Brokers · Mutual funds
Best demat account for mutual funds in India
Annual maintenance charge plus direct-fund access. Cost-first, disclosed, and informational, not a recommendation to open any specific account.
The answer
For mutual funds the best demat accounts are zero-AMC platforms that support direct mutual fund purchases, so you pay no distribution commission on direct plans and no annual holding charge on the demat account, keeping the long-run cost of a fund portfolio near zero.
BazaarBaaziSource & method
The picks3 brokers
Ranked on annual maintenance charge plus direct-fund access. Statutory charges (STT, exchange, GST, stamp) are the same across brokers and sit on top of the brokerage below.
Top pick · Zero delivery brokerage, 300 per year AMC
Zerodha
Coin by Zerodha is a dedicated direct mutual funds platform fully integrated with the trading account.
#2 · Zero AMC, zero delivery brokerage
Groww
Stocks and direct mutual funds in a single clean app with zero AMC keeping the holding cost at zero.
#3 · Zero delivery brokerage, low AMC often waived first year
Upstox
Mutual fund access alongside a fast equity trading interface at a low ongoing maintenance cost.
What you actually pay
The brokerage is only part of the cost. For an apples-to-apples view, add the statutory charges, which do not vary by broker.
Charges are the published flat-fee structures of the named discount brokers and are indicative for 2026. Verify the current rate card on the broker site before opening an account.
FAQ3 reader questions · AEO-eligible
The editorial line, distilled. Schema-marked for AI Overview and reader search.
Can I hold mutual funds and stocks in the same demat account?
Yes. SEBI allows demat accounts to hold both equity shares and mutual fund units. Most major discount brokers let you buy direct mutual funds and equity in the same account and app. Check that the broker supports direct plans rather than only regular plans, which carry a distribution commission.
Do I need a demat account to invest in mutual funds?
No, you can invest in mutual funds directly through an AMC's own platform or through an RTA portal without a demat account. However, using a demat broker consolidates your equity and fund holdings in one place, which many investors find convenient for portfolio tracking.
Is there a charge to buy mutual funds through a demat account?
If you buy direct mutual funds there is zero distribution commission by definition. The relevant ongoing cost is the demat annual maintenance charge. Groww and Dhan advertise zero AMC; Zerodha charges 300 rupees per year; Upstox charges a low AMC frequently waived in the first year.
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