Stock Holding Corporation of India offers free demat account services. However there are no charges for the first year only. Charges will have to be paid from next. Annual maintenance charges are incurred. The Stock Holding Corp Demat Trading Page reports this.
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SMC Invest also offers free demat account services. However this is a limited period offer. There are no account opening charges. Both demat and trading account are available. These usually cost around Rs 599. Also there are no first year AMC charges. Usually these cost around Rs.399.
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Bajaj Finserv also offers the facility to open free demat and trading accounts free of charge. There are no account opening and no AMC charges. This brokerage firm is offering two subscription offers. These are the Freedom Pack and the Professional Pack. You can choose any of these. First year subscription is free. Rs 431 from next year.
ICICI Direct also offers a 3 in 1 trading account. There are no account opening charges. There will be no AMC charges for the first year. Rs.700 from the second year. Angel Broking also offers free services. There will be no charges for the first year. But then you have to pay Rs.20 per month plus other charges. Axis Direct is also offering free demat account services in the wake of the LIC IPO.