Is Upstox demat account AMC free only for first year or Lifetime free?

General
1

Hello

I wish to get some doubts cleared before I open an Upstox account in future.

I saw that Upstox provides a free demat account (for new customers) with zero AMC (annual maintenance charges) for the demat account.

But Chittorgarh.com shows that Rs 150 + GST is charged as the trading account annual maintenance charges fees.

Is this true?

Is the annual AMC = 0 or annual AMC = Rs 150?

on Upstox website it says:

“The account opening is free for the first year. For the second year, the customer will be charged INR 300.”

Link: Free Demat Account with NO Annual Charges - Lifetime AMC Free Demat Account

Here also it says : INR 0 annual AMC charges for the first year

Can you clarify if Upstox is actually a lifetime free demat account (i.e. 0 Annual Maintenance Charges) ?

OR

if Upstox AMC is Rs 300 from second year onwards?

Anybody who has opened an Upstox account after Aug 2021, could you kindly advise.

I asked their customer support, they don’t give proper answers and are very slow in replying…

2

I have checked their pricing page and it seems that they don’t charge for the lifetime. However, I would recommend you to call them.

Mind you unlike Zerodha and Fyers they charge brokerage on delivery too. So if you’re an investor Upstox might be costly.

2 Likes
3

Thanks for clarifying!
On their pricing page, it seems that are being deliberately ambiguous and unclear. In one place on Upstox website it says:

“The account opening is free for the first year. For the second year, the customer will be charged INR 300.”

Link: [Free Demat Account with NO Annual Charges - Lifetime AMC Free Demat Account ]
(Free Demat Account with NO Annual Charges - Lifetime AMC Free Demat Account)

however elsewhere I see that that Upstox demat is actually a lifetime free demat account for those who opened accounts after Aug 2021. That’s why the confusion arose.

4

Upstox is lifetime AMC free if you open now. But they charge equity delivery

5

As per SEBI, a demat account with less than 2 lakhs in holding is considered under BSDA (basic services demat account) in which AMC is waived off (partially or fully). Zerodha does it automatically while Upstox required me a physical form (when I was a customer). Find more here

1 Like
6

Cool thanks! But this creates confusion… is Upstox lifetime zero AMC only if my holdings are within Rs 2 lakh limit or is it lifetime free AMC for everyone who opened Upstox accounts after Aug 2021?

7

I think the lifetime offer is applicable even beyond 2 lakh. However, you should confirm with them.

And IMO AMC should not be a pain point due to BSDA. Till 50k it’s nil and afterwards, it’s 100. Once your investment corpus is more than 2 lakh, you can afford to pay 300 (most discount brokers) as AMC. This is applicable to all the brokers.