Top 10 Best Demat Accounts In India

A Demat account, abbreviated form of dematerialized account is an electronic account used to hold and manage investments like stocks, mutual funds, bonds, etc. in a digital format. In India, it is now essential to have a demat account. Those people who still have their share certificates in paper format have to convert them into electronic form before they are sold in the stock market. Before investing in a Demat account, it becomes crucial to select the best one to invest in so that users have a safe and user-friendly platform to hold their securities. Here, we have come up with a list of the top 10 best Demat accounts in India for beginners in 2024.  

Top 10 Best Demat Accounts in India for Beginners in 2024

Note: * NPS - National Pension System

** IPO - Initial Public Offering 

*** ETFs - Exchange traded funds

**** HNI - High Net Individuals

*****F&O - Futures & Options (F&O)

******PMS - Portfolio Management Service

Charges of the Top 10 Demat Accounts in India 

Features of The Top 10 Best Demat Accounts 2024

1. Paytm Money 

Paytm Money gives you access to a wide range of investment options to manage your money and achieve your financial goals. 

Key highlights

• Account opening Fee: Rs. 0
• Platform fee for 30 days: Rs. 0
• Brokerage for 30 days: Rs. 0
• Minimal amount for investing: Rs. 100
• Annual maintenance charge: Free
• Exchange membership: BSE, NSE, MCX
• Trading Platforms: Paytm Money App
• Charges per transaction: Flat fee of Rs. 20 per executed order for intra-day, delivery, and F&O trades
• PMS Services: Available 
• Customer Service: Phone, Email, Chat
• Investment Options: Equity, derivatives, mutual funds, IPOs. 
• Get upto 1% higher returns by investing in direct mutual funds
• Save additional tax on investments upto ₹ 50,000 by investing in the National Pension System

2. Zerodha 

Key highlights

• Annual Maintenance Charge: Rs. 300 per annum
• Exchange membership: BSE, NSE, MCX
• PMS Services: Not available 
• Charges per transaction: Rs. 13.5 per scrip for selling stocks, CDSL fee of Rs.5.5 per mutual fund
• Trading platforms:  Kite, Console, Coin, Sentinel, Varsity
• Low-cost brokerage rates
• Offers a wide range of financial instruments (stocks, derivatives, commodities, mutual funds, bonds)
• Easy and smooth trading experience
• Attractive pricing compared to traditional brokerage firms
• Easy and convenient to use online trading platforms (Zerodha Smallcase, Zerodha Console)

3. Upstox

With the Upstox Demat account, you can invest, trade, learn, and track your wealth all from one account. Opening the account happens in 3 simple steps, and it offers quick and secure onboarding. 

Key highlights

• Annual maintenance charges: Rs. 150 per annum 
• Exchange membership: BSE, NSE, MCX
• PMS Services: Not available 
• Charges per transaction: Flat fee of Rs. 20 per order executed for delivery, intra-day, and F&O trades
• Trading Platforms: Upstox MF,  Upstox Pro, and Upstox API
• Customer Service: Phone, email, and chat
• Investment options: Equity, Derivatives, Currency, Commodity, Mutual Funds, IPOs, Bonds
• Open a free Demat account in 2 minutes
• Zero AMC & charges* on Mutual Funds and IPO
• Gives an easy selection process for investment. You can easily find investment opportunities using their smart list and smart screener. 
• You can get technical and fundamental information about companies you want to invest in with ease.
• Upstox simplifies the process of investing in mutual funds and ETFs for the customer. Users can do it from the same app they use for trading or investing in equity. 
• Upstox is offering customers demat accounts with zero annual maintenance fees at present. 
• For futures and options traders, Upstox provides an easy to use trading strategy builder and readymade strategies which are very easy to implement.

4. Aditya Birla Capital

The Aditya Birla Capital Demat account is a great option for individuals who want to invest in low-risk mutual funds and ETFs. It supports various financial products, including equity delivery, intraday trading, ETFs, and derivatives.

• Annual Maintenance Charge: Rs. 300 per annum
• Exchange membership: BSE, NSE, MCX
• PMS Services: Not available
• Charges per transaction: Rs. 50 per transaction for delivery trades and Rs. 20 per transaction for Intraday trades
• Trading Platforms: ABTrade, Mobile App
• Customer Service: Phone, email, and chat
• Investment options:  Equity, derivatives, currency, commodity, mutual funds, and IPOs

5. 5Paisa Demat Account

The 5Paisa Demat Account is an excellent option for those who want to invest in varied trading options. The multiple market research tools, comprehensive portfolio analysis, and trading alternatives it offers make it one of the best Demat accounts in India in 2024. 

Key highlights

• Annual maintenance charges: Rs. 300 per annum 
• Exchange membership: BSE, NSE, MCX
• Charges per transaction: Flat fee of Rs. 20 per executed order for intra-day, delivery, and F&O trades.
• Trading platforms: 5Paisa App
• Customer service: Phone, Email, and Chat
• Investment options: Equity, derivatives, currency, commodity, mutual funds, IPOs, and bonds.
• Refreshes the page faster with WebSockets
• Highly secure and safeguards your financial data.  
• Instant transfer of money through RTGS, IMPS, and NEFT
• Preferred notifications without spamming and market insights with live reports 
• Traders can withdraw money four times a day. 

6. Groww Demat Account 

Groww is a great option for a demat account. They do not charge any annual maintenance fee, and you have to pay only when you trade. The account opening process is 100% online and free.  

Key highlights

• Annual Maintenance Charge: free
• Exchange membership: BSE, NSE, MCX, and NCDEX
• PMS Services: Available 
• Charges per transaction: Rs. 8 plus Rs. 5.50 (CDSL Charges) per ISIN
• Trading Platforms:  Website and mobile app
• Customer Service:  Phone, email, and chat
• Investment Options: Equity, currency, commodity, mutual funds, IPOs
• With Groww, customers can invest in US stocks. They can also buy partial stocks through Groww.
• Groww offers its users a seamless paperless KYC facility for opening an account. 
• The account opening process is completely online and seamless. 
• The account opening charges and the annual account maintenance charges are zero currently.
• Demat accounts provide an all-in-one platform for mobile devices as well as desktops. 
• You can transact in multiple segments from the same platform. 
• You have the option of investing in digital gold with Groww. 

7. Axis Direct Demat Account

The Axis Direct Demat Account is an excellent choice for investment. With more than 2 million customers using it already, you can confidently open this demat account. This is a 3-in-1 account with integrated Demat, trading, and savings account. You will enjoy the benefits of free market analytics reports, trading guidance from research experts, and a variety of investment options, including equities, mutual funds, bonds, derivatives, ETFs, and more.

Key highlights

• Annual maintenance charges: Rs. 650 per annum, free for the first year
• Exchange membership: BSE, NSE, MCX, NCDEX
• PMS services: Available
• Charges per transaction: Rs. 20 per executed order
• Trading platforms: Axis Direct Web, Axis Direct App, and Axis Direct Trade
• Customer service: Phone, Email, and Chat 
• Investment options: Currency, commodity, equity, mutual funds, IPOs, and bonds

8. Kotak Securities Demat Account

The Kotak Securities Demat account is a 3-in-1 Demat account that facilitates seamless transfer of payments. All investing options are available on a single platform. Support for traders with poor internet connectivity is offered. 

Key highlights

• Annual maintenance charges: Rs. 600 per annum
• Exchange membership: BSE, NSE, MCX, and NCDEX
• PMS Services: Available
• Charges per transaction: 0.04% + NSDL or min Rs. 20 per executed order
• Trading platforms: Kotak Stock Trader, KEAT Pro X, KEAT Pro X
• Customer service: Phone, email, chat
• Investment options: Equity, commodity, currency, mutual funds, IPOs, and bonds
• The Kotak Securities Demat account offers various price plans for their customers. 
• These plans are unique as two are based on the customer’s age - One for customers below 30 and one for those above 30.
• They have a unique brokerage plan, offering zero brokerage on intraday trades. 
• A loan against securities is offered to the customer through Kotak Bank, the parent company. 
• Kotak Securities offers its customers the facility to invest in the US equity market. The onboarding facility is paperless and effortless. You can even buy fractional stocks. 
• They also offer Private Client Group, which is their high-end offering for high net worth individuals. It comes with a personal account manager and other top-class services.

9. SBICAP Securities Demat Account 

The SBICAP Securities Demat Account is available on both web and mobile platforms and helps investors make informed decisions. Users can invest in multiple products  (Bonds, equities, derivatives, mutual funds, IPOs, corporate FDs, and fixed income) under the same roof.

 Key highlights

• Annual maintenance charge: Free
• Exchange membership: BSE, NSE, MCX, and NCDEX
• PMS Services: Not available
• Charges per transaction: Rs. 20 per executed order
• Trading platforms: SBISMART Mobile Trading app
• Customer service: Phone, email, and chat
• Investment options: Equity, currency, commodity, IPOs, mutual funds, corporate FDs and bonds
• You can buy upto 4x shares with 0% interest
• You can invest in corporate FDs for assured returns
• Enjoy exclusive tax benefit by investing in the National Pension System

10. HDFC Securities Demat Account

HDFC Securities Limited provides a 3-in-1 account combining savings, trading, and Demat accounts. The Demat account eliminates paperwork hassles and thus streamlines trading. With 24/7 customer support, you can trade in Indian and foreign stocks with ease without any hassles. 

Key highlights

• Annual maintenance charge:  Rs. 750 per year
• Exchange membership: BSE, NSE, MCX-SX, NCDEX, MCX
• PMS Services: Available
• Charges per transaction: Rs. 25 per transaction
• Trading platforms: ProTerminal, Mobile Trading, Web Trading
• Customer Service: Phone, email, and chat
• Investment options: Stocks, bonds, mutual funds, ETFs, IPOs, NCDs, FDs, etc.

Conclusion

Before choosing the demat account to invest in, it is essential to assess your investment goals, trading preferences, and the specific features and services that align with your needs. Factors such as account opening charges, brokerage fees, AMC, research reports, trading platforms, and customer support have to be considered to make an informed decision that suits your investment requirements. 

FAQs on Best Demat Accounts in India

1. Why is a demat account necessary?

It is mandatory to have a demat account according to the Indian stock market regulations. You have to open a Demat account before investing in shares or participating in IPOs. 

2. Which is the safest demat account in India?

There are multiple demat accounts in India which are safe to invest in. Some of them are Zerodha, Groww, Upstox, 5paisa, HDFC Securities, and Axis Direct