Is Demat Account Free?

Is Demat account free? If you have ever thought about starting your stock market journey and opening a demat account, this question might have crossed your mind. After all, who doesn’t like the idea of some freebies?

While everything comes for a price, there still is an opportunity for a free Demat account. Let us understand everything in detail, in this article.

Demat Account Opening is Free?

There are a lot of stockbrokers offering demat accounts in India. If you want to start stock market investment it is important that you complete the demat account opening.

Whenever you start something or open an account, you have to pay some charges to avail all the services. But is it the case with a demat account as well?

Is it free to open a demat account in India?

The answer to this question is, Yes. There are a lot of stockbrokers who let their client open a demat account free of cost.

In the earlier times, all the stockbrokers usually charges some demat account opening charges, but with the growing competition and enhancement of the industry as well, a lot of stockbrokers now charges nothing for opening a demat account.

With Choice you can open a free Demat account conveniently and in a few steps.

There are other demat account charges as well, like the Account Maintenance Charges or the AMC charges. These are levied by the broker for the maintenance of your demat account. Now different brokers have different prices and also different periods of charging the clients.

Some brokers charge this fee on an annual basis, while others adopt the monthly payments. Various stockbrokers have now reduced the AMC in order to yield more clients, whereas before the competition, the AMC charges were very high. The AMC charges can range anywhere between ₹200-₹4000 as well.

When you open a demat account with Choice, you don’t have to pay any AMC for the first year. From the second year onwards as well, you get to choose from three different AMC plans, as per your need.

With this, you also get a chance to avail a lifetime free demat account. Wondering how?

Let us have a look at the different AMC plans of Choice.

• Yearly AMC Plan- If you select the yearly AMC plan, you have to pay ₹200+GST every year, from the second year onwards.
• Lifetime AMC Plan- In this plan, you have to pay ₹1500+GST once and post that you will not be charged any AMC.
• Refundable AMC Plan – This is the plan that gives you the chance for a lifetime free Demat account. You have to pay ₹3000+GST and when you will close your account with Choice, the entire amount will be refunded to you.

So, these are the ways in which you can avail a free demat account.

Conclusion

If you are looking for a free demat account, then there are various brokers that give you the facility of opening your demat account at absolutely no cost. But before availing of services, it is important to consider, is demat account safe? You can choose one of them according to your needs and open your demat account.

If you are looking to open a demat account and also a chance to avail the best AMC plans, then you can open your demat account with Choice.

So why wait? Open your demat account today and start investing!