Question 1

If the Demat a/c value exceeds Rs. 10,00,000 will there be intimation from Axis Securities Ltd for removal of BSDA facility?

Accepted Answer

Currently there is no provision to send an intimation to the customer if their accounts lose the BSDA facility, however, the conditions for an account to be BSDA are as follows:

1) All the individuals who have or propose to have only one demat account where they are the sole or first holder.

2) Individuals having any other demat account/s where they are not the first holder shall be eligible for BSDA in respect of the single demat account where they are sole or first holder.

3) The individual shall have only one BSDA in his/her name across all depositories.

4) Value of securities held in the demat account shall not exceed Rupees Ten Lakhs at any point of time.

If any of the above conditions are not met you lose BSDA facility and your account is treated as a Normal account wherein the DPcharges would be charged to your account as a normal retail account:

Click Here to view the Schedule of Charges of a retail account.

Question 2

If eligible how to apply for BSDA facility?

Accepted Answer

To convert your account to BSDA, please follow any one of the processes listed below:

Online Process Offline Process
Click Here

To know the steps on how to update BSDA online on your account

BSDA - CDSL: Click Here to download the BSDA Form.
BSDA - NSDL: Click Here to download the BSDA Form.Submit the duly filled form to the nearest Axis Bank branch.

Mailing Address:

Axis Securities Ltd.

Unit No. 1001, 10th Floor, Level – 6,

Plot No. 4/TTC, Q2 Building,

Aurum Q Parc,

Thane Belapur Road,

Ghansoli, Navi Mumbai-400710

Question 3

What is eligibility Criteria for BSDA defined by SEBI?

Accepted Answer

Basic Service Demat Account (BSDA) is a regular demat account with No or Low Annual Maintenance Charges based on the guidelines laid by SEBI.

Circular Number:SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/91 dated June 28, 2024.

If your account fulfills the following criteria, you can request to convert your account to a BSDA account :

1) All the individuals who have or propose to have only one demat account where they are the sole or first holder.

2) Individuals having any other demat account/s where they are not the first holder shall be eligible for BSDA in respect of the single demat account where they are sole or first holder.

3) The individual shall have only one BSDA in his/her name across all depositories.

4) Value of securities held in the demat account shall not exceed Rupees Ten Lakhs at any point of time.

Charges Slab

The charge structure may be on a slab basis as indicated below:

1. No Annual Maintenance Charges (AMC) shall be levied, if the value of holding is upto Rs. 400,000.

2. For the value of holding more than Rs 400,000 to upto Rs 10,00,000, AMC not exceeding Rs 100 may be charged.

No Annual fee will be charged if your account has securities worth Rs. 400,000 or lower.

Need help? You are in the right place