There are several Demat account providers in India, from depository participants to stockbrokers. Now, new investors may need help to choose the best Demat account provider. While some providers offer minimal Demat account charges, some extend high-end investment services. It is essential to consider all the features before choosing a Demat account. Let us discuss the best dematerialisation accounts in India.
Brief About Dematerialisation Accounts
Before discussing the best Demat accounts in India, let us understand their importance. A dematerialisation or Demat account is mandatory in India for holding electronic securities. Without a dematerialisation account, you can only carry physical trade certificates. A Demat account converts the physical securities into electronic form for easy storage. The chances of theft and misplacement are reduced for electronic securities in a Demat account.
Whereas, a trading account buys and sells financial securities on stock exchanges and other financial markets. It is not meant to hold financial securities in electronic format, as a Demat account does.
You need both accounts to indulge in trading activities. A stockbroker can fulfil your trading and Demat account needs in India. On the other hand, a depository participant can only provide dematerialisation account services. Here are the best dematerialisation accounts in India in 2023:
Religare Broking Demat Account
Religare Broking is a trusted stock broker in India that offers a 2-in-1 Demat cum trading account. It currently allows investors to apply for a new account without a charge. You can also choose between Religare One Plan and Elite Plan for opening a new account. Every plan has benefits regarding brokerage, delivery trading, and personalised services. Religare is the right choice for investors looking for minimal Demat account annual charges. You can invest in a bouquet of products with Religare, including commodities, stocks, currencies, IPOs, ETFs, and derivatives.
Axis Direct Demat Account
Axis Direct is another provider charging zero fees for opening a Demat account. Customers of Axis Bank are not required to pay the annual maintenance charges for the first year. However, the annual maintenance charge will be Rs 700 from the following year. The annual maintenance charge for other individuals is Rs 350 for the first year. Other individuals will also pay Rs 750 in yearly maintenance charges from the second year. You can browse a wide range of securities by opening a Demat account with Axis Direct.
Sharekhan Demat Account
Sharekhan has made its reputation as a broker in India in the past few years. It allows you to apply for a Demat account for free in India. You will be freed from the maintenance charges for the first year. Sharekhan offers Demat and trading accounts with safety features. You don’t have to worry about malicious actors while making trading decisions. Not to forget, you will have access to multiple securities by opening a 2-in-1 account with Sharekhan.
Upstox Demat Account
Upstox needs no introduction when it comes to the best brokers in India. It has played its part in the growth of retail investors in India. You do not have to pay any Demat account opening charges to Upstox. Also, the brokerage is minimal to support retail or new investors. You can apply for a new Demat account online with Upstox.
Zerodha Demat Account
Zerodha is among the best discount brokers in our country. It allows investors to apply for new Demat accounts and start trading securities. The brokerage is minimal, even for intraday and F&O trades. Since its brokerage is very low, it is perfect for new investors. Your investment costs will come down when the brokerage is low.
Conclusion
Demat and trading accounts are essential to begin your investment journey in India. You must choose the right broker to open both accounts in India. Consider the account charges, personalised services, and other factors before choosing a broker. Apply for a new Demat cum trading account now!