Demat Account For Free
More on Demat Account
Who doesn’t like freebies? For a trader, if you get the chance to open an account without paying any fees, wouldn’t that bring a big smile to your face. So here comes a question can you have a Demat Account for Free?
Here the thing that one needs to know is that the Demat account is provided, maintained, and operated by depositories i.e. CDSL and NSDL.
Whatever charges are imposed on your Demat account is decided by these depositories, but further, the registered stockbrokers are free to charge their clients accordingly in order to increase their benefits.
So, when it comes to opening a demat account for FREE, it totally depends upon your choice of a stockbroker.
Without any further delay let’s move ahead with the opening process, charges associated with opening a demat account for free.
Free Demat Account Opening
To open a demat account for free what is more important? To choose the stockbroker offering the best services at zero cost.
Here zero cost is only limited to the account opening. Other than this, there are many other charges like AMC fees and trading charges, that one must consider and compare before opening an account with the stockbroker.
Stockbrokers are of three different types (full service, discount, and bank-based stockbroker) in the stock market that are categorized on the basis of products and services they offer.
Depending upon your trading knowledge, experience and requirements you can choose the stockbroker that meets your maximum requirements.
Now whichever stockbroker you choose, you can open a demat account online.
Open Demat Account Online Free
In this tech-savvy world where every other individual is used to technology and therefore finds it convenient too to open a Demat account online.
So, if you are the one looking for free Demat account then here are the steps to be followed:
- Open the website of the stockbroker and click on the link ‘Open a Demat Account.’
- Begin by entering your mobile number and verifying the same with OTP.
- Now enter your PAN card and proceed ahead by uploading the same.
- Further for KYC you can log in to the Digilocker and providing the access to read all the documents.
- Now enter some more details like occupation, annual income, etc.
- Select the trading segment in which you want to trade and choose the brokerage plan if provided.
- Proceed towards the step of e-sign where you are directed towards the NSDL page.
- The last step is the in-person verification where one needs to upload a video of a few seconds.
On verification, the account gets activated in few minutes.
Free Demat Account Charges
Since we are talking about opening then you might be wondering why we are discussing the charges?
So here it is important to note that different charges are imposed on your Demat account like:
Here the opening charges are of course zero but what about the AMC. Is there any benefit on the annual charges on the Demat account?
Yes, there is as most of the stockbroker charges monthly AMC charges while there are others that offer relaxation for the first year.
Let’s have a quick look at the charges for Demat account levied by different stockbrokers.
|Free Demat Account Charges|
|Upstox Demat Account Charges||Nil||₹25/month|
|Angel One Demat Account Charges||Nil||₹20/month|
|Motilal Oswal Demat Account Charges||Nil||₹0-₹999/year|
|Motilal Oswal Demat Account Charges||Nil||₹450 from second year|
|Paytm Money Demat Account Charges||Nil||Nil|
|5paisa Demat Account Charges||Nil||₹25/month|
|Alice Blue Demat Account Charges||Nil||₹400/year|
Here not only the broker offers zero account opening fees but also provides you the relaxation by charging you the AMC fees per month. Among many different stockbrokers, there is a broker like Paytm Money that does not charge any annual fees.
Apart from this is there any other stockbrokers charging no fees for maintaining an account?
For this let’s dive into the detail below.
Free Demat Account With No Annual Charges
As discussed in the table above, there is a discount stockbroker charging no fees for maintaining an account but there are other full-service stockbrokers as well that come up with some plan that offers the relaxation of zero AMC charges.
For example Motilal Oswal. The broker charges the AMC of ₹999 per annum but if the investor maintains a required margin of ₹10k-₹25k then you can avail of the benefit by paying the AMC of ₹199 per annum.
Apart from this, the investor maintaining the trading margin of more than ₹25k can have an advantage of a free Demat account as no AMC is charged on them.
Other than this there are other stockbrokers who charge zero AMC by charging you one-time refundable fees or by under different offers and plans.
|Lifetime Free Demat Account|
|Demat Account||AMC Charges||Deposit|
|Motilal Oswal Demat Account||Nil||Margin:>25K|
|Value Pack: >3K|
|Choice Broking Demat Account||Nil||₹1500 (non-refundable)|
|PL India Demat Account||Nil||₹3000 (refundable)|
|Finvasia Demat Account||Nil||Nil|
|Prostocks Demat Account||Nil||₹1000 (refundable)|
Best Free Demat Account
We discussed the opening charges, AMC fees and other related information but doesn’t get the clear information of the stockbroker that offers the best free demat account services.
So here is the question, which stockbroker is offering the best in class services to its clients without charging enough fees for opening and maintaining demat account?
To make it easier here we are with the list of best stockbrokers that has gained a much fame in the industry. They are considered to be the best in terms of:
- Active client base
- Complaint Percentage
- Mobile Trading App
- Products and Services
- Brokerage Charges
|Best Free Demat Account|
|Stockbrokers||Type||Active Client Base||Complaint Percentage||Registered With|
|Upstox||Discount||2141095||0.04%||NSE, BSE, MCX|
|Angel One||Hybrid||1564667||0.09%||NSE, BSE, MCX, NCDEX|
|5Paisa||Discount||870405||0.07%||NSE, BSE, MCX|
|Sharekhan||Full-Service||679333||0.05%||NSE, BSE, MCX, NCDEX|
|IIFL Securities||Hybrid||291730||0.07%||NSE, BSE, MCX, NCDEX|
Which Bank Offers Free Demat Account?
Apart from the above mentioned full-service and disocunt brokers, there are certain banks offering the brokerage services. Most of these stockbrokers offers the demat account for Free and further provides multiple benefits in terms of:
- Products and Services
- Trading app
|Best Bank Offering Free Demat Account|
|Stockbrokers||Active Client Base||Complaint Percentage||Registered With|
|ICICI Securities||1580233||0.03%||NSE, BSE, MCX|
|HDFC Securities||957085||0.02%||NSE, BSE, MCX|
|Kotak Securities||743206||0.04%||NSE, BSE, MCX, NCDEX|
Free Demat Account App
The stockbrokers mentioned above provide you demat account for free and some of them also charge no AMC fees, but what about the trading experience.
Does the stockbroker provide the best experience to their investors through their app and above all do they provide the app for FREE?
Once you open an account with any of the stockbrokers, then you can reap the benefit of trading using the trading platform provided for free. However, there are specific features of the application that is available at a specific cost.
This generally includes:
- Algo trading software
- Research reports
- Advanced Option Chain
- Advanced Charts
No doubt all these features make it easier for you to trade and invest in specific stocks and thus prove to be worthy enough too. But is there any free Demat account broker offering the maximum features of the app without charging any additional money?
Yes, there are the details of which is given in the table below:
|Free Demat Account App|
|Angel One Mobile App|
|Angel One Mobile App|
|Motilal Oswal App|
|5Paisa Mobile App|
Free Demat Account Refer and Earn
Opening a demat account for free comes up with different benefits like:
- Security of shares.
- Low brokerage to trade in different segments.
- Brokerage credits to active traders.
- More exposure to the share market through trading app.
- Keeping you updated with the market movements by providing real-time data.
- Most of the stockbrokers offer you free training sessions to make it easier for you to understand the market basics and trends.
Other than this you can reap the advantage of earning money by referring a demat account services to your friends or family. Here stockbrokers come up with different plans and offers for its clients where you can start making money right from your first referral.
The amount ranges from ₹250-₹1000 or more that depends upon:
- Number of referrals.
- Number of referrals who are trading actively.
- Total brokerage generated by referrals.
Ofcourse this referral varies from broker to broker, and hence to open up the opportunity for you, A Digital Blogger offers a referral model where you start earning the cash reward right from your first referral, irrespective of whether the referral is trading actively or not.
Opening a Free Demat Account with these brokers does not mean that you won’t be able to reap the leverage offered by the broker in different segments.
In fact, by offering a free Demat account the broker opens a gateway for potential investors to get into a trade and to earn a good return on investing their hard-earned money.
So, choose the broker with whom you want to do trade and start making money in the stock market.
In case you are looking to open a free demat account, just fill in some basic details below and a callback will be arranged for you:
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