Top 10 Best Demat Account in India (2026) – Charges, Brokerage & Free Opening

Investing in the stock market is one of the smartest ways to grow your money in India, but you cannot buy shares or IPOs without a Demat account. With so many brokers offering different charges, apps, and features, choosing the right one can be confusing. Picking the wrong broker may cost you extra fees every year. This guide compares the top 10 best Demat accounts in India based on brokerage, charges, and features.

The top 10 best Demat accounts in India include Zerodha, Groww, Angel One, Upstox, ICICI Direct, HDFC Securities, Kotak Securities, 5Paisa, Motilal Oswal, and Paytm Money. These brokers offer low brokerage, zero AMC options, easy apps, and reliable trading platforms for beginners and traders.

What is a Demat Account?

A Demat Account (Dematerialized Account) is an account that stores your shares, stocks, and other securities in electronic or digital form. Instead of holding physical share certificates like in the old days, all your investments are kept safely online inside your Demat account.

Whenever you buy shares from the stock market, they are automatically credited to your Demat account. When you sell them, they are debited from your account, and the proceeds are transferred to your bank account.

In simple words:

• Bank account → stores money

• Demat account → stores shares

A Demat account acts like a digital locker for your investments.

Why Do You Need a Demat Account?

Here are the main reasons why a Demat account is important for every investor:

• Mandatory for stock market investing: Required to buy and sell shares on NSE and BSE

• Stores shares digitally: Keeps your stocks safe in electronic form

• No paperwork: 100% paperless and hassle-free transactions

• Safe and secure: No risk of losing or damaging physical certificates

• Quick buying & selling: Trade instantly using a mobile or a laptop

• Hold multiple investments: Stocks, IPOs, ETFs, mutual funds, bonds in one place

• Easy portfolio tracking: Monitor profits, losses, and holdings anytime

• Convenient for beginners: Simple apps make investing easy for everyone

In short, a Demat account makes investing safe, simple, and convenient.

Demat Account vs Trading Account

Many beginners think a Demat account and a Trading account are the same. But they perform completely different functions.

Understanding this difference is very important before opening your account.

Feature	Demat Account	Trading Account
Purpose	Stores shares	Buy & sell shares
Works like	Locker	Marketplace
Holds	Stocks & securities	Money for trading
Mandatory	Yes	Yes

How they work together:

Let’s say you buy 10 shares of Infosys:

1. Trading account → places the order

2. Broker → buys shares from stock exchange

3. Demat account → stores those shares

How We Ranked the Best Demat Accounts

There are more than 50 stock brokers in India, but not all are good for beginners or cost-effective. Some charge high brokerage fees, while others have hidden fees or poor apps.

Here’s how we selected the top 10 best Demat accounts:

1. Brokerage charges

Lower brokerage means higher profits. We preferred brokers with flat ₹20 or lower fees.

2. Account opening fees

We checked which brokers offer free or low-cost account opening.

3. AMC (Annual Maintenance Charges)

Many brokers charge yearly fees. Lower AMC is better.

4. Trading app quality

We tested app speed, ease of use, charts, and order execution.

5. Features offered

We compared:

• IPO investing

• Mutual funds

• Margin trading

• Research tools

• Analytics

6. Customer support

Fast and helpful support is very important for beginners.

7. Safety & trust

Only SEBI-registered and accounts maintained with official depositories like CDSL/NSDL ensure your shares are legally protected and secure.

After comparing all these factors, we shortlisted the top 10 Demat accounts that offer low cost, strong features, and reliable service.

Top 10 Best Demat Account in India (2026)

Broker	Opening Fee	AMC	Brokerage	Best For
Zerodha	Free	₹300	₹20/order	Traders
Groww	Free	₹0	₹20/order	Beginners
Angel One	Free	₹240	₹20/order	All-round
Upstox	Free	₹0–150	₹20/order	Low cost
ICICI Direct	₹0–975	₹300+	% based	Research
HDFC Sec	₹999	₹750	% based	Banking users
Kotak	Free	₹0	Low	Long-term
5Paisa	Free	₹25/month	₹20/order	Budget
Motilal Oswal	Paid	₹441	% based	Advisory
Paytm Money	Free	₹0	₹15–20	Mobile users

1. Zerodha

Zerodha is India’s largest and most trusted discount broker with over 1+ crore customers. It is especially popular among intraday traders, F&O traders, and professional investors because of its low brokerage and powerful trading tools.

Charges:

• Account opening: Free

• AMC: ₹300 per year

• Brokerage: ₹20 per executed order

• Equity delivery: ₹0

Key Features:

• Kite advanced trading platform

• Fast order execution

• Advanced charts & indicators

• Direct mutual funds (Coin app)

Pros:

• Very low brokerage

• Professional tools

• Trusted brand

Cons:

• No research/advisory

• No relationship manager

Best For:

Active traders, F&O traders, and experienced investors

2. Groww

Groww is one of the fastest-growing investment apps in India and is extremely beginner-friendly. If you are new to investing and want a simple and clean app without complicated features, Groww is perfect.

Charges:

• Account opening: Free

• AMC: ₹0

• Brokerage: ₹20 per order

Key Features:

• Very simple interface

• One-click investing

• Stocks + mutual funds in one app

• Easy portfolio tracking

Pros:

• Zero AMC

• Easy for beginners

• Clean design

Cons:

• Limited advanced tools

• Not ideal for heavy traders

Best For:

Beginners and long-term investors

3. Angel One

Angel One (formerly Angel Broking) is a perfect mix of discount pricing and full-service features. It provides low brokerage along with research reports and stock recommendations.

If you want both low cost and guidance, Angel One is a strong choice.

Charges:

• Opening: Free

• AMC: ₹240

• Brokerage: ₹20 per order

Key Features:

• Research & stock tips

• SmartAPI tools

• Margin trading facility

• ARQ Prime advisory

Pros:

• Free research calls

• Low brokerage

• Helpful for beginners

Cons:

• The App is sometimes slow during peak hours

Best For:

Both traders and investors

4. Upstox

Upstox is another popular discount broker backed by Ratan Tata and Tiger Global. It offers low brokerage, modern design, and smooth app performance.

It is ideal for people who want a cheap and reliable broker.

Charges:

• Opening: Free

• AMC: ₹0–150

• Brokerage: ₹20 per order

Key Features:

• Fast trading app

• Advanced charts

• Good order execution

• Quick account opening

Pros:

• Very low cost

• Smooth interface

• Good speed

Cons:

• Limited research tools

Best For:

Budget traders and investors

ALSO READ: Best Demat Account Providers in India 2026

5. ICICI Direct

ICICI Direct is one of India’s oldest and most trusted full-service brokers. It offers premium research, advisory services, and a 3-in-1 account that links bank, trading, and Demat together.

Though charges are higher, many investors prefer it for safety and guidance.

Charges:

• Opening: Paid

• AMC: ₹300+

• Brokerage: Percentage-based (higher)

Key Features:

• Detailed research reports

• Portfolio advisory

• 3-in-1 account

• Margin trading

Pros:

• Trusted bank brand

• Excellent research

• Strong support

Cons:

• High brokerage

Best For:

Long-term investors needing expert advice

6. HDFC Securities

HDFC Securities is ideal for HDFC Bank customers who want seamless integration between bank and trading accounts.

Charges:

• Opening: ₹999 approx

• AMC: ₹750

• Brokerage: Percentage-based

Key Features

• 3-in-1 account (Bank + Trading + Demat)

• Detailed research reports

• Dedicated relationship manager

• IPO, bonds, and mutual funds access

Pros:

• Easy bank linking

• Trusted brand

• Good research

Cons:

• Expensive

• Not suitable for traders

Best For:

Bank-based long-term investors

7. Kotak Securities

Kotak Securities offers special zero brokerage plans for delivery trades. This makes it attractive for long-term investors who don’t trade daily.

Charges:

• Opening: Free

• AMC: ₹0

• Brokerage: Low/zero plans available

Key Features:

• Zero brokerage delivery plans

• 3-in-1 Kotak bank account

• Research & stock recommendations

• Mobile + web trading platform

Pros:

• Zero brokerage options

• Kotak Bank support

• Research tools

Cons:

• Complex pricing structure

Best For:

Long-term investors

8. 5Paisa

5Paisa is known as one of the most affordable brokers in India. It offers low AMC and discount plans for heavy traders.

Charges:

• Opening: Free

• AMC: ₹25 per month

• Brokerage: ₹20

Key Features:

• Flat brokerage model

• Value subscription plans

• Research & advisory add-ons

• Mutual funds & insurance products

Pros:

• Very cheap

• Budget-friendly

• Value plans

Cons:

• Basic UI design

Best For:

Cost-conscious traders

9. Motilal Oswal

Motilal Oswal is a full-service broker famous for strong research and advisory services. It is more suitable for serious investors rather than beginners.

Charges:

• Opening: Paid

• AMC: ₹441

• Brokerage: Percentage-based

Key Features:

• Expert research reports

• Dedicated advisory support

• Portfolio management services (PMS)

• Long-term stock recommendations

Pros:

• Expert research

• Portfolio management

• Stock recommendations

Cons:

• Expensive brokerage

Best For:

High net-worth investors

10. Paytm Money

Paytm Money offers simple investing through the Paytm ecosystem. It is easy to use and good for mobile-first users.

Charges:

• Opening: Free

• AMC: ₹0

• Brokerage: ₹15–20

Key Features:

• Easy-to-use mobile app

• Paytm wallet integration

• Direct mutual funds

• Quick IPO investing

Pros:

• Easy app

• Paytm wallet integration

• Low charges

Cons:

• Limited advanced features

Best For:

Casual and beginner investors

Demat Account Charges Explained

Demat Account Charges Breakdown:

Charge Type	What It Means	Typical Cost	When You Pay
Account Opening Fee	One-time fee to open Demat account	₹0–₹1000	Only once at opening
AMC (Annual Maintenance Charges)	Yearly maintenance cost	₹0–₹750/year	Every year
Brokerage Charges	Fee for buy/sell trades	₹20/order or % based	Every trade
DP Charges	Fee for selling shares	₹10–₹25 per sell	When you sell stocks
Call & Trade Charges	Extra charge for phone orders	₹20–₹50/order	If you call broker
Margin Interest	Interest on borrowed funds	12%–18% yearly	If using margin trading

Which Demat Account is Best for You?

The best Demat account depends on your trading style and experience. Different brokers are suitable for different types of investors.

Quick Recommendation Guide

• Beginners: Groww, Paytm Money (simple apps, zero AMC)

• Active traders: Zerodha, Upstox (low brokerage + fast execution)

• Long-term investors: Kotak, Angel One (low delivery charges)

• Research support: ICICI Direct, Motilal Oswal

• Budget users: 5Paisa (very low cost plans)

Choose a broker based on your needs, not just brand name.

ALSO READ: Best SEBI Registered Brokers in India (2026) – Compare Fees, Features & More

How to Open a Demat Account Online

Step-by-Step Process

Step 1: Choose a Broker

• Compare charges, features, and reviews

• Select a SEBI-registered broker like Zerodha, Groww, or Angel One

Step 2: Register with Mobile Number

• Enter your mobile number and email ID

• Verify using OTP

Step 3: Fill Personal Details

• Name, address, date of birth

• Income details and trading experience

Step 4: Upload Documents

• PAN card

• Aadhaar card

• Bank proof

Step 5: Complete KYC Verification

• Aadhaar-based eKYC or video KYC

• Takes only a few minutes

Step 6: E-Sign Application

• Sign digitally using Aadhaar OTP

• Submit the form

Step 7: Account Activation

• Broker verifies details

• Demat & trading account activated within 24–48 hours

After activation, you can start buying and selling shares instantly.

Documents Required

To open a Demat account smoothly, keep these documents ready. Having them prepared avoids delays during verification.

Mandatory Documents

• PAN Card, identity proof (compulsory for all investors)

• Aadhaar Card, for Address proof & KYC verification

• Bank Account Proof, cancelled cheque or passbook copy

• Signature for digital form signing

• Mobile Number Linked with Aadhaar for OTP verification

Optional (Sometimes Required)

• Income proof (for derivatives trading)

• Passport-size photo

Make sure your details match across all documents to avoid rejection.

Tips to Choose the Best Demat Account

Selecting the right Demat account can save you thousands of rupees every year. Here are some smart tips:

Important Tips

• Compare brokerage charges carefully

• Check AMC fees

• Prefer discount brokers for low costs

• Read app reviews & ratings

• Ensure broker is SEBI-registered

• Avoid hidden charges

• Choose an easy-to-use app if you’re a beginner

• Look for good customer support

A good Demat account should be safe, affordable, and easy to use.

Conclusion

A Demat account is essential for investing in the stock market safely and conveniently. The right broker can help you save money through low charges while offering smooth trading and useful features. Compare brokerage, AMC, and app experience before choosing.

Pick a Demat account that fits your goals and start your investment journey with confidence.

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FAQs – Top 10 Best Demat Accounts in India

1. What is a Demat account?

A Demat account stores your shares and securities in digital form for safe and paperless investing.

2. Is a Demat account mandatory in India?

Yes, a Demat account is compulsory to buy or sell shares on NSE and BSE.

3. How much does it cost to open a Demat account?

Many brokers offer free opening, while some may charge ₹0–₹1000.

4. What is AMC in a Demat account?

AMC is the yearly maintenance fee charged to keep your Demat account active.

5. What is the difference between a Demat and a trading account?

A Demat account stores shares, while a trading account is used to buy and sell them.

6. Which Demat account is best for beginners?

Groww, Zerodha, and Paytm Money are popular for beginners due to low charges and easy apps.

7. How many Demat accounts can I have?

You can open multiple Demat accounts with different brokers.