A demat account (dematerialisation account) enables buying and selling shares, bonds, government securities, mutual funds and ETFs seamlessly and securely. It does away with the risks of handling and maintaining physical shares and documents.
Find out the top demat accounts available in India to help you choose the one that suits you the most.
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Featured Partners
1
BlackBull Markets
Multiple Award-Winning Broker
Listed On Deloitte Fast 50 index, 2022 Best Global FX Broker – ForexExpo Dubai October 2022 & more
Best-In-Class for Offering of Investments
Trade 26,000+ assets with no minimum deposit
Customer Support
24/7 dedicated support & easy to sign up
On BlackBull Market’s secure website
2
Aditya Birla Demat Account
Charges
Zero account opening charges
Features
Invest in Stocks, Mutual Fund, IPO and Bonds
Benefits
Trusted ABML analysts to guide your trading decisions, Get expert stock recommendations and Market Screeners
On Aditya Birla’s secure website
5 Best Demat Account in India
- Zerodha
- Upstox
- Kotak Securities
- ICICI Direct
- Groww
Best Demat Account In India
FEATURED PARTNER OFFER
Zerodha
4.7
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Account Opening Charges
INR 200
Annual Maintenance Charge
INR 300
Brokerage
No brokerage for equity delivery Equity intraday: INR 20/order or 0.03%, whichever is lower
Account Opening Charges
Annual Maintenance Charge
INR 300
Brokerage
No brokerage for equity delivery Equity intraday: INR 20/order or 0.03%, whichever is lower
Pros & Cons
- Zero brokerage for equity delivery trades
- Low brokerage for other segments
- Direct mutual fund investments via Coin
- High account opening charge
- Covers only the Indian market
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Upstox
4.6
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Account Opening Charges
INR 249
Annual Maintenance Charge
INR 150
Brokerage
Equity Intraday: INR 20/order or 0.05% whichever is lower Equity Delivery: No brokerage
Account Opening Charges
INR 249
Annual Maintenance Charge
INR 150
Brokerage
Equity Intraday: INR 20/order or 0.05% whichever is lower Equity Delivery: No brokerage
Pros & Cons
- Zero asset management charges
- Zero account opening charges
- Allows trading from any location in the world
- NRIs and Hindu Undivided Families (HUFs) cannot open an online account
- Additional charges are applied if intraday orders are not squared off by users
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Kotak Securities
4.5
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Account Opening Charges
INR 0
Annual Maintenance Charge
INR 600
Brokerage
INR 0 for people under the age of 30 INR 0 for intraday trades for people above 30 years of age Equity Delivery: 0.25%
Account Opening Charges
INR 0
Annual Maintenance Charge
INR 600
Brokerage
INR 0 for people under the age of 30 INR 0 for intraday trades for people above 30 years of age Equity Delivery: 0.25%
Pros & Cons
- 3-in-1 trading, savings and demat account
- Market analysis and recommendations
- Margin trading facility
- High equity delivery brokerage charges of 0.25%
- Dealer-assisted brokerage plans are expensive
- Brokerage is better for people under 30 years of age
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ICICI Direct
4.4
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Account Opening Charges
INR 0
Annual Maintenance Charge
INR 300
Brokerage
INR 0 futures trading charges INR 20 options and intraday trading INR 20 commodities and currency derivative
Account Opening Charges
INR 0
Annual Maintenance Charge
INR 300
Brokerage
INR 0 futures trading charges INR 20 options and intraday trading INR 20 commodities and currency derivative
Pros & Cons
- Full-service broker
- Market insights and market research
- No minimum balance required
- High annual maintenance charge
FEATURED PARTNER OFFER
Groww
4.3
Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.
Account Opening Charges
INR 0
Annual Maintenance Charge
INR 0
Brokerage
Equity Delivery: 0.05% Equity Intraday: 0.05%
Account Opening Charges
INR 0
Annual Maintenance Charge
INR 0
Brokerage
Equity Delivery: 0.05% Equity Intraday: 0.05%
Pros & Cons
- No account opening charges
- No maintenance charges
- Instant online account opening process
- Allows for purchase of U.S. equities, ETSs and FDs
- Does not allow trading in commodities and currency
- No research reports and market analysis offered on stock trading
Comparison of Best Demat Accounts
| Demat Account | Company – Logo | Forbes Advisor India Rating | Forbes Advisor Rating | Account Opening Charges | Annual Maintenance Charge | Brokerage | Learn More CTA text | Learn more CTA below text | Learn More |
|---|---|---|---|---|---|---|---|---|---|
| Zerodha |  | 4.7 |  | INR 200 | INR 300 | No brokerage for equity delivery Equity intraday: INR 20/order or 0.03%, whichever is lower | View More | ||
| Upstox |  | 4.6 | | INR 249 | INR 150 | Equity Intraday: INR 20/order or 0.05% whichever is lower Equity Delivery: No brokerage | View More | ||
| Kotak Securities |  | 4.5 | | INR 0 | INR 600 | INR 0 for people under the age of 30 INR 0 for intraday trades for people above 30 years of age Equity Delivery: 0.25% | View More | ||
| ICICI Direct |  | 4.4 | | INR 0 | INR 300 | INR 0 futures trading charges INR 20 options and intraday trading INR 20 commodities and currency derivative | View More | ||
| Groww |  | 4.3 | | INR 0 | INR 0 | Equity Delivery: 0.05% Equity Intraday: 0.05% | View More |
Best Demat Accounts with Low Brokerage Banks
Kotak Securities
Kotak Securities offers you a 3-in-1 savings, trading and Demat account. The account has a margin trading facility and provides analysis and recommendations for trades. The account is particularly beneficial for small investors. Kotak Securities offers 0 brokerages on intraday trades, INR 20 per order for carrying forward F&O trades, and 0.25% charges for equity and commodity delivery.
ICICI Direct
ICICI Direct is a good bet for low-volume traders. It’s also a good demat account for existing ICICI bank customers, The interface is customisable as per user needs, giving it an edge over most other accounts. There are several plans offered and users can again choose whatever fits their bill the best.
It’s worth noting here that ICICI is a full-service broker which allows investing in fractional shares in the global market and provides advisory services to its users/clients.
Trading Companies
Zerodha
Zerodha offers users with advanced charts and also has a learning app called Zerodha Varsity. The platform helps users in trading and also in doing their research. Additionally, there is a Zerodha app called Coin that can help in trading mutual funds directly.
Upstox
This is more in the category of Zerodha. It provides a 3-in-2 account with demat, savings and trading accounts. One of the biggest strengths the account has is the zero annual maintenance charges and account opening charges. The account also allows trading from anywhere in the world.
It’s noteworthy here that non-resident Indians and HUDs can open an account with Upstox by filling up forms and sending them to the company. They do have the convenience of opening an online account.
Groww
Groww’s app can be downloaded for free and an account can be opened with zero maintenance charges. There are no hidden fees. Groww’s demat account has one of the most transparent pricing policies.
It’s also important to make a note here that while there are no transaction costs on Groww, brokerage and taxes have to be paid for stocks. The company charges a flat fee for stock trades.
Featured Partners
1
BlackBull Markets
Multiple Award-Winning Broker
Listed On Deloitte Fast 50 index, 2022 Best Global FX Broker – ForexExpo Dubai October 2022 & more
Best-In-Class for Offering of Investments
Trade 26,000+ assets with no minimum deposit
Customer Support
24/7 dedicated support & easy to sign up
On BlackBull Market’s secure website
2
Aditya Birla Demat Account
Charges
Zero account opening charges
Features
Invest in Stocks, Mutual Fund, IPO and Bonds
Benefits
Trusted ABML analysts to guide your trading decisions, Get expert stock recommendations and Market Screeners
On Aditya Birla’s secure website
Which bank’s demat account has the lowest brokerage?
ICICI Direct charges nothing for futures trading. Kotak Securities offers zero brokerage trades to people under the age of 30. The bank also offers 0 brokerage for intraday trades even for people over 30. However, it charges 0.25% for equity delivery. It’s usually worth going through different brokerage plans provided by these accounts to ensure you pick one that fits your bill perfectly.
Can I open a demat account for free?
Yes, several demat accounts can be opened for free, such as Kotak Securities demat account and Groww account.
Bottom Line
There are a host of demat account options available in India and most good accounts also provide traders with enviable features such as e-learning options, low brokerage and advanced tools such as charts for analysis. However, only some features are useful for some traders. Preferences for accounts would change based on the type of trading done and specific individual needs.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
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