Axis Bank is the third-largest privately-owned bank and is a well-known name in India’s financial market. Axis bank offers investments and trading related services through its subsidiary, Axis Direct (or Axis Securities), which further provides Axis Demat Account.
If you open a Demat account with Axis Bank, you can easily invest in various trading and investment segments such as equity, derivatives, mutual funds, systematic investment plans (or SIPs), etc. through Axis Securities.
In this article, we shall be discussing various aspects related to Axis demat account.
Axis Demat Account Review
If you want to open a Demat account with Axis Bank, you must know what it is offering and what its features are. So, let us begin with a quick look at the major features of the Axis demat account.
1. Ease of Dematerialisation – One just needs to submit physical securities along with a request form for the dematerialization of securities.
2. Ease of Rematerialisation – One also has the facility of converting e securities into physical form.
3. Corporate Benefits – With the Axis demat account, one has the facility of receiving corporate benefits like dividends, interest, etc. directly in one’s account.
4. Pledging – One can pledge of shares in Axis demat account in order to obtain a kind of loan on one’s securities.
5. Facility of freezing account – One can freeze his / her Axis demat account for a certain specified amount of time period during which there can not be any debits from the account.
6. Call and Know – One has the facility to call and know all the details regarding one’s holdings in a demat account with Axis Bank simply through a phone.
7. Online Availability of Holdings and Statements of transactions – If you have a demat account with axis bank, you can quickly view your online account statement details at any time and from anywhere. One can get all the details through email as well.
8. Ease of Transfer of Shares and Money – There is a seamless flow of transfer of funds as well as shares in one’s Axis demat account.
9. Speed – e – Facility – Axis demat accounts offer this facility to its customers with the help of which they can give delivery instructions using the internet.
Brokerages charged by Axis Demat account for trading in penny stocks are 3 paise for every share. This brokerage will be subject to a minimum amount of ₹25for every order that has been executed on the stock exchange.
Whenever there is a transaction occurring on the stock exchange, there are many kinds of charges that the trader has to incur.
One of the types of charges are brokerages that are paid to the stockbroker through which the transaction has been done.
There are some other charges as well which will be discussed below-
Transaction Charges of National Stock Exchange:
They are 0.00325 for trades done in the equity segment on NSE. Here is a quick look at other charges levied once you have an Axis Demat account:
Transaction charges are 0.0019 for trading done in equity derivatives.
Stamp Duty – These charges are variable depending on the state where the account holder resides.
GST Charges – These charges are calculated by doing 18% of the sum of brokerages charged and transaction charges levied on a trade.
Depository Participant Charges – DP charges are levied on every transaction that involves the sale of shares from the demat account. They are around ₹22per scrip.
Securities Transaction Tax (STT):
STT is different for all the segments.
For delivery based trades – 0.1% on both the buy and sell sides
For intraday trades – 0.025% on sell-side only.
For futures (equity) – 0.01% on sell-side only
For options (equity) – 0.017% calculated on sell-side premium + 0.125% on settlement value in case of exercise of options
For futures (currency) – 0.0009% for orders executed on the National Stock Exchange, 0.00022% for orders executed on the Bombay Stock Exchange
For Options (currency) – 0.04% for orders executed on the National Stock Exchange
0.001% for orders executed on the Bombay Stock Exchange
Commodities transaction tax for trading in commodity futures – 0.01% on sell-side in non – agricultural segment
Commodities transaction tax for trading in commodity options – 0.05% on sell-side
All the details about different charges and brokerages can be calculated by brokerage calculators available on websites of different brokers.
Before entering any transaction, the brokerage calculator and margin calculator must be checked in order to know the exact brokerages and other charges as well as the margin requirements of any trade occurring in the Axis Demat account.
Axis Demat Account For NRI
If you reside outside India and hold an Indian PAN Card and are looking to invest or trade in the stock market – there is an option for you under Axis demat account for the NRI category.
You can choose to open a 3 in 1 Axis Demat Account, which comes with multiple benefits such as:
Access to multiple investment products such as Equity, IPO, Mutual funds, etc.
In case you are in a doubtful position regarding your trade, Axis Demat Account customer care number comes with quick customer support with a reasonable level of client satisfaction on the response quality front.
You can get in touch with the broker through the following channels:
NRI Customer Support
Axis Bank Demat account customer care number for the NRI’s is 022-61480809, and the Indian Residents can make a call at 022-40508080 or 022-61480808.
The broker can be trusted, from a competitive perspective, on the quality of its customer support.
Axis demat account can be opened easily with AxisDirect, which has some good features like easy demat and remat of securities, 3 – in – 1 account, which allows a seamless flow of transactions among the three accounts – bank account, trading, and demat accounts.
Other features include pledging of securities for obtaining extra margins in the trading account, the facility of freezing one’s account for a stipulated amount of time, etc.
The account opening process is quite simple and just needs some basic documents of a person.
The online process of a demat account with Axis bank will take just a few minutes to complete the formalities at one’s end.
The details of account opening and maintenance charges can be seen in this article.
One should know about one’s trading requirements and choose a brokerage plan offered by Axis Direct accordingly.
Trade@20 brokerage plan is an attractive plan offered by Axis, but not everyone cannot be eligible to be a part of it.
An average minimum balance of Rs. 75000 should be maintained on a quarterly basis for existing Axis customers. Non-Axis customers need to pay special charges for being able to trade under this plan.
The other brokerage plans have also been discussed in detail and are more expensive as compared to brokerage plans offered by discount brokers.
AxisDirect mobile app can also be used in order to trade and view holdings of the axis demat account.
Advantages of Axis demat account include ease in remat and demat of securities, facility of calling and knowing the balance of holdings in one’s Axis demat account, easy transfer of securities, and funds among the Axis demat account and bank savings and trading account.
Disadvantages of having a demat account with Axis Bank include higher brokerages except for the trade@20 plan and non-availability of this plan for currency and commodity trading.
One should look at various aspects of the Axis demat account before deciding to open it.
Charges, features, brokerage plans, advantages, and disadvantages are the things one should be aware of while thinking of considering a demat account with Axis Bank.
In case you are looking to get started with stock market investments, let us help you take the next steps ahead.
Axis Demat account can be opened quickly with us without paying any fees. Just click on the link, fill the form, and easily start your trading with Axis Bank.
Just fill in the form below to get started:
More on Axis Direct
If you wish to learn more about this stockbroker, here are a few references for you: