There is a range of stockbrokers in India, of all kinds. HDFC Securities comes from a cohort of bank-based full-service stockbrokers. Now when you open a demat account with them, you will be charged certain HDFC demat account charges and demat account opening charges being one of them. Having said that, let us now look at HDFC Securities account opening charges.
To simplify things for you, we will break down all the details for you in a quick and short review.
Obviously, these different kinds of demat accounts have different propositions and prices. Here are the details:
HDFC Securities Account Opening Charges
Now, you would find it surprising that only the Classic customer type needs to pay for the demat account opening charges while the rest get it for free. Yes, there are no HDFC Securities Account Opening Charges.
Well, there is a reason for that.
In comparison to plans such as Preferred or Imperia, Classic customers end up maintaining way lesser transactional balance. Thus, a beginner investor or trader with limited capital goes through the HDFC Securities Account opening process with this particular plan.
Here are the different requirements for a Classic Account customer:
Maintain the minimum balance in the savings account of ₹1 lakh.
OR Maintain the average quarterly balance of ₹2 lakh in the current account.
OR Maintain the average monthly combination of ₹5 lakh in savings, currency account, and FDs.
If the customer fulfils either of these 3 conditions, there are no concerns.
While we talk about all sorts of charges in terms of account opening, we need to also understand the reasons why shall you ahead with the HDFC Securities Sign up in the first place. Well, there are a few reasons such as:
It offers a 3-in-1 Demat account with a combination of Trading and bank accounts
It allows you to invest across Equity, Currency, Derivatives, Insurance, Fixed Deposits, Bonds and more
Easy to use mobile and web trading applications such as HDFC Securities
Dedicated Relationship manager with quick service and support
You can check out the complete HDFC securities review to know the complete details for yourself. Hopefully, we were able to help you with your query on HDFC Securities Account Opening Charges.
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