Investing in stocks has become much simpler and more convenient with the introduction of Demat accounts. Before their existence, the process of investing in stocks was complicated and cumbersome. A Demat account has brought in ease, transparency, and added value to the overall stock investment process. Let’s delve into the details to understand its significance better.
What is a Demat account?
The term ‘Demat’ refers to dematerialization. In a Demat account, the shares and securities are dematerialized and stored in digital form that enables easy and fast trading from any place. In such a way, it mitigated the likelihood of fraud or thefts associated with paper-based stock trading.
In today’s scenario, having a Demat account is crucial for anyone interested in investing in shares. In 1996, the Securities and Exchange Board of India (SEBI) issued a directive stating that all investors must have a Demat account to participate in share trading. While every stockbroker offers their Demat account to investors, it is important to select the best Demat account in India that offers various features, lower charges, and ensures easy and effective stock trading.
In this post, you will get to know the top 10 Demat accounts in India that are widely preferred by both new and experienced traders and investors. Moreover, it is also necessary to keep in mind that it is not just about choosing the top Demat account in India with excellent reviews and features, but it is primarily about choosing a Demat that can help you achieve your trading objectives.
Top 10 Demat Accounts in India
So, let’s look at the top 10 Demat accounts in India that you can consider going with.
| S.No | Stockbroker | Demat Account Opening Charges | Demat Account Maintenance Charges (AMC) |
| 1 | Upstox | Zero | Nill for first year, 150 from next year onwards |
| 2 | Zerodha | Zero | Rs. 300 |
| 3 | Axis Direct | 999 | Rs. 650 Annually (no cost for 1st year) |
| 4 | Angel One | Zero | Rs. 240 |
| 5 | ICICIdirect | Zero | Rs. 300 (no charge for the 1st year) |
| 6 | IIFL Securities | Zero | Rs. 250 (Free for the 1st year) |
| 7 | Sharekhan | Zero | Rs. 300 (No charge first 3 years) |
| 8 | HDFC Securities | Zero | Rs. 750 |
| 9 | Kotak Securities | Zero | Rs. 600 |
| 10 | 5Paisa | Zero | Rs. 300 |
1. Upstox Demat Account
Based out of Mumbai, Upstox is among the top stock brokers in India. Earlier known as RKSV Securities, Upstox offers a single platform to invest in mutual funds, stocks, digital gold, futures, and others under one umbrella. Apart from enabling easy and quick Demat account services in India, Upstox also offers advanced mobile and desktop trading platforms for all types of traders and investors. Opening a Demat account with Upstox is completely paperless and instant.
Trading Account Opening Charges – 0
Demat Account Opening Charges – 0
Trading Account Maintenance Charges – 0
Demat Account Maintenance Charges (AMC) – 0 for the first year and Rs. 150 from next year onwards
Demat debit transaction charge is Rs. 13 + Rs. 5.50 (CDSL charges) per scrip.
Some salient features of opening a Demat account with Upstox are:
- Maximum Rs. 20 per executed trade for non-delivery trading
- 0 commission on delivery trades and mutual funds
- Open free Demat account
- Zero-cost Demat account opening and reasonable account maintenance charges
- High-tech trading platform – Upstox Pro
- 3-in-1 account feature for IndusInd Bank Savings Account Holders
The brokerage charges by Upstox are:
| Segment | Upstox Brokerage Charges |
| Equity Intraday | Rs 20/order or 0.05% whichever is lower |
| Equity Delivery | No Brokerage |
| Equity Futures | Rs 20/order or 0.05% whichever is lower |
| Equity Options | Rs 20/order |
| Currency Futures | Rs 20/order or 0.05% whichever is lower |
| Currency Options | Rs 20/order or 0.05% whichever is lower |
| Commodities | Rs 20/order or 0.05% whichever is lower |
2. Zerodha Demat Account
Zerodha has more than 10 million clients and is recognized for providing the top Demat account in India, along with discounted brokerage services. With Zerodha, you can open a trading and depository account, giving you access to real-time market data, detailed charts, and other tools that can assist you in making wise investment decisions.
Started as the first discount brokerage firm in India, Zerodha has come a long way by offering best-in-class stock trading services to traders and investors. Zerodha is primarily known for zero brokerage for delivery based trading. Zerodha also has excellent customer service which is another why most investors prefer it when considering Zerodha account opening to establish the best Demat account in India.
Some wonderful features of Zerodha Demat Account are:
- Best-in-class customer support
- Advanced market research tools
- User-centric stock trading platforms like Kite by Zerodha
- Discount brokerage plans
- No brokerage charges for equity delivery
- Automatic credit of dividends
- Open Demat account for free
- Dedicated learning platform – Zerodha Varsity
- All-new mutual funds investment platform – Coin
- 3-in-1 account opening feature
Trading Account Opening Charges – Rs. 200
Demat Account Opening Charges – 0
Trading Account Maintenance Charges – 0
Demat Account Maintenance Charges (AMC) – Rs. 300
Zerodha demat debit transaction charges are:
- Market Trades: ₹13.5 + GST
- Off-Market Trades: 0.03% of ₹25 whichever is higher + GST
Zerodha Brokerage:
| Segment | Brokerage Charges |
| Monthly Fee (Fixed) | |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Rs 20 per executed order or .03% whichever is lower |
| Equity Futures | Rs 20 per executed order or .03% whichever is lower |
| Equity Options | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order or .03% whichever is lower |
| Currency Options | Rs 20 per executed order or .03% whichever is lower |
| Commodity Futures | Rs 20 per executed order or .03% whichever is lower |
| Commodity Options | Rs 20 per executed order or .03% whichever is lower |
3. Axis Direct Demat Account
Axis Direct is a top full-service stockbroker in India and provides the best Demat account. The Axis Direct account allows you to diversify your assets by consolidating all investment options in one place. The Demat system makes it easy to transfer shares from physical to electronic holdings, settle trades, and manage your investment portfolio. With the best Demat account in India, you have access to everything necessary for stock trading, including financial education, market data, quality research, and useful tools.
The major benefits of trading with Axis Direct are:
- No AMC for 1st year
- Easy trading in stocks, bonds, mutual funds, ETFs, derivatives, and other financial products
- 3-in-1 account including savings account, trading account, and Demat account
- Insightful stock trading educational content
- A huge repository of useful online courses, webinars, and articles
- Online funds transfer
- Open free Demat account
- Brokerage-free equity delivery trading
- Just Rs. 20 for F&O, and Intraday trading
- A wide range of financial products under one umbrella
With an Axis Direct Demat account, one can invest in mutual funds, IPOs, derivatives, equities, bonds, ETFs, and others. Axis Direct offers a 3-in-1 account.
3-in-1 Account Opening Charges – Rs. 999
Demat Account Opening Charges – 0
Demat Account Maintenance Charges – Rs. 650 Annually (no cost for 1st year)
AxisDirect demat debit transaction charges are given below:
- Retail Account: 0.04% of the value of the transaction (Min Rs 25 per instruction) whichever is higher. Rs 25 flat per instruction for mutual fund units.
- BSDA Account: 0.06% of the value of the transaction (Min Rs 50 per instruction) whichever is higher. Rs 50 flat per instruction for mutual fund units.
- Corporate Account: 0.04% subject to minimum of Rs 23 per instruction.
The brokerage charges of Axis Direct are as below:
| Segment | Brokerage Charges |
| Equity Delivery | 0.50% (Each Leg) |
| Equity Intraday | 0.05% (Each Leg) |
| Equity Future | 0.05% (Each Leg) |
| Equity Options | Intraday: Rs 0.01 per lot | Carry Forward: Rs 10 per lot |
| Currency Futures | 0.05% (Each Leg) |
| Currency Options | Intraday: Rs 0.01 per lot | Carry Forward: Rs 10 per lot |
| Commodity Futures | 0.03% (Each Leg) |
| Commodity Options | Rs 50 per lot |
4. Angel One Demat Account
Previously known as Angel Broking, Angel One is one of the top-rated stockbrokers in India and offers a plethora of financial products along with the top Demat account in India. It is also one of the oldest stockbrokers in the country with its establishment in 1987. The stock broking firm allows traders and investors to invest in currencies, equities, IPOs, commodities, mutual funds, and futures & options.
Angel One also has an excellent network of branches and sub-brokers that are actively present in all major cities of India. Angel One is renowned for its top-notch trading platforms and investing guidance. Angel is the first sizable full-service broker to give its clients discounted brokerage prices.
Angel One Features:
- Free of cost trading platforms to work on
- 0 cost research and advisory for all clients
- Flat brokerage ‘Angel iTrade PRIME’
- Fixed Rs. 20 brokerage for trading across all segments including F&O, Intraday, Currencies, and Commodities
- Angel ARQ, a rule-based investment engine which offers investment suggestions to traders and investors
- Loan facility
- No charges on fund transfer
- Open free Demat account
- Option to call RM in case of problems
- Bonus issues, right shares, or stock division are automatically refreshed in the Demat account
- Availability of training and hand-holding to new investors
- Margin trading service
- Availability of security as collateral feature
Trading Account Opening Charges – Rs. 0
Demat Account Opening Charges – 0
Trading Account Maintenance Charges – 0
Demat Account Maintenance Charges (AMC) – Rs. 240
The demat debit transaction charge is Rs 20 per ISIN (Rs 50 per ISIN for BSDA Client) per debit transaction.
The brokerage under iTrade PRIME are:
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Rs 20 per executed order |
| Equity Futures | Rs 20 per executed order |
| Equity Options | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order |
| Currency Options | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order |
| Commodity Options | Rs 20 per executed order |
5. ICICI Direct Demat Account
ICICIdirect, supported by the ICICI group, is a major retail stockbroker in India. They offer various services, including equity, commodity, and currency trading on BSE, NSE, and MCX. In addition to stock trading, ICICIdirect provides wealth products, home loans, loans against securities, fixed deposits, bonds, NCDs, mutual funds, and initial public offerings. The ICICI Direct Demat account is known for being secure, user-friendly, and accessible online for trading and investing in the Indian stock market.
The most prominent feature of ICICIdirect is its 3-in-1 account, which is inclusive of an ICICI Bank account, a Trading account, and the best Demat account in India. ICICIdirect offers different brokerage plans – Neo Plan, I-Secure Plan, ICICIdirect Prime Plan, and Lifetime Prepaid Brokerage Plan.
Pros of ICICIdirect
- Free account opening
- No brokerage on equity futures trading
- 0 cost stock trading tips and recommendations
- 3-in-1 account for a quick and easy trading experience to traders and investors
- Option to invest in IPOs, Mutual Funds, Public Bonds, Postal Savings Schemes, and even Insurance.
- Availability of low-bandwidth trading portal for slower internet connection
- ‘myGTC Orders’ feature which allows a trader to specify the date until when the order will remain valid. GTC refers to ‘Good Till Cancel’.
- Demat account holders will earn 3.5% interest on money available in their account
- SMS alerts
- Open Demat account for free
- Digital account statement on a monthly statement
- eATM or Equity ATM – investors can receive funds of up to Rs. 50K per day within half hour of order execution
Trading Account Opening Charges – Rs. 0
Demat Account Opening Charges – 0
Trading Account Maintenance Charges – 0
Demat Account Maintenance Charges (AMC) – Rs. 300 (no charge for the 1st year)
ICICIdirect demat debit transaction charge is
- 04% of trans value for each CID subject to minimum ₹30 (For Normal Market & Off Market sell)
- 04% of trans value for each CID)(subject to minimum ₹30 & maximum ₹25,000 (For Debt instruments Market & Off Market sell)
The brokerage charges of ICICIdirect’s Neo Plan are:
| Segment | Brokerage |
| Equity Delivery | 0.55% |
| Equity Intraday | Rs 20 per executed order |
| Equity Future | Rs 0 (Free) |
| Equity Options | Rs 20 per executed order |
| Currency F&O | Rs 20 per executed order |
| Commodity F&O | Rs 20 per executed order |
| NCDs / Bonds | 0.75% |
6. IIFL Securities Demat Account
Set up in 1995, IIFL Securities is one of the most reliable full-service stockbrokers in India. A part of IIFL Group, IIFL Securities provides web-based trading and research-based advisory services for a wide selection of products as Stocks, Derivatives, Commodities, Loans, Insurance, FDs, Bonds, IPOs, etc.
IIFL Securities has both trading and Demat accounts to enable traders and investors to trade online and offline across BSE, NSE, MCX, and NCDEX. IIFL Demat Account Opening can be done both as offline due to an excellent branch network.
Features of IIFL Securities’ Top Demat Account in India
- Completely digital and fast Demat account opening that is free
- Flat Rs. 20 brokerage for intraday, delivery, and F&O
- 0 cost equity and mutual fund research services
- Hi-tech and user-friendly mobile trading platform
- Option to freeze the Demat account
- Branch-based support for quicker issue resolution
- Equity SIP plan which is one of its kind
- Dedicated Relationship Manager (RM) for physical trading advisory and support
- Advanced order type such as Valid Till Date (VTD) order
- A wide range of financial products like bonds, stocks, mutual funds, derivatives, corporate fixed deposits, and insurance
Trading Account Opening Charges – Rs. 0
Demat Account Opening Charges – 0
Trading Account Maintenance Charges – 0
Demat Account Maintenance Charges (AMC) – Rs. 250 (Free for the 1st year)
IIFL Securities demat debit transaction charge – Rs ₹25 per debit transaction per debit transaction.
| Category | Brokerage |
| Monthly Fee (Fixed) | NA |
| Equity Delivery | Rs 20 per order |
| Equity Intraday | Rs 20 per order |
| Equity Futures | Rs 20 per order |
| Equity Options | Rs 20 per order |
| Currency Futures | Rs 20 per order |
| Currency Options | Rs 20 per order |
| Commodity Futures | Rs 20 per order |
| Commodity Options | Rs 20 per order |
7. Sharekhan Demat Account
Sharekhan, a Mumbai-based full-service stockbroking firm founded in 2000, is a registered trading member of the BSE, NSE, and MCX. The broker offers margin trading services in addition to allowing trading in stocks, derivatives, commodities, currencies, IPOs, and mutual funds. The broker caters to all types of clients, including retail traders, investors, NRIs, businesses, and institutions.
The full-service broker features a volume-based pricing system that has a fixed percentage of brokerage fee on all trading categories. Opening the best Demat account in India with Sharekhan is quick and easy.
Features of Sharekhan Demat Account
- Different brokerage brackets to meet investors’ diverse needs
- Free call & trade service
- Highly advanced training, seminars, and workshops
- Fixed deposits can be used as collateral for future and options trading
- Option to link up to 5 Demat accounts to trading account
- No charges for online funds transfer
- Excellent customer support
Trading Account Opening Charges – Rs. 0
Demat Account Opening Charges – 0
Trading Account Maintenance Charges – 0
Demat Account Maintenance Charges (AMC) – Rs. 300 (No charge first 3 years)
The demat debit transaction charge by Sharekhan’s top Demat account in India are as below:
- Scheme A & B: Sales through Sharekhan: Rs 0 Else 0.03% of value of tran(min Rs 30),
- Scheme C & D: Sales through Sharekhan Rs 6 Per tran Else 0.03% of value of tran(min Rs 30),
- Scheme E & H: Sales through Sharekhan 0.03% of value of tran (E:min Rs
- 29,H:min Rs 30) Else 0.03% of value of tran(min Rs 49),
- Scheme F: 0.03% of value of tran(min Rs 30),
- Scheme G: 0.03% of value of tran(min Rs 49)
The brokerage charges of Sharekhan are as below:
| Category | Brokerage Charges |
| Monthly Fee (Fixed) | |
| Equity Delivery | 0.50% |
| Equity Intraday | 0.10% |
| Equity Futures | 0.10% |
| Equity Options | Rs 50 per lot |
| Currency Futures | 0.10% |
| Currency Options | Rs 30 per lot |
| Commodity Futures | 0.03% |
| Commodity Options | 0.03% |
8. HDFC Securities Demat Account
Launched in 2000, HDFC Securities is one of the leading full-service stock brokers in India and is registered by SEBI. It is also a member of NSE, BSE, MCX, NSDL, and CDSL. Being a subsidiary of HDFC Bank, the stockbroking firm allows its customers to trade and invest in bonds, shares, futures, options, buybacks, IPOs, mutual funds, commodities, currency derivatives, stock portfolios, etc.
HDFC Securities offers the most affordable brokerage, charging Rs 20 per transaction for derivative trading and 0.10% per deal for equity delivery. With HDFC Securities’ 3-in-1 account, you get a combined package that includes trading, a savings bank account, and the best Demat account from HDFC in India.
Features of HDFC Securities’ Top Demat Account in India
- Faster, digital account opening procedure
- Lowest brokerage of 0.01% per order for equity delivery
- Relationship manager facility
- Availability of margin trading
- Detailed portfolio monitoring
- Various trading platforms to choose from
- Different brokerage plans
- Zero commission on mutual funds investment
- 3-in-1 account opening
Trading Account Opening Charges – Rs. 999
Demat Account Opening Charges – 0
Trading Account Maintenance Charges – 0
Demat Account Maintenance Charges (AMC) – Rs. 750
The debit transaction charges are:
- 04% of the value of txn subj to min Rs 20 per txn done by EASIEST. For BSDA a/c it’s 0.06%, Min Rs 40
- 04% of the value of txn subj to Min Rs 25 per txn done by HDFC securities. For BSDA a/c It’s 0.06%, Min Rs 45
- 04% of the value of txn subj to Min Rs 40 per txn undertaken by Manual txn. For BSDA a/c it’s 0.06%, Min Rs 60
- For Debt txn 0.04% of the value of txn subj to Min Rs 40 & Max Rs 5,000 per txn. For BSDA a/c it’s 0.06%, Min Rs 60 & Max Rs 5,000
- If instruction is submitted on the date of execution then 0.25% of the value of txn subj to Min Rs 25 per debit transaction.
The brokerage is:
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | Rs 199 per year |
| Equity Delivery | 0.32% |
| Equity Intraday | 0.032% |
| Equity Futures | Rs 20 per trade |
| Equity Options | Rs 20 per trade |
| Currency Futures | |
| Currency Options | |
| Commodity Futures | |
| Commodity Options |
9. Kotak Securities Demat Account
Kotak Securities Ltd., an Indian full-service stock broker founded in 1994, provides retail investors with a 3-in-1 account (Bank + Trading + Demat Account). It provides investing opportunities in stocks, mutual funds, and derivatives (stocks, commodities, and currencies). Moreover, it provides third-party goods including insurance, research, margin trade finance, depository services, and portfolio management services (PMS). Moreover, the business offers direct access to American markets.
Features of Kotak Securities Demat Account:
- A wide range of financial products from equity to options, mutual funds, derivatives, etc
- Invest in US stocks
- Enables regular alerts, research reports, stock suggestions, market indices, and others
- NRIs can also open the account
- Customer support available on call and email
- 3-in-1 account
- Different brokerage plans
- Auto credit of dividend in the registered bank account
Trading Account Opening Charges – Rs. 999
Demat Account Opening Charges – 0
Trading Account Maintenance Charges – 0
Demat Account Maintenance Charges (AMC) – Rs. 600
Kotak Securities demat debit transaction charge are Rs 0.04% + NSDL charges (minimum Rs 20) per debit transaction.
The brokerage charges are:
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | |
| Equity Delivery | 0.25% (Minimum Rs 20 per trade) |
| Equity Intraday | Free |
| Equity Futures | Delivery: Rs 20 per trade | Intraday: Free |
| Equity Options | Delivery: Rs 20 per trade | Intraday: Free |
| Currency Futures | Delivery: Rs 20 per trade | Intraday: Free |
| Currency Options | Delivery: Rs 20 per trade | Intraday: Free |
| Commodity Futures | Delivery: Rs 20 per trade | Intraday: Free |
| Commodity Options | Delivery: Rs 20 per trade | Intraday: Free |
10. 5Paisa Demat Account
5Paisa is one of the best discount stockbrokers in India and offers to trade in equity, commodity, and currency across BSE, NSE, and MCX. The stockbroker charges a flat brokerage of Rs. 20 regardless of the order size, category, and exchange.
There are three subscription plans offered by 5Paisa – Basic Pack, Power Investor Pack, and Ultra Trader Pack. All these plans are loaded with different benefits from Zero Account opening charges to Flat fees decreasing from Rs. 20 to Rs. 10.
5Paisa’s Best Demat Account in India – Salient Features:
- Perfectly integrated with all trading applications.
- Keep Mutual Funds in the same demat account.
- Simple and fast online and offline transfer of shares.
- Option to freeze the demat account for a specific period to avoid misuse.
- Access Demat account via the website, mobile trading app, website, and desktop trading app.
- Direct deposit of dividends in a linked bank account.
- Bonus issues, right shares, or stock split are automatically updated in the Demat Account.
Trading Account Opening Charges – Rs. 999
Demat Account Opening Charges – 0
Trading Account Maintenance Charges – 0
Demat Account Maintenance Charges (AMC) – Rs. 300
Debit transaction charge of 0.025% (at least Rs 25 per Debit transaction).
The brokerage is defined below:
| Category | Brokerage Charge |
| Monthly Fee (Fixed) | NA |
| Equity Delivery | Rs. 20 per executed order |
| Equity Intraday | Rs. 20 per executed order |
| Equity Futures | Rs. 20 per executed order |
| Equity Options | Rs. 20 per executed order |
| Currency Futures | Rs. 20 per executed order |
| Currency Options | Rs. 20 per executed order |
| Commodity Futures | Rs. 20 per executed order |
| Commodity Options | Rs. 20 per executed order |
FAQs
What is a Demat account?
Demat accounts, also known as dematerialization accounts, are meant to ease the process of holding investments such as shares, bonds, government securities, mutual funds, insurance, and exchange-traded funds (ETFs), by eliminating the hassles of handling and maintaining paper shares and related documents physically.
Is it necessary to have a nominee in a Demat account?
According to SEBI guidelines, it is necessary for every Demat account holder to keep a nominee in the account.
What are some of the top Demat account service providers in India?
Some of the best Demat accounts in India are provided by the following stockbrokers:
- SBICAP Securities Demat Account.
- HDFC Securities Demat Account.
- Upstox Demat Account.
- ICICI Direct Demat Account.
- Sharekhan Demat Account.
- Kotak Securities Demat Account.
- Zerodha Demat Account.
- IIFL Demat Account.
Do I need to pay any monthly charge for Demat account?
You will be required to pay an annual maintenance cost (AMC) for your Demat Account in addition to the Demat account opening charges. The sum will vary depending on the Directory Participant and the total cost of your annual transactions.
Which stockbroker’s Demat account is best for trading?
At present, Upstox Demat account is considered the best Demat account in India. Besides offering best-in-class features, lowest brokerage, and excellent customer support.
Can I withdraw the amount from my Demat account?
Demat accounts is meant to hold the shares in electronic format. To withdraw the funds, you would have to use trading account which acts as a link between your Demat and Savings account.
How much time it takes to open a Demat account?
Today, most stockbroker offers digital account opening services which means one can open a Demat account quickly and easily. Sometimes, it takes even a few minutes to open a Demat account.
What are the documents required to open a Demat account?
One may need to provide a few documents to open a DEMAT account. They are:
Identity Proof: A copy of your PAN Card.
Address Proof: You may submit any one of the documents listed below.
- Voter’s ID
- Driver’s License
- Passport
- Aadhaar Card
Income Proof: You must submit
- A copy of your passbook
- Bank account statements for the last 6 months
- Latest salary slips
- Filed Income tax returns
The Conclusion
If you’re searching for the best Demat account in India or the top 10 options for an excellent stock trading experience, it’s highly recommended to research thoroughly on the leading stockbrokers in India and their Demat accounts before making any decisions. Additionally, consulting with the best stock advisor in India can provide valuable insights. The total amount you pay for maintaining your Demat account includes costs and other charges, so it’s essential to keep a close eye on those factors.