Your Demat account charges Rs.300-700 yearly as AMC (Annual Maintenance Charge) - even if you don't trade. Over 10 years that is Rs.3,000-7,000 lost. Here are zero-AMC Demat options in 2026.
What is AMC?
Charged by DP (Depository Participant - CDSL/NSDL via broker) for maintaining your Demat. Paid yearly via bank auto-debit or deducted from trading balance.
Brokers with Zero AMC
Groww
- AMC: Rs.0 forever
- Good for: Mutual funds + occasional stock trading
- Brokerage: Rs.20 on all segments (including delivery)
Upstox (on Basic Plan)
- AMC: Rs.0 (₹150 on Pro plan)
- Brokerage: Rs.20 flat on all
Brokers with Low AMC
Zerodha - Rs.300/year
- First year free
- Rs.300/year (+GST) from year 2
- Worth it for: Rs.0 delivery brokerage, Kite app, Coin, Varsity education
Angel One - Rs.20/month
- From year 2 onwards
- Rs.240/year approximately
AMC vs Brokerage Trade-off
Important: Zero AMC does NOT mean cheapest overall. Groww charges Rs.20 on delivery - if you trade a lot, it costs more than Zerodha (Rs.0 delivery + Rs.300 AMC).
Example: 50 delivery trades/year:
- Groww: Rs.0 AMC + Rs.20 x 50 = Rs.1,000
- Zerodha: Rs.300 AMC + Rs.0 x 50 = Rs.300
Who Should Pick Zero AMC?
- Long-term holders (1-2 trades/year)
- SIP investors only
- Students/housewives with limited capital
Who Should Pick Zerodha (Rs.300 AMC)?
- Regular traders (10+ trades/year)
- Want best app and education
- F&O / intraday traders
Still want to open Zerodha for its free delivery + Kite? Click below.
