What is a Basic Service Demat Account (BSDA) and how can one be opened at 5paisa?

What is a Basic Service Demat Account (BSDA) and how can one be opened at 5paisa?

Basic Service Demat Account (BSDA) is a Demat account which can be opened by any individual. It provides limited services at reduced costs to retail investors.

The Annual Maintenance Charge structure will be based on value holdings in the accounts or as per the number of accounts the user holds with multiple depositories.

It will be charged as per below mentioned conditions:

The value of securities in the Demat Account shall not exceed ₹2 lakhs at any point of time. If the value of holding in BSDA exceeds ₹2,00,000, the user will automatically be moved to Full Service Demat Account (FSDA) where the broker may levy charges as applicable to regular account holders i.e. ₹25 + 18% GST from that time onwards.

But, if the user holds A/c for more than 1 depository, irrespective of the holdings the user will be charged flat ₹25 per month + 18% GST. For more understanding, please refer the table below-

Slab

Highest Holding Value

AMC (exclusive of GST)

1

Up to ₹50,000

No AMC

2

₹50,001 to ₹2,00,000

₹8 per Month

3

Above ₹2,00,000

₹25 per Month


Example:

A 5paisa account was opened on the 12th of January, 2023. The highest value of the holdings for the 1st month (ending 12th Feb) was ₹1,50,000. The AMC charged for the 1st month would be ₹8 as per slab 2 and will be due on the 12th of Feb.

The highest value of the holdings for the 2nd month was ₹2,50,000. The AMC charged for the quarter would be ₹25 as per slab 3 and BSDA flag removed.