Axis Bank, founded in 1993 initially named UTI bank, is currently one of the third largest Indian Banks. It offers a wide array of financial services to its customers. It has over 4050 branches across India and has one of the largest networks of ATM with 11,801 ATMs present along the width and breadth of India. There are around nine international offices and two crore customers using their service presently.
The Demat account of Axis Bank allows you to secure your shares electronically. With it, you can effortlessly manage your shares from anywhere around the globe. They have an app that you can download from google play store where you can access your transactions and holdings at your fingertips.
You can readily Demat and Remat your shares and also the transfer of your dividends and interests automatically. Corporate benefits like bonuses and rights can be received to your account through this electronic method.
Various Axis Bank Demat Account Charges
Axis Bank Demat Account opening and closing Charges
You can create a Demat account without any account opening charges, and if you wish to close your account, there are no charges as well.
Axis Bank Demat Account Annual Maintenance Charges
However, for all the Axis Bank Customers, there are no annual maintenance charges for the first year, but the customers have to pay 750 INR from the subsequent years for the regular account. For non-axis bank customers, there have to pay annually 2500 INR from the first year itself for a regular account.
There are no charges if you’re holding up to 50,000 INR in your Demat account. But from 50,001 INR to 2 lakhs, the minimum fee is 100/- If your holding value exceeds 2 lakhs, then tariffs for regular accounts will be applicable.
Demat and Remat Charges
The Demat charges for a regular account are rupees 5 per certificate or 50/- per request. The same charges stand for Basic Services Demat Account. The Remat charges for a regular account as well as a BSDA account will be 20/- for 100 securities or depending on whichever is higher, it will be 50/- per request.
- The Speed-e debit transaction charge will be rupees 25 for a single transaction if yours is a regular account; 0.06% of the transaction value or 50 INR depending on which is higher if yours is a BSDA account.
- If you wish to close your account mid-year, then you will receive the pro-rated refund. The existing discounts like Priority, Burgundy, and Family Banking will be continued.
- The value of shares and securities will be calculated based on the formula and rates by CSDL/NSDL.
- Under basic services Demat account, if you’re a Burgundy and Infosys Salary account holder, you will be charged as a regular customer. The discount only for such holders and other BSDA members will not be eligible.
- The account value of holding will be defined daily for the Basic Services Demat Account.
- If you want to modify your account, you will be charged 100/- for the BSDA account but not for a regular account.
The Axis Bank Demat Account charges will be comprising of Annual Maintenance charges, speed-e charges, debit charges, Demat and Remat charges. You can electronically manage your securities without any physical papers around you.