Hello
I wish to get some doubts cleared before I open an Upstox account in future.
I saw that Upstox provides a free demat account (for new customers) with zero AMC (annual maintenance charges) for the demat account.
But Chittorgarh.com shows that Rs 150 + GST is charged as the trading account annual maintenance charges fees.
Is this true?
Is the annual AMC = 0 or annual AMC = Rs 150?
on Upstox website it says:
“The account opening is free for the first year. For the second year, the customer will be charged INR 300.”
Link: Free Demat Account with NO Annual Charges – Lifetime AMC Free Demat Account
Here also it says : INR 0 annual AMC charges for the first year
Can you clarify if Upstox is actually a lifetime free demat account (i.e. 0 Annual Maintenance Charges) ?
OR
if Upstox AMC is Rs 300 from second year onwards?
Anybody who has opened an Upstox account after Aug 2021, could you kindly advise.
I asked their customer support, they don’t give proper answers and are very slow in replying…
I have checked their pricing page and it seems that they don’t charge for the lifetime. However, I would recommend you to call them.
Mind you unlike Zerodha and Fyers they charge brokerage on delivery too. So if you’re an investor Upstox might be costly.
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Thanks for clarifying!
On their pricing page, it seems that are being deliberately ambiguous and unclear. In one place on Upstox website it says:
“The account opening is free for the first year. For the second year, the customer will be charged INR 300.”
Link: [Free Demat Account with NO Annual Charges – Lifetime AMC Free Demat Account ]
(Free Demat Account with NO Annual Charges – Lifetime AMC Free Demat Account)
however elsewhere I see that that Upstox demat is actually a lifetime free demat account for those who opened accounts after Aug 2021. That’s why the confusion arose.
Upstox is lifetime AMC free if you open now. But they charge equity delivery
As per SEBI, a demat account with less than 2 lakhs in holding is considered under BSDA (basic services demat account) in which AMC is waived off (partially or fully). Zerodha does it automatically while Upstox required me a physical form (when I was a customer). Find more here
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Cool thanks! But this creates confusion… is Upstox lifetime zero AMC only if my holdings are within Rs 2 lakh limit or is it lifetime free AMC for everyone who opened Upstox accounts after Aug 2021?