InvestorQ : Is the BSDA an absolutely no cost account or are there any hidden costs in the account?
vaishnavi mhatre made post

Is the BSDA an absolutely no cost account or are there any hidden costs in the account?

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Maniish Lofar answered.
3 years ago
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In terms of services, the BSDA account holder will be entitled to get the transaction statement and holding statement by email. However, physical statement requests may be charged by the DP. Irrespective of the assets under custody, SEBI has now made it mandatory for the DP to send out an SMS alert when the demat account is debited for ensuring investor security.
Remember, no transaction statement or holding statement will be provided by the DP to the BSDA account holder in case there are not transactions in a quarter or if the DP holding balance is zero. Also if your balance goes above the stipulated limit of Rs.50,000 in the first phase and Rs.2 lakh in the second phase, then normal demat charges will automatically start to apply. Other costs like debit to your demat account and penalty for rejection of DIS slip or DRF will be charged like a normal demat account.
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