Best Demat Account in India:- For ordinary individuals, investing in the stock market has become one of the finest investments. With the advent of the digital era, trading in the stock market has grown easier thanks to various online brokers and discount brokers. If you’re thinking about getting into stock investing, the first question that comes to mind is, “Which is the Best Demat Account in India?” To assist you in making an informed decision, this article will provide you with a list of the Best Demat Accounts in India.
Various online Demat account providers can be found in the stock market. Quality, on the other hand, is not defined by quantity. So, in order to obtain the Best Demat Account in India, one must use the appropriate approach. Several trading websites provide a comprehensive list of the finest Demat accounts in India. You do not have to be concerned about the procedure. Simply concentrate on a few key parameters to make the account speak to your desires. You may check by comparing those Demat and trading accounts based on the variables mentioned. All of the stockbrokers you found by searching the finest trading sites must have distinguishing characteristics. All you need to know is which Demat account in India is the best.
Table of Contents
What is a Demat Account, and How does it work?
A Demat account is a dematerialized account that keeps track of your stock holdings while you trade on the stock exchange. A Demat A/c administers your shareholdings, securities, ETFs, and mutual funds in electronic form, much like a savings account does. A broker is required to trade in the stock market. After you’ve decided on a broker, you’ll need to open an account with them to begin investing in the stock market, government securities, and bonds, among other things.
Documents Required to Open a Demat Account
To open a Demat Account, keep the following documents in hand
1. Proof of Identity: driving license, Aadhaar card, Voter ID, etc.
2. PAN card
3. Proof of Address: gas bill, Aadhaar card, passport, electricity bill, etc.
4. Proof of bank account: Cancelled cheque or bank statement of last 6 months
5. Recent photograph
If you’re opening a Demat account online, you’ll need to upload these documents as well as complete the KYC.
How can I start an online Demat account?
Simply follow the procedures to open a Demat account online.
1. Select a broker
You must select a broker from a list that includes Upstox, Angel Broking, Zerodha, 5paisa, and others. Visit their website or download their mobile application once you’ve decided on a broker.
2. Begin by completing KYC and submitting documents.
Go to the “Open Demat A/c” option after entering the broker’s website or app. The processes for uploading the relevant papers will be guided by the website or mobile app. Fill out the KYC form and send it in.
3. Verification
Verification of your submitted documents and information could take anywhere from a few hours to several days. You will be notified once the verification is completed.
4. Electronic signature
You will be provided a copy of the agreement after verification. Go over the terms and conditions carefully. Now, in the designated section, provide an e-signature.
5. Approval of the account
Your application will be processed by the depository participant NSDL or CDCL. You will be notified and given a Beneficial Owner Identification Number once your application has been approved (BO ID). You can access your account by entering your BO ID or just login in with the app or website that you used to create it.
Best Demat Account in India 2023
A number of brokers are offering you the chance to register a Demat account with them. However, you must evaluate aspects like brokerage fees, platform fees, delivery fees, investment possibilities, and so on before deciding on a broker. To assist you in your endeavor, we have compiled a list of the best Demat accounts in India from which you can pick to invest your hard-earned money.
Top 10 Best Demat Accounts in India for the year 2023
- Upstox Demat Account
- Zerodha Demat Account
- 5Paisa Demat Account
- Sharekhan Demat Account
- Angel Broking Demat Account
- HDFC Securities Demat Account
- ICICI Direct Demat Account
- Kotak Securities Demat Account
- Motilal Oswal Demat Account
- IIFL Demat Account
Let’s take a closer look at each of the best Demat Accounts in India:
Upstox Demat Account
Upstox is one of India’s most popular online Demat accounts. The brokerage fees are extremely minimal. It also includes complex graphics to help you make investment decisions. The Upstox account can be used to invest in stocks, mutual funds, initial public offerings (IPOs), futures and options (F&O), and digital gold.
To open an account with Upstox, you must pay Rs.199. It costs Rs.20 for intraday, futures, and options orders but nothing for delivery orders. In a nutshell, it is the greatest Demat account for small investors in India. Upstox levies a monthly maintenance fee of Rs.25+GST.
Zerodha Demat Account
For beginners, Zerodha Demat A/c is one of the top Demat accounts in India. You can invest in mutual funds, stock markets, commodities, and other things with it. Zerodha Kite is the app you can use to manage your
It charges Rs.20 or 0.03 percent (whichever is lower) each intraday and F&O order for equity delivery and Rs.20 or 0.03 percent (whichever is lower) for F&O orders. This platform charges Rs.200 for the establishment of a Demat and trading account (Equity, F&O, and Currency). And charges Rs.300 to open a Demat and trading account (Equity, F&O, Currency, and Commodity). The annual maintenance fee is Rs.300 inclusive of GST. In India, Zerodha is one of the best options for opening a Demat account.
5Paisa Demat Account
5Paisa Demat A/c is one of India’s cheapest and most popular Demat accounts. A 5Paisa Demat A/c can be opened for free. It charges an Rs.25+GST AMC (Account Maintenance Charge). However, anyone investing less than Rs.50000 is excluded from the DP annual maintenance payment. For delivery, intraday, or any other type of executed order, this platform charges a flat fee of Rs.20. There are a few subscription solutions available to help you save money on brokerage fees. With the lowest brokerage cost, it is one of the top Demat accounts in India.
Sharekhan Demat Account
There are no fees to open a Sharekhan Demat A/c. Furthermore, for the first year, you can utilize the account without paying any annual maintenance fees. If you have a holding of more than Rs.50000, it levies a maintenance fee of between Rs.100 and Rs.750. This fee is increased from Rs.2000 to Rs.2500 for transactions above Rs.2 lakh.
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Sharekhan is one of the greatest three-in-one Demat accounts, allowing you to open a Demat, trading, and savings account all at once. If you use the Sharekhan account to trade, the delivery fee is 10 paise per share and the intraday fee is 5 paise per share.
Angel Broking Demat Account
Angel Broking is the second top broker in India for opening a Demat account. For a little fee, you can open an Angel broking account. Opening a 3-in-1 account, on the other hand, is entirely free. Demat annual maintenance fees are waived for traders who trade less than Rs.50000.
For the first year, you can utilize the platform without paying any annual maintenance fees. It also charges zero brokerage on delivery and a fixed fee of Rs.20 or 0.25 percent (whichever is lower) for intraday, futures and options, commodities, and currency trading. As a result, this is India’s best Demat account with the lowest brokerage.
HDFC Securities Demat Account
HDFC is one of the top banks in India for opening a Demat account because it offers free account opening. The HDFC securities Demat A/c has an annual maintenance fee of Rs.750. This fee is, however, waived for the first year.
For equity delivery and intraday trading, it charges brokerage fees of 0.50 percent and 0.05 percent, respectively. In India, HDFC is one of the finest banks for Demat accounts.
ICICI Direct Demat Account
It is one of the best and most affordable Demat accounts in India, with a free 3-in-1 account. A 3-in-1 or 2-in-1 ICICI direct Demat A/c has a yearly maintenance charge of Rs.300. You can choose from a variety of strategies to lower your brokerage fees.
On the NSE and BSE, you may monitor live share prices and trade stocks. Through the 3-in-1 online trading account, you can also trade futures and options, currencies, mutual funds, initial public offerings, and life insurance.
Kotak Securities Demat Account
It is one of the best places in India to open a Demat account with no brokerage on intraday trades. Kotak Securities does not impose an account opening fee. The Kotak Securities Demat A/c has an annual maintenance fee of Rs.600.
The minimum brokerage fee is 4paisa per share, or Rs.21 per equity delivery order, whichever is greater. There are various brokerage programs from which to choose depending on your needs. There are numerous solutions available to help you save money on brokerage costs. Instead of using cash as a margin, you might utilize stocks.
Motilal Oswal Demat Account
Motilal Oswal is one of India’s best Demat account providers. From the second year onwards, it costs an Rs.400 annual maintenance fee. For equity delivery, the brokerage cost is 0.50 percent, and for intraday trading, it is 0.05 percent. It can be decreased by paying a fixed monthly charge for their various subscriptions. The greatest Demat account for trading in India is Motilal Oswal Demat A/c.
IIFL Demat Account
The IIFL Demat A/c is the next best Demat account in India on the list. It costs Rs.295 to start an IIFL Demat account. It allows you to use this account for free for the first year and then charges an Rs.250 annual maintenance payment. For equity delivery, IIFL charges no commission and Rs.20 per order for intraday trading.
Top 10 Best Demat Account in India Provided by Top 10 Demat Account Providers With Customer Ratings in the year 2023
| Rank | Broker Name | Ratings |
| 1 | Wisdom Capital Demat Account | 9.40/10 |
| 2 | ICICI Direct Demat Account | 8.70/10 |
| 3 | Kotak Securities Demat Account | 8.38/10 |
| 4 | Zerodha Demat Account | 8.24/10 |
| 5 | Sharekhan Demat Account | 8.05/10 |
| 6 | Angel Broking Demat Account | 8.01/10 |
| 7 | 5Paisa Demat Account | 7.95/10 |
| 8 | SBI Securities Demat Account | 7.93/10 |
| 9 | HDFC Securities Demat Account | 7.89/10 |
| 10 | Motilal Oswal Demat Account | 7.87/10 |