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

asked

Save over 60% on Brokerage

We can help you save between 60% to 90% brokerage fee & taxes. Contact us today...

NamePhone
EmailCity
State
Are you a day trader?

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

  1. You will be bombarded with reminders via Email, SMS and Phone Calls by the broker.
  2. After some time, your demat account is declared a dormant account (inactive). This means you can't do any transaction until it's reactivated.
  3. To reactivate, you have to pay the reactivation fee (~ Rs 500) and clear all the dues (AMC + interest).
  4. To close a dormant demat account; you have to reactivate it first.
  5. If you have no holdings and have a dormant account with a broker, they will not allow you to open another account.
  6. 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


5 Comments

Bharat Bhushsn Agrawak
5. Bharat Bhushsn Agrawak  Feb 21, 2021 14:08 I Like It. | Report Abuse Reply 0
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.
Yasodha
4. Yasodha  Jan 18, 2021 11:23 I Like It. | Report Abuse Reply 0
Is there any possible to upstox get money from our Aadhaar linked bank account?
Kris
3. Kris  Jan 16, 2021 20:00 I Like It. | Report Abuse Reply 0
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??
Chirag pawar
2. Chirag pawar  Sep 22, 2020 06:04 I Like It. | Report Abuse Reply 0
Case toh nhi hoga na mujhpe
Ryan
2.1. Ryan  Jan 15, 2021 01:07 I Like It. | Report Abuse 0
Naii Bhai aisa kuch nai hoga tension mat le !
Rajan Yadav
1. Rajan Yadav  Jul 25, 2020 14:20 I Like It. | Report Abuse Reply 0
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
Amitgh
1.1. Amitgh  Sep 18, 2020 11:51 I Like It. | Report Abuse 0
Brother civil score pr farak pdega ??


List of all questions Ask your question


More Demat Account Questions...

  1. Is it mandatory to have a demat account to apply in an IPO?
  2. How do I transfer from one demat account to another demat account?
  3. I do not have a demat account. Can I apply in an IPO?
  4. How much interest do I get on demat account?
  5. What are the maintenance changes for a demat account? Are there any hidden charges or processing fees on the transactions I do on demat account?
  6. Do I have to pay yearly maintenance changes even I do not hold any shares in my demat account?
  7. Can a person have more than one demat account on his name?
  8. Can a Demat account opened for a minor?
  9. What is the diffrence between Demat account number and Trading account number ?
  10. What is CDSL and NSDL ?
  11. Can a minor open trading Demat account?
  12. What is a depository?
  13. Who is Depository Participant (DP)?
  14. What is dematerialisation Process?
  15. Why should I hold shares in demat account and is it compulsory for every investor to open a demat account to trade in the stock market?
  16. How many demat accounts I can open?
  17. Is there nomination facility in demat account ?
  18. Do I have to contact all companies for any update in my personal details ?
  19. I am not a frequent trader on stock exchange. What should I do with transaction statement ?
  20. What kind of help can I get If I have problem with my NSDL demat account?
  21. Can I take a loan on my demat holdings?
  22. How much do I pay for my demat account?
  23. What are the value added facilities on my demat account ?
  24. What precautions should i take to prevent misuse of securities lying in my account ?
  25. Can I open more than one demat account with only one DP in identical names?
  26. Can a demat account be opened with four holder's names?
  27. What is the Standing Instruction given in the demat account opening form?
  28. Can someone else operate my demat account on my behalf on the basis of Power of Attorney?
  29. What is a clearing member account and how is it different from a beneficiary account?
  30. How many Demat Account can be added to my Trading Account?
  31. How many Demat Accounts do I need?
  32. Is there any nomination facility in Demat Account?
  33. Do I need to contact all companies for any update in my personal details?
  34. What precautions should I take to prevent misuse of securities lying in my demat account?
  35. I am not a frequent trader on stock exchange. What should I do with Transaction Statement?
  36. How much do I need to pay for my Demat Account?
  37. What kind of help can I get if I have any problem with my NSDL Demat Account?
  38. What are the value added facilities on my demat account?
  39. How long can I hold the shares of a company? What are the changes applied in holding shares for the long term?
  40. How do I safeguard my Demat Account with Power of Attorney to Broker?
  41. Are there different types of Power of Attorney?
  42. What is the validity of my Power of Attorney for demat account?
  43. Are there any charges associated with Demat Power of Attorney?
  44. Does broker allows time bound Power of Attorney for Demat Account?
  45. Should Power of Attorney be printed on the Stamp Paper?
  46. Can I sign Power of Attorney online?
  47. Can a Broker misuse the Power of Attorney?
  48. Can a Broker withdraw money from my linked bank account using the Power of Attorney I gave?
  49. Can I use Broker Pool Demat Account to keep my share and do not give Power of Attorney?
  50. Can I trade in Futures and Options without Power of Attorney to my Demat account?
  51. My signed Power of Attorney is still in courier. Can I still trade?
  52. How can I get dividends directly to the bank instead of the cheque? Is there any online application?
  53. Can I add another person to my demat account?
  54. Why do I need a demat account?
  55. Is demat account required for SIP?
  56. What is the differences between NSDL and CDSL?
  57. Does any stock broker offer CDSL Easiest facility?
  58. Can I transfer shares from CDSL demat account to NSDL demat account?
  59. What happens if I do not pay AMC for a demat account?
  60. Can I open Demat Account without PAN Card?

List of all questions Ask your question









Search Chittorgarh.com:

Download Our Mobile App

Android App iOS App