Best Demat Account in India

Created on 23 Jun 2023

Wraps up in 6 Min

Read by 11.2k people

Updated on 02 Nov 2023

If you are looking to invest in the stock market, having a demat account is the first step towards it. A demat account serves as a digital repository that securely holds your shares and securities in electronic form, making trading easy, convenient, and secure. Choosing the right demat account is a must for a seamless investing experience.

But how do you choose the best demat account in India? So many options are available, each with its features, charges and benefits. How do you compare them and find the one that suits your needs and preferences?

Don’t worry; we have got you covered. In this blog post, we will help you find the best demat account in India by comparing some of the most popular ones on various parameters. We will also give you some tips on how to open a demat account and what to look for when choosing one.

So, let’s get started!

6 Best Demat Accounts in India

So here is the list of best demat accounts in India 

1. Zerodha

Zerodha offers a Demat account that lets you trade in various segments with either zero or low brokerage. It offers a range of online tools and platforms like Kite, Coin, Varsity, Console, etc. and has one of the most robust customer support systems. 
Build-in house, Kite is India's simplest stock trading app. With a user-friendly interface, advanced features like 100+ indicators and cover/GTT orders, and multilingual support, Kite is a trader's dream.

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2. Groww

Customers can use the Groww app for free and open an account with no maintenance costs. The app lets them invest in mutual funds without any transaction or hidden fees, but for stocks, they have to pay some fees like brokerage, Demat, and other taxes and duties. Groww charges a flat fee for each stock trade and has the simplest and most transparent pricing model.

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3. Upstox

With Upstox accounts, one can open a Demat account to trade in various products like shares, digital gold, futures, mutual funds, and more. It also gives live updates on the trading market to help users make the right choice. One can start investing with Upstox by opening a Demat account for as low as one rupee. It also offers no commission on Mutual Funds and IPOs and a nominal fee of just ₹20 per order on Equity, F&O, Commodity, and Currency trading. 

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4. 5paisa

5paisa provides affordable financial services such as online trading, mutual funds and insurance. They charge only ₹20 per order for any kind of trade, whether it is Equity Delivery, Intraday, F&O or Currency Derivatives, and have a simple and low-cost brokerage model.

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5. HDFC Securities

HDFC Securities offers over 30 products and serves over 1 million customers across different segments.
It has the lowest brokerage rates of 0.10% per trade for Equity Delivery and ₹20 per transaction for derivatives trading. HDFC Securities also provides a 3-in-1 account that combines a savings bank, trading, and a Demat account. Customers can use one account for all their investment needs.

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6. Axis Direct

Through Axis Direct, you can open a 3-in-1 account that combines a savings bank, trading, and a Demat account for seamless transactions. You can also access research and analysis tools to help you make intelligent investment decisions. 

It offers free research reports to its customers and classroom sessions, webinars, Online Tutorials and Articles by Experts to help beginners understand the basics.

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Here is the comparison table:

Broker

Account Opening Fees

Annual Maintenance Charges

Equity Delivery

Equity Intraday

Free Research Reports

Zerodha

₹300 

₹300 

Zero

0.03% 

No

Groww

Free

Free

0.05%

0.05%

No

Upstox

Free

₹150 

2.5%

0.05%

No

5paisa

Free

₹300 

₹10

₹10

Yes

HDFC Securities

Free

Free

0.15%

0.015%

Yes

Axis Direct

₹499

₹790

0.50%

0.05%

Yes

Conclusion

A Demat account is a must-have for anyone who wants to invest in the stock market. However, choosing the best Demat account in India can be daunting, as so many options are available.

But, what if we tell you about a platform that can compare brokers offering demat accounts in seconds, and not just compare, help you open the demat account too?
This will surely help you take your first step towards your stock market journey.

Let us tell you that the platform we are talking about is Finology Select

Finology Select helps you compare and choose the best Demat account that suits your needs on every factor. By leveraging our comprehensive tools and resources, you can confidently open your demat account.

So, if you're ready to embark on your investment journey, take advantage of the services offered by Finology Select and open your demat account today. Remember to assess your goals, research thoroughly, and choose the demat account that best suits your needs. Start investing and make your mark in the stock market!