IL&FS AMC charges for zerodha clients


#1

I started my zerodha trading account in 2014 and my demat account is with IL&FS. I have been paying AMC charge for demat account of IL&FS for 2014 and 2015 by logging into their site. The outstanding amount is shown in the site and I pay it through online banking.

Now for 2016 and 2017, I am not seeing any outstanding amount and I didn’t pay AMC. did they waive the AMC amount ? any one else have any info on this ?


#2

The chances are that ILFS has automatically converted your DEMAT Account to BSDA and stopped charging you the AMC.

More light on this topic here:


#3

Possible scenario: If your holdings value is less than 50k as of AMC billing date, then your Demat is automatically converted to a BSDA account. Rates as below:

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If this is not the scenario, then you should write to ‘support@zerodha.com’. They’ll let you know what your exact ILFS outstanding AMC charges are


#4

Thanks. I came to know about BSDA only now. You were right, I didn’t have any holding during this period in which AMC was not charged

I would like to know if I start trading again and started holding shares in my demat account, will my account changed back to original type account with AMC ? what are the rules in this regard ?


#5

Once the holdings cross the threshold of 50k, it will automatically converted to regular.

This is all done automatically and there is nothing you need to do from your side in this regard.