In today's digital age, investing in the stock market is becoming increasingly accessible. However, navigating the world of finance can be daunting for beginners. One crucial step for any aspiring investor is opening a demat account. This digital gateway allows you to hold shares and securities electronically, streamlining the investment process.
With a plethora of demat account providers offering their services online, choosing the right app can be overwhelming. This guide will explore some of the best demat account opening apps in India, helping you find the perfect platform to kickstart your investment journey.
This blog post will provide a comprehensive analysis of the leading demat accounts currently offered in the market. We will delve into the key features and benefits of each option, empowering you to make an informed decision that aligns with your investment goals and trading strategies.
What is a Demat account?
A Demat account, short for dematerialized account, is essentially a digital vault for your stock market investments. In the past, share certificates were physical documents representing ownership of stocks. These certificates could be cumbersome to manage, susceptible to loss or damage, and inconvenient for trading.
Demat accounts eliminate the need for physical certificates. Instead, your shares are held electronically in your Demat account, making the investment process more efficient and secure. Here are some of the benefits of using a Demat account:
If you are considering investing in the Indian stock market, opening a Demat account is a necessary first step. The apps mentioned in the guide will help you conveniently set up your Demat account and embark on your investment journey.
Here is a List of 5 Best Demat Account opening apps in India:
Zerodha :
Zerodha stands out as a leading demat account platform in India, recognized for its competitive fee structure and intuitive user interface. This combination has established Zerodha as a preferred choice for a wide range of investors and traders. Upholding a commitment to technological innovation, Zerodha provides a comprehensive suite of tools and educational resources designed to empower informed investment decisions.
Zerodha Account Opening: A Streamlined Experience
Opening a Zerodha account is a quick and convenient process that can be completed entirely online. To ensure a smooth experience, please gather the following required documents:
PAN Card copy.
Signature scanned copy in black/blue ink.
Aadhaar Number.
Bank Account Details.
Here's a step-by-step guide to get you started:
Initiate the application: Visit the Zerodha website or download their app.
Mobile Number Verification: Enter your mobile number and confirm the OTP received.
Personal Information: Fill in your details like name, email address, PAN card number, and date of birth.
Account Opening Fee: Make a payment for the account opening fee using your debit/credit card or UPI.
Aadhaar eKYC: Confirm your Aadhaar details through a secure online verification process.
Profile Completion: On your profile page, enter additional details like your parents' names.
Bank Account Linking: Link your bank account for seamless transactions.
Webcam Verification: Complete a quick webcam verification for identity confirmation.
Document Upload: Upload scanned copies of your PAN card and signature.
E-Sign for Equity: Digitally sign the agreement for equity trading to finalize your account opening.
Congratulations! Your Zerodha account is now ready for use.
Zerodha Demat Account Fee Structure Explained
Here's a breakdown of the fees associated with this Demat account:
Account Opening: A one-time fee of ₹200 is charged to set up your account.
Annual Maintenance Charge AMC: There's no annual maintenance charge if you maintain a minimum balance of ₹50,000 in your account. However, if your balance falls below ₹50,000, a quarterly AMC of ₹300 + 18% GST will be applied.
Brokerage: You will pay a brokerage fee of ₹100 per order you place.
Transaction Charges: These fees vary depending on the type of security you're trading. Here's a quick reference:
XC, XD, XT, Z, ZP groups: ₹10 per crore
SS, ST groups: ₹1,00,000 per crore
E, F, FC, G, GC, W, T groups: ₹375 per crore
Other Fees: There are additional charges for specific actions:
Call & Trade: ₹50 if you place an order over the phone
Debit Balance Account: ₹40 if your account goes into negative balance
SEBI Charges: ₹10 per crore regulatory fees
Pledging: ₹30 fee for using your holdings as collateral
Corporate Action Order: ₹20 fee for processing corporate actions like stock splits
Off-Market Transfer: Higher of ₹25 or 0.03% of the transfer value fee for transferring securities outside the exchange
Physical CMR Request: ₹20 for processing the request + ₹100 for courier charges to get a physical copy of your Contract Marriage Report
Payment Gateway: ₹9 fee for using the online payment platform
Taxes: An 18% GST Goods and Services Tax will be applied on all applicable charges.
Keep in mind : It's important to be aware of all the fees associated with your Demat account to avoid any unexpected charges. Make sure you review the detailed fee structure before opening an account.
For Zerodha referral code - click here
5paisa :
Consider 5paisa as a strong demat account platform for beginners entering the online share market. Their user-friendly platform, coupled with low-cost brokerage fees and a wide range of investment options, makes them an attractive choice for many investors.
5paisa Account Opening: A Streamlined Experience
Required Documents:
Permanent Account Number PAN Card
Bank Account Details Account Number and IFSC Code
Aadhaar Card for eKYC verification
Simple Online Process:
Initiate Application: Visit the 5paisa website or download the mobile app.
Verification: Enter your mobile number and email address to receive verification codes.
Account Details: Provide your PAN card details and bank account information.
Review and Confirmation: Carefully review the entered details for accuracy.
Document Upload: Securely upload your PAN card, Aadhaar card, and a bank statement through Digilocker.
Identity Verification: Capture a clear selfie for facial recognition verification.
E-Sign the Agreement: Electronically sign the account opening form using a one-time password OTP for a secure and paperless experience.
Congratulations! Your 5paisa account application is complete. You will be notified shortly regarding the status of your application.
5paisa Fee Schedule
Account Opening: Free
Account Maintenance Charges AMC: ₹25 per month + 18% GST
Brokerage: ₹20 per executed order across Equity, Derivatives, Currency
Transaction Charges:
UPI & IMPS: Free
Net Banking: ₹10 per transfer
Other Fees:
Call & Trade / Square Off: ₹50 + 18% GST
Offers for Sale: ₹20 + 18% GST
Trading over Call: ₹100
Taxes: 18% GST applies to applicable charges.
For 5paisa referral code - Click here
Upstox :
Upstox stands out as an attractive demat trading platform among our offerings, particularly well-suited for new investors. It provides a comprehensive suite of trading and investment options, encompassing a variety of investment products like stocks, commodities, currencies, and mutual funds. Upstox's user-friendly design makes it an excellent choice for those seeking to participate in the financial markets.
Upstox Demat Account Opening: A Streamlined Experience
Initiate your investment journey with Upstox's efficient account opening process.
Required Documents:
Permanent Account Number PAN
Signed document physical or digital signature
Aadhaar card
Bank account details savings or current
Simple Steps to Open Your Account:
Access Upstox: Visit our website or download the mobile app.
Mobile Number Verification: Enter your mobile number and confirm the One-Time Password OTP sent to your device.
Create Login Credentials: Set up your Upstox login by entering a secure email address and verifying it with another OTP.
Personal Details and Document Uploads: Provide your personal information and upload scanned copies of your PAN card, Aadhaar card, and signature document.
Live Photo Capture Optional: For enhanced security, grant the app permission to capture a live photograph of yourself.
Bank Account Linking: Establish a seamless connection between your Upstox account and your preferred savings or current bank account to facilitate fund transfers.
Aadhaar eKYC Verification: Complete the Aadhaar-based electronic Know Your Customer eKYC process for final verification.
Congratulations! Your Upstox Demat account is now ready for you to explore the exciting world of investing.
Key Points keep in your mind :
The process is entirely digital and can be completed conveniently from your smartphone or computer.
Upstox prioritizes security measures, including eKYC and optional live photo capture.
Linking your bank account simplifies the process of depositing and withdrawing funds.
We look forward to welcoming you as a valued Upstox investor.
Upstox Fee Schedule
Account Management
Account Opening Fee: Free
Annual Maintenance Charge AMC: Free
Brokerage
A flat fee of ₹20 per executed order applies across Equity Delivery, Intraday, Futures & Options, Currency and Commodity segments.
Transaction Charges
Transaction charges of ₹18.5 per scrip per day are levied solely on the sell side.
Statutory and Regulatory Charges
SEBI Turnover Charges: ₹10 per crore contract value.
Stamp Duty: Varies by state, ranging from ₹300 per crore to ₹1500 per crore.
STT/CTT Charges Effective Until March 31st
Equity Delivery: 0.1% on buy value and 0.1% on sell value.
Equity Intraday: 0.025% on sell value.
Equity Futures: 0.01% on sell value.
Equity Options: 0.05% on sell value calculated on premium.
STT/CTT Charges Effective From April 1st
Equity Delivery: 0.1% on buy value and 0.1% on sell value.
Equity Intraday: 0.025% on sell value.
Equity Futures: 0.0125% on sell value.
Equity Options: 0.0625% on sell value calculated on premium.
Taxes
An 18% GST is applicable on brokerage, transaction charges, and demat charges.
For upstox referral code - click here
AngelOne :
Recognized as a leading demat account provider for beginners, Angel Broking offers comprehensive research and advisory services to cater to investors of all experience levels. Their user-friendly interface further enhances the overall experience for a broad range of clients.
Angel One Demat Account Opening
Eligibility and Documentation
To ensure a smooth account opening experience, kindly ensure you have the following documents readily available:
Proof of Identity POI: PAN Card mandatory
Proof of Address POA: Aadhaar Card preferred or any other government-issued document with your current address
Financial Documents: Bank Account details linked to your Aadhaar if using eKYC
Online Account Opening Process
Initiate Application: Visit the Angel One website at https://www.angelone.in/open-demat-account.
Personal Information: Fill out the online form with your basic details, including your name, mobile number, and city of residence.
Verification: Verify your mobile number and email address using the one-time passwords OTPs sent.
Depository Selection: Choose your preferred Depository Participant DP to hold your dematerialized securities.
eKYC Completion: Complete the electronic Know Your Customer eKYC process by uploading scanned copies of your PAN Card and address proof. You may be prompted to upload additional documents based on your profile.
Biometric Verification: Take a clear selfie and provide your electronic signature for verification purposes.
Account Activation
Once your documents and eKYC are successfully verified, your Angel Broking Demat account will be activated. You will receive confirmation via email and SMS with your account details.
Keep some points in your mind :
This process is entirely online and eliminates the need for physical document submission in most cases.
Angel Broking may request additional documents based on their internal policies or regulatory requirements.
We recommend referring to the Angel One website for the latest information and any updates to the account opening process.
Angel One Fee Schedule
Account Management
Account Opening Fee: Free
Annual Maintenance Charges AMC:
Standard Accounts: ₹20 per month + GST
Basic Services Demat Account BSDA:
Up to ₹50,000 account value: Free
Above ₹50,000 account value: ₹100 per year + GST
Trading Costs
Brokerage Charges: ₹20 per executed order minimum
Transaction Charges:
Securities Transaction Tax STT: Variable see below
Stamp Duty: 0.0001% to 0.003% depending on state
Demat Charges:
Non-BSDA Accounts: ₹20 + GST per debit transaction
BSDA Accounts: ₹50 + GST per debit transaction
Other Fees
SEBI Charges: ₹10 per crore turnover
Call & Trade Charges: ₹20 per order
Square Off Charges: ₹20 per order
Pledge Creation/Closure:
Non-BSDA Accounts: ₹20 per ISIN
BSDA Accounts: ₹50 per ISIN
DematView Charges: ₹50 per certificate
Taxes
Goods and Services Tax GST: 18%
Note: STT charges vary depending on the asset class and transaction type. Please refer to Angel One website or contact them for current STT rates.
For AngelOne Referral Code - Click Here
IndMoney :
INDmoney is a feature-rich stock investing platform that facilitates seamless investment in mutual funds, stocks, and other financial products. Its user-friendly interface positions it favorably among demat accounts with competitive brokerage fees, making it a suitable choice for beginners.
INDmoney Account Opening: A Streamlined Process
Eligibility and Documentation:
To open an INDmoney account, you'll need to be a resident of India and possess the following documents:
Permanent Account Number PAN Card
Aadhaar Card
Identity Proof e.g., Driver's License, Passport
Passport-Size Photographs
Address Proof e.g., Utility Bill, Bank Statement
Bank Account Details
Simplified Account Opening:
Initiate the Application: Visit the INDmoney website or download their mobile app.
Provide Contact Information: Enter your valid email address and phone number.
Fill Out Personal Details: Accurately provide your name, email address, PAN card details, and date of birth.
Link Bank Account: Establish a secure connection between your INDmoney account and your bank account.
Complete eKYC:
Confirm your Aadhaar details.
Upload the required documents PAN Card, Identity Proof, Address Proof, Passport-Size Photographs.
Perform a quick identity verification process.
E-Sign for Activation: Conclude the application process with a secure electronic signature for your equity segment access.
Congratulations! Your INDmoney account is now ready for use
IndMoney Fee Schedule
This table outlines the charges and fees associated with using an IndMoney Demat Account.
Account Management
Account Opening Fee: ₹0
Annual Maintenance Charge AMC: ₹0
Trading Charges
Brokerage: ₹20 per executed order minimum
Exchange Transaction Charges per order:
Delivery:
NSE: 0.00325% of transaction value
BSE: Varies based on stock group refer to exchange website for details
Intraday: 0.00375% of transaction value BSE
Futures: 0.0019% of contract value NSE
Options:
NSE: 0.050% of premium
BSE: 0.0050% of premium
STT Securities Transaction Tax:
Delivery: 0.10% buy and sell
Intraday: 0.025% sell only
Futures: 0% buy, 0.0125% sell
Options: 0% buy, 0.0625% on premium sell
SEBI Charges: 0.0001% of turnover buy and sell
Other Fees
Stamp Duty varies by state and transaction type:
Delivery: Up to 0.015% buy
Intraday: Up to 0.003% buy
Futures: Up to 0.002% buy, 0% sell
Options: Up to 0.003% buy, 0% sell
Deposit using Net Banking: ₹10
Auto Square-off Charges open intraday positions: ₹50 per position
Call & Trade Charges: ₹500 per order
Taxes
An 18% GST is levied on brokerage, DP charges, exchange transaction charges, SEBI turnover charges, and auto square-off charges.
For IndMoney Referral code - Click here
In conclusion, this list provides a starting point for your research into Demat Account opening apps in India. With further investigation, you can find the app that best suits your investment needs and preferences.
FAQs On Best Demat Account Opening Apps in India 2024 :
Q: What is Zerodha?
A: Zerodha is a leading discount brokerage firm in India that offers trading and investment services in stocks, commodities, currencies, and mutual funds.
Q: What is the delivery margin in Zerodha?
A: Delivery margin is the amount required to buy stocks for delivery in Zerodha. It is typically the full value of the stock.
Q: What is BO ID in Zerodha?
A: BO ID stands for Beneficiary Owner Identification in Zerodha, which is a unique identification number assigned to each investor holding securities in dematerialized form.
Q: How to open a demat account in Zerodha?
A: To open a demat account in Zerodha, you can visit their website and fill out the account opening form. You will need to provide your PAN card, Aadhaar card, and other required documents for verification.
Q: How to open a Zerodha account?
A: To open a Zerodha account, you can visit their website and follow the account opening process. You will need to provide your PAN card, Aadhaar card, and other required documents for verification.
Q: What is an auction in Zerodha?
A: Auction in Zerodha occurs when a client fails to fulfill the obligations of a trade, leading to the exchange auctioning off the securities to recover the dues.
Q: How to Close a 5paisa Account ?
A: Contact 5paisa customer service and request to close your account. Provide the necessary details for verification.
Q: How to Deactivate a 5paisa Account ?
A: To deactivate your account, you need to contact 5paisa customer support and follow their instructions.
Q: How to Delete a 5paisa Account ?
A: Contact 5paisa customer support and request to delete your account. They will guide you through the process.
Q: How to Close a 5paisa Demat Account ?
A: Contact 5paisa customer service and request to close your demat account. Provide the required details for verification.
Q: How to Reactivate a 5paisa Account ?
A: If your account has been deactivated, contact 5paisa customer support for assistance on reactivating it.
Q : What is Upstox?
A: Upstox is a leading online stock trading platform in India.
Q: How to delete an Upstox account?
A: To delete your Upstox account, you can contact Upstox customer support and follow their instructions.
Q: How to do intraday trading in Upstox?
A: To do intraday trading in Upstox, you need to select the stock you want to trade, choose the intraday trading option, specify the quantity, and place the order.
Q: What is UCC in Upstox?
A: UCC stands for Unique Client Code in Upstox, which is a unique identifier assigned to each client.
Q: Which is better, Zerodha or Upstox?
A: Both Zerodha and Upstox are popular stock trading platforms in India, and the choice between them depends on your specific requirements and preferences.
Q : Why is Angel One falling?
A: The reasons for Angel One's stock price falling can vary and may include market conditions, company performance, industry trends, or other factors.
Q: Why is Angel One falling today?
A: The specific reasons for Angel One's stock falling today would require real-time market analysis, which I don't have access to.
Q: Why is Angel One stock falling?
A: Similar to the first question, the reasons can be related to various factors affecting the stock market and the company's performance.
Q: Which is best, Angel One or Upstox?
A: The choice between Angel One and Upstox depends on individual preferences, such as trading features, fees, customer service, and reliability.
Q: Which is best, Angel One or Zerodha?
A: Similar to the previous question, the better option between Angel One and Zerodha depends on personal preferences and requirements.
Q: What is INDmoney?
A: INDmoney is a super money app that allows you to manage your investments and finances in one place. This includes Indian stocks, US stocks, mutual funds, and more.
Q: What is the INDmoney app?
A: The INDmoney app is a mobile application that provides access to all of INDmoney's features and functionalities.
Q: Is INDmoney safe?
A: While INDmoney itself may have security measures in place, it's important to do your own research on the company's reputation and how they handle user data.
Q: How to find a referral code in the INDmoney app ?
A: Information on locating your referral code within the INDmoney app is unavailable. It's possible the referral code is provided during account signup or through promotional materials.
