AMC charges or account maintenance charges are levied by the stockbrokers for the maintenance of your account. Similar is the case with Choice Broking. If you want to begin your stock market investments with the broker, you should also know about Choice Broking AMC charges.
Choice Broking being a full-service broker still comes up with a comparatively low brokerage and free account opening. It certainly has some AMC charges as well and we will talk about the same in this article.
Often referred to as AMC charges, these are levied by the stockbroker for the maintenance of your demat account. The AMC charges are usually fixed and are deducted irrespective of the fact whether you are trading or not. Even if you don’t have any securities in your demat account, you will still have to pay demat account annual charges.
The Choice Broking AMC charges differ according to the plan that you opt for. You will be charged AMC on the Choice Broking account from the second year onwards.
As per the plan there are no account maintenance charges for the first year. From the second year onwards, there are three plans for Choice Broking. The basic or the yearly plan levies ₹200+GST. There is a lifetime AMC plan as well. The charges for the same are ₹1500+GST.
There is also a zero AMC plan. For this, you pay ₹3000+GST, but the catch here is that the amount will be refunded once you decide to close your account.
Choice Broking AMC Charges
Second Year Onwards
₹200+GST (yearly plan)
₹3000+GST (Refundable,this AMC is refunded to the trader once he/she decides to close their account)
So, you can choose a plan based on your convenience and needs. If you don’t opt for any plan, then you will be charged ₹200+GST,i.e, the basic plan.
AMC charges are levied by almost every stockbroker. The best part of Choice Broking AMC charges is that it is free for the first year. Even from the second year onwards, it gives you the option to choose from various plans that waive off the Account maintenance charges.
Along with this, you can reap the additional benefit with the broker with Choice Broking refer and earn where the broker provides a referral reward both to you and a person you refers for demat account opening.
Get the free stockbroker suggestion and open a demat account online without any hassle!