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Best demat accounts in India
A demat account is where your shares and mutual-fund units are held electronically, paired with a trading account to buy and sell. India's discount brokers have made opening one free or near-free, but they differ on brokerage charges, annual maintenance, platform quality, and the funds and segments they support. This page compares the most widely used options so you can pick the one that fits how you invest.
Comparison of Demat & Trading Accounts
| Broker | Opening Fee | Annual Maintenance (AMC) | Equity Delivery Brokerage | Best For | Action |
|---|---|---|---|---|---|
| Zerodha | ₹0 | ₹300/yr (free year 1) | ₹0 | Discount brokerage & direct mutual funds (Coin) | Open account → |
| Upstox | ₹0 | ₹300/yr (free year 1) | Flat ₹20/trade (or 2.5% whichever is lower) | Active trading & F&O | Open account → |
| Groww | ₹0 | ₹0 lifetime | ₹0 | Beginners & clean platform | Open account → |
| Angel One | ₹0 | ₹240/yr (after year 1) | 0.1% or ₹20/order (whichever is lower) | Research support & offline branches | Open account → |
* Last verified: June 28, 2026. Brokerage rates and AMC charges change frequently; please confirm current details on each stockbroker's official platform before opening an account.
How we chose
We compared real, published charges and platform features from official depository participants and brokers. We ordered entries based on which type of investor they suit rather than commissions, and we exclude anything we cannot verify.
Calculators on Ganakam (such as our dedicated SIP Calculator) run fully in your browser and do not require you to open any account.
Frequently Asked Questions
Is opening a demat account free in India?
Demat account opening charges vary by broker. Many discount brokers offer free digital account opening, while some charge a one-time fee of ₹200 to ₹300. Standard details are listed in the comparison table above.
Which demat account is best for a beginner / for an SIP investor?
For beginners and mutual fund SIP investors, discount brokers with clean mobile apps, zero equity delivery brokerage, and direct mutual fund support are highly popular. Zerodha is one of the leading options in this category.
What is AMC and can I avoid it?
Annual Maintenance Charges (AMC) are levied by DP/brokers to maintain your demat account. Some brokers charge a flat annual rate (e.g. ₹300/year), some charge quarterly, and some offer zero AMC under basic service demat accounts (BSDA) for holdings below ₹50,000.
Can I have more than one demat account?
Yes, you can open multiple demat accounts linked to the same PAN card, provided they are opened with different stockbrokers or depository participants.