This is to inform you that for conversion of the BSDA (Basic Services Demat Account), you will need to fulfill the below conditions:

a. You should not have a BSDA Demat account with another broker or with us (Only 1 BSDA Demat account is acceptable)

b. You should be Sole or the First Holder of Account.

c. Holding Value should be less than 2 Lacs.


AMC for BSDA Account Holders:

a. If Holding is less than 50,000 then AMC will be zero.

b. If Holding is between 50,001 to 2 Lacs, then AMC will be 100 + GST i.e. 118.

c. If Holding is more than 2 Lacs, then AMC will be 150 + GST i.e. 177.

Note: Maintenance charges only apply to accounts opened before August 2021.


If you fulfill both of these conditions, please download, fill and courier us the below forms to convert your Demat account with us to BSDA.

  1. Demat Account Modification Form.

  1. We have attached a BSDA declaration form with this article

Kindly fill the below details in Demat Modification form;

Tick on "CDSL" option

Write Client ID "_________"

Name in the First holder column

Details - BSDA

Addition/Modification/Deletion - Modification

Existing Details - Individual Account

New Details - BSDA Account 

Name and Signature in the First holder column


Kindly follow the below details in BSDA Declaration form;

Write Client ID "_______"

Name in First holder column and Pan number

Signature in First holder column


Once you fill up the form then you can send us on the below mentioned address

Harishchandra Sawant (Upstox)

30th floor, Sunshine Tower,

Senapati Bapat Marg,

Dadar (W),Mumbai : 400013

Ph: +91-22-6130-9999


Once the courier is received, your BSDA Demat account will be activated within 3 - 4 working days. 

If your query is still not resolved, please raise a ticket here.