A Basic Services Demat Account (BSDA) was started by SEBI to promote financial inclusion by encouraging small investors to familiarize themselves with Demat accounts without any Annual Maintenance Charges (AMC). Generally, BSDA can be opened only if you have a single Demat account and your holding value should be less than Rs. 50,000/- to avail free service without recurring maintenance charges. However, with FYERS, even if your holdings are above Rs. 50,000, your AMC will still be Zero. To learn more about BSDA, read this SEBI circular.
To open a BSDA account, While filling up the Demat form you will have to mention as BSDA Demat Account to avail the BSDA facility.
You can open an account with us here.
Note: Once a regular Demat account is opened, it cannot be converted to BSDA account.