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Choice Broking Demat Account Charges, Review, Opening


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Choice Broking Demat Account Opening Charges

To open a new Demat account with Choice Broking, the customer may have to pay Demat account opening charges. The broker may also charges Annual Maintenance Charges (AMC), a yearly fee to maintain the Demat account.

ServiceCharges
Demat Account Opening FeeRs 0 (Free)
Demat Account Annual Charges (AMC)Rs 200 or as per plan. (1st year AMC free)

Choice Broking Demat Charges

Choice Broking trading and demat account opening charges are Rs 200. Choice Broking charges Rs 200 or as per plan. (1st year AMC free) demat account AMC. Choice Broking demat debit transaction charge of ₹10per transaction + GST per debit transaction.

ID Transaction Charges
1 Demat Account Opening Charges

Nil

2 Annual Maintenance Charges (AMC)

Choice Broking offers Standard and special plans to individual customers to opt for.

  1. Basic Standard Plan: ₹200
  2. Special Plan:
    1. Lifetime AMC Free Plan (One Time - Non-refundable) :₹1,500
    2. Lifetime AMC Free Plan (One Time - Refundable deposit) :₹,3000

Note:

  1. First year AMC is free.
  2. In case of no scheme chosen at the end of first year, default standard plan will be applied.
  3. In case of Corporates, AMC of ₹1,000 applied from first year.
3 Transaction Charges (Buy) [.]
4 Transaction Charges (Sell)

₹10per transaction + GST

5 Demat + Courier charges

₹25 per certificate

6 Remat

₹25 per 100 Securities or 0.04% whichever is higher

7 Pledge Creation

₹50 or 0.02% whichever is higher + GST

8 Pledge Creation Confirmation [.]
9 Pledge Invocation

₹100 or 0.05% whichever is higher + GST

10 Failed Transactions

₹10 per instruction + GST

11 Other Chareges

Additional request for every DIS Booklet: ₹100.

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Frequently Asked Questions

  1. 1. Is Choice Broking account NSDL or CDSL

    Choice Broking has a depository participant (DP) membership with CDSL and NSDL both. You can choose any of the DP while dealing with Choice Broking.

     Choice Broking DP Details

    DP SEBI Regn. No : IN-DP-84-2015

    CDSL-DP-ID : 12066900

    NSDL-DP-ID : IN301895

     

  2. 2. What is an AMC charge in Choice Broking?

    Choice Broking AMC charge is the annual maintenance charges for maintaining the Demat account with the broker. The first year AMC for individuals is free. 

    Choice Broking AMC Charges

    Choice has different AMC schemes for individuals and corporates as per below:

    For individuals  

    1. Basic Standard Plan: Rs 200 + GST
    2. Special Plan:
    1. Lifetime AMC Free Plan (One Time - Non-refundable): Rs 1,500 + GST
    2. Lifetime AMC Free Plan (One Time - Refundable): Rs 3,000 

    For corporates 

    1. Basic Standard Plan: Rs 1,000 + GST
    2. Special Plan:
    1. Lifetime AMC Free Plan (One Time - Non-refundable): Rs 55,0000 + GST (only for Escrow accounts) 

    You need to pay AMC irrespective of whether you use the Demat account or not.

     

  3. 3. Why do I have to sign a POA to open a Demat account with Choice Broking?

    Power of Attorney (POA) authorizes the broker to debit the shares from your Demat account whenever you sell the shares and transfer it to the Exchange to meet the pay-in obligation. If you do not sign and submit the POA, you are not able to see or sell the shares in your Demat account. 

    Earlier the POA was required to be couriered to the broker office on completion of the registration. However, with the introduction of Electronic Delivery Instruction Slip (eDIS), it is now not mandatory to submit a POA to Choice Broking. The eDIS enables the investors to sell their shares using TPIN by way of online authorization. 

    It is important to note that the eDIS facility is currently available only for CDSL Demat account holders. See the below video to know how to sell your shares without POA.

     

     

     

     

  4. 4. How to open a Demat account with Choice Broking?

    The Choice Broking offers to open online as well as offline Demat account. The online account opening is an easy and convenient way to open a Demat account. It is a paperless process wherein you can instantly sign up within 5 minutes to open the account using your Aadhar card. 

    Steps to Open a Demat Account in Choice Broking 

    1. Go to the Choice Broking website or download the mobile app - Jiffy.
    2. Sign-up by providing basic details viz. name, mobile no. and City.
    3. Upload the relevant documents and passport size photograph.
    4. Complete the in-person verification (IPV) to complete the registration process.
    5. Courier the POA received on your registered mail id to the broker office.
    6. The broker verifies the submitted documents.
    7. The account gets activated on completion of the verification of the documents.
    8. You would receive a mail from the company on the activation of your account. 

     

    With the introduction of eDIS, it is now optional to sign and submit the POA for CDSL account holders. 

    To open an account offline, you need to: 

    1. Download the 'Account Opening Form' from the company's website
    2. Print and fill it.
    3. Attach the required documents.
    4. Courier the form and documents to the broker office.

     

    Alternatively, you can walk-in at any of the Choice Broking branch offices and get the account opened.

     

Zerodha (Trade with the best stock broker)

Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account and start trading today.

Information on this page was last updated on Tuesday, November 24, 2020

Zerodha (Trade with the best stock broker)

Special Offer - Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account and start trading today.


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