Cheapest Demat Account in India 2026: Save Brokerage, Maximize Profits
Investing in the Indian stock market has become one of the most popular ways for retail investors to grow wealth. At the foundation of your stock market journey is a Demat account — the digital vault that holds your shares, bonds, ETFs and other financial instruments in an electronic form. But with so many options available in 2026, the big question for savvy investors remains:
Which is the cheapest Demat account in India that helps me save on brokerage and maximize returns?
In this article, we’ll break down the most affordable Demat accounts in 2026, compare their brokerage charges, account opening fees, AMC (Annual Maintenance Charges), and help you choose the most cost-effective option based on your trading style.
Why Choosing the Right Demat Account Matters
A Demat account isn’t just a gateway to the markets — it can also be a cost center if you’re not careful. Fees like AMC, per-trade brokerage, DP charges, and hidden costs can eat into your profits over time.
Here’s what to focus on before choosing a broker:
✔ Account Opening Fee (AOC) — Ideally zero or minimal
✔ Annual Maintenance Charges (AMC) — Free or lowest possible
✔ Brokerage on Trades — Lower charges mean better profit retention
✔ Regulatory & DP Charges — Look for transparent structures
✔ Features & Platform Tools — Usability matters too
A smart choice here can easily save you thousands of rupees annually — especially if you’re an active trader or long-term investor.
Top Cheapest Demat Accounts in India (2026)
Here’s a snapshot of the leading low-cost Demat accounts available in India today:
1. Zerodha – Industry Standard for Low Cost
Zerodha continues to be one of the most popular discount brokers in India, known for its transparent pricing, robust platform (Kite), and educational resources.
Account Opening Fee: ₹0 (free)
AMC (Annual Maintenance Charge): ₹300 + GST (waived under BSDA rules if eligible)
Brokerage:
Equity Delivery: ₹0
Intraday & F&O: ₹20 per executed order or 0.03% (whichever is lower)
Best For: Investors who focus on long-term equity and want transparent pricing without hidden costs.
💡 Zerodha offers free equity delivery brokerage and simple flat fees for active trades.
Pros: Zero delivery brokerage, powerful trading tools.
Cons: AMC applies if BSDA criteria aren’t met.
2. Upstox – Lowest Annual Fees + Competitive Brokerage
Upstox is another discount broker that’s picked up traction among cost-conscious traders.
Account Opening Fee: Free
AMC: ~₹150 per year
Brokerage:
Equity Delivery: ₹20/order or 2.5% (whichever is lower)
Intraday: ₹20/order (or 0.05% lower)
Best For: Traders who want low annual charges and flexible pricing.
💡 Upstox combines advanced trading tools with inexpensive Demat costs.
Pros: Low AMC, strong platforms.
Cons: Brokerage not zero — pay per order.
3. Groww – Zero AMC, Beginner-Friendly
Groww has positioned itself as a beginner-friendly investing app with simple pricing.
Account Opening Fee: Free
AMC: ₹0
Brokerage:
Equity Delivery: ₹20 or 0.05% per executed order
Intraday & F&O: ₹20 per order
Best For: New investors and long-term holders who want no maintenance fee.
💡 Groww’s simple user interface makes it a favorite for first-timers.
Pros: Zero AMC, easy UI.
Cons: Higher brokerage per trade compared to Zerodha.
4. Angel One – Balanced Features & Low Cost
Angel One (formerly Angel Broking) is a well-known full-service broker with competitive discount pricing.
Account Opening Fee: Free
AMC: ~₹240 per year
Brokerage:
Equity Delivery: ₹0
Intraday & F&O: ₹20 per executed order
Best For: Investors who want a mix of research, advisory, and low costs.
Pros: Zero delivery brokerage and advisory support.
Cons: AMC applies but still low.
5. 5paisa – Low Fee Bundles
5paisa is another low-cost broker that offers bundled plans to reduce overall charges.
Account Opening Fee: Free
AMC: ~₹300/year (waived under certain packs)
Brokerage: ₹20 per order (flat rate)
Best For: Bargain hunters who trade moderately.
Pros: Transparent flat brokerage.
Cons: AMC is not the lowest.
Special Mentions: Free OR Ultra-Low Demat Offers
In 2026, some companies experiment with zero AMC offers or unique plans:
🔹 Certain new brokers advertise free lifetime AMC without charges — though you still pay regulatory and per-trade fees.
🔹 Basic Services Demat Accounts (BSDA) — Under SEBI rules, if your holdings are below certain thresholds, AMC can be waived entirely.
Tip: If you qualify for a BSDA account and choose a broker with zero or low brokerage, your annual costs may drop close to zero.
Comparing Key Metrics (2026)
Note: Charges are indicative and may vary depending on SEBI regulations and broker policies.
How to Reduce Trading Costs Further
Here are practical tips to minimize your overall investing costs:
✅ Leverage BSDA (Basic Services Demat Account)
If your holdings are below certain limits (e.g., ₹4 lakh), many brokers waive AMC altogether. That’s huge savings.
✅ Choose Zero Delivery Brokerage
Many discount brokers like Zerodha and Angel One offer free delivery trading — perfect for long-term investors.
✅ Avoid Frequent Trades
If you’re a beginner, the simplest way to cut costs is to reduce over-trading. Holding good stocks longer saves both brokerage and DP fees.
✅ Compare DP & Regulatory Charges
"Lowest Brokerage" charge for dematerialisation and rematerialisation, while others include it — always check the tariff sheet.
Conclusion: Best Picks for 2026
✔ Best Overall Cheapest Choice: Zerodha — zero delivery brokerage and simple fees.
✔ Best for Lowest Total Cost: Groww — zero AMC + free account opening.
✔ Best for Active Traders: Upstox — lowest AMC and solid trading tools.
✔ Balanced Broker with Advisory: Angel One — zero delivery brokerage with research support.
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