A Demat account is a type of account used to hold and manage securities such as stocks, bonds, and mutual funds in electronic format. Anyone who wants to invest in the Indian stock market must first open a Demat account. You can open free Demat accounts with many brokers and financial institutions in India. This means there is no fee associated while opening an Demat account. Here are the brokers that offer free demat account openings:
- Angle one: You can open a demat account with them which is completely free. There are no account management fees for the first year. Through Angel One, you can invest in different securities like Stocks, Mutual Funds, Bonds, Currencies, Commodities, F&O, ETFs, and much more and is popular for its investment advisory services and user-friendly trading software. Also, there are zero charges lifetime for equity delivery trades.
- HDFC Securities: It is a well-known broker in India that provides customers with free Demat account opening services. Customers can open a Demat account with HDFC Securities without having to pay any account opening fees. To open an account, you just need to fill out an online application form and submit the required documents such as a PAN card, address proof, and identity proof.
- 5paisa: It is another popular stockbroker in India that offers free Demat account opening services to customers. Their brokerage pricing model is simple, they charge flat Rs. 20 for all the segments. And the best part is there are different accounts for different needs. They have a different demat for the investors who are between 18-23 years of age, named as “Younginvestor demat account”. Also, for married couples, they have a different account named “Plusone”. Both the demat accounts have zero account opening charges.
- ICICI Direct: ICICI Direct offers a 3-in-1 trading account that allows you to open a demat, trading, and bank account all in one. They have zero charges for account opening and also zero annual maintenance charges for the first year. As it is a full-service broker, so they provide a variety of products and services like PMS, mutual funds, retirement products, financial planning products, and much more.
Final Words
While the account opening is free, there may be some fees associated with trading and maintaining the account. Some brokers may charge fees for buying and selling securities, account maintenance fees, transaction fees, and other miscellaneous charges. In order to make an informed decision, it is crucial to conduct research and compare the different options, as well as review the fees and charges associated with each broker.
Reference — https://comparebrokeronline.com/
Source - https://medium.com/@deepakcomparebroker/free-demat-account-opening-in-india-879465198580
