Kotak Securities today announced that it has revised its Annual Maintenance Charges (AMC) - DP charges for customers who have holdings of less than Rs 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.
As an industry practice, 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 Rs 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.”
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