Kotak Securities today announced that it has revised its Annual Maintenance Charges (AMC) – DP charges for customers who have holdings of less than ₹10,000 having to pay zero AMC charges going forward. In addition, clients of Kotak Securities can now also make changes in their Demat Account at a zero cost.
AMC-DP charges are levied by NSDL and is a charge applicable for all trading accounts. Earlier, all Kotak Securities’ trading account holders covered under the non-Basic Services Demat Account (non-BSDA) had to pay a certain percentage as an AMC charge that is now waived off.
Jaideep Hansraj, MD & CEO, Kotak Securities, said, “The investors with holdings of up to ₹10,000 or below are in the early stages of their investment journey and are yet to unlock the full potential of trading. The revision in AMC-DP charges will benefit a significant segment of our clientele.”
Kotak Securities Limited (KSL), a subsidiary of Kotak Mahindra Bank, is one of India’s largest full-service stock broking firms catering to retail and institutional investors across all segments of the capital market.
Through a tie-up with partner brokers, the company also provides direct access to the US markets. As on 30th September 2021, KSL has a national footprint of 153 branches, 1332 franchisees and satellite offices across 361 cities in India serving 27 lakh client base. KSL provides a wide array of services including investment options in equities, derivatives (equities, commodities, currency) and mutual funds. It also offers margin trade funding, depository services and third-party products like insurance.
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