Demat Charges

POSTED BY BHAVANA ON January 23, 2012 10:27 am COMMENTS (3)

I have a demat account and trading account in Hdfc Bank.

I think they are charging more on each transaction.

Also they charge some monthly depositorycharges.

Can i stop trading through hdfc bank and trade through some other company who charges less than hdfc bank.

where can i get comparison of all the charges of different bank/company including the hidden charges so that i have to spend low charges on trading.

3 replies on this article “Demat Charges”

  1. Customer Assistance, HDFC Bank says:

    Dear Customer,

    We’d like to check the details of the charges on your account so that we can clarify from our end. We request you to write to talktous@hdfcbank.com with your account and contact details and the reference number TTU000414024012012. We will have a representative get in touch with you.

    Regards, Customer Assistance, HDFC Bank

  2. Dear Bhavana, From your query, it seems that you are a frequent trader for your demat account. In this case You should have your demat account with non banking brokers like Sharekhan, Indiainfoline, Indiabulls, Angel, Religare……………….

    Thanks

    Ashal

  3. Yogesh K says:

    Hi Bhavana,

    I experienced same with HDFC and hence I closed the account ~1 year back.
    I have observed that for any company whose main business in other than trading the charges are high. (eg ICICI & HDFC bank brokerage rates are high)

    Now I am using india infoline. When I opened account with India infoline, one time account opening charges were Rs. 750 and no annual maintenace charges later. Depending on your transactions you can negotiate and get deal with less brokerage rates.

    You can also think of opening DEMAT account in Sherkhan.

    Points to be noted while opening new account
    Use option close and transfer (rather than transfer) option when you want to move your shares from one DEMAT to other DEMAT account. Generally there are charges if you only transfer shares, but if you close & transfer shares its free.
    If you have Mutual finds or infrastructure funds taken and linked to your demat account then my experience says that transferring them to new account is not very easy.

    – Yogesh

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