Demat Account Opening Charges

Do you want to earn money in the share market? If you are thinking of investing some part of your capital in the stock market, then you need to have a demat account. A lot of stockbrokers are offering demat account services now and for providing the same they can charge some demat account opening charges as well.

In this article, we will look at the meaning and importance of the Demat account opening charges.

Demat Account Opening Charges At Choice

Is Demat Account Free?

Yes, the Demat account opening is free. The charges are applicable on other things like AMC, intraday, delivery, option and others.

Charges may differ from broker to broker. Whenever you open a demat account with a stockbroker, your basic requirement is to get the best services and assistance. These general requirements are often chargeable in the form of the demat account opening charges.

A lot of stockbrokers, both discount and full-service brokers charge some account opening charges. They offer a variety of Demat accounts including 2-in-1 and 3-in-1 accounts as well.

If your stockbroker charges you opening fees, it is important to note that this is a one-time payment and should not be charged again. Apart from the account opening charges, there are some demat account AMC charges as well. These are levied by the depository participants either annually or monthly for the maintenance of the demat accounts.

But the question is: is demat account free? Is there any way in which you can open a demat account free of cost? The answer is yes, you can. Now a lot of stockbrokers are offering the services to their clients to open a demat account for free.

When it comes to demat account charges, Choice India is the one that comes up with the provision of lets you open your demat and trading account at absolutely no cost and that too in some simple steps. Apart from this, the clients are even exempted from paying the AMC charges in the first year.

Now let us have a look at how to open demat account for free.

How to Open a Demat Account Free?

With the advancement in technology, opening a Demat account has become a child’s play. All you need are the documents required for demat account opening and a little time. You can also continue the process of demat account opening online and opening a free demat account by just sitting in the comfort of your house.

Let us have a look at how you can open a demat account with Choice India.

• Open the website and click on open a demat account.
• Now fill in your necessary details like name, phone number and city. After this, you have to enter your complete PAN card number and date of birth.
• After this, you will see a window where you have to add your phone number and email ID. You will then receive an OTP on both. On successful verification, you can proceed to the next step.
• Further, you need to enter all your basic details like name, father’s name, mother’s name, marital status, etc.
• Now choose one plan for demat account AMC charges. With Choice India, you can choose one out of the three plans, ranging from ₹200-₹3000.
• Now upload all the necessary documents.
• Post this, you will be redirected to the NSDL website for the e-sign process. Enter your Aadhar card number and verify.
• On successful verification, your demat account will be activated within 4 hours of your document verification.

Conclusion

So, all stockbrokers can levy some Demat account opening charges but when you find the right stockbroker, you can avail of a free Demat account as well. Although, there is the majority of stockbrokers offering free Demat account opening now. You still need to analyze the best services according to your needs and then work accordingly.

If you are ready to start your stock market journey with minimum charges, open a Demat account today!

FAQ

Is Demat Account Safe?

Your Demat account is safe because SEBI (Securities and Exchange Board of India) keeps a close eye on things and has strict rules. This means there's very little chance of fraud. SEBI also makes sure you don't have to sign a power of attorney with your stockbroker, which adds an extra layer of protection for you.