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What is a Basic Services Demat Account (BSDA)?

The Basic Services Demat Account (BSDA) was introduced by SEBI in 2012 to encourage retail participation in the stock markets. As per SEBI's circular (WEB), starting 1st September 2024, your demat account will automatically be categorized as a BSDA if the following conditions are met:

  • You have only 1 demat account registered with your PAN across all brokers. You can find out how many demat accounts you have by downloading the Consolidated Account Statement (CAS).
  • The value of your holdings in the demat account is less than ₹10,00,000.

    • Account Maintenance Charges (AMC) for BSDA

    The Account Maintenance Charge (AMC) for BSDA is charged based on the value of your holdings. The table below compares the maximum value of holdings under the old and new BSDA guidelines:

    AMC is charged quarterly, i.e., every 91 days starting from your account opening date, and is deducted from your Quantxs account. These charges are reflected in your funds statement.

    Example scenarios

    AMC calculation from 1st September 2024:

  • Your Quantxs account was opened on September 5, 2024. The highest value of your holdings for the first quarter (ending January 5) was ₹4,50,000. The AMC charged for the first quarter would be ₹25 as per slab 2 and will be due on December 5.
  • The highest value of your holdings for the 2nd quarter was ₹12,50,000. The AMC charged for the quarter would be ₹75 as per slab 3.
  • The highest value of your holdings for the 3rd quarter was ₹7,00,000. As per slab 2, the AMC charged for the quarter would be ₹25.
  • Your account will not qualify as BSDA if your holding value exceeds ₹10,00,000.
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