Demat Account Opening Charges

The trading journey is initiated by opening a Demat account with the best stock broker in India? But wait! What defines the best? Well! It is the services, brokerage, trading app, and lots more. Along with this, the Demat account opening charges details help you in narrowing your research. 

In this article, we are discussing the account opening fees of top full-service and discount brokers in the industry. 

Let’s start by understanding what charges for Demat account are. 

What are Demat Account Opening Charges?

In simple terms, when you open a Demat account with any broker, they offer their assistance and help you throughout the process till you start trading. So a minimum fee is imposed for the platform, this is known to be the account opening charges. 

Along with this comes the account maintenance charges that are levied to keep your Demat account active. Now the brokers ask you to pay AMC on a monthly, quarterly, or yearly basis depending on the stockbroker. 

Please note that the account opening charges are paid just once at the time of opening your new Demat account, whereas account maintenance charges are paid throughout your trading journey after a certain period of time.

Many brokers offer free Demat account where they give a 2-in-1 or 3-in-1 account facility that includes your Demat account, trading account as well as bank saving account. While some offer free AMC for the first year of trading. 

Now that we have understood why these charges are imposed, let’s look at some of the renowned brokers for Comparison of Demat account charges, which includes Account opening Charges and Account Maintenance Charges.

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Demat account Opening Charges List

Deciding when to start is easy but choosing a perfect stockbroker takes a lot more. You need to study each and every broker to find your Perfect Match! 

Considering the list of top stockbrokers, there are many offering full services while the other renowned brokers offer the discount brokerage plan. 

Here the choice is important as the one offering a free account with no annual charges sometimes charges high brokerage while others like Zerodha although charges for opening an account but come with minimal brokerage charges for traders. 

Similarly, there are many more. Here we have picked the top stockbrokers, so let’s have a quick glance at how they differ from each other in terms of the Demat account charges. 

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Zerodha Demat Account Opening charges

As we know Zerodha founded in 2010 is a discount broker that offers you a 3 in 1 account facility, with a savings bank account in IDFC First bank. 

Since Zerodha has a membership of NSE, BSE, and MCX, it offers you trading in equity, currency as well as commodities, etc. 

Here to get into the trade, the broker charges the fees of ₹200 for the equity account while for the commodity trading account the Demat account charges are ₹300+GST. 

 

Nevertheless, we mustn’t forget its tough competitors that happened to be among the popular list. Zerodha is the star among the stockbrokers, with advanced technology and seamless platforms, there is no doubt that it is the trader’s first choice.

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Upstox Demat Account Opening Charges

Upstox is also a discount broker founded in 2011, and like Zerodha, offers you 3 in 1 account with an Indusind savings bank account. Facilitating trading in equity, currency, and commodities. Which is the basic requirement of any trader or investor.

Upstox is registered with CDSL with a membership of NSE, BSE, and MCX.

And as per the table, Upstox charges a flat fee of ₹249 for opening a new Demat account and a monthly AMC of ₹25 + GST.

 

Now, since both Zerodha and Upstox are the oldest brokers that come up and popularize the discount brokerage model, they both charge certain fees for opening a Demat account.

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Demat Account Opening Charges Groww

Another discount broker on the list, Groww, comes up with Zero account opening fees for its client. Groww, known for the mutual fund investment has now evolved as the stockbroker in the industry.

No doubt the broker has earned great fame in a short time because of its minimal charges and zero Demat fees.

Here is the detail of the Groww Demat account opening fees in the table below:

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5paisa Demat Account Opening Charges

Unlike the above two discount brokers, 5paisa comes up with some additional benefits like the Free account opening. 

Established in 2016, the broker offers the trading opportunity in all the segments and offers the 2-in-1 account facility where you can have the Demat account and trading account services. 

Talking about the account maintenance charges, here again, the broker offers flexibility where you have to pay the fees ₹0-₹25 per month depending upon the holdings in your Demat account. 

So, if you are looking for a discount broker, with the Free account opening facility and minimum AMC, then it is the one you can go for. 

The complete details of the opening charges. 

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Now trade at the lowest brokerage by opening a Demat account for FREE! 

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Angel Broking Demat Account Opening Charges 

Now here we have our most preferable full-service broker. This means this broker offers you all facilities as any discount broker along with research and advisory services to its users or traders. 

And it’s none other than Angel Broking that was found in 1987, clearly older than any other we have seen so far in the list. 

The interesting part is despite great features it offers free account opening and free AMC for the first year. And from the second year onwards a charge of ₹20 + GST will be levied as AMC per month, which is less than Zerodha. 

Grab complete detail of charges imposed on Angel Broking demat account from the table below:

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 Sharekhan Demat Account Opening Charges

Founded in the year 2000, it is a full-service broker. Sharekhan is a depository participant of both NSDL and CDSL with the membership of  NSE, BSE, MSEI, and MCX providing trade segments like currency, equity, derivatives, commodities, IPOs, etc. 

And like many full-service brokers, it offers free account opening and the AMC of ₹400 per annum which is paid in advance.

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 Motilal Oswal Demat Account Opening Charges

Motilal Oswal is yet another full-service broker founded in 1987, way before any discount broker came into existence. 

Registered with both depositories CDSL and NSDL, Motilal Oswal is a member of NSE, BSE, MCX, and NCDEX. Offering a wide range of segments to trade in, be it equity, currency, commodities or derivatives, etc. 

As tabulated, Motilal Oswal does not charge for new account opening and is also free for the first year in terms of account maintenance charges. However, a fee of ₹400 will be charged annually from the second year onwards. 

Also, Motilal Oswal has a special offer in which you can get zero account maintenance charges for a lifetime for a 25K margin or 3K value pack.

Moving further to a bank-based stockbroker. Let’s see what they offer to their customers! Now, this might seem tempting, but you must know that Motilal Oswal is known as one of the most expensive discount brokers.

You might be paying less in Account opening and AMC but do not forget to consider the other hidden charges like DP charges that might cost you much. 

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Now trade with the best advisory services of the renowned stockbroker of India, by opening a Demat account for FREE!

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Kotak Securities Demat Account Opening Charges

Finally, we’ve come across an older form of the broker, a bank-based full-service broker. These are known as the most traditional stockbrokers in the market.

Kotak Securities is a bank-based full-service broker founded in 1994. It is registered with both NSDL and CDSL and is a member of NSE and BSE, clearly does not offer trading in commodities. 

In terms of Account opening, they offer 3 in 1 account facilities with no opening charges but do impose account maintenance fees of ₹50 per month. 

 

This might seem less monthly, but yearly when you see it, it’s double what you pay in any other broker. Hence, unless you’re a fan of Kotak, you wouldn’t want to pay more charges than you actually earn.

However, the latest Trade Free Plan of Kotak Securities offers the traders to trade intraday without paying any charges. There are many more benefits of associating with the bank-based stockbroker like the reliability, the offline presence, and lots more. 

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SBI Demat Account Opening Charges

Who doesn’t know about our famous State Bank of India? SBI securities are one of its subsidiaries for trading and investing facilities. Well yes! It does have stockbroking services and like any other bank, it is a full-service stockbroker. 

Founded in 1944, SBI securities is registered with both NSDL and CDSL and is operating through 1000+ branches across the nation. 

Also, it is a member of NSE, BSE, and MCX thus allowing you to trade in equity, currency, commodity, etc segments. 

SBI offers a 3 in 1 account facility where you’ll be charged ₹850 plus KRA (as applicable) if you open an individual account. While it is ₹1000 plus KR (as applicable) if you go for a non-individual account.

Also, the account maintenance charges are ₹500 per annum and ₹750 per annum with the physical statement.

 

For professional traders, these banks might seem quite convenient but for millennials who don’t have much experience and capital with them yet, these might prove to be quite expensive and must not forget the risk appetite here. 

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HDFC Demat Account Opening Charges

Founded in 2000, HDFC Securities is yet another bank-based stockbroker offering full services to its clients. 

It is a member of all four exchanges namely, NSE, BSE, MCX, and NCDEX, and is registered with both depositories, CDSL and NSDL. Here in the tabular column, you’ll find its Demat account opening charges with the account maintenance charges. 

For the basic plan of HDFC, you will be charged an AMC of ₹750 per annum while for the Basic service Demat account you’ll have to pay between ₹0 to ₹750 p.a. Based on your holding value in the account.

On the other hand, the account opening fee is zero for both packages. 

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ICICI Demat Account Opening Charges

But when it comes to a user-friendly interface, you would definitely want to try the new brokers that come with advanced technologies like Algo trading, etc offering a much easier method to trade despite hectic job or study schedules.

ICICI Securities was established in 1995. It is a bank-based full-service broker, offering research and advisory facilities for traders and investors. 

As a member of NSE and BSE stock exchanges, it offers you seamless trading opportunities in equity, currency, and investing in mutual funds, etc with its 3 in 1 account facility. 

Account maintenance charges are levied based on the mode of statement as shown in the table. The regular Demat account AMC charges is ₹700 charged from the second year. However, if you opt for the NEO brokerage plan right, the AMC charges are reduced to ₹300 and are charged from the first year onwards. 

And like many other bank-based brokers, it also offers a FREE account opening under the NEO plan. For the standard account opening, the broker charges the fees of ₹975.  

 

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Conclusion

Finally, with the detail of account opening charges, many of you have gotten an answer for does demat account have charges, Right?

In the list of 10 stockbrokers, it is seen that mostly full-service stockbrokers offer a 3 in 1 account opening facility giving a trader Demat account with a trading account and a bank account. 

Additionally, they have Free account opening facilities. While in terms of account opening charges they usually offer ₹0 for the first year and then charge from the second year onwards.

When it comes to discount brokers that offer you a hand on experience of trading and investing generally levied charges for the technology they offer. 

Hence, definitely, you would want to choose the one that has lower charges, but do not miss out on other parameters like brokerage and margin before jumping to any conclusion. 

Hope you have a happy and profitable trading journey ahead!

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