Annual Maintenance Charges (AMC) on demat accounts can quietly eat into your investment returns if you’re a long-term investor or a beginner. Thankfully, many brokers now offer zero AMC or lifetime-free demat accounts to help investors focus on growing wealth, not paying fees. Here are the top demat accounts in India with zero or waived AMC you should know about in 2026.
Best Demat Accounts With Zero AMC
Groww
Groww has emerged as one of India’s most popular online investment and trading platforms. At its core is a zero-account-opening and zero account maintenance charge Demat account, allowing users to start investing in equities without worrying about recurring maintenance fees.
With a Groww Demat account, investors can buy and sell stocks listed on the NSE and BSE, invest in ETFs, direct-only mutual funds, apply for upcoming IPOs, bonds, NFOs, and trade in F&O, intraday, commodities, and APIs.
The platform’s clean design, transparent pricing, and broad range of investment options make it an attractive choice for first-time investors and long-term wealth builders alike.
Upstox
Upstox is a well-known discount broker that periodically offers zero AMC Demat accounts, either permanently or as part of promotional plans. It provides a balanced mix of ease of use and trading tools, making it suitable for both beginners and experienced investors. With competitive brokerage rates and a widely used mobile app, Upstox remains a strong contender for those seeking a low-cost Demat account option.
Dhan
Dhan provides a zero AMC Demat account combined with a feature-rich trading experience. The platform supports multiple segments, including equities, derivatives, commodities, and ETFs. Known for its modern design and innovation-focused approach, Dhan appeals to both investors and traders. The absence of annual maintenance charges makes it appealing for individuals who want to minimise fixed account costs while enjoying access to trading features.
Shoonya by Finvasia
Shoonya is positioned as a low-cost trading platform offering zero AMC Demat accounts. It is particularly popular among cost-conscious investors who want to reduce both maintenance and brokerage expenses. The platform provides access to multiple segments, and its pricing structure is designed to be affordable for traders. For investors looking to keep overall trading expenses minimal, Shoonya can be a practical choice.
Navia and FlatTrade
Navia and FlatTrade are emerging brokerage platforms that offer zero AMC Demat accounts and focus heavily on cost efficiency. These brokers aim to attract price-sensitive investors by minimising recurring charges. They provide access to standard trading and investment segments, and their simplified fee structures appeal to long-term investors who prefer minimal ongoing expenses.
Fyers
FYERS offers a zero AMC Demat account along with competitive brokerage plans. The platform is widely recognised for its trading tools, making it suitable for traders. While AMC is waived, users should evaluate brokerage charges and other applicable fees depending on their trading activity. Overall, it is a strong option for those who value analytics and performance-driven trading platforms.
Quick Tips Before You Choose
- Zero AMC ≠ Zero Costs: Even with no AMC, transaction charges, brokerage fees, and statutory costs (like DP charges) still apply. Always read the full fee schedule before signing up.
- Match to Your Style: If you’re a long-term buy-and-hold investor, zero AMC can save thousands over decades. For active traders, consider platforms with competitive brokerage too.
- Customer Support & Tools: AMC savings are great, but ease of use, research tools, and support can make investing easier and more effective.
Conclusion
Zero AMC Demat accounts are becoming increasingly popular in India as investors look for ways to reduce costs and maximise returns. Whether you are a beginner starting your investment journey or an experienced trader seeking lower fixed expenses, there are multiple options available in the market. The key is to choose a platform that aligns with your investment goals, trading frequency, and preferred user experience, not just one that offers free maintenance.
