InvestorQ : Do I have to open a BSDA account or does a normal account get converted.
Swati Naik made post

Do I have to open a BSDA account or does a normal account get converted.

Answer
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Moii Chavate answered.
2 years ago


Don’t worry, both the options are possible. Say you want to open a demat account, you can open BSDA account directly. But, what if you have a regular demat account; what do you do then. Relax, you can still convert this into a BSDA account. But, yes, the restriction of Rs.2 lakh will apply and you cannot have any further BSDA accounts. SEBI regulations only permit to have 1 BSDA account per individual based on your PAN number. The form below can be used to open a new BSDA account. Read the terms and conditions and understand the limitations of a BSDA account before signing up to the form. If you don’t meet the limits, then your account will be automatically converted into Regular account.
It is also possible to convert your regular demat account into BSDA account. You can use the form below for the same. This is for existing regular accounts that want to reduce their cost of demat, subject to portfolio value considerations.