Every prospective investor needs a lifetime free demat account to get started with investing in the stock market. It is necessary, as a dematerialization (demat) account is needed to keep shares.
It is similar to how a normal bank account functions, but instead of storing money for the client, the dematerialization account instead stores the investor’s shares.
In addition to shares, bonds, mutual funds, or other investments in an electronic format can also be kept in the demat account. Keeping your electronic investments in your demat account has advantages such as good security and faster speed of transactions related to shares.
An annual maintenance charge is put on the user of the demat account by the stockbroker where the demat account is opened. This charge is also called AMC and paid by the investor; otherwise, the account will be deactivated.
So basically, a lifetime free demat account is a demat account in which the investor will not have to pay any yearly charges or annual maintenance charges to the broker at all. There will still be some other charges, including the one-time fee for opening such an account.
These accounts are a very good option for avid investors and stock investing professionals. This is so as their daily job is to invest and partake in the selling and buying of shares, so they need to use their demat accounts very frequently and for a long period. So if they are confident that they will be investing for the foreseeable future and many years, then opening a lifetime demat account is a no-brainer due to the cost reduction.
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Lifetime Free Demat Account In India 2021
Now let us talk about the various stock broking companies in the Indian market that offer this service of a lifetime free demat account to their clients.
1. Nextbillion Technologies (GROWW) Demat Account
GROWW is the best lifetime free demat account in India 2021. It commands a wide user base and has one of the most trusted and used stockbroking sites and services right now.
The company is valued at more than a billion dollars and is definitely one of the trustable and credible companies. GROWW offers the service of a lifetime free demat account to all its clients and investors.
What makes the deal even sweeter is that GROWW also does not charge trustworthy and credible clients for the opening of the account and no AMC ( Annual Maintenance ) charge. The one major flaw of opening a demat account with this company is that it does not support any other futures and options and only allows trading in stocks to the user.
Read the full review here: Groww App Review.
2. Paytm Demat Account
Paytm is the most famous lifetime free demat account in India though it is not a professional stockbroker. It is one of the most reputed providers of financial services in India and has a user base of over 350 million active users.
So it would make sense for the undeniable mogul of this segment to open an option for a demat account and their normal services. This is so as a dematerialization account is nothing but an online wallet for your shares and investments instead of money.
Paytm Money gives the option to the users of having a free demat account for life. The investors just need to pay a one-time charge to the company for the opening of the account.
Read the full review here: Paytm Money Review.
3. TrustLine Demat Account
Trust line lifetime free demat account in India is one of the many up-and-comers in this segment. The company offers the service of charge trustworthy lifetime, and credible, free demat accounts to its clients.
There is no extra annual maintenance charge or any one-time account opening charge even required. This makes trusting an excellent option as it is a full-service broker too, and in addition to not charging any fee, it also provides further services such as asset management to the user.
4. ProStocks Demat Account
Pro stocks is the latest addition to our lifetime free demat account in India 2021 list. It offers a lifetime free demat account to the customer as one of its services, a company offering a multitude of services such as derivatives trading, currency trading, derivatives trading, and other depository services.
The lifetime free demat account is safe from any charges such as account opening or AMC charges. The only charge is a 15 INR charge per trade for futures and options and intraday trading by the user.
Read the full review here: ProStocks Review.
5. Finvasia Demat Account
Finvasia is our last choice of lifetime free demat account in India 2021. It is a finance and technology company that offers a free lifetime demat account alongside other services like no clearing charge, zero brokerage, and no AMC at all. In addition, there are zero charges for the opening or annual maintenance of the demat account.
If all that is not enough, Finvasia also does not charge any brokerage or trading charges from the customer at all.
This guide explains the importance of having lifetime free demat accounts and lists down some of the best platforms for the same.