A Demat account is an absolute necessity when you want to start stock market investment. There are two depositories in the Indian share market: NSDL and CDSL, where you can open your Government demat account. But a lot of individuals often wonder what will they be charged for it. Therefore, in this article, we will talk about the NSDL Demat account charges.
But wait, is NSDL the primary depository for all the stockbrokers of the country?
The answer is NO. By NSDL demat account it means that all the depository participants (stockbrokers) registered with NSDL.
So, when you are opening a Demat account with NSDL, it is basically opening an account with a stockbroker registered with NSDL. And when you do that, you are assigned with an NSDL Demat Account Number as well.
So, let’s begin!
NSDL Demat Account Opening Charges
Since you cannot directly open a demat with NSDL, it is obvious that you are not directly paying them either. So all the charges are charged by the depository participants and not by NSDL.
All the stockbrokers are therefore allowed to have their own structure and scheme for charging their clients.
A lot of stockbrokers are registered with NSDL and have a varied range of demat account opening charges. Let us have a look at some of them registered with NSDL.
Zerodha is a niche in the discount broking world and has always led that domain. This has raised a lot of interest among the investors to start a Zerodha demat account. But the question is what are the opening charges?
So, unlike a lot of leading stockbrokers in the industry, the account opening of Zerodha is not free. You have to pay ₹200 for the account opening. But if you want to actively trade in commoditiesas well, you need to pay an additional ₹100, if you are opening a Demat account online.
Just in case you want to go for the offline account opening, you have to spare ₹200 for getting your commodity segment activated.
Angel Broking is another leading stockbroker in the country. Over the years it has made sure that the clients get the best user experience and also keep up with the pace with the technologically advancing industry.
With all these services, it also lets a user open an Angel One Demat Accountabsolutely free of cost because there are no account opening charges of Angel One.
There is a common myth that a lot of full-service brokers are responsible for charging their clients an extra amount. But Choice Broking however being a full-service broker has minimal brokerages and other charges.
This is applicable for the account opening charges as well. The broker offers you an absolutely free demat account opening facility and that too in some simple steps.
Bank-based stockbrokers have always been a favourite and the most trusted stockbrokers in the industry. The name HDFC also goes along with it.
HDFC Securities offers a great trading experience to its users and at a good price. HDFC Securities offers four different types of demat accounts to its users and the opening charges also depend on the same.
While the basic, preferred, and imperia account to offer a free Demat account opening but the opening charge of the classic Demat account is ₹750 because of a requirement of less transactional balance. So usually the beginners opt for this plan.
Kotak Securities is another bank-based stockbroker that has come up with great pricing including the Kotak Trade Smart plan with absolutely free intraday trading. It offers you a KotakTrinity accountand also a 2-in-1 account.
Zerodha as we discussed earlier has created a niche in the stock market industry. A lot of people are drawn towards it because of the great prices and services that it has to offer.
They also charge an annual maintenance charge so that no one has to face any issues with their Demat account. The annual maintenance charges of Zerodha are ₹300 and you have to start paying it from the first year onwards.
Choice Broking is a full-service broker and gives its user a choice to select an AMC plan according to their
own needs. There are three different AMC plans for Choice Broking starting from ₹200/year to ₹3000.
There are different perks associated with each one of them. These charges are not levied in the first year and start from the second year onwards.
If you pay ₹200+GST, this is a yearly plan. Apart from this if you want to have a lifetime AMC plan, you can pay ₹1500+GST. There is another option of refundable AMC in Choice Broking. If you pay ₹3000, then at the time you decide to close your Choice Broking demat account, your money will be refunded to you.
Choice Broking AMC Charges
Second Year Onwards
₹200+GST (yearly plan)
₹3000+GST (Refundable,this AMC is refunded to the trader once he/she decides to close their account)
There are various bank-based stockbrokers in the stock exchanges and one of them is the HDFC Securities. If you have an HDFC Demat account, you will be charged ₹750 as the annual maintenance charges per annum from the very first year.
Kotak Securities is nowhere behind in catching the train to compete with almost all the stockbrokers in the industry. They have also shifted from the annual charges to charging the account maintenance charges every month.
So if you have a Kotak Demat Account, you will have to pay ₹50/ month as the AMC charges.
Kotak Securities AMC Charges
₹50 per month
When we talk of the NSDL demat account charges, we are talking of the demat accounts with the stockbrokers registered with NSDL. Now the depositories give full right to the stockbrokers or the depository participants to choose a flexible and a charge range of their choice.
So the NSDL demat account charges can range anywhere from 0-₹700 or 1000. When talking about the NSDL demat account charges, it is also important to note that there are some annual charges as well that can range from ₹200/year- ₹1000/year.
If you want to start your stock market journey, open your Demat account today.
Now get assistance in choosing the right stockbroker, fill the form below and we will help you in choosing the right stockbroker for you.