Upstox Discount Broker: Understanding the AMC for Demat Accounts

Do you wonder if Upstox, as a discount broker, charges any AMC (Account Maintenance Charge) for its demat accounts? The answer might surprise you. Before diving into the details, it's important to note that policies can change, so it's always a good idea to check the latest terms and conditions on their website or contact their customer service for up-to-date information.

No AMC for New Accounts, But Check Terms and Conditions

For new investors who opened their accounts after August 2021, there's no AMC to worry about for Upstox's demat accounts. However, it's crucial to familiarize yourself with the terms and conditions, as they can vary.

Exact AMC Charges Explained

Before August 2021, Upstox used to charge an AMC of Rs 300 (including GST) annually. But as of now, this charge is waived for new accounts. If you opened your account after this date, you do not need to worry about the AMC.

Regular AMC Charges and Offers

For those who have accounts opened before August 2021, the AMC is still applicable. However, it's important to note that even with the AMC, the cost per month is quite minimal. Upstox charges Rs 25 per month for AMC, which amounts to Rs 300 annually (including GST). While this is not free, it is a reasonable amount considering the services provided.

It's worth mentioning that paying Rs 25 per month for AMC is quite affordable among online brokers. The demat and trading account is free to open, making Upstox even more attractive for cost-conscious investors.

Brokers with Zero AMC Charges

If you're looking for a broker with no AMC charges for lifetime, Upstox is not the only option. Here are some brokers that offer zero AMC charges:

Finvasia - A commission-free broker with zero AMC for lifetime. ProStocks - Another discount broker with zero AMC charges. Rmoney - A broker offering zero AMC charges for a lifetime.

While Upstox charges Rs 25 per month or Rs 300 annually, there are brokers out there that provide more favorable terms with no AMC charges at all. If cost is a significant factor in your decision, you may want to consider these options.

Remaining Reasonable With AMC

Even though Upstox charges Rs 300 for AMC annually, which is reasonable compared to the average of Rs 150 to Rs 1000, there are other brokers offering zero AMC for lifetime as mentioned above. For most investors, the AMC of Upstox is a fair price to pay for the services provided.

For regular investors, being mindful of these charges and ensuring that you're aware of the latest policies will help you make informed decisions about your investment costs.