Aditya Birla Money Demat Account Charges, Review, Opening

Aditya Birla Money Demat Account Opening Charges

To open a new demat account with Aditya Birla Money, the customer may have to pay demat account opening charges. The broker may also charge Annual Maintenance Charges (AMC), a yearly fee to maintain the demat account.

Aditya Birla Money Depository Service Charges for Resident Retail Customers

Aditya Birla Turnover and other Charges 2019

In addition to brokerage and transaction charges, there are many other taxes and charges levied on a trade. The various taxes and charges for equity and commodities for Aditya Birla Money are as follows-

Aditya Birla Money DP Charges for Commodity

1. 1. What is a Aditya Birla Money Demat Account?

   A demat account is like a bank account that is used to keep digitally store shares, mutual funds, bonds and other such securities. The accounts are managed by CDSL and NSDL, two government-approved depositories in India. All the broking companies offering depository services are required to be members of any of the depositories.

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2. 2. What are the benefits of Aditya Birla Money Demat account?

   A Demat account is compulsory if you want to trade in stocks or apply for IPOs in India. It offers multiple benefits like-

   1. Easy and fast trading
   2. Reduces the risk of loss/theft/damage of securities
   3. Quick transfer of shares
   4. Allows to buy and sell as low as 1 share
   5. Single account to hold multiple types of securities
   6. Facility to nominate

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3. 3. Is it mandatory to open a demat account along with a trading account with Aditya Birla Money?

   Yes, ABM offers 2-in-1 account wherein you have to open both demat and trading account.

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4. 4. Why do I have to give my bank account while opening a demat account with Aditya Birla Money?

   Every Demat account is linked with a bank account. Securities earn bonus, interest etc., which is credited to the bank account linked with the Demat account of the holder. You can change the linked bank account anytime as per your convenience.

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5. 5. Who can open a demat account with Aditya Birla Money?

   All individual residents, adult or minor, can open a Demat account with ABM. Also, partnership firms, businesses, HUFs and associations can also open a Demat account with the company.

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6. 6. Can a minor open a Demat Account with Aditya Birla Money?

   Yes, a minor can open a demat account with the company. A minor account requires a legal guardian to be appointed and his/her documents need to be provided for account opening. The legal guardian will have the rights to manage the account until the minor becomes an adult.

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7. 7. Can I open a joint demat account with Aditya Birla Money?

   Yes, you can open a joint demat account. The account can have a maximum of 3 holders, one main and two joint holders.

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8. 8. How do I change my personal information in the Aditya Birla Money demat account?

   You can change personal details like address, phone number etc., online or by calling the customer care of the company. You may be asked to provide documents for address change. For other specific changes like change in branch or to activate trading in segments, you need to-

   1. Visit the company website, click on the 'Downloads and FAQs' tab at the top menu. Again click on the 'Downloads'. Now click on the 'Change Request' Tab and download the appropriate form.
   2. Print, fill, sign and attach supporting documents
   3. Send it to the company address or submit it in the branch office

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9. 9. What is nomination and how to nominate someone to my Aditya Birla Money demat account?

   The nomination is done to appoint a nominee to who the securities held in the Demat account will be transferred in case of death of the account holder. The facility is available only for individual and Demat accounts. In absence of a nominee, your legal heir has to establish himself as the rightful heir before the court to get ownership of the securities.

   To nominate someone, your wife or kids, to the Demat account, you need to-

   1. Visit the company website, click on the 'Downloads and FAQs' tab at the top menu. Again click on the 'Downloads'. Now click on the 'Change Request' Tab and download the 'NSDL NOMINATION FORM FORMAT' or 'CDSL NOMINATION FORM FORMAT' as per your DP.
   2. Print, fill, sign and attach supporting documents. For joint accounts, all account holders must sign on the nomination form.
   3. Send it to the company address or submit it in the branch office

   Please note-

   • You can nominate up to 3 nominees and allocate the percentage of ownership between them.
   • You can also nominate a minor as a nominee.
   • For joint accounts, the ownership of securities is first transferred to surviving account holders and in case all are dead the to the nominee.

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