Best Demat Account in India

Best Demat Account in India

Safeguard your shares in best demat account in India

Before tuning up with the details regarding best demat account in India, start with the basic. In case of stock trading one needs some essential components, tool or product. The demat and trading account are the constituents of the same. Yes, to start trading you need to inculcate some plans and implement them.  That’s simple you can find out necessary things for trading posted online. However, we are going to discuss the things actually entailed for it. Right with the surge in trading/investing sector the importance of pro featured demat and trading account in India also arose. Traders need not worry as there already exist brokers who provide 100% secure demat account in India.

You can open such accounts completely free. As there exist few stock brokers who do not collect demat account charges associated with opening. And, if we talk about demat maintenance charges, discount broker like Wisdom Capital offer free demat maintenance in its ultimate plan for lifetime. In contrary, although the full service brokers like ICICI Direct, HDFC Securities, Kotak Securities etc offer free demat account maintenance for a year still start charging large amount afterwards. Additionally they charge for account opening also.  So if you do not want to spend much on these extra charges which multiply if evaluated all together, go for the online discount brokers. And, if you are ready to pay a huge amount to add on advisory services to your account, you can start with traditional brokers. Make choice as your own trade scenario.

Novice traders’ note: What is demat account?

Check the demat account meaning here:

Demat account is used to store stocks/shares digitally. The format supports the high level authentication. That facilitates the safety of shares from any fraudulence and theft. One can keep track of the same. The process is taken ahead with the help of stock broker. You can open demat account with the broker of your choice. The demat account should be registered with CDSL or NSDL. The two Indian depositories are extended to Central Depository Services Ltd and National Securities Depository Ltd. Both are Mumbai based depositories and hold securities in either in certificated or dematerialized form. Book entry transfer of securities takes place under their supervision.

How Demat and Trading account in India are correlated?

The placing of orders at stock market take place through the trading account. When you buy shares with the help of trading account, they will be stored in the Demat account. Whenever you want to sell those, you can withdraw them from the Demat account to the trading account and sell in stock market. So, it clearly states that demat account is used to store shares safely. It facilitates share transaction at the time of requirement. The demat account charges are also discussed later in this post.

Prime discount brokers offering leading demat accounts in India

Here, you find the low brokerage demat account. The demat account charges are also given individually.

Wisdom Capital Demat Account

Demat Account Charges

Demat Account Opening Charges: Nil

Demat Account Maintenance Charges: Nil in its ultimate plan

Demat Transaction Fee: Rs 17/ scrip

5 Paisa Demat Account

Demat Account Charges

Demat Account Opening Charges: Nil

Demat Account Maintenance Charges:  Rs. 400 per year

Demat Transaction Fee: 0.025% or Rs. 25 whichever is Higher

SAS Online Demat Account

Demat Account Charges

Demat Account Opening Charges: Rs 200

Demat Account Maintenance Charges: Rs 200

Demat Transaction Fee:  Rs 9 per debit instruction + depository charges at actual

SAMCO Demat Account

Demat Account Charges

Demat Account Opening Charges: Nil

Demat Account Maintenance Charges: Rs.400( for Individual) & Rs.800( for Corporate)

Demat Transaction Fee: 25 or .02% whichever is higher(including depository fee)

RKSV Demat Account

Demat Account Charges

Demat Account Opening Charges: Rs. 150

Demat Account Maintenance Charges: Rs. 150/year

Demat Transaction Fee: Rs 18.5/scrip

Trade Smart Online Demat Account

Demat Account Charges

Demat Account Opening Charges: Rs 500

Demat Account Maintenance Charges: Rs 300

Demat Transaction Fee: Rs 15 minimum or 0.02% subject to maximum of Rs 50

Major demat account list comprised of traditional brokers:

The brokerage charged by the full-time brokers is higher than the discount brokers offering low brokerage demat accounts.

ICICI Direct Demat Account

Demat Account Charges

Demat Account Opening Charges: Nil

Demat Account Maintenance Charges: Rs 500(After one year)

Demat Transaction Fee: Rs 25/-

HDFC Securities Demat Account

Demat Account Charges

Demat Account Opening Charges: Nil

Demat Account Maintenance Charges: Rs 750

Demat Transaction Fee: Rs 25/transaction

Kotak Securities Demat Account

Demat Account Charges

Demat Account Opening Charges: Rs. 100

Demat Account Maintenance Charges: Rs 500(After one year)

Demat Transaction Fee: 0.04% of value of securities or Rs 27/- whichever is higher

SBI Securities Demat Account

Demat Account Charges

Demat Account Opening Charges: Rs. 2500/-

Demat Account Maintenance Charges: Rs. 750 per year

Demat Transaction Fee: Rs 35+ additional

ShareKhan Demat Account

Demat Account Charges

Demat Account Opening Charges: Nil

Demat Account Maintenance Charges: Rs 400 per year

Demat Transaction Fee: Rs 16 per scrip

Angel Broking Demat Account

Demat Account Charges

Demat Account Opening Charges: Nil

Demat Account Maintenance Charges: Rs 450 per year

Demat Transaction Fee: Rs 25/debit transaction

Method to open the best demat account in India, what is actually required?

As a client, you will have to fill the account opening form with some other KYC (Know Your Client) docs. You need Photograph, PAN (Permanent Account Number) and other id proofs. Further, the other necessary KYC forms are to be filled. The DP-Client agreement(rights of the trader and the responsibility of the Depository Participants etc) is also taken into context with those forms.  After signing pre defined agreements, their details etc You need to submit your filled KYC forms with your PAN card, passport size photos and copy of other needed docs. Further the in-Person Verification is done by the person from your selected DP’s firm who will validate the information if he finds it all correct and clear. Moreover, after the application is processed and taken ahead, you get an unique account number i.e. Beneficiary Owner Identity (BOID),  needed to operate your account or for future transaction. The demat account opening are applicable with some brokers and few offer the account opening completely free. The information related to this context is also given further.

Benefits you get with best demat account in India

  • Your shares are 100% secured with top demat account.
  • Faster transfer of shares, auto-updates of split, merger, bonus, etc.
  • Prime demat account supports efficient online stock trading.
  • You can view all the investments on one place.
  • Use of demat account reduces paperwork in transfer of securities and maintains efficiency, it reduces associated cost too.
  • Direct credit of all dividends and interests in the demat linked bank account.
  • It avoids misplacing of the physical certificates.
  • Demat Account contributes in maintaining the trading accuracy.

 

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