Are you searching for the best bank Demat account charges comparison in 2025? With so many banks and brokers offering Demat accounts, it’s easy to feel lost in a maze of fees, hidden charges, and confusing terms. Whether you’re a new investor or a seasoned trader, understanding Demat account charges is essential to maximize your returns and avoid unnecessary costs.
This article breaks down the latest Demat account charges across top banks and brokers, highlights the best Demat account for 2025, and helps you make an informed decision. We’ve done the research, compared the numbers, and put Upstox at the top of our list for its transparent pricing and user-friendly features. Read on for a clear, unbiased, and up-to-date guide to Demat account charges in India.
Types of Demat Account Charges
When you open a Demat account with a bank or broker, you may encounter several types of charges:
- Account Opening Charges: One-time fee to open the account. Some banks and brokers now offer free account opening.
- Annual Maintenance Charges (AMC): Yearly fee to keep your account active, typically ranging from ₹300 to ₹800, but can be waived or reduced for small investors through BSDA (Basic Services Demat Account).
- Brokerage Charges: Fees for executing trades. Discount brokers usually charge a flat fee per order, while full-service brokers may charge a percentage of the trade value.
- Dematerialization/Rematerialization Charges: Fees for converting physical shares to electronic form and vice versa.
- DP (Depository Participant) Charges: Fees for holding and transacting securities, imposed on behalf of CDSL or NSDL.
- Off-market Transaction Charges: Fees for transferring securities between Demat accounts.
- Pledging Charges: Charges when securities are pledged as collateral.
Why Compare Demat Account Charges?
Opening a Demat account is the first step to investing in stocks, mutual funds, ETFs, and even commodities. But every broker and bank has its fee structure, including:
- Account opening charges
- Annual maintenance charges (AMC)
- Brokerage fees per trade
- Dematerialization and rematerialization charges
- DP (Depository Participant) charges
- Off-market transaction fees
- Pledging charges
These charges can eat into your profits if you’re not careful. Comparing them helps you pick the most cost-effective option for your trading style-whether you’re a casual investor or an active trader.
Top 7 Bank & Broker Demat Accounts for 2025
Below is our curated list of the best Demat accounts in India for 2025. We’ve compared all the key charges, features, and user benefits to help you decide.
1. Upstox
Introduction
Upstox is one of India’s leading discount brokers, known for its flat-fee structure, robust trading platforms, and transparent charges. Upstox is SEBI-registered and offers a seamless experience for both beginners and advanced traders.
Why Choose Upstox?
- Flat ₹20 per order across all segments (equity, F&O, commodity, currency)5.
- Zero account opening charges.
- Low annual maintenance charges (AMC).
- Advanced trading tools and a mobile app.
- Trusted by millions of Indian investors.
Key Features
- Equity Delivery: ₹20 per executed order
- Equity Intraday: ₹20 or 0.05% per order, whichever is lower
- F&O, Currency, Commodity: Flat ₹20 per order
- AMC: ₹150 + GST (waived for new accounts as per offer)
- Dematerialization: ₹200 per share certificate + courier
- DP Charges: ₹20 + GST per debit transaction
- Free account opening
- Fast digital KYC and onboarding
2. Zerodha
Introduction
Zerodha is India’s largest discount broker and a pioneer in low-cost trading. It is popular for its advanced trading platforms and transparent fee structure.
Why Choose Zerodha?
- Zero brokerage on equity delivery.
- Flat ₹20 per trade for intraday and F&O.
- Free online account opening.
Key Features
- Account Opening: Free (online)
- AMC: ₹300/year + GST (waived for BSDA accounts with holdings < ₹4 lakh)
- Demat/Remat: ₹150 per certificate + courier
- Brokerage: ₹0 for delivery, ₹20/trade for intraday, F&O
3. Angel One
Introduction
Angel One (formerly Angel Broking) is a full-service broker with a strong branch network and a wide range of investment products.
Why Choose Angel One?
- Zero brokerage for the first 30 days (up to ₹500)
- Flat ₹20 per order after the introductory period
- Good for beginners and those seeking advisory services
Key Features
- Account Opening: Free
- AMC: ₹60/quarter + GST (waived for BSDA with holdings < ₹4 lakh)
- Demat/Remat: ₹50 per certificate + CDSL charges
- Brokerage: ₹0 (first 30 days), then ₹20/order
4. 5paisa
Introduction
5paisa is a popular discount broker offering competitive pricing and a user-friendly app.
Why Choose 5paisa?
- Free account opening
- Low AMC for small portfolios
- Flat ₹20 per order brokerage
Key Features
- Account Opening: Free
- AMC: ₹25/month (waived for BSDA with holdings < ₹50,000)
- Demat/Remat: ₹15 per certificate
- Brokerage: ₹20/order
5. Groww
Introduction
Groww is a fast-growing broker known for its simple interface and zero account opening charges.
Why Choose Groww?
- No account opening or AMC charges
- Flat ₹20 per order brokerage
- Easy-to-use app
Key Features
- Account Opening: Free
- AMC: Free
- Demat/Remat: ₹150 per certificate + courier
- Brokerage: ₹20/order
6. ICICI Direct (3-in-1 Account)
Introduction
ICICI Direct offers a 3-in-1 account (bank, trading, demat), making fund transfers seamless.
Why Choose ICICI Direct?
- Integrated banking and trading
- Trusted brand and wide branch network
- Suitable for those who prefer full-service brokers
Key Features
- Account Opening: Charges apply (varies by plan)
- AMC: ₹300-₹700/year
- Brokerage: Higher than discount brokers (percentage-based)
- Demat/Remat: ₹50-₹100 per certificate
7. HDFC Securities (3-in-1 Account)
Introduction
HDFC Securities is another major full-service broker with a 3-in-1 account.
Why Choose HDFC Securities?
- Seamless integration with HDFC Bank
- Good customer support and research
Key Features
- Account Opening: Charges apply
- AMC: ₹750/year
- Brokerage: Higher than discount brokers
- Demat/Remat: ₹50-₹100 per certificate
Demat Account Charges Comparison Table (2025)
| Broker | Account Opening | AMC (Annual) | Demat/Remat Charges | Brokerage (Equity Delivery) | Brokerage (Intraday/F&O) | DP Charges (per debit) |
|---|---|---|---|---|---|---|
| Upstox | Free | ₹150 + GST (waived for new) | ₹200/share certificate + courier | ₹20/order | ₹20/order or 0.05% | ₹20 + GST |
| Zerodha | Free | ₹300 + GST (waived for BSDA) | ₹150/share certificate + courier | ₹0 | ₹20/order or 0.03% | ₹13 + ₹5.50 (CDSL) |
| Angel One | Free | ₹60/quarter + GST (waived for BSDA) | ₹50/share certificate + CDSL | ₹0 (first 30 days) | ₹20/order | ₹20 |
| 5paisa | Free | ₹25/month (waived for BSDA) | ₹15/share certificate | ₹20/order | ₹20/order | ₹12.50 |
| Groww | Free | Free | ₹150/share certificate + courier | ₹20/order | ₹20/order | ₹13.5 |
| ICICI Direct | ₹0-₹975 | ₹300-₹700 | ₹50-₹100/share certificate | 0.55% (min ₹35) | 0.05% (min ₹25) | ₹20 |
| HDFC Securities | ₹999 | ₹750 | ₹50-₹100/share certificate | 0.50% (min ₹25) | 0.05% (min ₹25) | ₹25 |
How to Choose the Best Demat Account
When picking a Demat account, consider these factors:
- Trading Frequency: Active traders benefit from flat-fee brokers like Upstox or Zerodha.
- Type of Broker: Discount brokers offer low fees, while full-service brokers provide research and advice.
- Account Maintenance Charges: Look for free or low AMC, especially for small portfolios (BSDA).
- Ease of Use: A robust mobile app and web platform are essential.
- Customer Support: Fast and reliable support matters if you face issues.
- Commodity Trading: If you want to trade commodities, check if the broker is a registered commodity broker in India.
- 3-in-1 Account: If you prefer seamless banking and trading, consider banks like ICICI Direct or HDFC Securities.
Strategies to Find the Cheapest Demat Account Charges
Finding the cheapest Demat account charges in India requires a systematic approach. Here are proven strategies, supported by the latest industry data and expert recommendations:
1. Compare All Types of Charges, Not Just Brokerage
- Account Opening Charges: Some brokers offer free account opening, while others may charge a one-time fee.
- Annual Maintenance Charges (AMC): Many brokers provide zero AMC for small portfolios (BSDA accounts), but charge higher for larger holdings.
- Brokerage Fees: Discount brokers like Zerodha, Upstox, and Groww offer flat rates (as low as ₹20 per order), while full-service brokers often charge a percentage of transaction value.
- Other Fees: Check for dematerialization/rematerialization, DP charges, off-market transfers, and pledging charges.
2. Prioritize Discount Brokers
- Discount brokers such as Zerodha, Upstox, 5paisa, and Groww consistently offer the lowest brokerage and AMC in India.
- For example, Zerodha and Groww charge ₹20 or less per order for equity trades and often have zero or minimal AMC for small holdings.
3. Leverage BSDA (Basic Services Demat Account) Benefits
- If your holdings are below ₹4 lakh, opt for a BSDA account to enjoy zero or reduced AMC.
- Many brokers and banks offer tiered AMC based on the value of your holdings, so review these slabs carefully.
4. Use Comparison Tables and Online Tools
- Refer to up-to-date comparison tables from trusted sources to check all fees side by side.
- Look for platforms that list account opening fees, AMC, brokerage, and other charges for each broker.
5. Check for Promotional Offers
- Some brokers waive account opening or AMC charges during promotional periods or for new customers.
- Always check the broker’s website for the latest offers before applying.
6. Evaluate Trading Platforms and Hidden Costs
- Choose brokers with reliable, user-friendly trading platforms to avoid indirect costs like missed trades or slow execution.
- Read the fine print for hidden fees, such as charges for statements, failed transactions, or account closure.
7. Assess Customer Support and Service Quality
- Good customer service can save you time and money if issues arise.
- Consider brokers with responsive support via phone, email, or chat.
8. Confirm SEBI Registration and Security
- Only open accounts with SEBI-registered brokers to ensure regulatory compliance and investor protection.
Frequently Asked Questions (FAQs): Demat Account Charges in India
What is the cheapest Demat account in India?
Upstox and Zerodha offer some of the lowest charges, with free account opening and flat ₹20 per order brokerage.
How can I close my Demat account?
Submit a closure form to your broker. Some may charge a nominal fee for closure or transfer of holdings.
Can NRIs open Demat accounts?
Yes, but charges and documentation may differ for NRI accounts.
Are there hidden charges in Demat accounts?
Always check for dematerialization, rematerialization, and off-market transfer charges in the fee schedule.
What is BSDA?
BSDA (Basic Services Demat Account) is for small investors and has lower or zero AMC for holdings below ₹4 lakh.
Are there Demat accounts with zero AMC?
Yes, Groww and some BSDA accounts offer zero AMC for small portfolios.
What is a 3-in-1 account?
A 3-in-1 account links your bank, trading, and Demat accounts for easy fund transfers (e.g., ICICI Direct, HDFC Securities).
Which broker is best for commodity trading?
Upstox and Zerodha are top commodity brokers in India, offering a flat ₹20 per order for commodity trades.
Can I open a Demat account online?
Yes, most brokers like Upstox, Zerodha, and Groww offer 100% digital account opening.
What are DP charges?
DP charges are fees for debiting securities from your Demat account, usually ₹13-₹20 per transaction.
Conclusion: Choose Smart, Save More
Comparing bank Demat account charges is crucial for every investor. In 2025, Upstox stands out as the best choice for most users, thanks to its transparent pricing, flat fees, and advanced trading tools. Whether you’re an active trader or a long-term investor, picking the right Demat account can save you money and simplify your investment journey.
Ready to open your account? Start with Upstox and experience hassle-free investing!
