Karvy Demat Account Charges, Review, Opening

-99.15% 2,064 Clients

Alert! 25th Nov 2020 - NSE, BSE terminate Karvy's membership.

Alert! Friday, 22 Nov, 2019 SEBI barred Karvy Stock Broking Ltd. from taking on new clients after finding alleged client fraud. Read SEBI Notice and News for more detail.

Note: Karvy will continue serving their existing clients as they were before. They can trade, manage demat accounts, apply in IPO or close the account anytime. Only the new account opening is prohibited.

Karvy Customers,

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Karvy Stock Broking Limited (Karvy) is a SEBI registered Stock Broker, Depository Participant, Portfolio Manager and the distributer of financial products in India. Karvy offers trading services at BSE, NSE and MCX since 2004.

Karvy Stock Broking is part of Karvy Group, a Hyderabad based diversified financial service provider. Karvy group was founded in 1982. Karvy group of companies serve over 7 crore customers and over 800 corporates.

Karvy is an electronic custodian registered with the National Securities Depository Ltd (NSDL) and Central Securities Depository Ltd (CSDL). Karvy offers depository participant services (mainly Demat Account related services) to retail and corporate customers since in 1998.

The Karvy Demat Account can be access online as well as offline through the network of branches. Karvy's Online DP Services provide secure access to the Demat Account online.

Products offered by Karvy Stock Broking includes.

Facts about Karvy Stock Broking (As of Dec 2016)

  • Number of offices: 900+
  • Presence in number of cities: 400+
  • Number of employees: 16,000
  • Products offered: Equity, Derivatives, Mutual Funds, Currencies, Commodities, SIP and Depository Services

Services Offered by Karvy Depository Services

  1. e-Services (to handle demat account online)
  2. Dematerialization (to convert physical shares to electronic)
  3. Rematerialization (to convert electronic shares in Demat to shares on paper certificate)
  4. Pledge (to pledge securities to avail a loan)
  5. Account Transfer (to transfer securities to another demat account)
  6. IPO's (IPO allotment, bonus and rights issues are credited automatically)
  7. Corporate Actions (Dividend, interest or non-monetary benefits like bonus, rights, etc are settled automatically)

Zero AMC Demat Account (Lifetime Free Demat)

Karvy offers Zero AMC Demat Account when customer pays Rs 1200 onetime fee. Note that this is not a refundable deposit. But if customer decide to close the account within the period of 6 years, the refund will be made after deduction of relevant Annual charges.

Karvy Demat Account Review

The demat account provided by Karvy has all standard features. Karvy demat account is well integrated with its trading account for seamless transaction. The demat account can accessed online any time and anywhere. The account can also be accessed by visiting Karvy branch offices.

Karvy offers Demat Account through both NSDL and CDSL.

The AMC charges of Rs 500 per years is on higher side. They also offer AMC free account with Rs 1200 upfront onetime payment. Brokers like ProStocks offer Zero AMC Demat account with Rs 1000 refundable onetime deposit.

Karvy Demat Account Opening Charges

To open a new Demat account with Karvy, 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.

Demat Account Opening FeeRs 0
Demat Account Annual Charges (AMC)Rs 420

Karvy Depository Service Charges

For Resident Retail Customers and Corporates
Particulars Charges
Account Opening Fee Nil
Closure of Account Nil
First Year AMC Nil
Annual Maintenance Charges Rs 500
Transaction Charges (Debit) Rs 12 per instruction (CDSL)
Demat Charges Rs 5 per certificate + Courier Charges Rs 40
Remit Charges Rs 20 for every 100 securities or Rs 20 per certificate whichever is higher
Pledge Creation 0.03% of value of securities, Minimum Rs 100 and a Maximum of Rs 5000 Per instruction
Pledge Closure 0.03% of value of securities, Minimum Rs 100 and a Maximum of Rs 5000 Per instruction
Pledge Invocation 0.03% of value of securities, Minimum Rs 100 and a Maximum of Rs 5000 Per instruction
Failed instruction charges Rs 100 Per instruction
Other Charges 1. Rs 100 per Demat Rejection
2. Rs 100 per Client Modification Request
3. Rs 100 per DIS Lost Request
4. Rs 100 per request for physical statements

Karvy Competitors Review

Information on this page was last updated on Saturday, June 6, 2020


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