Top Demat Accounts Offering Zero Maintenance Fees

Opening a demat account is the first step toward investing in India’s stock markets. But one recurring cost that often surprises new investors is the Annual Maintenance Charge (AMC), a fee brokers charge every year to maintain your demat account.

The good news?

In 2025, several leading brokers in India now offer “Lifetime Free Demat Accounts” or zero AMC plans, making investing more affordable than ever.

In this article, we’ll explore the top brokers offering free demat accounts with zero AMC, explain what makes each unique, and help you choose the right one for your investment goals.

Top Free Demat Accounts with Zero Maintenance Charges

Groww

Key Highlights

• Account Opening Charges: ₹0
• Annual Maintenance Charges (AMC): ₹0 (Lifetime Free)
• Paper-less online account opening 
• Equity Brokerage: ₹20 per trade (flat) or 0.05% per executed order (whichever is lower).

No. 1 on our list of brokers offering free demat accounts with ₹0 annual maintenance charges is Groww. Along with zero AMC, Groww’s account opening charges are also ₹0.

Groww is India’s No. 1 stockbroker, with 1 crore+ active investors and traders. It lets users invest in stocks, directly-only mutual funds, IPOs, ETFs, NFOs, bonds, and digital gold in the form of gold ETFs and gold mutual funds from one unified app.

Further, traders can use the Groww app to trade in F&O, commodities, intraday, and APIs.

Fyers 

Key Highlights

• Absolutely free AMC, excellent for buy‑and‑hold investors.
• Transparent list of “what else might cost” (pledge/unpledge, off‑market transfers) so fewer hidden surprises.

FYERS is another broker advertising “opening & maintenance free” of its Demat account. They clearly state: Account opening is ₹0, and Annual Maintenance Charges (AMC) are ₹0. FYERS is a very cost‑effective choice, especially for investors focused on minimal fees and holding for longer durations.

Dhan

Key Highlights

• Dhan offers a demat account with ₹0 account‑opening charges and ₹0 annual maintenance charges (AMC)
• Supports multiple segments: equities, ETFs, IPOs, futures/options, commodities.
• Fully online digital onboarding

Dhan has positioned itself as a broker appealing to both investors and traders. Its ecosystem includes multiple platforms: a mobile app and a web app. It is well‑suited for traders and investors who want a feature‑rich, modern platform and are comfortable with something not yet as entrenched as some incumbents.

Shoonya by Finvasia

Key Highlights

• Shoonya offers zero account opening charges and zero annual maintenance charges (AMC) for demat accounts.
• For intraday/futures/derivatives segments, the brokerage is flat ₹5 per executed order (or 0.03%, whichever is lower) in many cases.

Shoonya (operated by Finvasia Securities India Pvt Ltd) is known for its positioning as a “zero brokerage”/low‑cost challenger. It offers a multi‑asset platform (equity, futures/options, commodities, currency derivatives).

Even with low brokerage, you still must pay all regulatory/transaction charges (STT, exchange turnover charges, stamp duty) which are outside brokerage.

INDMoney

Key Highlights

• INDmoney offers a free demat account (or at least a “free*” demat + trading account) with no account maintenance charges mentioned in their key features.
• Beyond demat/trading, their platform offers portfolio tracking: you can link external demat accounts in one dashboard to get insights and “portfolio health” reports.

Last but not the least, IndMoney takes a somewhat different angle: it combines broker/trading functionality with a broader “finance tracker” model.

If your aim is more than just day trading, for example, you want a single app to track all your finances/investments (stocks, mutual funds, portfolios), INDmoney offers a broader “super‑money app” angle.

Conclusion 

If your priority is simply to avoid paying any annual maintenance charge for a demat account, then the brokers listed above are very good options. Each has its strengths and trade-offs.

Make sure you check today’s fee schedule, consider your investment style and other charges, then pick the one that fits.

Disclaimer: The content above is presented for informational purposes as a paid advertisement. The Tribune does not take responsibility for the accuracy, validity, or reliability of the claims, offers, or information provided by the advertiser. Readers are advised to conduct their own independent research and exercise due diligence before making any decisions based on its contents and not go by mode and source of publication.