Alice Blue Demat Account Charges, Review, Opening

Alice Blue Demat Account Opening Charges

To open a new demat account with Alice Blue, 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.

Alice Blue Demat Charges

1. 1. What is a Demat Account with Alice Blue?

   Similar to a bank account, a demat account is to keep shares, mutual funds, bonds, NCD's and other such securities in electronic form. 

   CDSL and NSDL are two government-approved depository service providers in India. The brokers are members (also known as depository participants or DP) of these two depositories.

   Demat account offers easy and convenient trading and investments in the stock market. It also reduces the risk of losing paper share certificates. The transfer of shares between your trading account and the demat account is electronic and fast.

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2. 2. What is Lifetime FREE AMC Demat Account with Alice Blue?

   Alice blue charges ₹400 per year AMC for the demat account. They have stopped offering Lifetime FREE AMC Demat Account from April 2020.

   Depository Participants like Alice Blue charge Annual Maintenance Charges (AMC) from the customer to service the demat account. This is charged irrespective to you do any transaction or not. AMC is a fixed yearly fee customer has to pay to keep the demat account active. This Demat AMC ranges from ₹300 a year to ₹1200 a year based on the DP service provider.

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3. 3. Is it mandatory to open a demat account along with a trading account with Alice Blue?

   No. For traders who are planning to trade only in F&O (Equity, Commodity or Currency), the demat account is not required.

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4. 4. Why my bank account is linked to my demat account in Alice Blue?

   The linked banked account is used to directly deposit dividends in the bank account. It is mandatory to provide your bank account information at the time of demat account opening.

   Note that the demat account can only hold securities (shares). It cannot hold money. The dividend is paid in the money which is deposited into the linked bank account.

   The customer can change the bank account linked to the demat account anytime by submitting a request.

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5. 5. Who can open a demat account with Alice Blue?

   An Individual (adult or minor), Corporate, Partnership Firm, Trust, HUF, Unincorporated Association or a Body of Individuals, Banks/Institutional Investors, Foreign Institutional Investors (FII), Army/Government Bodies and Registered Society.

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6. 6. Can I open Minor Demat Account with Alice Blue?

   Yes, you could open a minor demat account. In the case of a Minor Account (Demat or Trading Account), the legal guardian (either of the parents) has to be appointed. The documentation of the guardian has to be provided at the time of account opening.

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7. 7. Can I open a joint demat account with Alice Blue?

   Yes, you can open joint demat account with Alice Blue. A joint demat account can be opened with 2 or 3 joint holders.

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8. 8. How do I change my personal information in Alice Blue demat account?

   Simply submit a written request of the change to Alice Blue. Attach the proof of changes with the request. For example, in the case of the change in address, provide address proof.

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9. 9. How does nomination work on my Alice Blue demat account?

   The nomination works in the same way as the nomination in a bank account. Here are key points:

   • Nomination facility is available to individual demat accounts only. This facility is not available to non-individual accounts i.e. corporate, partnership firm etc.
   • The nomination is available in joint demat accounts also. In case of the death of one holder, the ownership is transferred to the surviving partner. When all holders are dead, it is transferred to the nominee in the account.
   • Only individuals can be the nominee.
   • A minor cannot be a nominee.
   • Only one nominee is allowed per demat account.

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10. 10. How do I nominate my wife in my Alice Blue demat account?

    You could make your wife nominee at the time of account opening or at any later point of time. The nomination process is simple. Here are the steps to make nominee:

    1. Download, print and fill the demat account nomination form.
    2. Sign the nomination form.
    3. Fill nominee information (name, contact info etc.) and get signature from her.
    4. Send the form to Alice Blue office.

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