Top Demat Account in India 2026 – Top Picks for Traders & Investors

If you’re searching for the best demat account in India, don’t begin by staring only at the annual maintenance charges (AMC). The account with the cheapest AMC might not match how you really plan to invest or what you will need later on.

For a first-time investor, or anyone switching brokers, it helps to glance at a bunch of things at once: the cost to open the account, AMC, DP (depository participant) charges, how smooth onboarding feels, which depository the broker is using, nomination and how corporate actions are handled, plus the research or investment tools that come bundled with the account.

In this comparison, we looked at the top 10 demat account in India, namely Pocketful, Zerodha, Groww, Angel One, ICICI Direct, Kotak Securities, Upstox, SBI Securities, Axis Direct, and Paytm Money. We not only judged them using the factors above, but also thought about how each broker supports day to day investing.

The key thing is that there is no single best demat account for every person. What is “right” depends on what you want to hold inside it, how long you expect to keep those holdings, and what level of handholding you want along the way.

Quick answer: If you’re aiming for ₹0 account opening and ₹0 AMC, Pocketful and Groww are worth a look. Zerodha works well for investors who like an established platform that’s very well explained. If you prefer bank-backed brokers, Kotak Securities, ICICI Direct, SBI Securities and Axis Direct may fit nicely since they tend to feel more integrated. Also remember, charges and features can shift. Always confirm the most recent pricing and product details on the broker’s official website before you actually open the account.

Top 10 Demat Accounts in India: Quick Comparison

Compare the complete charge structure before opening a demat account.

Broker	Account Opening Fee	Annual Maintenance Fee (AMC)	Equity Delivery Brokerage	Equity MTF	Intraday Brokerage	Futures Brokerage	Options Brokerage	Commodities F&O Brokerage	Unique Features
Groww	₹ 0	₹ 0	₹20 or 0.01% per orderWhich ever is lower Minimum ₹5	0.041% (or 14.95% annually)	Flat ₹20 per order	Flat ₹20 per order	Flat ₹20 per order	Flat ₹20 per order	Zero AMC, a user-friendly platform
Zerodha	₹ 0	₹300 + GST	₹20 or 0.03% per executed order, whichever lower	0.04% per day	0.03% or Rs. 20/executed order whichever is lower	0.03% or Rs. 20/executed order whichever is lower	Flat Rs. 20 per executed order	0.03% or Rs. 20/executed order whichever is lower	User-friendly platform, educational tools
Pocketful	₹ 0	₹ 0	₹ 0 delivery charges.	0.1% of turnover per order	₹20 per executed order or 0.03% of turnover, whichever is lower	₹20 or 0.03% per executed order, whichever is lower	₹20 per executed order	₹20 per executed order	Innovative technology lets you invest in different asset classes in one place.
Angel One	₹ 0	₹240 (1st year free)	₹20 or 0.1% per executed order	0.041% per day	₹20 or 0.03%	₹20 per executed order	₹20 per executed order	₹20 per executed order	Comprehensive research, versatile mobile app
ICICI Direct	₹ 0	₹ 700	0.07% for equity delivery	0.0265% daily (9.65% p.a.)	Flat Brokerage per order of ₹20	Flat Brokerage per order of ₹20	Flat Brokerage per order of ₹20	Flat Brokerage per order of ₹20	3-in-1 account, extensive research
Kotak Neo	₹ 0	₹99 Account Opening Fee	0.49% for equity delivery	0.041% per day (approx. 14.99% p.a.)	Flat Brokerage per order of ₹10	Flat Brokerage per order of ₹10	Flat Brokerage per order of ₹10	–	Advanced trading tools, personalized advisory
Upstox	₹ 0	₹ 0	₹20 or 0.05% per order	₹20/day for every ₹40,000 borrowed	0.01% or Rs. 20/executed order whichever is lower	0.05% or Rs. 20/executed order whichever is lower	Flat Rs. 20 per executed order	0.05% or Rs. 20/executed order whichever is lower	Low brokerage fees, intuitive platform
SBI Securities	₹ 0	₹ 750 (1st year free)	0.5% for equity delivery	0.04% per day	Flat ₹20 per order	Flat 0.05 % per order	Flat ₹50 per order	–	3-in-1 account, strong banking integration
Axis Direct	₹ 0	₹ 750	0.5% for equity delivery	9.99% to 10.99% p.a. (or ~0.03% daily)	0.5% for equity Intraday	0.5% for equity Futures	Flat ₹20 per order	0.03% for Futures & ₹50 per orderFor Options	Seamless fund transfers, advanced research tools
Paytm Money	₹ 0	₹ 0	₹20 per executed order or 2.5% whichever is low	0.022% per day & 7.99% p.a.	₹20 per executed order or 0.05% whichever is low	₹20 per executed order or0.01% whichever is low	₹20 per executed order	–	Integrated with the Paytm ecosystem, low transaction costs

Important: AMC is not the same as the total cost of holding a demat account. DP charges (on selling), pledge charges, physical statement charges (if requested), and statutory charges may also apply depending on your activity.

Which Demat Account is Best for You?

Before comparing all top 10 demat accounts in India, identify which type of investor you are.

If you are…	Look for…	Good picks
Buying stocks for the long term	Low/zero AMC, simple holdings view	Pocketful, Zerodha, Groww
Completely new to investing	Simple onboarding, minimal paperwork	Pocketful, Groww, Zerodha
Holding stocks and mutual funds together	Consolidated statements, single app	Pocketful, Groww, Zerodha, Paytm Money
Looking for research support	Research reports and market insights	Pocketful, Angel One
Wanting banking integration	3-in-1 accounts, easy fund transfer	ICICI Direct, Kotak Securities, SBI Securities, Axis Direct
Planning to also trade actively	A demat account tightly linked to a capable trading app	Pocketful, Zerodha, Upstox
Wanting advisory/PMS alongside	Dedicated research desks, relationship managers	SBI Securities
Cost-conscious across the board	Zero opening fee, zero or low AMC, transparent DP charges	Pocketful, Groww

Note: This split matters a lot, because it completely depends as per different scenarios. A demat account that feels perfect for a buy-and-hold style investor may not be the best match for someone who wants a relationship manager, or the option to walk into a branch and talk to people in person. 

Read Also: Best Trading Apps in India

Top 10 Demat Account in India in 2026

1. Pocketful

It’s SEBI-registered and a member of NSE, BSE and MCX, and the account opening flow is designed so you finish it in just five minutes, through a fully online, paperless process.

Pocketful’s demat account also plugs into its investment baskets, stock screening tools, IPO access, and mutual fund investing (2,000+ funds). So you can hold and research a bigger mix of assets, without constantly jumping between multiple platforms. On top of that, nomination, e-DIS for selling shares, and corporate actions like bonus shares, rights issues, and dividends are handled inside the same account.

Why investors may consider Pocketful

• ₹0 account opening
• ₹0 AMC
• Fully online, paperless onboarding
• Investment baskets and screening tools
• Mutual funds and IPO access under one account
• e-DIS and nomination handled in-app
• MTF starting at 5.99%* for investors who use margin

Best suited for the cost-conscious investor who is after a simple no-AMC starting point, yet still wants access to research and investment tools as their holdings start to grow.  

Beginner tip: Do check the linked trading account brokerage separately before assuming that the “free” account is your total cost.  

Pro tip: Use Pocketful’s curated “Pockets” as a research starting point, but always peek at what’s inside a pocket before you invest. 

2. Zerodha

Zerodha is India’s biggest broker by client count, and it pairs your demat account with the popular Kite platform. For resident individual accounts opened on or after 1 June 2026, you get the first year of AMC free, after that ₹300 + GST kicks in, this depends on your account type, and BSDA eligibility too.

Console, which is Zerodha’s portfolio and reporting dashboard, gives a single consolidated view of your demat holdings, and then there’s Varsity, its free education site, that goes through depository ideas like DP charges, pledging, and corporate actions in a straightforward, plain spoken way.

Why investors may consider Zerodha

• It’s established and handles high volume
• Console for a consolidated holdings view and reporting
• Varsity covers demat basics and related terms
• Coin for direct mutual fund holdings in the same account
• First year AMC free for new eligible resident accounts  

Best suited for the learning oriented investor who wants to really get how a demat account works, not just open one and then stop thinking about it.  

Beginner tip: Take a look at DP charges before your first sell order. They’re separate from brokerage and AMC, and kind of easy to miss.  

Pro tip: The console lets you review holdings, ledger, and P&L all in one place , so it’s worth bookmarking as soon as your account becomes active.

3. Groww

Groww shows ₹0 account opening and ₹0 AMC, and they’ve built the whole thing around one simple, combined screen for stocks, mutual funds and ETFs.

But beginners should look past “₹0 AMC” while comparing overall costs. DP charges can show up when you sell shares, plus there are statutory and regulatory charges that feel the same across pretty much every broker.

Why investors may consider Groww

• ₹0 account opening  
• ₹0 AMC  
• Stocks plus mutual funds inside one account  
• IPO access  

Best suited for the simplicity-first investor who wants to keep stocks and mutual funds without a tangled interface.

Beginner tip: An interface that looks simple doesn’t magically remove DP charges, STT, or the other statutory stuff, so confirm the full charge list, not only the AMC line.  

Pro tip: Groww’s consolidated portfolio view is pretty handy for monitoring SIP-based mutual fund positions alongside your direct stock holdings, without jumping between tabs.

4. Angel One 

Angel One links the demat account with research, market updates, and some advisory-oriented tools. The AMC on the Angel One’s website is listed as zero for the first year, and after that, non-BSDA clients are shown at ₹240/year, though it can differ a bit by plan or from what source you check.  

Why investors may consider Groww

• You get research and market insights right alongside your holdings  
• Zero AMC in year one  
• Onboarding feels digital, yet there is also an offline branch presence which can be a relief  
• You can track corporate actions and dividends inside the app  

Best suited for the investor who wants a demat account plus a steady stream of research-market context, and also likes that Angel One has a wider offline presence across the country.  

Beginner tip: Research reports can help you grasp a stock, but they should not replace knowing what you actually hold in your demat account.  

Pro tip: Match Angel One’s research pieces with your own reading, rather than depending on only one source. 

5. ICICI Direct

ICICI Direct is a subsidiary of ICICI Bank, it brings a 3-in-1 account that connects your savings, trading and demat, so you can shift money without doing separate transfers each time. The AMC is currently around ₹700 per year, which is on the higher side compared to the other options in this list.

Why investors may consider ICICI Direct

• 3-in-1 account that ties the bank side with trading and demat
• Solid local branch network, useful when you want in-person help
• Research, commentary and advisory services are available

Best suited for existing ICICI Bank customers, or those who want branch level support and are not too focused on AMC

Beginner tip: the ease of a 3-in-1 account sounds great, but it usually comes with higher AMC, so it’s worth checking how often you’ll actually rely on branch help.

Pro tip: if you already use ICICI for banking, the linked fund-transfer convenience can truly save time, even if the listed AMC looks steep at first glance. 

6. Kotak Securities (Kotak Neo)

Kotak Securities is backed by Kotak Mahindra Bank and links easily to a Kotak bank account. Its Kotak Neo app and KEAT Pro X desktop terminal offer real-time market data, alongside a ₹99 account opening charge (varies by current offer).

Why investors may consider Kotak Securities

• Real-time data via Kotak Neo (web/mobile) and KEAT Pro X (desktop)
• Strong bank-backed reliability
• Educational initiatives for newer investors

Best suited for investors who want a bank-integrated account and don’t mind a modest opening charge for real-time tools.

Beginner tip: Check current opening-charge offers, these are periodically waived or discounted.

Pro tip: KEAT Pro X is worth exploring if you plan to track markets from a desktop rather than only mobile.

7. Upstox

Upstox is trading-oriented in its product design, and its demat account is built to work closely with its charting and order-management tools. New customers currently get zero AMC for the first year; ₹300+ GST applies for non-BSDA users thereafter.

Why investors may consider Upstox

• Zero AMC in year one
• Fast online onboarding
• Holdings view tightly integrated with the trading interface
• Watchlists and portfolio tracking

Best suited for the investor who expects frequent account activity and wants a demat account that stays closely linked to execution tools.

Beginner tip: An account built for active trading doesn’t mean you should trade actively as a beginner, learn settlement and corporate-action mechanics first.

Pro tip: Check the current AMC rate directly on Upstox’s charges page before opening an account, since year-two pricing applies once the free period ends.

8. SBI Securities

SBI Securities is a wholly-owned subsidiary of the State Bank of India, India’s largest public-sector bank. AMC is currently listed at ₹750/year (first year free), among the higher charges on this list.

Why investors may consider SBI Securities

• Backed by India’s largest public-sector bank
• Personalised relationship managers for HNI clients
• Extensive branch network

Best suited for investors whether new or experienced who prioritise institutional trust and branch access over the lowest possible AMC.

Beginner tip: The higher AMC reflects the branch network and support layer, worth it only if you’ll actually use that support.

Pro tip: If you already have an SBI savings account, ask about linked fund-transfer convenience before comparing AMC in isolation.

9. Axis Direct

Axis Direct is a subsidiary of Axis Securities Limited, itself part of Axis Bank. AMC is currently listed at ₹750/year, and the platform offers margin funding to investors.

Why investors may consider Axis Direct

• Smooth fund transfers for Axis Bank customers
• In-depth fundamental research reports
• Margin funding facility

Best suited for existing Axis Bank customers who want an integrated account and access to margin funding.

Beginner tip: Margin funding increases exposure, understand the interest cost and risk before using it, even if it’s conveniently available.

Pro tip: Axis Direct’s sector and stock research reports are worth reviewing even if you don’t use margin funding.

10. Paytm Money

Paytm Money launched in 2017 as a direct mutual fund platform before adding stock trading in 2019. It’s backed by One97 Communications and currently lists ₹0 AMC.

Why investors may consider Paytm Money

• ₹0 AMC
• Direct mutual fund investing to save on costs
• SIP, lumpsum and other calculators built into the app
• Familiar interface for existing Paytm users

Best suited for investors focused on low-cost mutual fund investing who also want occasional stock trading in the same app.

Beginner tip: Direct mutual fund plans save on distributor commissions over time, worth understanding the difference from regular plans before you start SIPs.

Pro tip: Use the built-in SIP and lumpsum calculators to plan contributions before committing to a fixed monthly amount.

Read Also: Top 10 Option Trading Books in India

How We Compared These Demat Accounts?

We evaluated the providers across six factors that matter to investors:

1. Account opening charges
2. AMC and other account-related costs (including DP charges)
3. Ease of onboarding and use
4. Depository and corporate-action handling (nomination, e-DIS, bonus/rights/dividends)
5. Learning, research and advisory resources
6. Suitability for different investor profiles

Pricing and product information were checked against the brokers’ official websites and publicly available rate cards. Since charges and features can change, readers should verify the latest information before opening an account.

7 Things You Should Check Before Choosing a Demat Account

1. Is the broker SEBI-registered and a depository participant? This should be your first check. SEBI maintains a database of recognised intermediaries, and every demat account sits with a depository, NSDL or CDSL, through a registered depository participant (DP). Check this rather than relying only on an app’s marketing claims.

2. What will you actually pay? Don’t stop at “₹0 AMC.” Your actual cost can include:

• Account opening charges (usually ₹0 now)
• AMC
• DP charges (charged when you sell shares)
• Pledge charges (if you use MTF or pledge holdings)
• Physical statement charges, if requested
• Charges for account closure or transfer-out, in some cases

3. Are you holding for the long term or trading actively? If you plan to buy and hold for years, AMC and ease of tracking matter more. If you plan to trade frequently, how tightly the demat account integrates with the trading platform becomes more important.

4. How does the account handle corporate actions? Bonus shares, stock splits, rights issues, and dividends should reflect in your holdings automatically and be visible without you having to chase the broker.

5. Is nomination easy to set up? Nomination lets your holdings pass to someone you choose without a lengthy legal process. Check that the broker’s app makes this simple to add or update.

6. What happens when markets or account activity spike? Check user feedback on how the app performs when there’s high trading or account activity, delayed holdings updates or ledger mismatches are a bigger red flag than a slightly higher AMC.

7. Check the latest charges before opening the account. Pricing plans change. The comparison above reflects information available from the brokers’ current pricing pages, but verifies the official pricing page immediately before opening an account.

Don’t Choose a Demat Account Based Only on AMC

Consider two investors.

• Investor A buys ₹50,000 worth of stocks every few months and holds them for years, rarely selling.
• Investor B holds a mix of stocks and mutual funds and also trades intraday and F&O occasionally.

They should not necessarily choose the same account. Investor A may care more about AMC, ease of tracking, and corporate-action handling: DP charges matter less since they rarely sell. Investor B may care more about how tightly the demat account links to the trading platform, and should pay closer attention to DP charges given more frequent selling.

That’s why asking “Which demat account is best?” without first defining your holding behaviour can lead to the wrong answer.

Are Demat Accounts Safe?

A demat account itself does not make an investment safe, it only holds your securities electronically. Your first check should be the regulatory status of the depository participant. SEBI provides a searchable database of registered intermediaries, and you can independently verify your holdings through NSDL’s or CDSL’s own portals, not just the broker’s app.

You should also:

• Download the official app from the authorised app store.
• Check the broker’s SEBI registration and depository participant details.
• Set up and periodically review your nomination.
• Never share your OTP, PIN, or trading password.
• Enable available security features (biometric login, 2FA).
• Read the applicable AMC and DP charges before opening the account.
• Avoid acting on unsolicited tips or guaranteed-return claims tied to “free” demat accounts.

A regulated depository participant can safely hold your securities electronically. It cannot remove market risk on what you choose to buy.

How to Open Demat Account: A Step-by-Step Guide

Opening a Demat account with a broker is quick, fully digital, and hassle-free. Follow the simple steps below to get started with your investment journey.

Step 1: Download and Register: Download the broker app from the Google Play Store or Apple App Store and click on ‘Register’ to begin.

Step 2: Enter Personal Details: Fill in your name, mobile number, date of birth, PAN number, and address to start your application.

Step 3: Upload KYC Documents: Upload your Aadhaar card, PAN card, and a recent bank statement to complete the KYC process.

Step 4: Complete eSign & Submit: Verify your information and eSign the application using your Aadhaar-linked mobile number.

Step 5: Verification & Account Activation: Broker verifies your details, and once approved, your Demat account is activated. You’ll receive your Client ID and login credentials to start investing.

Ready to choose? Before opening a demat account, compare the current opening fee, AMC, DP charges, and other applicable costs on the broker’s official website. If ₹0 account opening, ₹0 AMC, and access to research and investment tools in one account are your priorities, you can explore Pocketful’s current offering and pricing before making your decision.

Final Disclaimer

This article helps you decide the best demat account in India for yourself. Please know it is for educational and informational purposes only and should not be construed as investment advice, a recommendation, solicitation or an offer to buy or sell any security or financial product. Account opening charges, AMC, DP charges, statutory charges, product availability and other terms may change. Please refer to the respective broker’s official website and applicable regulatory disclosures for the latest information before opening an account. Investing involves market risks, including the possible loss of capital.

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