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Incorporated in 1994, Aditya Birla Money Financial Services is a Chennai based company engaged in stock broking, Mutual Funds, PMS and depository services. Aditya Birla Money is a part of the Aditya Birla group and primarily into the broking business. It offers stock and currency trading services at BSE and NSE. The commodity trading services are offered by its subsidiary company Aditya Birla Commodities Broking Limited.
ABM offers trading services through multiple channels- online, offline via branches & franchisee offices and through call & trade facility. The customers can choose any trading mode as per their convenience. All the facilities are offered free of cost by the company.
ABM is also a registered depository participant with National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL). The NSDL and CDSL membership, allows Aditya Birla Money to offer the Demat Account opening and its related services to its customers.
Aditya Birla Money offers a 2-in-1 account (demat and trading account) to its customers. The 2-in-1 account is linked together facilitating easy and fast transactions between the two accounts.
Depository Services (Demat Account) is one of the key offerings of the company. Every trader who wants to trade in securities in an exchange needs a Demat account wherein all the securities bought are electronically stored. The account can be used to store many types of securities like stocks, mutual funds, IPOs and Bonds etc. It works like a bank account wherein shares are credited on buying and debited on selling.
A customer can open a Demat account for himself or for his entire family through a Joint Demat account. HUFs, Associations, Companies and Partnership firms too can open a Demat account to meet their trading needs.
Aditya Birla Money (ABM) Demat Account
Aditya Birla Money is the depository participant (DP) of CDSL and NSDL. The two depositories open and manage the accounts. Please note that you actually open the demat account with these two depositories through Aditya Birla Money. ABM or any other broker is only their members and play the role of an intermediary between the depository and the customer. Both DP and ABM charge fees for each Demat transaction. ABM may also charge annual maintenance fees for its services.
Aditya Birla Money Securities DP Membership Info:
To open a new demat account with Aditya Birla Money, the customer has to pay demat account opening charges. Brokers also charge an Annual Maintenance Charges (AMC), a yearly fee to maintain the demat account.
| Service | Charges |
|---|---|
| Demat Account Opening Fee | Nil |
| Demat Account Annual Charges (AMC) | ₹436 |
| For Resident Retail Customers and Corporates | |
|---|---|
| Particulars | Charges |
| Account Opening | Nil |
| Account Freezing | Nil |
| AMC | ₹555 for 5 years |
| Advance AMC (1 year) | ₹300 |
| Advance AMC (2 year) | ₹550 |
| Advance AMC (3 year) | ₹750 |
| Transaction Fee (for debit to client account) | ₹22.50 per instruction |
| Transaction Fee (for debit to client account) | ₹22.50 per instruction |
| Demat Charges (Market & off Market) | ₹5.60 per certificate + ₹40 courier charges |
| Remat Charges | ₹11.20 per certificate + ₹40 courier charges |
| Pledge invocation / Closure / Confirmation | ₹16.50 Per ISIN |
| Courier charges | ₹10 |
| Interest on outstanding | 18% per annum |
| Stationery Charges | ₹25 |
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-
| EQUITY | ||
|---|---|---|
| Description | % | Levied on |
| GST | 18.00% | on Brokerage & Tran. Char |
| STT -Delivery | 0.10% | Nil |
| STT-Speculation | 0.0250% | On Sell side |
| STT-Futures | 0.01% | On Sell side |
| STT-Option | 0.05% | On Sell side |
| SEBI fee | 0.00015% | on volume |
| Clearing charges | ₹0.01 | per trade (only for BSE) |
| COMMODITY | ||
|---|---|---|
| Description | % | Levied on |
| GST | 18.00% | on Brokerage |
| CTT -Delivery | 0.010% | Selling side for Non-Agri products |
| Stamp Duty | 0.001% | on volume |
| RMS FEE | 0.004% | only for NCDEX |
| SEBI FEE | 0.0002% | on volume |
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.
A Demat account is compulsory if you want to trade in stocks or apply for IPOs in India. It offers multiple benefits like-
Yes, ABM offers 2-in-1 account wherein you have to open both demat and trading account.
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.
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.
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.
Yes, you can open a joint demat account. The account can have a maximum of 3 holders, one main and two joint holders.
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-
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-
Please note-
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Information on this page was last updated on Thursday, March 7, 2019
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