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Free Demat Account With No Annual Charges
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More Free Demat Accounts
Investors consider a lot of factors when looking for a stockbroker to open a Demat account. The accompanying costs often have a vital role in the decision. We know for a fact that nothing sounds better than the prospect of a free Demat account with no annual charges.
Annual charges are also known as Annual Maintenance Charges or AMC, as the name suggests, are the fees that stockbroker charges for maintaining your electronic Demat account.
This article discusses some of the stockbrokers who offer the hugely attractive facility of free Demat account no annual charges.
Also, read Demat Account Transfer in case you’d wish to transfer your account to a free demat account with no annual charges.
The Demat account offers the facility of storing securities like shares, bonds, debentures, etc in a digital form.
Lifetime Free Demat Account
While there are stockbrokers who open a Demat account for free, they make it up through the means of levying heavy AMC charges. Still, some stockbrokers offer the facility of a lifetime free Demat account.
We take a look at such brokers who offer investors a free Demat account with no annual charges.
Angel Broking Free Demat Account
Angel Broking, one of the leading full-service stockbrokers by default doesn’t offer a free Demat account for a lifetime. The stockbroker is affiliated with the leading stock exchanges of NSE, BSE, NCDEX, and MCX.
However, they do have exclusive offers in regards to offering an AMC free Demat account. By paying a one-time cost of ₹2500, you get exempted from paying AMC for Demat Account for a lifetime.
In case, you don’t feel like opting for the above-mentioned offer, they charge ₹699 as an annual charge on the Demat account.
SBI Free Demat Account
SBICAPS, short for SBI Capital Markets is the investment banking subsidiary of SBI.
For, if you wish to open SBI Demat account, your account will be opened with SBICAPS.
A Demat account with SBI isn’t exempted from annual charges. But, the fact that they don’t charge Demat account opening fees and their annual charge is merely ₹350 which is a discount as compared to other stockbrokers earns them a place on this list.
Also, you can open a Trading Account in SBI and reap its various benefit.
Zerodha Free Demat Account
Zerodha has a slogan that reads – The Discount Brokerage. That completely summarizes what they are and what they do.
Zerodha is the premium discount broker in India which offers investors to open a free Demat account with them. Zerodha doesn’t charge for opening a Demat account which in itself is quite a charm, but the annual maintenance charges of merely ₹300 further enhance the appeal.
Considering the annual charges can go as high as ₹1000 per year, Zerodha’s annual charges are truly a discount.
These features have indeed done their bit in bringing in more than 1.5 million investors who have opted for opening a free Demat account with the brokerage firm.
Upstox Free Demat Account
We have yet another discount broker on the list in the form of Upstox.
Now when it comes to Demat account opening, yet it is free as the broker does not charge any fees for Upstox sign up.
But there are specific AMC charges, deducted monthly.
These charges are equal to ₹25 per month.
Upstox has teamed up with IndusInd Bank and come up with the exciting offering of a 3-in-1 account. So, what more can you ask for?
Motilal Oswal Free Demat Account
Established in the year 1987, Motilal Oswal is one of the oldest and most trusted full services stockbrokers in the country.
Being in the business for more than 30 years speaks for itself, but any further discussion on this will require the mention of their 2 in 1 free Demat account online without AMC.
With the Motilal Oswal free Demat account, you are exempted from paying annual charges for the first year, however, you will be charged ₹400 as annual charges from the second year onwards.
IIFL Free Demat Account
Based in Mumbai, IIFL Securities is a full-service stockbroker known for its modern innovations relating to Demat account service, its comprehensive research reports, and reinventing trading platforms.
With IIFL, you can open a 2-in-1 account for free but the real delight is their AMC free Demat account.
IIFL runs various offers which vary the annual maintenance charges for an investor. But, generally, the AMC charges levied on a non-BSDA Demat account are ₹400.
The IIFL BSDA Account holders with holdings of more than ₹50000 in Demat account only have to pay annual charges of ₹100 while the one with less than ₹50000 can have a free Demat account with no annual charges.
The retail brokerage firm, Sharekhan enjoys a client base of around 1.4 million users. Sharekhan is counted among the premier stockbrokers of the country. Thus easy trading can be done with Sharekhan Trading.
2-in-1 Sharekhan account opening charges are nil. But, Sharekhan does charge annual maintenance charges.
The AMC charges vary depending on the type of Demat account you opt to open with them. But, the minimum annual charge with Sharekhan is ₹400 and can go as high as ₹500.
ICICI Direct Free Demat Account
ICICI bank, the largest private sector bank in India extends its trading services in the form of ICICI Direct. ICICI Direct is a full-service stockbroker.
ICICI Direct offers a lucrative option to open a 3-in-1 account. The Demat account can be opened free of cost. However, the account opening charges in ICICI Direct are a costly ₹975 for a trading account.
Besides, the annual charges for the ICICI Direct Demat account vary depending upon the mode of the statement. A statement made through Email will cost you AMC charges of ₹500, whereas a physical statement will cost you ₹600 as annual maintenance charges.
Samco Free Demat Account
Established in the year 2015, the discount broker is relatively younger than most of the stockbrokers on this list. But, the quality and options it offers in the trading market make it hard for us to ignore them.
The stockbroker originally has earned their reputation in offering low brokerage rates, another worthy offering is their Samco free Demat account. Customers usually opt for their 2-in-1 account.
Samco lifetime free Demat account has annual charges of ₹400 for individual customers.
Corporate Demat account holders will be required to pay ₹800 as annual maintenance charges.
Thus, with SAMCO you cannot have a free Demat account with no annual charges.
HDFC Securities Free Demat Account
HDFC Securities is among the leading stockbrokers in the country with over 2 million customers. HDFC Securities is the stockbroking wing of the HDFC bank.
Established in 2000, HDFC Securities has been active in the Indian stock market for around 20 years and has earned a huge client base at the back of its quality features such as the 2-in-1 account and 3-in-1 account.
Both the accounts don’t have an account opening charge and are exempt from paying the annual maintenance charge of ₹750 for the first year.
Later, the AMC charges depend on the number of transactions. Higher the number of transactions, the lower the annual charges are.
Here you can look for the plan that offers a free demat account with no annual charges.
Kotak Securities Free Demat Account
Kotak Securities is the dedicated wing of Kotak Bank that offers stockbroking services in India. The bank-based full-service stockbroker possesses a huge client base of more than 13.5 lakhs in India.
They offer the option of opening a 3-in-1 account with them, which won’t cost you a penny. Kotak Securities Demat account can be opened for free, however, there are account maintenance charges that need to be paid every month.
AMC charges for Indian Residents are ₹50 per month, while Non-Resident Indians are charged ₹75 every month for availing the Demat account service.
Thus, there are only a few brokers who offer a free Demat account with no annual charges.
If you are interested in opening a Demat account and unsure about where to invest. Then, you can check out Demat Account Types.
Conclusion
Demat Account is the prime requisite for entering into the stock market and Demat Account Features helps you to make reliable decisions. There are a plethora of stockbrokers registered with the depositories CDSL, NSDL who offer the services of a Demat account.
While some offer a free Demat account with no opening charges, the market also sees the presence of stockbrokers who offer the facility to open a free Demat account with no annual charges, thus you can enjoy the benefit of a lifetime free Demat account.
Other than this, you can opt for a better solution and alternatives if you do not have complete documents like an Aadhar card. Know how you can open a demat account without Aadhar Card and reap the leverage of Free demat account opening.
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