Just few years back in India, brokers used to charge hefty amount not only as brokerage but also for opening the account. On top of that, there used to be yearly Annual Maintenance Charges (AMC) even if you dont use your demat account.
But times have changed. Now many stock brokers offer lifetime free demat accounts to cater to the needs of cost-conscious investors.
In this article, we will explore into four prominent players in the market who provide free demat account with zero AMC charges and see what makes them stand out.
Best Life Time Free Demat Account With Zero AMC Charges – 2024
List of Lifetime free demat account available in India with No account Opening Charges and Zero AMC Charges,
| Ranking | Free Demat Account Name | Ratings |
| 1 | Upstox Demat Account | 9.72/10 |
| 2 | FYERS Demat Account | 9.61/10 |
| 3 | AngelOne Demat Account | 9.52/10 |
| 4 | Groww Demat Account | 9.41/10 |
We will provide comparison table of all the four demat account at the end of this article for easy understanding of charges.
1. Upstox
Upstox has emerged as a prominent player in the online trading space, offering a lifetime free demat account. They have emerged as major player in India with more than one crore investors.
The platform provides a seamless experience for investors with its user-friendly interface and robust trading tools.
With a focus on cost reduction, Upstox stands out with its no-cost brokerage and zero-fee trading options.
- Account Opening Charges: NIL
- Annual Maintenance Charges : Zero
Apart from zero charges, there is no brokerage for delivery segment. Only when you buy and sell the shares on same day, then brokerage is charged. Otherwise brokerage remain Zero.
Check out more about Upstox in our detailed review.
Advantages for Cost-Conscious Investors:
- No-cost brokerage and zero-fee trading.
- Paperless trading with electronic demat accounts.
- Fast and secure transactions.
Upstox Demat Account – Brokerage Charges:
2. Fyers Free Demat Account
Fyers is another contender for lifetime free demat and trading accounts, providing investors with a platform for zerod commission trading.
The platform’s commitment to transparency and simplicity makes it an attractive option for those looking to minimize costs in their stock market endeavors.
- Account Opening Charges: NIL
- Annual Maintenance Charges : Zero
Check out more about Fyers Securities in our detailed review.
Advantages for Cost-Conscious Investors:
- Zero Commission demat account.
- Transparent and user-friendly investment platform.
- Security in stock trading with two-factor authentication.
Disadvantage is that they do not offer 3 in 1 demat account in which demat, trading and savings account are integrated.
FYERS Brokerage Charges:
3. Angel One
Angel One has established itself as a comprehensive investment platform, offering a lifetime free demat account to its users.
With a diverse range of investment options, including stocks, mutual funds, IPOs, and NCDs, Angel One caters to the varied needs of investors.
- Account Opening Charges: NIL
- Annual Maintenance Charges : Zero for first year (Rs20/month from second year onwards)
Check out more about Angel One in our detailed review.
Though the AMC is charged from second year onwards, we feel that it is minimal when compared to other brokers who charge in the range of Rs800-Rs1000 per year.
Advantages for Cost-Conscious Investors:
- Diverse investment options, including mutual funds and IPOs.
- No annual maintenance charge (AMC) for the demat account.
- Digital payment methods for seamless transactions.
Angel One Demat Account – Brokerage Charges:
4. Groww
Groww has gained popularity as a platform that simplifies investing, making it accessible for beginners. The platform offers a lifetime free demat account with no AMC, making it an attractive choice for those taking their first steps into the stock market.
- Account Opening Charges: NIL
- Annual Maintenance Charges : Zero
Check out more about Groww in our detailed review.
Advantages for Cost-Conscious Investors:
- No annual maintenance charge for the demat account.
- Beginner-friendly interface for easy navigation.
- Savings in costs through discounted stockbroking.
Groww Demat Account – Brokerage Charges:
Comparision Table of All 4 Demat Accounts:
Here is the compaison of the demat accounts,
| Criteria | Upstox | Fyers | Angel One | Groww |
|---|---|---|---|---|
| Account Opening Charges | NIL | NIL | NIL | NIL |
| Annual Maintenance Charges (AMC) | Zero | Zero | Zero for the first year (Rs20/month from the second year onwards) | Zero |
| Equity Delivery | ₹20 or 2.5% (whichever is lower) | Zero | Zero | 0.05% or Rs 20/trade (whichever is lower) |
| Equity Intraday | 0.05% or Rs 20/trade (whichever is lower) | 0.03% or Rs 20/trade (whichever is lower) | 0.25% or Rs 20/trade (whichever is lower) | 0.05% or Rs 20/trade (whichever is lower) |
| Equity Futures | 0.05% or Rs 20/trade (whichever is lower) | 0.03% or Rs 20/trade (whichever is lower) | 0.25% or Rs 20/trade (whichever is lower) | Rs 20/trade |
| Equity Options | Rs 20/trade | Rs 20/trade | 0.25% or Rs 20/trade (whichever is lower) | Rs 20/trade |
Choosing the Right Demat Account: Factors to Consider
- Security: Understanding the security features, including two-factor authentication and electronic safekeeping of securities.
- Costs: Evaluating brokerage costs, security deposits, and any hidden charges associated with the demat account.
- Investment Options: Assessing the range of investment options, such as equities, mutual funds, bonds, and IPOs.
- User-Friendly Interface: Considering the ease of use, especially for beginners, in terms of account activation and ongoing transactions.
- Reputation: Exploring the reputation of the broker in terms of reliability and customer satisfaction.
Conclusion:
In India stock market investing, opting for a lifetime free demat account is a prudent choice for cost-conscious investors.
Upstox, Fyers, Angel One, and Groww stand out as reliable options, each offering unique features that cater to different investor preferences.
Investors should also consider factors like security, costs, investment options, user-friendliness, and reputation while choosing the demat account.
These demat accounts provide a perpetual advantage for investors seeking enduring financial success.
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Frequently Asked Questions (FAQs)
Q1. What is a Lifetime Free Demat Account?
Answer: A Lifetime Free Demat Account is a type of demat account that doesn’t incur any account opening charges and comes with zero annual maintenance charges (AMC) for the entire tenure.
Q2. How does a Lifetime Free Demat Account benefit investors?
Answer: Investors benefit from this type of Demat Account by minimizing costs associated with account maintenance and transactions, making it an economical choice for long-term investment goals.
Q3. Are there any hidden charges in a Free Demat Account?
Answer: No, Free Demat Accounts are designed to be transparent with no hidden charges. Account holders only need to be aware of the applicable brokerage charges for specific transactions.
Q4. Can I trade all types of securities with a Free Demat Account?
Answer: Yes, a Free Demat Account allows you to trade a variety of securities, including stocks, mutual funds, IPOs, bonds, and more, depending on the offerings of the respective brokerage platform.
Q5. How does a Free Demat Account differ from regular demat accounts?
Answer: The key difference lies in the cost structure. Free Demat Accounts waive account opening charges and annual maintenance charges, offering a cost-effective alternative to traditional demat accounts.
Q7. Are there any limitations to a these kind of Demat Account?
Answer: Generally, these Demat Accounts have similar features as regular demat accounts. However, investors should check for specific terms and conditions, especially regarding brokerage charges for different segments.
Q8. How to open a Lifetime Free Demat Account?
Answer: To open a Lifetime Free Demat Account, choose a brokerage platform that offers this option, visit their website, and follow the account opening procedures. Submit the required documents online, and your account will be activated.
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