks fab. Should see how the experience is going forward. Yet to start buying/selling shares.

Deal Cadet Deal Cadet
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Can anyone pm me refer code for Fyers 

Benevolent Benevolent
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kukdookoo wrote:

non BSDA -> 300+ gst.

bsda aur non bsda ke charges kaha mention honge?

Zerodha does everything automatically.

matlab they automatically shift you to bsda or non bsda?

From what I have read on their website Yes they do it automatically.

“If you’re opening a DEMAT account ”https://support.zerodha.com/category/account-op..." rel=“noopener noreferrer”>online , the conversion of your account to a Basic Service Demat Account(BSDA) will be automatic if it meets the below-mentioned criteria.

On the date of account maintenance charge(AMC) billing, if the value of your assets(stocks+Mutual funds) falls below Rs. 2,00,000/-, then your account automatically qualifies as a BSDA account.

Currently, at Zerodha, we charge all our clients quarterly from the account opening date."


Not sure about Upstox.


Hunk Hunk
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Ash-D wrote:

From what I have read on their website Yes they do it automatically.

“If you’re opening a DEMAT account ”https://support.zerodha.com/category/account-op..." rel=“noopener noreferrer”>online , the conversion of your account to a Basic Service Demat Account(BSDA) will be automatic if it meets the below-mentioned criteria.

On the date of account maintenance charge(AMC) billing, if the value of your assets(stocks+Mutual funds) falls below Rs. 2,00,000/-, then your account automatically qualifies as a BSDA account.

Currently, at Zerodha, we charge all our clients quarterly from the account opening date."


Not sure about Upstox.


No Upstox does not do it automatically

Benevolent Benevolent
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bikidas2060 wrote:

No Upstox does not do it automatically

So then as per their website we have to fill a form and  courier it to them in order to get it converted.

Hunk Hunk
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Ash-D wrote:

So then as per their website we have to fill a form and  courier it to them in order to get it converted.

ji bhai. 🙂🙂🙂

Benevolent Benevolent
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bikidas2060 wrote:

ji bhai. 🙂🙂🙂

Bro suggest best demat account as thinking of applying in IPO starting with Adani Wilmir (how is it?) mainly listing profits in mind for now.


Since I am a newbie and just starting up so was looking for no or low charges & from above comments I was considering finvasia as they have no charges at all.


Other option I was considering was BSDA account In Zerodha or Upstox but Zerodha have opening charges and Upstox doesn’t have direct/online BSDA account opening process.


Please Guide me through this.

Hunk Hunk
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Ash-D wrote:

Bro suggest best demat account as thinking of applying in IPO starting with Adani Wilmir (how is it?) mainly listing profits in mind for now.


Since I am a newbie and just starting up so was looking for no or low charges & from above comments I was considering finvasia as they have no charges at all.


Other option I was considering was BSDA account In Zerodha or Upstox but Zerodha have opening charges and Upstox doesn’t have direct/online BSDA account opening process.


Please Guide me through this.

fyers/dhan. 0 AMC, 0 Account Opening Charges. 🙂🙂🙂 No BSDA jhinjhat. 

Benevolent Benevolent
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bikidas2060 wrote:

fyers/dhan. 0 AMC, 0 Account Opening Charges. 🙂🙂🙂 No BSDA jhinjhat. 

Why not finvasia or grow they seems to have the same and are much popular too I guess.

Hunk Hunk
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Ash-D wrote:

Why not finvasia or grow they seems to have the same and are much popular too I guess.

finvasia is entirely free. That fact makes me nervous. Where is the catch? 

groww has bad charts, delivery charge brokerage as well. 

🙂🙂😁

Benevolent Benevolent
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bikidas2060 wrote:

finvasia is entirely free. That fact makes me nervous. Where is the catch? 

groww has bad charts, delivery charge brokerage as well. 

🙂🙂😁

Ohh read at some places they have other ways to make money or maybe they are inspired by Jio model 😬
What’s your thoughts on Adani Ipo?

Hunk Hunk
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Ash-D wrote:

Ohh read at some places they have other ways to make money or maybe they are inspired by Jio model 😬
What’s your thoughts on Adani Ipo?

jio still takes money. Please don’t go with it. Dhan/Fyers are excellent choices.

no idea about it. 🙂🙂

Benevolent Benevolent
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Just an update I talked to Upstox chat support he said they are not opening Bsda accounts anymore.

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