Opening Demat account is the first step towards investing in the stock market, mutual funds, IPO and NCD's in India.
In layman terms; the Demat account is similar to a bank account. The major difference is; instead of keeping the money, you keep shares, mutual funds or bonds in electronic format in Demat account. Keeping stocks and Mutual Funds in the demat account has many advantages including higher security and faster transactions.
Demat AMC is an annual maintenance charge paid by the customer to keep the account active. Even if you use it or not, as long as you hold the demat account, you have to pay the AMC.
Some broker in India offers Free AMC Demat Account. Customer doesn't have to pay any yearly charges under this scheme. Some conditions may be applied including onetime fee at the time of account opening or refundable deposits. Check with the broker for more detail.
Demat accounts which are offered free of AMC for a lifetime of the account. These accounts are the best demat account for beginners as it reduces the cost. Brokers who offer Lifetime Demat Account usually ask for a onetime fee or a small refundable deposit of say Rs 1000.
The first steps towards open demat account free online is to find an appropriate broker to suit your investment needs. The below list provides the broker offering lifetime free demat account. Click on the broker name below to read broker review. Fill the inquiry forms to request the callback from the broker.
|Broker||Broker Type||Demat Account Opening Fee||Demat Account AMC|
|Wisdom Capital||Discount Broker||Rs 0||Rs 999 (Lifetime)|
|ProStocks||Discount Broker||₹0||₹0 per year (Lifetime Zero AMC)|
|Finvasia Securities Pvt Ltd||Full Service Broker||₹0 (Free)||₹0 per year (Lifetime Zero AMC)|
|Raghunandan Capital Pvt Ltd||Discount Broker||₹0 (Free)||₹0 for lifetime (Free)|
|iTradeOnline by Trustline||Discount Broker||Regular: ₹0, Lifetime Free AMC: ₹1000||Regular Demat: ₹300, Lifetime free AMC Demat: ₹0|
|Trustline Securities Ltd||Full Service Broker||Regular: ₹0, Lifetime Free AMC: ₹1000||Regular Demat: ₹300, Lifetime free AMC Demat: ₹0|
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