In the stock market, bank-based stockbrokers are the oldest member offering brokerage services for years. Hence when it comes to choosing the right stockbroker, bank-based stockbrokers like HDFC Securities are the most reliable. But when thinking of trading, it becomes important to look for the HDFC Demat Account Charges.
So, let’s delve in and know the fees the broker charged to start trading with them.
Demat Account Charges in HDFC
Opening a demat account involves some fees and charges. This includes the account opening fees and the AMC charges.
- HDFC Securities Account Opening Charges
- HDFC Securities AMC Charges
Since HDFC Securities is a full-service stockbroker, the fees are comparatively higher than other top stockbrokers in India.
But with the growing competition in the market, the broker comes with some plans and offers, thus providing relaxation to customers from paying hefty fees.
So, let’s begin with the basic charges imposed by the broker for account opening and other related fees.
HDFC Demat Account Opening Charges
The Demat account opening charges define the fee that is to be paid to the broker for opening an account with it.
If you are interested in opening an HDFC Demat account, then it is important to note that the broker does not charge any fees for opening an account.
So, even the broker follows the full-service brokerage model; you can reap the benefit of Zero account opening fees.
HDFC Demat Account Annual Charges
Apart from the account opening fees, the other charges that are to be paid by the trader or investor are AMC, i.e., Account Maintenance Charges.
The broker imposes the AMC fees of ₹750+ GST that is to be paid in advance every year.
To get the AMC information in brief, refer to the following table:
If you want to reduce these charges, then the broker comes with an offer. Here, if you have a savings account with the HDFC bank, then HDFC Securities charges the AMC depending on the minimum balance you maintain in your account.
To know more about it in detail, refer to the following segments.
HDFC Demat Account Charges For Classic Customer
The HDFC Securities allows the Classic Customers to take advantage of the charges. If you are thinking of the criteria to become a Classic Customer of HDFC Securities, refer to the following conditions.
- Maintain the minimum balance in the savings account of ₹1 lakh.
- Maintain the average quarterly balance of ₹2 lakh in the current account.
- Maintain the average monthly combination of ₹5 lakh in savings, currency account, and FDs.
Furthermore, there are the Classic customers that pay out the various amounts for the Demat account. To know about those fees, consider the following table:
The above table shows the account opening fees by HDFC Securities for the Classic Customers and how the AMC varies according to the Standard Plan and the value maintained.
HDFC Demat Account Charges For Preferred Customer
The broker allows the traders or investors to open an HDFC Demat account according to their preferences.
The various services and charges will be offered to the Preferred Customer of HDFC Securities. The criteria for becoming a preferred Customer are as follows.
- Maintaining a minimum balance in a savings account of ₹2 lakh.
- Maintaining average quarterly balance in the current account of ₹5 lakh.
- Maintaining the average monthly combination balance of ₹15 lakh in saving, currency account, and FDs.
If the trader opens an account and becomes the preferred customer, he can get few special benefits from the standard Demat holder.
Now, let’s check what are the charges that had to be paid by the traders as a preferred customer:
HDFC Imperia Demat Charges
Imperia is made for the customer who wants to pay higher to grab more features and allows premium banking.
To understand the eligibility criteria for the Imperia Customer, check the following conditions:
- Maintaining the minimum average balance in the savings account of ₹10 lakh.
- Maintaining ₹average quarterly balance of ₹15 lakh in the current account.
- Maintaining the average monthly combination of ₹30 lakh in saving, current account, and FDs.
Let’s check what are the fees that are to be paid by the investor to get the ownership of the HDFC Demat account with Imperia membership. For that, refer to the following table:
So you can reap the benefit of HDFC Free Demat Account and have enough funds then going with Imperia Demat account with the broker can give you benefits.
It is important to check the Demat account charges in detail of HDFC Securities before starting trading with it.
To make the charges more understandable, the above tables will help in getting the overview of the fees in detail according to different types of membership chosen by the investor.
As said, the first step is to check charges, compare and open a Demat account: