HDFC Sec Revised Charges(hidden as Improvement)

VasanSuccess · #1 13th February 2008, 01:29 PM

http://www.hdfcsec.com/Rate_Change/index_view.html

Can any one decode, How the rate is changed, and all services which are offered free(like change password) are being charged.

Can any one tell , what advantage do we get after this upgrade?

jdm · #2 13th February 2008, 01:44 PM

Quote:

Originally Posted by VasanSuccess

http://www.hdfcsec.com/Rate_Change/index_view.html

Can any one decode, How the rate is changed, and all services which are offered free(like change password) are being charged.

Can any one tell , what advantage do we get after this upgrade?

i am not a customer of hdfc, but what i dechiper from the link is

if you forgot your password they will send you a new one (through post like they do) which is gonna cost you 25 bucks. pls remember it is mandatory to change your password every 15 days as per nse rules.

physical contract notes is going to cost you.

they are now passing on the various taxes (tot and stampduty) which previously were included in brokerage.

theres going to be a minimum brokerage clause. i.e. if you buy stocks worth 500 bucks you have to pay brokerage of Rs. 25. i.e. you brokerage amouts to 5% of your transaction value. although the rule of the land says the broker can charge upto 2.5% as brokerage. but then who cares.

cheers ........

debddatta · #3 13th February 2008, 03:47 PM

Hi! I just checked with HDFC Sec Customer Care to confirm that there is no charge for physical contract notes. However, they will charge Rs. 25 for each duplicate contract note!

VasanSuccess · #4 13th February 2008, 05:21 PM

OK, THen, is there any way, That the current brokerage is reduced or increased?

One thing sure is, earlier min brokerage is 15, and now it is 25, so You should trade minimum for 2500 , earlier it was 1500.

They speak about digital delivery, Can i opt and will it reduce my brokerage. Nothing clear, I have to wait and see

debddatta · #5 14th February 2008, 09:35 AM

Quote:

Originally Posted by VasanSuccess

OK, THen, is there any way, That the current brokerage is reduced or increased?

One thing sure is, earlier min brokerage is 15, and now it is 25, so You should trade minimum for 2500 , earlier it was 1500.

They speak about digital delivery, Can i opt and will it reduce my brokerage. Nothing clear, I have to wait and see

If you have registered your correct email address with them, you would automatically get a digital copy of the contract note sent to at the end of every day in addition to the physical copy of the contract. However, none of this affects the brokerage. You have to trade for minimum Rs. 5000 to not end up paying a higher effective brokerage.

magnet · #6 14th February 2008, 05:37 PM

I mailed hdfc got this reply if someone want original mail pm me your email address ill forward u the same

Quote:

BROKERAGE STRUCTURE:

Please be informed that for all the trades, HDFC Securities would charge its customers’ Brokerage, Service Tax & Securities Transactions Tax.

Equity Segment:

(a) Delivery Based Trades:

(i) For securities, whose Current Market Price is above Rs.10.00 per share

Brokerage is 0.5% of the Transaction value subject to a minimum of Rs.25.00 per order, subject to a ceiling of 2.5% of the total traded value plus Service Tax & Securities Transaction Tax @ applicable rates.

(ii) For securities, whose Current Market Price is below Rs.10.00 per share

Brokerage is Rs.0.05 per share, subject to a minimum of Rs.25.00 per order, subject to a ceiling of 2.5% of the total traded value plus Service Tax & Securities Transaction Tax @ applicable rates.

(b) Square-Off Trades – Cash & Carry Segment:

(i) For securities, whose Current Market Price is above Rs.10.00 per share

Brokerage is 0.10% of the Transaction Value, subject to a minimum of Rs.25.00 per order (applicable on both Buy as well as Sell Order), subject to a ceiling of 2.5% of the total traded value plus Service Tax & Securities Transaction Tax @ applicable rates.

(ii) For securities, whose Current Market Price is below Rs.10.00 per share

Brokerage is Rs.0.05 per shares, subject to a minimum of Rs.25.00 per order (applicable on both Buy as well as Sell Order), subject to a ceiling of 2.5% of the total traded value plus Service Tax & Securities Transaction Tax @ applicable rates.

(c) Square-Off Trades – Margin Segment:

(i) For securities, whose Current Market Price is above Rs.10.00 per share

Brokerage is 0.05% of the Transaction Value, subject to a minimum of Rs.25.00 per order (applicable on both Buy as well as Sell Order), subject to a ceiling of 2.5% of the total traded value plus Service Tax & Securities Transaction Tax @ applicable rates.

(ii) For securities, whose Current Market Price is below Rs.10.00 per share

Brokerage is Rs.0.05 per shares, subject to a minimum of Rs.25.00 per order (applicable on both Buy as well as Sell Order), subject to a ceiling of 2.5% of the total traded value plus Service Tax & Securities Transaction Tax @ applicable rates.

Derivates Segment:

(a) Futures Market:

(i) Non-Square Off (Carry Forward) Trades

Brokerage is 0.05% of the Transaction Value or minimum of Rs.25.00 per trade, (applicable on both Buy as well as Sell Order) subject to 2.5% per trade, plus Service Tax & Securities Transaction Tax @ applicable rates.

(ii) Square-Off Trades

Brokerage is 0.025% of the Transaction Value or minimum of Rs.25.00 per trade, (applicable on both Buy as well as Sell Order) subject to 2.5% per trade, plus Service Tax & Securities Transaction Tax @ applicable rates.

(b) Options Market:

Brokerage is higher of 1% of the premium amount or Rs.100 per lot, plus Service Tax & Securities Transaction Tax @ applicable rates.
Service Tax: ***

Service Tax (inclusive of education cess) will be levied @ 12.36%of the Brokerage Value
Securities Transaction Tax: ***

Cash Market:

Securities Transaction Tax on the transactions executed on the Exchange on or after 01st June, 2006 shall be as indicated in Column D below.

Sr.No. Taxable securities transaction Effective rates till 31.05.2006 New rates from 01.06.2006 Payable by
A B C D E
1. Purchase of an equity share in a company or a unit of an equity oriented fund, where –

1. The transaction of such purchase is entered into in a recognised stock exchange; and

(b) The contract for the purchase of such share or unit is settled by the actual delivery or transfer of such share or unit.

0.1 per cent. 0.125 per cent. Purchaser.
2. Sale of an equity share in a company or a unit of an equity oriented fund, where –

1. The transaction of such sale is entered into in a recognised stock exchange; and

(b) The contract for the sale of such share or unit is settled by the actual delivery or transfer of such share or unit.

0.1 per cent. 0.125 per cent. Seller.
3. Sale of an equity share in a company or a unit of an equity oriented fund, where –

1. (a) The transaction of such sale is entered into in a recognised stock exchange; and
2. (b) The contract for the sale of such share or unit is settled otherwise than by the actual delivery or transfer of such share or unit.

0.02 per cent. 0.025 per cent. Seller.

Derivatives Market:

Securities Transaction Tax on the transactions executed on the Exchange on or after 01st June, 2006 shall be as indicated in Column D below.

Sr.No. Taxable securities transaction Effective rate till 31.05.2006 New rate from 01.06.2006 Payable by
A B C D E
1. Sale of a derivative, where the transaction of such sale is entered into in a recognised stock exchange. 0.0133 per cent. 0.017 per cent. Seller.

**** Subject to change as per Government Policies.

Lastly, in our endeavor to help you reap the benefit of happy investing in the Secondary Market, we have introduced Brokerage Rebate Structure. Details of the Structure are available on our website www.hdfcsec.com -> Summary of Service Charges.

VasanSuccess · #7 15th February 2008, 10:25 AM

Great Information, Seems, except for minimum brokerage of 25, Nothing has changed.