Who can open a Basic Service Demat Account?

Who can open a Basic Service Demat Account?

  1. The basic services demat account promises to provide limited services at reduced costs to retail investors. These accounts are also called no-frills or basic demat accounts.
  2. An individual—who currently has a demat account or plans to open a demat account where he is the only first / sole holder—will be allowed to open the BSDA.
  3. The individual needs to ensure that the value of securities held in his basic trading account will not be more than Rs. 2 lakh at any given point of time.
  4. According to SEBI circular, all depository participants (DPs) will make basic trading accounts available with limited services and reduced costs. DPs’ will offer BSDA from 1 October 2012. Remember that you are allowed to open only one BSDA across all DPs.

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