A Demat account (Dematerialized account) is essential for trading and investing in the stock market. With India’s growing interest in stock investments, choosing the best Demat account is crucial. In this article, we analyze the top 10 Demat accounts in India, highlighting their features, brokerage charges, benefits, and why they stand out.
What is a Demat Account?
A Demat account stores securities like stocks, mutual funds, ETFs, and bonds electronically. It eliminates the need for physical certificates, making transactions seamless and secure. It is linked to a trading account, which facilitates buying and selling of shares.
Top 10 Best Demat Accounts in India
1. Groww Demat Account
- Best For: Beginners & Mutual Fund Investors
- Account Opening Charges: Free
- AMC: Free
Brokerage Charges:
- Equity Delivery: Free
- Intraday: ₹20 per order
- USP: User-friendly interface, zero AMC, direct mutual fund investments
- Google Play Store Rating: 4.5 ★
- Downloads: 10M+
2. PhonePe Share Market (Share.Market) Demat Account
- Best For: Mobile-first investors, seamless UPI integration
- Account Opening Charges: Free
- AMC: ₹300 per year
- Brokerage Charges:
- Equity Delivery: Free
- Intraday: ₹10 per order
- USP: Direct integration with PhonePe, an easy-to-use platform
- Google Play Store Rating: 4.2 ★
- Downloads: 5M+
3. Dhan Demat Account
- Best For: Pro traders, fast execution
- Account Opening Charges: Free
- AMC: ₹300 per year
- Brokerage Charges:
- Equity Delivery: Free
- Intraday: ₹20 per order
- USP: Advanced charting tools, API trading, good margin options
- Google Play Store Rating: 4.3 ★
- Downloads: 1M+
4. Angel One Demat Account
- Best For: Full-Service Brokerage with Research
- Account Opening Charges: Free
- AMC: ₹240 per year
- Brokerage Charges:
- Equity Delivery: Free
- Intraday & F&O: ₹20 per order
- USP: Free research reports, AI-based advisory, portfolio management
- Google Play Store Rating: 4.0 ★
- Downloads: 10M+
5. Zerodha Demat Account
- Best For: Discount Brokerage, Low Charges
- Account Opening Charges: Free
- Annual Maintenance Charges (AMC): ₹300 per year
Brokerage Charges:
- Equity Delivery: Free
- Intraday & F&O: ₹20 per order
USP: Best for beginners, simple interface, lowest brokerage fees, seamless TradingView & ChartIQ integration
- Google Play Store Rating: 4.4 ★
- Downloads: 5M+
6. Upstox Demat Account
- Best For: Fast Execution, Low Brokerage
- Account Opening Charges: Free
- AMC: ₹249 per year (first year free)
- Brokerage Charges:
- Equity Delivery: Free
- Intraday & F&O: ₹20 per order
- USP: Fast execution, good for options trading, high-margin availability
- Google Play Store Rating: 4.1 ★
- Downloads: 10M+
7. Paytm Money Demat Account
- Best For: Digital Investing
- Account Opening Charges: ₹200
- AMC: ₹300 per year
Brokerage Charges:
- Equity Delivery: Free
- Intraday: ₹10 per order
- USP: Best mobile trading experience, integration with Paytm Wallet
- Google Play Store Rating: 4.2 ★
- Downloads: 10M+
8. ICICI Direct Demat Account
- Best For: Banking Integration, Research & Analysis
- Account Opening Charges: ₹975
- AMC: ₹300 per year
- Brokerage Charges:
- Equity Delivery: 0.55%
- Intraday: 0.03%
- USP: Direct integration with ICICI Bank, 3-in-1 account, premium research reports
- Google Play Store Rating: 3.9 ★
- Downloads: 1M+
9. HDFC Securities Demat Account
- Best For: Premium Brokerage Services
- Account Opening Charges: ₹999
- AMC: ₹750 per year
- Brokerage Charges:
- Equity Delivery: 0.50%
- Intraday: 0.05%
- USP: Seamless banking integration, trusted brand, good for long-term investors
- Google Play Store Rating: 3.8 ★
- Downloads: 1M+
10. Motilal Oswal Demat Account
- Best For: Research & Advisory
- Account Opening Charges: Free
- AMC: ₹400 per year
- Brokerage Charges:
- Equity Delivery: 0.20%
- Intraday: 0.05%
- USP: Top-rated research reports, free trading tips, investment guidance
- Google Play Store Rating: 3.7 ★
- Downloads: 1M+
FAQsÂ
1. Which is the best Demat account in India?
The best Demat account depends on your needs. Zerodha and Upstox are great for low brokerage, while Angel One and Motilal Oswal offer full-service brokerage with research insights.
2. Are Demat accounts free in India?
Some brokers like Groww and Zerodha offer free account opening, but they may charge an Annual Maintenance Charge (AMC).
3. Which broker has the lowest brokerage fees?
Zerodha and Upstox have the lowest brokerage fees, charging ₹20 per executed order for intraday and F&O trading.
4. Is Groww better than Zerodha?
Groww is ideal for beginners and mutual fund investors, while Zerodha is better for professional traders with advanced charting tools.
5. Can I open multiple Demat accounts?
Yes, you can open multiple Demat accounts with different brokers, but they must be linked to a unique PAN card.
Read Also:- 5 Pros and Cons of Holding Multiple Demat Accounts
Conclusion
Choosing the best Demat account in India depends on your needs. If you prefer low brokerage, Zerodha and Upstox are the best. For full-service brokerage with research insights, Angel One and Motilal Oswal are excellent. Beginners should go with Groww or PhonePe Share Market.
By analyzing brokerage, AMC, and features, you can select the right Demat account for trading and investment in India.
