InvestorQ : I have an existing demat account. Can that be converted into a BSDA account to reduce my annual costs?
Mahima Roy made post

I have an existing demat account. Can that be converted into a BSDA account to reduce my annual costs?

Answer
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2 years ago


If you fulfill the required holding criteria then you can definitely convert your current demat account into BSDA? If you hold an active demat account with a DP, you can ask the DP to convert your demat account into BSDA on the date of the next billing cycle based on the value of holding of securities in the account as on the last day of the previous billing cycle.
Thus, BSDA will offer limited services and reduced costs compared to conventional demat accounts and can be held by only single account holders. These accounts are expected to make investing in stocks, IPOs, bonds and gold ETFs easier. There are limits specified and you need to adhere to these limits failing which you will be billed the normal charges.