First timers often confuse between a stock trading account and a demat account.
Seeing that, the trading account with some stock brokers is free, some assume there are no fixed yearly charges to pay.
While most brokers provide you their trading account for free, their demat account comes with a recurring Annual Maintainance Charge.
The stock brokers demat AMC fees in India, often varies from 300 INR upwards per year, depending on the broker you choose.
You are also charged a Demat Debit Fee (aka. demat transaction fee), every time a stock moves out of your demat account.
While it is a common practice for all the stock brokers in India to charge a demat debit fee, not all stock brokers in India has an Annual Maintainance Charge ( Demat AMC ) for maintaining your demat account with them.
Which broker provides a Zero AMC Demat Account in India?
Fyers Stock broker in India, provides a Zero AMC Demat Account Service for their trading clients. No fixed recurring charges every year.
With Fyers you can have a FREE TRADING Account and own a DEMAT Account with no yearly fees.
You pay only the Demat Debit Fee which is 15.5 INR per transaction.
A commendable offer from a stock broker, helping their clients find value in all the services they provide.
UPDATE APRIL 2020 regarding Fyers Demat AMC.
From april 2020, Fyers now charges an annual amc of 300 + GST for new clients, however demat accounts signed up before April 2020 will continue using their demat services with no AMC.
If you missed out on this opportunity and still looking for a demat account with no AMC, you can check out with Finvasia Stock broker. They still provide their demat services with no AMC.