Account opening is free under SEBI rules. For nil AMC, your holdings need to qualify as a BSDA, which means a value at or below ₹4 lakh. Between ₹4 lakh and ₹10 lakh, AMC is capped at ₹100 a year. Above ₹10 lakh, and on regular accounts, AMC varies by DP and must be disclosed in your client agreement.