Need Suggestions for best demate account for LIC IPO

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Gujarat Titans
stoptomove

Need Suggestions for best demate account for LIC IPO.
low maintenance cost
fully online
low on brokerage
and safe
also if any rewards or referral.

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Deal Subedar Deal Subedar
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Groww. Some scratch card for referral

Mobile Guru Mobile Guru
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When are they coming with their IPO?
Seems like CDSL will soon fly high and i hope so CAMS does too biggrin
@malikcool @bikidas2060

Deal Cadet Deal Cadet
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So the advertisements are working.   

Crusader Crusader
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upstox has reward on refferal

Pro Shopping Friend Pro Shopping Friend
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MrKool_JJ wrote:

When are they coming with their IPO?
Seems like CDSL will soon fly high and i hope so CAMS does too biggrin
@malikcool @bikidas2060

Date is not announced yet.

Shopping Friend Shopping Friend
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Do you want to create a demat account only for ipo?

Gujarat Titans Gujarat Titans
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jaybro wrote:

Do you want to create a demat account only for ipo?

both IPO and trading

Deal Captain Deal Captain
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I have 5 paisa, if u want i can refer you.

Shopping Friend Shopping Friend
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stoptomove wrote:

both IPO and trading

Then go for best in the market(Zerodha). Benefits and referrals are secondary if you want to do disciplinary investment/trading. Many new brokers are giving free Annual Maintenance and opening charges, that’s doesn’t matter much. Mostly it costs(300) per year.

As per I know:
.
Low Maintenance cost: Mostly it is 300 per year, there are some brokers who are giving for free like Paytm money, grow..If you want to more into stock market, then AMC is nothing.
.
Fully online: Now all brokers have come online.
.
Low on brokerage : It depends upon no of transactions you do, some brokers charges fixed charge like 10/20 per transaction, some brokers charge like percentage on transaction amount. If you do more trading, just check percentage and fixed charge.
.
Safe: We can’t believe it because now a daya CDSL is getting breached. I prefer best in the market by ignoring benefits or referrals.
.
Rewards or referrals : I remember Upstox has some benefit, check online once.

Gujarat Titans Gujarat Titans
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kartikxxx wrote:

I have 5 paisa, if u want i can refer you.

I was having it but now it’s dormant.

Hunk Hunk
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Go for finvasia.

Hunk Hunk
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jaybro wrote:

Then go for best in the market(Zerodha). Benefits and referrals are secondary if you want to do disciplinary investment/trading. Many new brokers are giving free Annual Maintenance and opening charges, that’s doesn’t matter much. Mostly it costs(300) per year.

As per I know:
.
Low Maintenance cost: Mostly it is 300 per year, there are some brokers who are giving for free like Paytm money, grow..If you want to more into stock market, then AMC is nothing.
.
Fully online: Now all brokers have come online.
.
Low on brokerage : It depends upon no of transactions you do, some brokers charges fixed charge like 10/20 per transaction, some brokers charge like percentage on transaction amount. If you do more trading, just check percentage and fixed charge.
.
Safe: We can’t believe it because now a daya CDSL is getting breached. I prefer best in the market by ignoring benefits or referrals.
.
Rewards or referrals : I remember Upstox has some benefit, check online once.

Do you have any idea which discount broker offers NSDL demat?

Gujarat Titans Gujarat Titans
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can we close a cdsl account directly at cdsl

Deal Newbie Deal Newbie
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for the same purpose I opened it with finvasia.

Let me know if anyone need referral. Do ping me.

Deal Cadet Deal Cadet
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jaybro wrote:

Then go for best in the market(Zerodha). Benefits and referrals are secondary if you want to do disciplinary investment/trading. Many new brokers are giving free Annual Maintenance and opening charges, that’s doesn’t matter much. Mostly it costs(300) per year.

As per I know:
.
Low Maintenance cost: Mostly it is 300 per year, there are some brokers who are giving for free like Paytm money, grow..If you want to more into stock market, then AMC is nothing.
.
Fully online: Now all brokers have come online.
.
Low on brokerage : It depends upon no of transactions you do, some brokers charges fixed charge like 10/20 per transaction, some brokers charge like percentage on transaction amount. If you do more trading, just check percentage and fixed charge.
.
Safe: We can’t believe it because now a daya CDSL is getting breached. I prefer best in the market by ignoring benefits or referrals.
.
Rewards or referrals : I remember Upstox has some benefit, check online once.

If he only need for lic IPO and no future trading or very low future trading then groww is best as no amc.

Hunk Hunk
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Upstox / Groww / Finvasia / Paytm Money / Zerodha

https://cdn0.desidime.com/attachments/photos/740637/medium/Screenshot_2022-02-07_at_3.49.53_AM.png?1644186490

Better resolution image link: https://i.ibb.co/Wk4vQQY/broke...ng

# Account Maintenance Charges & Platform Usage charges are yearly.

# Brokerage charges are for equity delivery, applied per scrip/company, on both buy & sell. Number of shares does not matter.

# DP Charges apply when you sell stocks, applied per scrip/company. Number of shares does not matter.

# Funding charges for Groww are not known to me, if someone knows, please let me know, I’ll update.

# Funding charges are applicable if funds are added to trading account via netbanking option. You can avoid these charges by using UPI/IMPS/NEFT, which are free, but have daily limits, which should be fine for most people.

# GST is extra for all charges

PS: Finvasia, Groww & Paytm Money mention their zero maintenance charges on their pricing page, but Upstox does not for some reason. For Upstox, you’ve to go to account opening page and there they show this:

https://cdn0.desidime.com/attachments/photos/740636/medium/Screenshot_2022-02-07_at_2.11.59_AM.png?1644180154

Deal Cadet Deal Cadet
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atx88 wrote:

Upstox / Groww / Finvasia / Paytm Money / Zerodha

https://cdn0.desidime.com/attachments/photos/740637/medium/Screenshot_2022-02-07_at_3.49.53_AM.png?1644186490

Better resolution image link: https://i.ibb.co/Wk4vQQY/broke...ng

# Account Maintenance Charges & Platform Usage charges are yearly.

# Brokerage charges are for equity delivery, applied per scrip/company, on both buy & sell. Number of shares does not matter.

# DP Charges apply when you sell stocks, applied per scrip/company. Number of shares does not matter.

# Funding charges for Groww are not known to me, if someone knows, please let me know, I’ll update.

# Funding charges are applicable if funds are added to trading account via netbanking option. You can avoid these charges by using UPI/IMPS/NEFT, which are free, but have daily limits, which should be fine for most people.

# GST is extra for all charges

PS: Finvasia, Groww & Paytm Money mention their zero maintenance charges on their pricing page, but Upstox does not for some reason. For Upstox, you’ve to go to account opening page and there they show this:

https://cdn0.desidime.com/attachments/photos/740636/medium/Screenshot_2022-02-07_at_2.11.59_AM.png?1644180154

For upstox, AMC is 150+GST
https://upstox.com/demat-ac...t/

Deal Cadet Deal Cadet
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atx88 wrote:

On the link you shared, I’m seeing 0 AMC charges only. Where are you seeing 150?

Here is a screenshot of link you shared:
(see the 2nd block, says 0 AMC charges)

https://cdn0.desidime.com/attachments/photos/741191/original/Screenshot_2022-02-09_at_12.38.19_PM.png?1644390575


link for higher quality image: https://i.ibb.co/K7v6Zpk/upstox-A...ng

Check this:
upstox dot com/demat-account/
NOT
upstox dot com/open-demat-account/

Deal Subedar Deal Subedar
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For everyone

For each PAN if our holdings are less than Rs. 50,000/- then NO AMC is applicable be it Zerodha, HDFC or others.

Search about BSDA Account. As OP need it only for LIC IPO & assuming he will be allotted 1 lot [& has no other holdings] AMC will be ZERO.

What is a Basic Service demat Account? (zerodha.com)

P.S.  My preference would be ZERODHA.

Hunk Hunk
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DimeDime wrote:

Check this:
upstox dot com/demat-account/
NOT
upstox dot com/open-demat-account/

Hmm.. However, except for the header and footer, this seems to be the old website with blue theme, which you’re not redirected to if you start from their homepage.

Moreover, their homepage itself now clearly tells 0 AMC, so I think that is what should be considered on face value, atleast for new accounts opened. I’ve an old upstox demat account on which I think they’re still taking 75 per quarter.

Hunk Hunk
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beingsr wrote:

For everyone

For each PAN if our holdings are less than Rs. 50,000/- then NO AMC is applicable be it Zerodha, HDFC or others.

Search about BSDA Account. As OP need it only for LIC IPO & assuming he will be allotted 1 lot [& has no other holdings] AMC will be ZERO.

What is a Basic Service demat Account? (zerodha.com)

P.S.  My preference would be ZERODHA.

only Zerodha, IIFL etc automatically detect if the account is a BSDA or not. Otherwise, brokers like HDFC sec, ICICI Direct etc have separate form to be filled in.

Dhan n Fyer’s give free demat accounts without any conditions

Deal Cadet Deal Cadet
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atx88 wrote:

Hmm.. However, except for the header and footer, this seems to be the old website with blue theme, which you’re not redirected to if you start from their homepage.

Moreover, their homepage itself now clearly tells 0 AMC, so I think that is what should be considered on face value, atleast for new accounts opened. I’ve an old upstox demat account on which I think they’re still taking 75 per quarter.

Which one? The “0.01% or ₹20 per order” basic brokerage plan one?

Deal Cadet Deal Cadet
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bikidas2060 wrote:

only Zerodha, IIFL etc automatically detect if the account is a BSDA or not. Otherwise, brokers like HDFC sec, ICICI Direct etc have separate form to be filled in.

Dhan n Fyer’s give free demat accounts without any conditions

Bhai, can a person have an IDFC-Zerodha 3-in-1 BSDA account?

Based on information available on their website, it seems that any Individual a/c that meets the criteria for BSDA should not get charged and one doesn’t have to explicitly opt-in to get that waiver.
So, this 3-in-1 a/c should be no different either. Right?

Also, if someone opens a BSDA account with them, do they have to keep some money in an account designated by them or something like that?

Deal Cadet Deal Cadet
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DimeDime wrote:

Bhai, can a person have an IDFC-Zerodha 3-in-1 BSDA account?

Based on information available on their website, it seems that any Individual a/c that meets the criteria for BSDA should not get charged and one doesn’t have to explicitly opt-in to get that waiver.
So, this 3-in-1 a/c should be no different either. Right?

Also, if someone opens a BSDA account with them, do they have to keep some money in an account designated by them or something like that?

what is bsda? can someone explain?

Hunk Hunk
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DimeDime wrote:

Bhai, can a person have an IDFC-Zerodha 3-in-1 BSDA account?

Based on information available on their website, it seems that any Individual a/c that meets the criteria for BSDA should not get charged and one doesn’t have to explicitly opt-in to get that waiver.
So, this 3-in-1 a/c should be no different either. Right?

Also, if someone opens a BSDA account with them, do they have to keep some money in an account designated by them or something like that?

Conditions

  • You don’t have any demat account.
  • Value of shares held in your existing demat account ( Zerodha) is either less that 50k in case you want 0 AMC or less than 2lakhs, AMC becomes 100/year.

If you meet the above conditions then yes your 3-in-1 account is considered to be a BSDA one. Zerodha does it automatically. It’s a smart broker. 🙂 

Hunk Hunk
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DimeDime wrote:

Which one? The “0.01% or ₹20 per order” basic brokerage plan one?

yes… 20 per order

Deal Cadet Deal Cadet
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bikidas2060 wrote:

Conditions

  • You don’t have any demat account.
  • Value of shares held in your existing demat account ( Zerodha) is either less that 50k in case you want 0 AMC or less than 2lakhs, AMC becomes 100/year.

If you meet the above conditions then yes your 3-in-1 account is considered to be a BSDA one. Zerodha does it automatically. It’s a smart broker. 🙂 


Also, if someone opens a BSDA account with them, do they have to keep some money in an account designated by them or something like that?


What about this?
I read in a thread that some money needs to be deposited into the trading account to keep it active, but Zerodha credits it back to the linked-bank account at the end of every quarter.

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