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Banking, Finance, Investment

Best Demat Account in India & Top Banks to Offer Demat Accounts in India

You will need an account to track everything if you want to try your hand to invest. A single Demat account can be used to invest in a number of different financial instruments. These instruments include bonds, mutual funds, exchange-traded funds, stocks, and government securities. It is easier to receive refunds, dividends, and interest payments because a Demat account is linked to a bank savings account. This allows for faster and easier payments to all of a company’s shareholders, as well as lower associated costs.

You’ve come to the right place if you’re looking for the best Demat account in India:

Zerodha Demat Account

In India, Zerodha is one excellent option for opening a Demat account. Zerodha, a discount broker based in Bangalore, was founded in 2010 and has made a significant impact on India’s discount broking model. You can invest in stocks, mutual funds, derivatives, and more through the platform. The discount broker provides excellent customer service, including phone and ticket support 24 hours a day, seven days a week.

With over 30 lakh users, Zerodha is the largest and most trusted discount broker. The main reason for Zerodha’s success is its superior customer service to all other discount brokers. Zerodha charges a lower brokerage fee of 0.03 percent per executed order or Rs. 20 per executed order, whichever is lower. If you trade in large volumes, you can save up to 90% compared to other full-service stockbrokers. At Zerodha, stock delivery is completely free. With Zerodha, you’ll get trading platforms with advanced charts and other technical analysis tools.

Zerodha’s Key Advantages:

  • Zerodha’s delivery is completely free.
  • On delivery, there is no brokerage fee.
  • There is no minimum brokerage cap per transaction.
  • Regardless of transaction volume, the maximum brokerage charge is capped at Rs 20.

Upstox Demat & Trading Account 

Due to low brokerage fees, advanced technology platforms, and high margins, Upstox is one of the best discount brokers in India. For the year 2021, Upstox is the best place to open a Demat account in India. Upstox is a discount broker based in Mumbai that is backed by some of the biggest names in the industry, including Ratan Tata, and is used by over 40 lakh traders. Upstox offers advanced charts and tools, as well as low brokerage fees.

Upstox charges a fixed intraday brokerage of Rs. 20 per trade, regardless of the trading volume, and offers free stock delivery. When compared to other full brokers, you can save a lot of money on brokerages. Upstox provides the fastest and best online trading platform in India, which is the most important requirement for trading.

Benefits of an Upstox Trading Account :

  • There are no delivery brokerage fees with an Upstox Trading Account.
  • Exceptional trading platforms
  • Regardless of trade volume, fixed and low brokerage

5Paisa Demat Account

It has a simple fee structure. The discount broker is also available as a mobile app, with a very user-friendly interface. Under the addon Ultra Trader pack, 5Paisa charges the lowest brokerage fees of flat Rs 10 per trade. You can make a single trade worth crores and pay only Rs 10 in brokerage.The Ultra Trader pack is available for Rs. 999 per month. 5Paisa charges a brokerage fee of Rs. 20 per executed order without the pack.

You can trade using the 5Paisa mobile trading app. In terms of ease of use, user experience, and speed, the 5Paisa mobile app is the best in India. After submitting all of the required documents, your 5Paisa account will be opened the same day. If you’re looking for the cheapest brokerage demat account, 5Paisa is the way to go.

Benefits of an Upstox Trading Account :

  • The cheapest brokerage fees are Rs 10 per trade.
  • On delivery, there is no commission.
  • The quickest way to open an account
  • Provides the best trading app that is simple to use.

IIFL Demat Account 

With over 40 lakh customers, IIFL Securities Ltd (IIFL) is one of the largest full-service stockbrokers. Investors who require guidance and research assistance when making investment decisions should consider an IIFL Demat account.

For trading and value investing, you’ll have to pay a percentage-based brokerage fee. Variable brokerage, flat brokerage, and value-added brokerage are the three brokerage plans offered by IIFL.

Advantages of an IIFL Demat Account:

  • Account opening is free, and the first year is free AMC
  • In comparison to other full-service brokers, we charge lower brokerage fees.
  • 500+ stock research reports, sector overviews, daily stock tips and recommendations
  • IPOs and mutual fund investments are examples of value-added services.

Angel Broking Demat Account

Angel Broking is another well-known stockbroker in India, with offices all over the country. You can get a free movie ticket by opening a Lifetime free Demat account with Angel Broking.The customer service provided by Angel Broking is excellent. Only if your Adhaar Card is linked to your mobile number do I recommend Angel Broking.After validating your identity with an Adhaar OTP, you can complete your entire application online and begin trading.

Trading Platforms  provided by Angel Broking.

Angel Broking Trade– is a web-based platform that allows you to track your portfolio and trade online. The platform gives users access to real-time market data and news. For transactions, I use the Angel Broking trade platform.

Angel Broking App – Personalized advisory powered by ARQ technology. You can use the app to trade, check current market prices, and keep track of your portfolio.

Angel Speed Pro– is a software package that includes 30 days of intraday data and 20 years of historical data. The platform includes news flash and allows users to access a variety of reports.

Key Takeaway!

After reading this far, you should have a good idea of all the brokers that offer the best Demat account in India. Choosing a suitable broker platform, on the other hand, is entirely up to you and is heavily influenced by your trading perspective, which can be long-term, short-term, or intraday.

As a general rule, you should select an affordable service that meets your needs, and you should always thoroughly examine the application and technical analysis tools before selecting a broker. Consider brokerage fees, advanced charts, and technical analysis tools carefully.

Top Banks to Offer Demat Accounts in India [3-in-1- Account]

The full form of a Demat Account is a dematerialized account that is used to hold shares in an electronic form. In 2006, banks stepped into the broking business then the concept of 3-in-1 demat account came. Before that it only included a trading account and demat account, opening and managing different accounts for different purposes was inconvenient. 

The 3-in-1 bank account is an integration of three accounts namely demat account+trading account+saving bank account. The saving bank account allows you for monetary transactions while demat is used to hold your stock in dematerialized formate and trading allows you to buy and sell shares. It all makes the stock market investment easy and secure for the investors as well as to those who are beginners in the stock market. All three accounts are linked with each other and make a seamless transaction between them. We don’t need to place a request to any broker for buying or selling.

So. if you’re thinking about investing/trading in the stock market then you must have a demat account and trading account along with a saving bank account. 

All the national banks offer the 3-in-1 demat account which includes HDFC Bank, SBI, AXIS Bank, ICICI Bank, etc. To know more about the top bank to offer 3-in-one demat account, read the full article.

Advantages and Disadvantages of 3-in-1 demat accounts

Advantages:

1)Transfer of funds is seamless and quick. The funds will be directly credited to or debited from your 3-in-1 debate account.

2)It reduces paperwork. There is no need to open individual trading account and saving account. All are integrated into one. 

3) It has multiple investments assets such as fixed deposits, mutual funds, bonds, etc.

4)There will be no stamp duty applied on transferring of shares, which decreases the transaction cost.

5)It saves time while logging in to the demat account, trading account during the transaction.

Disadvantages:-

1)It has very high brokerage charges that vary from one broker to the other.

2)In a saving bank account, a minimum average balance is required which is hard to maintain.

3)It has higher yearly maintenance charges and opening account charges. 

Here is the list of best banks to offer Demat Account [3-in-1-Account].

1)ICICI Bank

2)HDFC Bank

3)Axis Bank

4)Kotak Mahindra Bank

5)State Bank of India

1) ICICI Bank:

ICICI Bank’s brokerage arm known is as ICICI Direct. It is one of the reputed banks of India. As compared to the online discount broker like Zerodha, Angel Broking and, Upstox, brokerage charge is high at ICICI Direct and offers the services such as mutual funds, Derivatives, Equities, Currency trading, fixed deposit while Commodity trading is not offered by the ICICI Direct. It provides a convenient way to manage and transact because all the investments is available at one place.

2)HDFC Bank: 

HDFC is the second largest bank in India and started providing demat services in the year 2000. HDFC broking arm known as HDFC securities. It allows you to invest in services such as Derivatives, Mutual Funds, Equity, Currency Futures, Fixed Deposits, Loans, New Pension Systems and Insurance, Tax Services. You can also get value-added services such as loans against shares. 

3)Axis Bank:

It is the sixth-largest stockbroker in India and started its operation in year 2005. Axis bank broking arm is known as Axis Direct. It has over 1.5 lakh active customers. Bank has a mobile app and website through which investors can easily trade, managed their demat account online. It provides investing in the stock market and in financial products such as insurance, mutual funds, and many more. 

4)Kotak Mahindra Bank:

It is the fourth biggest stockbroker and was established in the year 1994. It allows us to trade in IPO’s, Bonds, FDs, ETF’s, Equities, F&O, Mutual Funds, and Currency derivatives, etc. The bank has its brokerage arm which is known as Kotak Securities. Add-on services provided by them are relationship manager, technical research, market pointers, training and education, periodically research reports, and tips & recommendations. Kotak Securities is a corporate member of the National Stock Exchange(NSB) and Bombay Stock Exchange(BSE).

5)State Bank of India:

The bank has its brokerage arm which is known as SBICAP Services. It is the tenth-largest stock broker in India. SBI Bank has been around us for more than a decade. It is strongly present in rural as well as urban areas. They provide magnificent guidance for the investors. The facilities offered by them are IPOs, Equity Cash, Equity Derivatives, Loan against securities and mutual funds, etc, and provide the best facilities to Indians as well as NRIs.

Conclusion

All the large banks offer 3-in-1 demat accounts with the best option for investors and beginners in this stock market. Be clear about the charges, facilities, reputations, etc before choosing the best bank for your investment. If you want to save your brokerage cost up to 90% then you can move to discount brokers such as Zerodha, Upstox, 5paisa and ProStocks, and many more.

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