What happens if I do not pay AMC for a demat account?

asked Sunday, April 5, 2020

If you do not pay the AMC for you're demat account, following things will happen:

You will be bombarded with reminders via Email, SMS and Phone Calls by the broker.
After some time, your demat account is declared a dormant account (inactive). This means you can't do any transaction until it's reactivated.
To reactivate, you have to pay the reactivation fee (~ Rs 500) and clear all the dues (AMC + interest).
To close a dormant demat account; you have to reactivate it first.
If you have no holdings and have a dormant account with a broker, they will not allow you to open another account.
The brokers (depository participants or DP) hold the dormant account forever. They will keep sending you reminders and a demat account statement.

Note:

The time to declare an account dormant, reactivation fee, interest rate, etc differs by a broker to broker.
Open a Lifetime AMC Free Demat Account, if you are not an active investor.

answered Sunday, April 5, 2020

11 Comments

11. Praveen M R

| Link|Sep 9, 2022 6:58:48 PMReply

I opened icici direct account by referral and i am not using it for year after they send me some emails to that i have to pay 826 rs. Iam not used anything i only just opened by referral. Is that any problem for me to not paying the due.

11.1. Jahmed

| Link|Dec 9, 2022 2:14:56 PM

I am also facing same issue.. Icici wants to make easy money.. as long as there are no holdings in Dmat account they cant do anything so just ignore it.

10. Archana Pravin Jain

| Link|Aug 27, 2022 12:13:44 PMReply

we having open a demetn account with Reliance money on 25.08.2022. We had a talk with Mrs. Sumaiya Kahan that We want to revive the fozen account with Stock holding. On her promis that the procedure is for revival of frozen account with Stock Holding, we submitted all the documents required by them. We did not know that the detailed furnish with land in opeing a new demet account with reliance. We want to close the account as we have other DP account.

9. Shyamala

| Link|Jun 4, 2022 4:31:56 PMReply

Can my broker charge intrest on AMC?
My AMC is from 1April 22 and already they have charged intrest of 10 rs?
Are they liable to charge interest?

8. Souvik Dhali

| Link|Apr 19, 2021 9:03:15 AMReply

Maine Sharekhan par ek account khola tha to uske bad kuch waja se o account 0 transaction hey to mera broker mujhe mail kar raha hey or bola raha hey ki jo usne KYC karwaa tha uske lia 30 rupia mere account pe minus hey or meine abhi tak us account me 1 payse ka vi kuch nehi kiya to vai please batao mujhe koi case base nehi hoga yeah koi jada ammount to nehi katage na ??
Please batao vaia

8.1. Yash

| Link|Apr 29, 2021 12:20:39 PM

I am in the same situation and having the same doubt, please someone reply

8.2. Randi

| Link|Mar 7, 2022 3:00:14 PM

Chill bro kuch nai hoga 6 mahine main deactivate ho jaega apne app

7. Dawa Lama

| Link|Jan 18, 2022 1:12:22 AMReply

Bhai log maine sirf refer and earn k chakkar mein khola tha 5paisa account..refer ka paisa bhi nahi mila..aur muje ye account close karna hain..aur main ye account use kar nahi raha huu toh annual maintenance charges lagega.. aur refer or earn ki chakkar main maine apni maa ka account bhi open kardiya hain...maine annual charges nahi diya toh kuch hoga mujhe..kuch batao bhai logg

7.1. Aryika

| Link|Jan 24, 2022 4:36:44 PM

Hey Dawa lama!
Tum account close kr skte ho easily.
Reach out to me for free financial consultation gromo.in/Aryika/LQZS8822

7.2. Madarchod

| Link|Mar 7, 2022 2:59:11 PM

Bhai kuch nai hoga chinta mat kar ek kam kar bas bank account change karde or wo wala account dalna jiska use nai hota or mail karna agar online ho gya to theek nai to form bhrna padge tension mat lo kuch nai hoga chill

6. Chirag pawar

| Link|Sep 22, 2020 6:04:26 AMReply

Case toh nhi hoga na mujhpe

6.1. Ryan

| Link|Jan 15, 2021 1:07:48 AM

Naii Bhai aisa kuch nai hoga tension mat le !

5. Kris

| Link|Jan 16, 2021 8:00:38 PMReply

I have opened a demat in 2001 and no phone number and email registered that time. I have few shares at that time and after that there was no communication from them. Now when I enquired regarding the same they are asking me to pay Fee along with interest which is around 40k which is almost same as that of my shares value. I have not received any communication from bank as I don't have the updated contact details. Can you please suggest what's the best way to come out of this??

5.1. BHAGYESH DALMA

| Link|Feb 9, 2022 3:51:05 PM

i am facing a similar issue, if someone has any alternative kidnly help

4. Sanjay

| Link|Jun 14, 2021 9:04:44 AMReply

I have Demat account with Angel broking without any holding.I didn't pay any AMC charges so far inspite of reminders.Now I am not receiving any communication from them regarding AMC.Is it closed or dormant now ? Shall I need to communicate with them ?

4.1. Parveen

| Link|Jun 30, 2021 6:48:58 PM

Mujhe mera A/C close karwana hai

4.2. RABINDRA PATNAIK

| Link|Jul 1, 2021 8:37:54 PM

I have an Dmate a/c with stock holding corporation of India,branch bhubaneswar.The stocks have been sold by me.I have duly submitted the a/c closing form and complied all the formalities as asked by shcil,bbsr.
So far they have not closed the a/c.Severaltimes on telephoning them they are not responding to the call.
Kindly suggest what I have to do now

3. Yasodha

| Link|Jan 18, 2021 11:23:42 AMReply

Is there any possible to upstox get money from our Aadhaar linked bank account?

3.1. Karthik BT

| Link|May 13, 2021 2:22:11 PM

No they can't

2. Bharat Bhushsn Agrawak

| Link|Feb 21, 2021 2:08:13 PMReply

I want close my demat account.which is open ebor.my ac. Is 13017600 00409784.
Bank is. not provide to me DI slip.after murger.
Now i want close demat ac. And transfer my holding to zerodha ac.12081600 56852186.
in that time mob. No. And mail id not update in system.because mob.network not available.

1. Rajan Yadav

| Link|Jul 25, 2020 2:20:18 PMReply

what if i dont pay AMC for Demat Account ?
My Concern is that will it effect my Civil score? Suppose inFuture i am applying for loan,etc

1.1. Amitgh

| Link|Sep 18, 2020 11:51:56 AM

Brother civil score pr farak pdega ??

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