Indiabulls - Revised Demat Charges w.e.f 1st April 2012

#1
Indiabulls has revised its zero AMC Charges to Rs 450 (account with POA) and Rs. 500/- (account without POA) for AMC - Individual (inclusive of service Tax) payable upfront.

Indiabulls

Now, which is the best option available like moving to ICICIDirect or any other, for a person like me who rarely buys stocks and in small quantity. Only reason I was with Indiabulls was, it had zero AMC.
 
#2
Indiabulls has revised its zero AMC Charges to Rs 450 (account with POA) and Rs. 500/- (account without POA) for AMC - Individual (inclusive of service Tax) payable upfront.
Indiabulls

Now, which is the best option available like moving to ICICIDirect or any other, for a person like me who rarely buys stocks and in small quantity. Only reason I was with Indiabulls was, it had zero AMC.
I am confused with the "Transaction charges (Buy) - NIL " . Does it mean that on buying , we need to pay zero charges and only at the time of selling the brokerage will be charged and that too max 0.02% ?
 

Alchemist

Administrator
Staff member
#3
Now, which is the best option available like moving to ICICIDirect or any other, for a person like me who rarely buys stocks and in small quantity. Only reason I was with Indiabulls was, it had zero AMC.
You can consider Kotak Securities. Kotak Securities charges Rs 400 - Rs 500 as demat AMC but the bank gives higher interest and that usually makes up for higher demat charges.

I am confused with the "Transaction charges (Buy) - NIL " . Does it mean that on buying , we need to pay zero charges and only at the time of selling the brokerage will be charged and that too max 0.02% ?
These are demat charges and not brokerage. Brokerage is different and higher.
 
#5
So now Indiabulls will change AMC and whenever you sell shares they charge 10 Rs as demat charges but Indiabulls PIB software is good. That is the only reason why I am staying with them for now.
 

Alchemist

Administrator
Staff member
#6
So now Indiabulls will change AMC and whenever you sell shares they charge 10 Rs as demat charges but Indiabulls PIB software is good. That is the only reason why I am staying with them for now.
The transaction charges (on sell transactions) have always been there.

I checked old bills of my Indiabulls demat account.

Indiabulls had increased transaction charges (on sell transactions) from Rs 8 to Rs 10 w.e.f. from 1st June 2008.

The current charges (Rs 9.5 per transaction) are lower.
 

Alchemist

Administrator
Staff member
#8
Kotak is costly at Rs 50 per month (Rs 600 per year) for AMC. how is ICICIDirect now compared to these 2?
Indiabulls has lower broking charges, but it doesn't allow trading in all stocks and that's one of the main reasons why I closed my account.

ICICIDirect has a lot of features and that's the primary reason why I didn't close my brother's and dad's accounts.

I use Kotak securities as it offers me a trading terminal. I think both Kotak Securities and ICICIDirect are good for not-so-active investors.

As I mentioned earlier, Kotak Bank gives higher interest in savings accounts and that can make a big difference foe someone who usually keeps more than Rs. 30000 in his savings accounts.

1.5% difference in interest rate on a principal of Rs 30000 means a Rs 450 difference in annual interest. Kotak Bank also has auto-sweep facility.
 
#9
Checked with Kotak today, they have account opening charges Rs. 750 only., which I think too high. now ICICIDirect needs to be checked.
 
#10
Kotak is not ready to waive-off account opening charges whereas ICICI has around Rs 450 of same, but with high brokerage. Is there any easy way get account opening charges waived with any of them?
 
#11
ICICI Direct waives of Account Opening Charges as well as first year AMC if you work for some blue chip companies. Even if you don't; then also Account Opening Charges can be reduced (even to Zero) if your take home salary is in excess of INR 50000 pm.

Even if that is not the case, usually their Account Opening Charges are adjusted against first year AMC.

This was the case about a year back. Please check with them if it still so.
 
#12
Thanks ethicaltrader for that. I got call from icicidirect. Rs 250 account opening charges with first year AMC free and Rs 450 from second year onwards. Going to open account with them now.
 
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