Do you get sick of paying annual maintenance fees which stealthily eat into your returns on your investment? A lifetime free demat account may be the answer you are looking for. Traditional brokers who will charge you between ₹300 and ₹900 annually just to keep your demat account active can be a huge burden on long-term investors, especially the ones with smaller portfolios. Our financial experts have examined the latest offerings from the country’s best brokers to find real AMC-free demat accounts that actually live up to their claim of lifetime charges of zero. This guide goes through marketing gimmicks to tell you which brokers actually provide free demat accounts in India with no hidden fees so that you can maximize your returns on investment in 2025 and beyond.
What is a Lifetime Free Demat Account (AMC Free)
A demat account that is free for a lifetime, also known as an AMC-free or zero AMC demat account-is an example of a dematerialized account in which the investor does not have to pay any Annual Maintenance Charges (AMC) to keep securities such as stocks, mutual funds, and bonds in an electronic form. This makes it an affordable option for new and experienced investors who would like to avoid paying recurrent account maintenance fees.
Top 7 Lifetime Free Demat Accounts in 2025
1. Upstox
Upstox leads the pack with its truly lifetime free demat account that delivers on its zero-fee promise without compromising on features or service quality. As one of India’s fastest-growing discount brokers, Upstox has eliminated traditional cost barriers to stock market participation.
Why Choose Upstox: Upstox stands out by offering a genuine zero AMC demat account with no hidden annual charges or conditions. Unlike competitors who waive fees only for active traders, Upstox maintains its zero-fee structure regardless of your trading frequency. Their platform combines this cost advantage with cutting-edge technology, providing a smooth investing experience for both beginners and experienced traders alike. The broker’s 2025 upgrade introduced enhanced security features and faster trade execution, making it the most value-packed free demat account in India.
Key Features:
- Absolutely zero annual maintenance charges for a lifetime
- No minimum balance requirements to maintain free status
- Free digital contract notes and statements
- Paperless account opening in under 10 minutes
- Integrated 3-in-1 account (savings, trading, and demat)
- Advanced charting tools with 100+ indicators
- High-speed trading platform with 99.7% uptime
- Free investor education resources and webinars
- Zero account opening or closure fees
2. Zerodha
Zerodha continues to revolutionize the Indian broking industry with its transparent pricing structure and technology-first approach. Their demat account offering focuses on eliminating unnecessary costs while delivering professional-grade trading tools.
Why Choose Zerodha: Zerodha offers an AMC-free demat account structure for active investors who execute at least one trade per year. Their Kite platform delivers institutional-grade trading tools to retail investors, backed by robust educational resources through Varsity. With over 10 million clients as of 2025, Zerodha’s reliability and service quality have been tested at scale, making it a trustworthy choice for investors seeking a lifetime free demat account.
Key Features:
- Zero AMC for demat accounts with at least one trade annually
- No account opening charges
- Flat ₹20 per executed order, regardless of volume
- Advanced charting with 100+ indicators and drawing tools
- Basket orders and GTT (Good Till Triggered) orders
- Free APIs for algo trading
- Console for portfolio analytics and tax reporting
- Instant fund transfer using UPI
- Award-winning mobile trading app
3. Groww
Groww has rapidly evolved from a mutual fund platform to a comprehensive investment ecosystem offering a truly free demat account in India. Their user-friendly interface makes them particularly appealing to first-time investors and millennials.
Why Choose Groww: Groww has disrupted the market with its completely free demat account offering that has no hidden charges or trading requirements. Their investment platform simplifies the investing process with intuitive interfaces and educational content integrated directly into the trading experience. Groww’s recent introduction of advanced portfolio analytics tools in 2025 provides investors with institutional-grade insights without the premium price tag.
Key Features:
- Zero account opening and maintenance charges
- No minimum balance requirements
- Free equity delivery trades
- Easy-to-understand interface ideal for beginners
- Comprehensive stock screeners and filters
- Integrated IPO application system
- Portfolio insights with performance metrics
- Goal-based investing tools
- Paperless account opening process
4. Angel One
Angel One (formerly Angel Broking) has transformed from a traditional broker to a fintech-forward platform offering competitive pricing including a conditional lifetime free demat account option.
Why Choose Angel One: Angel One offers zero AMC on demat accounts for clients who maintain a specified portfolio value or trading frequency. Their SmartAPI platform gives tech-savvy investors the tools to build custom trading solutions, while their extensive branch network provides in-person support for those who prefer traditional service channels. The broker’s 2025 platform upgrade introduced AI-powered stock recommendations and portfolio optimization tools.
Key Features:
- Zero AMC for demat accounts with quarterly trades or minimum portfolio
- Free equity delivery trading
- SmartAPI for algorithmic trading
- ARQ Prime AI-powered investment advisor
- Physical branches for in-person support
- Good margin rates for F&O trading
- Real-time market scanners
- Dedicated relationship managers for premium clients
- Multiple trading platforms (web, mobile, desktop)
5. 5paisa
5paisa established itself as one of India’s most affordable discount brokers and maintains this position in 2025 with its AMC free demat account offerings aimed at cost-conscious investors.
Why Choose 5paisa: 5paisa delivers outstanding value with its completely free demat account that has no annual maintenance charges regardless of trading activity. The broker focuses on keeping costs minimal while providing essential trading tools and research. Their 2025 platform update introduced enhanced technical analysis features and improved order execution speed, addressing previous limitations while maintaining their budget-friendly approach.
Key Features:
- Zero AMC with no conditions attached
- Among the lowest brokerage rates in the industry
- Robo-advisory services at affordable rates
- Margin trading facility at competitive interest rates
- Free research calls and market news
- Auto-generated tax P&L reports
- Multi-language support for regional investors
- UPI-based instant fund transfers
- Competitive IPO financing options
6. Dhan
Dhan is a relatively newer entrant that has quickly gained popularity among active traders for its performance-focused platform and lifetime free demat account offering.
Why Choose Dhan: Dhan offers zero AMC on demat accounts for clients who maintain minimum quarterly activity. Their platform stands out for its lightning-fast execution speeds and professional-grade trading tools previously available only to institutional investors. Their 2025 update introduced custom scanning tools and enhanced derivatives trading features that appeal particularly to day traders and options strategists looking for a free demat account in India.
Key Features:
- Zero AMC with minimum quarterly activity
- Super-fast order execution (under 5ms)
- Advanced options analytics and strategy builder
- Custom stock scanners with real-time alerts
- Dark mode and customizable interface
- Single-click basket trading
- Detailed derivatives data visualization
- Advanced charting with custom indicators
- Smart order routing across exchanges
7. ICICI Direct
ICICI Direct represents the full-service broker category with its conditional AMC free demat account option backed by comprehensive research and banking integration.
Why Choose ICICI Direct: ICICI Direct offers AMC waiver options for clients who maintain specified portfolio values or trading frequencies. While not unconditionally free like some discount brokers, they compensate with extensive research coverage, investment advisory services, and seamless integration with ICICI Bank accounts. Their 2025 platform enhancement introduced improved portfolio analytics and goal-based investing tools that add significant value beyond basic trading capabilities.
Key Features:
- Conditional AMC waiver based on portfolio value or activity
- Integrated 3-in-1 account with instant fund transfers
- Comprehensive research covering over 250 companies
- Dedicated relationship manager
- Portfolio health check and rebalancing recommendations
- Pre-IPO investments through INVITs and ReITs
- Exclusive investment opportunities for premier clients
- Margin trading at competitive rates
- Multiple payment options for fund transfers
Comparison Table of Lifetime Free Demat Accounts
| Broker | AMC | Conditions for Free AMC | Account Opening Fee | Brokerage (Equity Delivery) | Free Equity Delivery | Mobile App Rating | Customer Support |
|---|---|---|---|---|---|---|---|
| Upstox | ₹0 | None | ₹0 | 0.05% | No | 4.5/5 | 24/7 |
| Zerodha | ₹0 | Min 1 trade per year | ₹0 | 0% | Yes | 4.7/5 | Email + Chat |
| Groww | ₹0 | None | ₹0 | 0% | Yes | 4.6/5 | 24/7 |
| Angel One | ₹0 | Quarterly trading or min. portfolio | ₹0 | 0% | Yes | 4.4/5 | 24/7 + Branches |
| 5paisa | ₹0 | None | ₹0 | 0.10% or ₹20 flat | No | 4.0/5 | 24/7 |
| Dhan | ₹0 | Min quarterly activity | ₹0 | 0% | Yes | 4.3/5 | Email + Chat |
| ICICI Direct | ₹0-750 | Portfolio value or activity based | ₹0* | 0.25% | No | 4.2/5 | 24/7 + RM |
Comparison: Lifetime Free vs Traditional Demat Account
| Feature | Lifetime Free Demat Account | Traditional Demat Account |
|---|---|---|
| Annual Maintenance Fee | ₹0 (Zero AMC) | ₹100–₹1,000 per year (typical) |
| Entry Barrier | Low | Moderate |
| Inactivity Penalty | None | Possible |
| Other Charges | May apply | May apply |
| Best For | Long-term/passive investors | Active traders, frequent users |
How to Open a Lifetime Free Demat Account
- Choose a Broker/Depository Participant (DP): Select a broker offering zero AMC demat accounts.
- Complete KYC: Submit required documents (Aadhaar, PAN, address proof, etc.) and complete the KYC process.
- Account Activation: Once verified, your account is activated and ready to use.
How to Choose the Best Lifetime Free Demat Account
Understand the True Definition of “Free”
Not all free demat accounts in India are truly free. Look for:
- Zero annual maintenance charges without conditions
- No minimum balance requirements
- No hidden inactivity fees
- Transparent brokerage structure
- Free digital contract notes and statements
Evaluate Trading Costs Beyond AMC
While AMC is important, consider total cost of ownership:
- Brokerage rates on different segments
- Transaction charges
- Payment gateway fees
- Pledge/unpledge charges
- Demat transaction charges (for selling)
- Account closure fees
Consider Platform Features and Stability
A truly valuable lifetime free demat account combines zero costs with:
- Reliable uptime (99%+)
- Fast order execution
- User-friendly interface
- Comprehensive market data
- Effective customer support channels
- Mobile trading capabilities
Assess Additional Value-Added Services
Look for brokers offering:
- Free research reports
- Educational resources
- Portfolio analytics
- Tax P&L statements
- User-friendly fund transfers
- IPO application facilities
Check Security and Compliance Features
Ensure your chosen broker provides:
- Two-factor authentication
- Device verification
- SEBI registration and compliance
- Insurance on securities
- Transparent grievance redressal
- Strong track record of regulatory compliance
Frequently Asked Questions (FAQs)
What is the difference between a free demat account and a traditional demat account?
A lifetime free demat account waives the annual maintenance charges (AMC) that traditional demat accounts charge, which typically range from ₹300 to ₹900 per year.
Can I open multiple free demat accounts?
Yes, you can open multiple free demat accounts in India with different brokers, though SEBI regulations require completing KYC for each account.
How do I transfer my existing investments to a free demat account?
You can transfer your holdings through the account closure and transfer process, which involves filling out DIS (Delivery Instruction Slip) forms with your current broker.
What happens if I don’t trade regularly with a conditional free demat account?
Brokers that offer conditional AMC waivers typically charge the standard AMC fee if you don’t meet their specified trading frequency or portfolio value requirements.
Are there truly no hidden charges with these free demat accounts?
While the AMC may be free, other charges like transaction fees, brokerage, and statutory charges still apply based on your trading activity.
Can NRIs open a lifetime free demat account in India?
Yes, NRIs can open free demat accounts in India, though they may need to complete additional documentation and follow FEMA guidelines.
Is it safe to use discount brokers offering free demat accounts?
Yes, all brokers mentioned are SEBI-registered and follow regulatory guidelines, with investor protection of up to ₹25 lakhs through the Investor Protection Fund.
Do free demat accounts offer the same features as paid accounts?
Many AMC free demat accounts offer comparable features to paid accounts, though premium services like dedicated relationship managers might be limited.
Conclusion
A free demat account for a lifetime comes with a lot of long-term savings for all types of investors, from beginners to active traders. According to our in-depth 2025 analysis, Upstox is the best option for really free demat accounts without any hidden clauses followed closely by Groww and Zerodha. The best part? You do not need to sacrifice on features or quality of service to get rid of these unnecessary costs.
When selecting your free demat account in India, do not focus on the “free” label and look at the whole cost structure, assess the reliability, features, and support quality of the trading platform. Keep in mind that even the little recurring charges can have a huge impact on your investment returns over the long term.
Ready to end the paying of unnecessary fees? Open your free demat account in your lifetime today and channel those savings to your investments instead. Your future self will appreciate you for this smart financial move!
