Demat Account Charges in India: AMC, DP Charges, Brokerage and Hidden Costs Explained

What Are the Different Types of Demat Account Charges in India?

Demat account charges are frequently misunderstood because investors lump all demat account charges under the single word brokerage. under the word brokerage. In reality, the total cost of owning a demat account consists of at least five separate charge categories, each applied by a different entity at a different point in time.

Charge type	Who collects it	When it applies
Account opening fee	Broker / DP	One-time, at account opening (free with many brokers)
AMC (Annual Maintenance Charges)	Depository Participant	Yearly, regardless of trading activity
DP charges	Depository Participant	Per debit from demat account (per sell or transfer)
Brokerage	Stockbroker	Per executed buy or sell order
Statutory charges (STT, GST, exchange fees, SEBI levy, stamp duty)	Government / Exchange / SEBI	Per executed order, uniform across all brokers

Click Here – Get Free Investment Predictions

What Is AMC and How Does It Affect Your Total Demat Account Charges?

AMC is one of the most overlooked demat account charges. AMC, or Annual Maintenance Charges, is the fee your depository participant charges for maintaining your demat account each year. It is a flat fee that applies whether you place one trade or hundreds during the year, and whether your account holds Rs 500 worth of shares or Rs 50 lakh worth. AMC is typically billed annually or quarterly depending on the broker.

Some brokers advertise a zero-AMC demat account for the first year. This is a promotional waiver and does not mean the account is permanently free. From year two onward, the standard AMC resumes. When comparing brokers, check both the first-year and ongoing AMC rather than the promoted offer alone. For small investors with inactive accounts, AMC is often the single largest annual demat account cost.

What Are DP Charges in Demat Account Charges and When Are They Applied?

DP charges are demat account charges levied by the depository participant each time securities are debited from your demat account. This happens when you sell shares, transfer shares to another demat account, or pledge shares. Importantly, DP charges are not levied on purchases. Shares entering your demat account do not attract a DP charge, only shares leaving it.

DP charges are typically a flat amount per scrip per settlement day, regardless of the number of shares sold. This means selling 10 shares of a single stock and selling 1,000 shares of the same stock in one transaction may attract identical DP charges for that scrip. For investors who trade multiple scrips in a day, each scrip sold is counted separately, which makes DP charges more significant for active equity traders.

Use the Univest Stock Screener to Find Quality Stocks

What Statutory Demat Account Charges Apply and Who Sets Them?

Statutory levies form the third category of demat account charges, mandated by the government, SEBI and the exchanges. They are identical across all SEBI-registered brokers and cannot be negotiated or waived. The main statutory charges are Securities Transaction Tax (STT), exchange transaction charges, SEBI turnover fees, stamp duty and GST on brokerage. All these apply on top of your broker's stated brokerage rate.

Below is a worked example of the total charges on a single equity delivery trade of Rs 10,000.

Charge	Rate (approximate)	On a Rs 10,000 delivery buy
Brokerage	Flat fee (varies by broker)	As per broker tariff
STT	0.1% on buy (delivery)	Rs 10.00
Exchange transaction charges (NSE)	~0.00297% on turnover	Rs 0.30
SEBI turnover fee	0.0001% on turnover	Rs 0.01
Stamp duty	0.015% on buy (delivery)	Rs 1.50
GST on brokerage	18% of brokerage amount	As per broker tariff
Total statutory (excluding brokerage)		Approx. Rs 11.81 on this trade

How to Read a Broker Tariff Sheet to Understand All Demat Account Charges

The tariff sheet is your complete guide to all demat account charges at any broker. Every SEBI-registered broker is required to publish a tariff sheet disclosing all demat account charges applicable to their account. Before opening an account, download and read the tariff sheet from the official broker website rather than relying on the advertised headline rate. Before opening an account, download and read the tariff sheet from the official broker website rather than relying on the advertised headline rate, which is typically only brokerage.

When reading a tariff sheet, check five specific items: the AMC amount and billing frequency; the DP charge per debit scrip; the brokerage rate for each segment (equity delivery, intraday, futures, options); whether there are any additional custodian or platform fees; and the exit or account closure charges, if any. For Univest, the current tariff sheet is available at univest.in/stock-broker and should be reviewed before account opening.

How Univest Charges Compare to the General Demat Account Market

Univest publishes its demat account charges on its official tariff page. Univest is a SEBI-registered platform (SEBI RA Reg. No. INH000013776) offering a demat and trading account alongside research and advisory features. As with all SEBI-registered brokers, Univest charges AMC, DP charges and brokerage in addition to the mandatory statutory levies. Account opening is free. The exact current rates for AMC, DP charges and brokerage are published on the official Univest pricing page.

For investors evaluating Univest against other brokers, the comparison should be done on total annual cost for their expected usage, not on any single charge category. A broker with lower brokerage but higher AMC may cost more overall for an investor who trades infrequently. For current verified pricing, refer to univest.in/stock-broker and compare it against competing broker tariff sheets using the same framework.

Conclusion

Demat account charges in India are more complex than most investors realise. Getting a full picture of all demat account charges before opening an account can save you thousands of rupees annually. AMC, DP charges and brokerage are three separate costs charged by different entities. Statutory charges add further to the total and are identical across all brokers. Before opening any demat account, download the broker's tariff sheet and calculate your expected total annual cost based on how often you plan to buy and sell. This gives a far more accurate comparison than focusing only on brokerage.

Download the Univest iOS App or Univest Android App to open your demat account and manage your investments in one place.

Frequently Asked Questions

What are all the demat account charges in India?

Ans. Total demat account charges in India include AMC (annual maintenance charge), DP charges per debit transaction (per sell), brokerage per executed trade, and statutory levies such as STT, exchange transaction charges, SEBI turnover fees, stamp duty and GST on brokerage. Each charge is applied by a different entity. The total annual cost depends on your trading frequency.

What is AMC in the list of demat account charges?

Ans. AMC stands for Annual Maintenance Charges. It is a flat annual fee charged by the depository participant for maintaining your demat account. AMC applies every year regardless of whether you trade or not. Some brokers waive it for the first year as a promotion. From year two, the standard AMC applies at the full rate stated in the broker's tariff sheet.

How do DP charges fit into total demat account charges?

Ans. DP charges are levied each time shares are debited from your demat account, such as when you sell or transfer holdings. They are not charged on purchases. DP charges are typically a flat amount per scrip per settlement day, meaning selling multiple quantities of the same stock in one transaction attracts only one DP charge for that scrip.

Are statutory charges the same across all brokers in India?

Ans. Yes. Statutory charges including STT, exchange transaction charges, SEBI turnover fees, stamp duty and GST on brokerage are set by the government, SEBI and the exchanges. They are identical across all SEBI-registered brokers and cannot be waived or negotiated. These charges apply in addition to the broker's stated brokerage and AMC.

Does Univest charge AMC and DP fees on its demat account?

Ans. Yes. Univest charges AMC and DP fees as applicable under CDSL guidelines. Account opening is free. For exact current rates of AMC, DP charges and brokerage across segments, refer to the official Univest pricing page at univest.in/stock-broker. Statutory charges (STT, GST, exchange fees) also apply on all trades and are identical to those at any other SEBI-registered broker.

How do I calculate total demat account charges for a year?

Ans. Add your expected AMC, estimated DP charges (number of sell transactions per year multiplied by DP charge per scrip) and estimated brokerage (number of trades per year multiplied by brokerage per trade). Add applicable statutory charges on each trade. This total gives your expected annual demat account cost, which you can compare across brokers using the same formula.