To promote wider participation in the stock markets and facilitate ease of investing, SEBI introduced the Basic Services Demat Account (BSDA) in 2012. This initiative aims to provide cost-effective services to eligible investors.
As per the latest SEBI circular (SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/91), effective 1st September 2024, Demat accounts will automatically qualify for BSDA if the following conditions are met:
Eligibility Criteria:
Only one Demat account is registered where the holder is the sole or first account holder.
Only one BSDA is permitted per individual across all depositories.
The total value of securities in the account, including debt and non-debt securities, does not exceed ₹10 lakhs at any point in time.
Key Updates:
Eligible Demat accounts will automatically be converted to BSDA unless the account holder provides consent to retain a regular Demat account.
At FYERS, there are no Annual Maintenance Charges (AMC), ensuring a seamless experience regardless of BSDA classification.
BSDA AMC Charges as Per SEBI Guidelines:
Holdings up to ₹4 lakhs: No AMC.
Holdings between ₹4 lakhs and ₹10 lakhs: AMC of ₹100 per annum.
Holdings above ₹10 lakhs: BSDA classification is not applicable.
If the total value of holdings exceeds ₹10 lakhs, the account will no longer qualify as a BSDA. For voluntary opt-out requests or further assistance, please drop an email from your registered email ID to [email protected].
For more information, please refer to SEBI's circular.
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