In India, opening a Demat account is the primary step toward participating in the share market, index funds, initial public offerings (IPOs), and non-convertible debt instruments (NCDs).
However, Finding a Lifetime Free Demat Account with no Annual Charges is quite difficult. In this post, we will find out what is a demat account & the list of companies which offer Zero AMC Demat Account.
Table of Contents
What is a Demat Account?
A Demat account works in the same way as a bank account. The main contrast is that you retain stocks, mutual funds, or securities in digital form in a Demat account rather than cash.
Shares and mutual funds should be kept in a demat account for a variety of reasons, including increased security and speedier trades.
The annual maintenance charge (AMC) payable by the client to maintain the account operational is known as the Demat AMC. Even if you don’t use it, you must pay the AMC as long as you have a demat account.
Lifetime Free Demat Account with no Annual Charges
In India, certain brokers offer AMC free Demat Account. Under this system, the customer is not required to pay any yearly fees. Some restrictions may apply, such as a one-time fee at account opening or refundable deposits.
These are the best demat accounts for beginners because they save money. Brokers who provide Lifetime free Demat Accounts typically charge a one-time fee or a small refundable deposit, such as Rs 1000 to offer Zero AMC Demat Account.
Companies with Lifetime Free Demat Account
Here is the list of the companies which offer Free Demat account with no Annual Charges:
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Groww
Four Flipkart employees — Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh – left their jobs in 2016 to launch a business that would make investing simple. Groww was the name given to this venture, which began operations in 2017.
In the first part of 2020, Groww added equities, and in the same year, it offered digital gold, ETFs, intraday trading, and IPOs in rapid succession. Groww is trusted by more than 1.5 crore users in 900+ major Indian Cities for their financial requirements.
They provide a free demat account for life with no annual charges. They also provide users with a free mutual fund investment option.
To Open the demat account click here
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Prostocks
SP Toshniwal and Saurabh Ranka launched Prostocks in February 2016 as a Sunlight Broking LLP initiative. Forex trading, securities and derivatives trading, and depository services are all provided by professional stocks.
Prostocks provides a free online paperless account as well as a lifetime AMC free demat account. For intraday and F&O trades, a customer can get a fixed fee of Rs 15 per trade.
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Itradeonline
Dr. Mukesh Kansal founded Itradeonline, which is next on our list. They have a mission to eliminate intermediate resources from clients and brokers, which helped us save money. They put their money into technology and offered inexpensive brokerage to its clients.
There is no need to pay upfront fees with iTradeOnline; instead, consumers must pay Rs 20 or 0.03 percent each executed order, whichever is lower.
It offers cutting-edge trading tools that are designed to make trading as simple as possible. This discount broker operates in all market categories.
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Finvasia
Finvasia provides financial services such as zero brokerage, zero clearing, zero account opening, and zero annual maintenance charge, to name a few.
The firm has advised institutional customers on investments in 14 nations and serves as a one-stop shop for Foreign Portfolio Investors (FPIs) looking to engage in Indian markets.
Finvasia was founded by ex-Wall Street professionals with extensive financial knowledge, with the goal of making financial tools more accessible and inexpensive to investors.
In 2016, the company obtained FDI capital worth INR 1.5 billion from a few of the sector’s most well-known Venture Capitalists.
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Rmoney
Raghunandan Money, founded in 2004, is a staunch believer in the power of information to bring you happiness through higher market returns and better value for money. They have established a number of success milestones in less than a decade.
With their devoted staff of 300+ people scattered throughout 250+ sites, they are now giving smiles and financial success to 50,000 satisfied clients throughout 200+ cities and towns. They also have options with no brokerage, clearing, account opening, or annual maintenance fees.
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Trustline
Trustline has grown a long way since its inception in 1989, establishing a strong position in the financial sector. Through their extensive network of offices (400+) across India, they provide personalised investment solutions.
They are CDSL and NSDL depository participants, as well as members of the NSE, BSE, NCDEX, and MCX. It is a full-service broker based in Chennai that specialises in stock research and asset management.
Financial research is Trustline’s core competency, with a concentration on the mid- and small-cap space. They also provide a free lifetime free demat account without amc.
Conclusion
With some limited conditions you can find a Free Demat account, However, you must go through the terms and conditions to make sure you will not feel cheated after opening a Demat account.
This is all from our side regarding the amc free demat account. Let us know your views in the comment section.
Other Interesting blogs related to Lifetime Free Demat Account
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Frequently Asked Questions About Lifetime Free AMC Demat Account
Which demat account is lifetime free?
Groww, Prostocks,Finvasia, and Itradeonline offer Free Demat account for lifetime.
Is there any free demat account?
Yes, there are many companies offer lifetime free demat account including Groww, Prostocks,Finvasia, and Itradeonline.
Which demat account have no annual charges?
Groww is the mainstream Stock market Broker which offer demat account have no annual charges.
Which is the best free demat account?
The Best Free Demat account is Groww. Which comes with no maintenance or annual charges.
Is Zerodha AMC free?
No, Zerodha is not AMC free. They charge INR 75 per quarter which becomes INR 300 Annually.
