Kotak Neo Introduces Zero AMC-DP Charges for holdings below Rs 10,000

Mumbai, 1st November, 2021: Kotak Neo today announced that it has revised its Annual Maintenance Charges (AMC) - DP charges, with customers who have holdings of less than Rs 10,000 have to pay zero AMC charges going forward. In addition, clients of Kotak Neo can now also make changes in their Demat Account at a zero cost.

As an industry practice, AMC-DP charges are levied by NSDL and is a charge applicable for all trading accounts. Earlier, all Kotak Neo’ trading account holders covered under the non-Basic Services Demat Account (non-BSDA) had to pay a certain percentage as an AMC charge that is now waived off.

Jaideep Hansraj, MD & CEO, Kotak Neo, said, “The investors with holdings of up to Rs 10,000 or below are in the early stages of their investment journey and are yet to unlock the full potential of trading. The revision in AMC-DP charges will benefit a significant segment of our clientele.”

About Kotak Neo Kotak Neo (Kotak Neo), a subsidiary of Kotak Mahindra Bank, is one of India’s largest full-service stock broking firms catering to retail and institutional investors across all segments of the capital market. Through a tie-up with partner brokers, the company also provides direct access to the US markets. Supported by a strong research team, robust digital trading platform, large branch network & franchisee base, and referral coordinators spread across Kona Kona of India, Kotak Neo processes lakhs of secondary market trades every day. As on 30th September 2021, Kotak Neo has a national footprint of 153 branches, 1332 franchisees and satellite offices across 361 cities in India serving 27 lakh client base. Kotak Neo provides a wide array of services including investment options in equities, derivatives (equities, commodities, currency) and mutual funds. It also offers margin trade funding, depository services and third-party products like insurance.

For more information, please visit the company’s website