BASIC SERVICES DEMAT ACCOUNT (BSDA) SERVICES
In terms of the directive of SEBI, existing SBI demat account holders shall be eligible to opt for BSDA subject to the following conditions:
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 Two Lakhs at any point of time.
5. All BOs opting for the facility of BSDA, shall register their mobile number for availing the SMS alert facility for debit transactions.
The charge structure shall be on a slab basis as under:-
a. No Annual Maintenance Charges (AMC) shall be levied, if the value of holding is up to Rs. 50,000.
b. For the value of holding from Rs 50,001 to Rs 200,000, AMC of Rs 100 shall be charged.
c. If the value of holding in such BSDA exceeds the prescribed criteria at any date, we shall levy AMC as applicable to regular accounts (non- BSDA) from that date onwards, which is Rs. 400/- per annum (Rs 350/-, If the account statement is to be sent by email).
We enclose the form for converting a regular Demat account into Basic Services Demat Account (BSDA), subject to fulfillment of the above conditions. In case you intend to convert your existing Demat account into BSDA, you may please fill up the form and submit the same at your Demat Service Branch for onward submission to DPCPC.
You may please note that the provision of BSDA is effective from 01 October 2012. The outstanding service charges on the account, if any, is payable immediately for availing the BSDA. It may also be noted that your Demat account shall continue to attract AMC charges for regular Non-BSDA account till your application for converting the Demat account into BSDA in the enclosed form is received by us.
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Forms for conversion to BSDA Account