Are you interested to invest in the Indian stock market? If yes, then you might be looking for ways to begin your investment journey with ease! So, let’s step into the realm of financial excellence with the Best demat account in India. Seamlessly navigate stock trading, unlocking tailored features for informed decisions.

There are plenty of demat account options to choose from. It can become overwhelming to find the right demat provider. To make it easy for you, we have curated a list of 10 Best Demat accounts that you can consider.

Explore features tailored to your needs, empowering you to make informed decisions. Let the adventure begin, as you navigate the dynamic landscape of the stock market!

In this post, you will find the features, pricing options, benefits, and drawbacks of each demat account. Based on these you can easily make the right choice. Do not forget to consider your investment needs first!  So, let’s begin and explore the best demat accounts in India.

Demat Account-Meaning and Uses

Whenever we think about investing money in the share market, the first word that we hear is “Demat Account”. But what does it mean? What are its types and uses? It’s high time to give you all the answers! So, let’s first understand the meaning of a Demat Account.

A Demat account is like a bank account. In a bank account, you keep your money whereas in a demat account, you keep shares and shares certificate. It is a short name for “Dematerialization Account”. Earlier people had to manage everything in physical form but now it’s much simpler. 

To open a demat account you have to register yourself with any of the depository namely- NSDL or CSDL. For that, you need to get help from a Depository Participant. The DP is basically the intermediary or the broker or the one that acts as a link between you and the exchange,

There are plenty of benefits of using a Demat account like:

1. No Paper certificates
2. Ease of storage
3. Multiple Instrument choices
4. Ease of access
5. Nomination facility available

Now that you know the perks of having a demat account, it’s time to learn the various types of it.

1. Regular Demat account- It is meant for the citizens that live in India, in short: Indian citizens.
2. Repatriable Demat account– This one is for NRIs. It has to be linked with an NRE bank account of the holder. Fund transfer is another feature of this account.
3. Non-Repatriable Demat account- It is also for NRIs and you must link your NRO account. The only catch is that you cannot transfer funds abroad.

Best Demat Account in India

Here is a list of the 10 best demat accounts in India. 

1. Zerodha: Best Market Research Tools

Zerodha is one of the best demat account providers in India. It more or less offers everything that is needed. Its trading platform is called “Kite”. For different instruments, they have different platforms like Console, Coin, and Sentinel.

They also have an educational platform by the name “Varsity” wherein beginners can learn how to trade and understand the basics of the stock market. The commission per transaction varies on the amount you invest. There intraday delivery brokerage is mere 20/-. Equity delivery and mutual funds are free from commission.

Key Features:

Pros of Using Zerodha

1. It provides multilingual options and support.
2. Trading charts allow the use of over 100 indicators.
3. You can download and check your P/L and portfolio details.

Previously, Zerodha charged an account opening fee of Rs.200. But now its free for all resident individual. So, if you are ready to invest, Zerodha is a great option.

2. Paytm Money: Best for Mutual Funds

Paytm Money is an excellent option for “cost-effective” investment strategies. It also provides one of the best demat services in India. Here you can invest as low as Rs100. So, if you are a beginner then it provides ample opportunities to learn through real investment experiences.

The process to create a Demat account on Paytm Money is simple. Once you do it you can easily trade in mutual funds, stock market, IPO, F&O, IPO, and ETFs. NPS retirement funds can also be traded. Guess what? There brokerage per trade is 0.

Key Features:

Pros of Using Paytm Money

1. You get comprehensive and useful insights into your portfolio.
2. Top-notch market analysis tools for stocks and mutual funds.
3. Historical data and evaluations for mutual funds.

If you are interested in commodity or currency trading then unfortunately this platform is not for you.

3. Groww: Best for Paperless Account Opening

Groww is completely free. Yes, you heard it right. Groww charges zero account fees and maintenance charges. The account opening process is also very flexible. You can do it from your home. Even though there is a small percentage of brokerage charges, it’s still very competitive compared to the rest of the brokers.

User testimonials have credited it as the most transparent platform. The customers have also said that it took them just 5 minutes to open the account. The commission is usually Rs.20 or 0.05% of the trade.

Key Features:

Pros of Using Groww

1. Foreign markets are accessible for investment.
2. SIP purchases are commission-free.
3. Statistics and analytics are available for mutual funds and investments.

Those who are budget-conscious can checkout Groww and initiate the opening process.

4. Aditya Birla Capital: Best for Low-risk Mutual Funds

Aditya Birla Capital is considered an excellent choice for beginners who want to try their luck in mutual funds. It provides opportunities to invest in low-risk mutual funds. Other financial products it deals with are intraday delivery, equity delivery, ETFs, and derivatives.

This provider has something for everyone. Experts can invest in complex returns equity and take advantage of competitive brokerage. For NRIs, investment in mutual funds can be a good way to get tax benefits. The fee is generally 0.50% of the trade value.

Key Features:

Pros of Using Aditya Birla Capital

1. The platform is user-friendly, therefore beginners find it easy to use. For experts, advanced tools are helpful.
2. Professional/Experienced traders can use the competitive brokerage feature to make the most profits.
3. NRIs can use the international market to invest in multiple features.

The application is very user-friendly and systematic. No user will ever face any interface issue. This makes this provider popular among customers.

5. 5Paisa Demat Account: Best For A Diversified Portfolio

A diverse portfolio will take you far and give you better returns. With 5Paisa you can make your portfolio diverse as they provide an excellent variety of options. It is one of the best Demat account providers in India because of their market research tools and portfolio analysis.

During the first year of operation, they acquired over 7500 retail users. Maybe the reason was their paperless account opening process. Commission is very low i.e. Rs.20 or 0.05% of the value.

Key Features:

Pros of Using 5Paisa

1. Plenty of portfolio analysis tools for experienced and beginners.
2. With low-cost options, it offers a variety of instruments to invest.

The brokerage rate is flat. It means the fee remains the same irrespective of how big an amount you invest.

6. Angel Broking: Best For Quick Registration

Angel Broking is a retail stock broker that caters to all kinds of investment and trading services. These services extend to stock & commodity trading, margin trading, investment advice, loans against shares, financial services, and much more.

If your KYC process gets completed and approved then you will be able to commence trading within an hour of it. Thus, this platform will streamline the registration process for you. The fee revolves around 15-20/- per trade.

Key Features:

Pros of Using Angel Broking

1. The account opening process is very fast and simple.
2. The application has a user-friendly interface and provides margins up to 5 times.

If you get confused during any step, Angel Broking is known to provide a personalized touch and great recommendations.

7. Upstox Demat Account: Best For Investing In Digital Gold

Who hasn’t seen the Upstox commercials in between cricket matches, right? Upstox is another Indian demat account provider that has revolutionized the field. It is one of the premium and technologically advanced brokers in India.

Right from adding funds to placing orders, you will never be confused about whether you are making the right decision or not. Their charting feature is superb for making sound decisions. You will be given valuable insights through their tools. Don’t worry about brokerage because its just mere Rs.20 per trade that is executed.

Key Features:

8. Axis Direct: Best For Free Trade Analysis Report

Axis Bank is a private sector bank that has started its own trading platform. It has popularly gained the trust of 2 million users. So, as a customer, you get a 3-in-1 spot to do banking, trading as well as demat services.

They also offer a free trade analysis report and guidance from investment experts. Though the demat services of Axis Direct are costly since it is a trusted bank, people choose it for reliance and security purposes. The commission is similar to other platforms i.e. Rs.20.

Key Features

Pros of Using Axis Direct

1. Market research can be done for free as well as investment advice is free.
2. On the dashboard you will find lots of free educational content.

Novice traders or beginners can learn a lot about trading and its fundamentals. So, for existing customers of Axis bank it is an excellent opportunity to get into investment in stocks.

9. Kotak Securities: Best For Global Investment

Kotak Securities is another example of a private bank offering trading services. It has a customer base of over 20 million. Again it also provides a 3-in-1 platform for banking, investment, and a demat account.

It is SEBI registered and also a member of various stock exchanges. Kotak has spent a lot on improving the technological part of its trading website. Thus, the UI is very strong and advanced. You will rarely find any glitches while on its Securities Application. The brokerage is very different than others. It is Rs.21 per trade.

Key Features:

Pros of Using Kotak Securities

1. It provides a global investment platform to each user.
2. Market research tools and charting features offer the best recommendations.
3. The portfolio you create will be affordable as well as profitable even in small investments.

The brokerage is extremely high. Every intraday trade will cost you Rs20. For equity delivery, this rate is 0.25% per trade with a maximum cap.

10. SBICAP Securities: A Safe Demat Account

SBICAP Securities is an arm of SBI bank, a public sector bank. It is a 100% owned subsidiary of SBI Capital Markets. It is available both on the website and in application mode. If you have decided to open an account in SBICAP then be ready to pay a high account fee of Rs.850.

Commission and fee wise it is quite expensive but the services are genuine and top-notch. They have kept in mind the beginners and provided a lot of educational content on the website. The brokerage per trade is Rs.20.

Key Features:

Pros of Using SBICAP Securities

1. They have a dedicated customer service and a relationship manager for the users in case of any trouble.
2. Every user can benefit from their market analytics feature.

The user interface is just average. So, expect some glitches but overall the facilities as well as services are good.

Demat Account in India: Final Thoughts

If the Indian market is where you want to invest, then the demat providers listed above will easily simplify your path. Without having a demat account you cannot even buy a single share. Undoubtedly, this has to be your first step.

Each of these providers will offer various services and benefits. But the real question is- What do you need in a demat account? If you have figured it out, then choosing one will be a cakewalk.

Are you sure which account you’ll choose? Do comment below.