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Best Refer and Earn Demat Account

best refer and earn demat account
June 27, 2022

If you want to know the top 10 best demat accounts in India in the year 2022, then you've come to the right place.

The following article may be of interest to you. As part of our blog series, I am going to discuss the top 10 Demat and Trading apps and accounts in India in 2022.

 Please read on to find out how you can get the best Demat account in India.In this day and age, the internet is used by all of us.

People learn relatively few new things by using their smartphones to help them learn at home as a result of the Internet.

One of the things they learn is how to trade or invest online. It was not so easy to invest in the stock market when there were no trading apps to help investors. Today, we are able to invest in the stock market with less effort and more time.

From the comfort of our homes, we can analyze and make purchases of stocks for different companies. Demat accounts in India help us to invest in mutual funds and IPOs, which is a good option for investors who want to invest in mutual funds.

What is a demat account?

All of us are familiar with the concept of having a savings account at the bank. Using a bank account makes it easy to access our funds while at the same time providing security against theft and misuse.

The same is true for investors with Demat accounts. These days, Demat accounts are a requirement for investing in stocks. Essentially, a Demat account refer and earn is an account where shares and securities are held electronically so they can be easily accessed by investors.

This type of account is known as a dematerialised account, which is what it is called in its full form. It is important to note that opening a Demat account allows you to hold shares

That have been bought or dematerialised (reduced from physical to electronic form), making share trading and hedging easier for the customers for trading online.

Documents required to open demat account

Whether you decide to open a Demat account online or through a broker, you need to upload some documents. It is necessary to upload your Aadhar card, your Voter ID card, your Driver's license, etc. for the purpose of proof of address.

In the case of income and bank proofs, you might need to upload a canceled cheque, bank statement, a photo of the first page of the bank statement, a PAN card or a Form 16.

If you have your ITR acknowledgment or Demat account details on hand, you can provide them as well. In addition to these, you are required to upload a picture or video clip which lasts for five seconds, along with your Aadhar number or e-signature.

All these documents are required in order to get a Demat account. To open a Demat account, you need to meet these requirements.

  • Pan card
  • Aadhar card
  • Bank passbook
  • Signature on white paper
  • Passport size photo.

Don't Miss 10 Best Refer and Earn Demat Account List (Updated 2022) 

1. Paytm Money Demat Account

This is a new way to invest online that has recently been introduced to the market. It is the subsidiary brand of Paytm,

Which is a payment system that has received approval from the Reserve Bank of India.

Users can invest their money into Paytm Money Stocks, Mutual Funds, IPOs, NPSs, Futures & Options, etc.

We are a stockbroker and an investment advisor registered with SEBI. Besides that, they are also partners with CDSL, NSE and BSE.

It is a popular mobile money app which offers many interesting features such as free equity delivery, minimal AMC charges, free opening of Demat accounts, and free mutual fund options.

The Paytm Money is one of the safest and most secure payment options with low-cost investment options and a strong customer base across the country.

Paytm Money Demat Account has both the official mobile application and the official website. You can open a Demat account on this website or through its mobile app for investors and start investing online.

Initially it was intended to be an option for direct mutual funds, but later they added IPO, Stocks, Mutual Funds, Foreign Exchange, and NPS options.

Refer and Earn (Paytm Money)

There is no direct referral offer run by Paytm Money. There are plans to run one in the near future. Eventually, you will be able to refer friends to the Paytm Money app

And you will receive amazing gift vouchers or you will be able to earn free Paytm cash or real money directly in your bank account.

At present, there is an option for you to use OneCode APK in order to earn money by referring a friend. You will earn a referral reward of Rs 300 when you refer a friend to OneCode.

The money will be deposited into your account within 7 days after your friend opens an account with us. Your earnings will be credited directly into your Paytm bank account or any other bank account you choose through the OneCode App.

Features

  • Key features: 0% commission, online IPO, 24 hrs KYC
  • RBI approved: Yes
  • Mobile app available: Yes Google Play, ios
  • Account opening fee: Zero

2. Upstox Demat and Trading Account

Amongst all investment applications I have used, Upstox by far is one of the best refer and earn trading account.

This is probably due to its user-friendly interface and efficient processing system.

If you are new to the market and would like opening a Demat account, then I believe Upstox would be a great choice for you.

Without a doubt, this is one of the best Demat accounts in India in 2022

It has low-investment options and a lot of interesting new features that make it a good stock brokerage company that is based in Mumbai, India.

Mutual funds are one of the investment options, stocks are another, and digital gold is the last option. However, they have recently taken the option of gold off the app.

The commission on mutual funds and IPOs is zero with Upstox, but for intraday trading, you have to pay a flat rate of Rs 20 which can be reduced to 0.05% if you like.

The paperless account opening feature allows users to open an account in a matter of seconds with no need to fill out any paperwork.

Refer and Earn (Upstox)

As part of Upstox's marketing campaign, they are offering a Rs 600 refer-and-earn incentive. If you invite a friend to open a Demat account through your Upstox referral code and that friend opens a Demat account

Through your referral code you are eligible to receive Rs 300 into your wallet. You will receive an additional Rs 300 in your wallet within a few days after your first investment.

Upstox comes with a refer and earn offer, which is yet another reason why customers consider Upstox's Demat account as the best in India for Demat accounts.

I would like to reiterate that if you have traded at least once on Upstox, then you are entitled to withdraw your referral balance to your bank account.

Features

  • Key features: Demat account is free, Rs 20 per trade and 0.05% charges on intraday
  • RBI approved: Yes
  • Mobile app available: Yes Google Play, ios
  • Account opening fee: Zero

3. Groww Demat Account

best app for mutual fund

This application is one of the oldest investment applications I have ever seen, to my knowledge. With regard to the ease of use and ease of understanding,

I feel GrowW is one of the best Demat accounts in India in the year 2022. Groww is easy to use from day one for anyone with some basic idea

And who has some basic knowledge of how to use it. The Groww app allows us to invest in stocks and mutual funds using our money. 

You can access it either from the Explore tab or the Dashboard tab.

In the Explore tab of the report, we can see the top performers and the top losers. There are also options of searching stocks based on the criteria we choose.

Furthermore, if we choose to view our holdings and available stocks from the dashboard tab, we can access the information we wish to see.

There is a referral offer included with the Groww app as well. However, the amount varies from person to person. The cashback will be obtained from the referral of a friend, which will vary from a cashback of $100 to a cashback of $300.

Users who have invested their money into Groww app are only eligible to take advantage of the offer. As a result, referral rewards and stock sales proceeds can be withdrawn into your bank account.

Please allow a few days for the procedure to complete. The company charges Rs 20 or 0.05% for each transaction.

Refer and Earn (Groww)

There are 100 to 10,000 rupees worth of scratch cards in the Groww app. Investing in mutual funds with a minimum investment of 2000 or above is the first thing your friend should do.

There is no referral code available for them. The referral link has to be used to sign up.

Features

  • Key features: Brokerage fee is zero on mutual fund, Free account opening
  • RBI approved: Yes
  • Mobile app available: Yes Google Play, ios
  • Account opening fee: Zero

4. Zerodha Demat Account

As a result of the availability of the Zerodha app, you have the option of investing in the Kite as well.

Per order, the company charges a flat fee of Rs 20 or 0.03% (whichever is lower). In fact,

It comes to me after using Zerodha that it is the best Demat account for beginners in India. Their product line includes three different mobile apps,

Including Zerodha Varsity, Zerodha Kite, and Zerodha Coin.

Each of these apps provides a variety of features including stock market learning, trading, mutual funds, and fund management. India has one of the cheapest methods of investing in the world.

In India, there are 120+ branches of this company located in more than 70+ cities. The Zerodha app is currently used by more than 22 lakh people. Zerodha is a member of several industry associations including BSE, CDSL, and NSE.

Refer and Earn (Zerodha)

As well as being one of the best Demat accounts in India, Zerodha also runs a referral program for all its customers. You have a great chance to earn money if you have some good friends

Who are planning to invest in stocks, mutual funds, or any other type of investment. Refer your friends to our services and we will reward you with 300 reward points and a 10% brokerage fee for a lifetime.

These brokerage fees can be withdrawn from your bank account at any time for any reason. Also, you will be able to redeem your points to gain access to various platforms and tools within the Zerodha Universe.

There is a minimum redemption amount of 1000 and you need to refer at least 5 friends before withdrawing. Referral codes are not available for them to apply to their accounts. To sign up with the referral link you must use the referral code.

In addition, they charge a small fee for opening an account.

Features

  • Key features: Equity is brokerage free, account opening in paid
  • RBI approved: Yes
  • Mobile app available: Yes Google Play, ios
  • Account opening fee: Rs 200

5. IIFL Securities Demat Account

It is one of the largest full-service brokerage firms in India and is among the largest brokers in the world.

The app offers investment options such as stocks and mutual funds. In addition to offering securities as a product, IIFL Securities is a financial services company.

Among the services they provide is a flat rate brokerage plan. For each order executed, they charge a flat rate of *20.

They do not charge a fee to open account with IIFL Securities, 

But they charge a Rs 250 maintenance fee every year. IIFL Securities also offers a wonderful referral program.

Refer and Earn (IIFL Securities Demat Account)

An intriguing referral offer is being run by IIFL Securities. You can earn a *500 gift voucher in the form of a referral if you refer a friend. In order to take advantage of this, the referral needs to submit their KYC documents

And open their Demat account in India using the IIFL App. This website allows you to check the status of all of your referrals, both pending and successful. If your referral is successful, the Rs 500 Amazon voucher can be redeemed.

Features

  • Key Features: Free demat account, equity is brokerage free, Offers trading for NRI, Charges of Rs 250 for maintenance of Demat accounts and You will be charged a commission of Rs 20 per executed order and for all intraday and F&O trades.
  • RBI approved: Yes
  • Mobile app available: Yes Google Play, ios
  • Account opening fee: Zero

6. Angel One Demat Account

Demat accounts of Angel One are also amongst the most popular and best Demat accounts in India in the year 2022.

They are the third biggest stock brokerage in India, according to their website. Their customer base is very large and they are equipped with a lot of interesting features.

 There is a mobile app and a website built by Angel Broking. The company has recently released its own mobile app, and I think this is a great move on their part.

Having said that, it is my personal opinion that Angel One is the top Demat account

For intraday trading, although that is just my personal opinion. As a full-service broker, Angel One is a member of CDSL and provides it's clients with a wide range of investment options

Such as Equities, Futures, Options, Commodities, Currencies, Stocks, Mutual Funds etc.

Refer and Earn (Angel One Demat Account)

Whenever you refer a friend, you will receive a free Rs 500 gift voucher. As a reward, if your friend opens a Demat account via your link and trades on Angel One in the next 30 days, then you will receive a Rs 500 voucher.

Gift vouchers can be redeemed on Amazon, Flipkart, Myntra, etc enabling you to purchase products. It is worth mentioning that you will earn more gift vouchers the more people you refer.

  • The first and foremost thing that you need to do is open the referral page of Angel One.
  • There you will be able to enter your client id and generate a link.
  • Share your invite link with your friends after entering your client id.
  • You will receive Rs 500 gift vouchers as soon as your friend joins and trades.

Features

  • Key Features: Free demat account, Free investment advisory, Account maintenance charges Rs 240, Brokerage fee is low
  • RBI approved: Yes
  • Mobile app available: Yes Google Play, ios
  • Account opening fee: Zero

7. ICICI Direct Demat Account

With ICICI Direct, you can easily open a Demat account for your Demat securities within a few simple steps if you are an ICICI Bank customer.

As one of the leading brokerage companies in India and one of the best Demat accounts in India, ICICI Direct is one of the best.

They are also one of the largest in the country in terms of customers. Stock loans are available to users who own stocks. 

There are many advantages of having an ICICI Direct Demat account.

This is one of the best benefits. It will not be available from any other source that provides Demat accounts. Trading intraday and F&Os is charged at a flat Rs 20 per transaction.

From the second year onwards, you will have to pay an annual maintenance fee of Rs 300.

Refer and Earn (ICICI Direct Demat Account)

You can earn Rs 600 for each successful referral you make of a friend if you refer them to us. You will be given 250 rupees every time your friends open an ICICI Direct Demat account and 350 rupees every time your friend makes a transaction.

ICICI Direct affiliate program is also a great way to earn a great deal of money and can earn you 35% commission for a lifetime. All you have to do is fill out a basic form to earn 35% commission. If you are interested in learning more, you will be contacted by them.

Features

  • Key Features: Facility available for loan against stock, account maintenance fee of Rs 300 from second year
  • RBI approved: Yes
  • Mobile app available: Yes Google Play, ios
  • Account opening fee: Zero

8. 5Paisa Demat Account

In India, this broker is not as popular as Upstox, Groww, Zerodha or any other leading stock brokerage service. However, this broker does provide some good features.

With the help of 5Paisa, it is possible to open a free Demat account without any fees. The app is available on both Android and iOS devices.

Users are charged a fee of Rs 20 for each order they execute. The annual 5Paisa maintenance fee requires a payment of Rs 540 per user.

Refer and Earn (5Paisa Demat Account)

There are many companies providing refer and earn offers in India, but this is one of the best. The refer and earn system offered by 5Paisa is very attractive. For every referral you make, you will earn up to Rs 750 and 40% of the revenue generated.

You will also receive a free Demat account for the person whom you recommend as well as benefits worth Rs. 2100. There is a Rs.225 worth of Nifty bees offered by 5paisa as well as a 12.5% lifetime brokerage share.

The number of friends you can refer is unlimited. "MANJ1483" is the referral (or) promo code for the 5paisa mobile application

Features

  • Key Features: Free demat account, Annual account maintenance fees is Rs 540, Customer are charged Rs 20 for each executed order
  • RBI approved: Yes
  • Mobile app available: Yes Google Play, ios
  • Account opening fee: Zero

9. Bajaj Finserv Securities Demat Account

It is a subsidiary of Bajaj Finserv, and the company is known as Bajaj Financial Securities (BFS).

BFS has the reputation of being one of India's largest retail asset companies. Bajaj Finserv Securities offers you the option of opening a free Demat account

That you can access from anywhere and use whenever you like. One of the things I like about Bajaj Finserv is the quick processing of opening a new account.

Bajaj Finserv is also bringing a referral program to its customers. 

The Bajaj Finserv application does not currently offer a direct refer and earn option. Nevertheless, you can choose to refer friends through the OneCode program.

Your OneCode wallet will receive Rs 450 if your friend signs up and trades within the first 15 days after signing up.

Refer and Earn (Bajaj Finserv Securities Demat Account)

There will be a referral program for customers of Bajaj Finserv in the future as well. There is no direct refer and earn option available on the Bajaj Finserv application at this time.

Nevertheless, through the OneCode Program, you can choose to refer your friends to the Bajaj Finserv application. If you sign up and trade within the first 15 days of signing up, your OneCode wallet will receive Rs 450 as a referral bonus.

Features

  • Key Features: Free account opening, anywhere accessibility
  • RBI approved: Yes
  • Mobile app available: Yes Google Play, ios
  • Account opening fee: Zero

10. Motilal Oswal Demat Account

In addition to the popular Demat accounts such as Upstox, Zerodha or Groww, there is Motilal Oswal, which has also become quite popular in the country.

The beginnings of Motilal Oswal can be traced back to 1987. This company accounts for more than ten lakh users in India and is a provider of a variety of financial products.

Motilal Oswal provides a free Demat account, meaning you can open an account for free. 

The brokerage charged for intraday is 0.05% and for delivery it is 0.50 percent.

There will be an annual maintenance charge of Rs 899 by Motilal Oswal. Account maintenance charges can also be avoided by paying Rs 2500 once in lieu of having to pay it every year.

Refer and Earn (Motilal Oswal Demat Account)

Refer a friend to Motilal Oswal and you will receive an Amazon voucher worth Rs. 1000 if they open a trading account with Motilal Oswal. Upon referring a new customer, the referrer receives a reward of Rs.1000 digital gold!

Features

  • Key Features: Account opening is free, one time pay for Rs 2500 instead of paying account maintainence charges every year 
  • RBI approved: Yes
  • Mobile app available: Yes Google Play, ios
  • Account opening fee: Zero

Conclusion

Since the early days of the stock market, it has been necessary for investors to have demat accounts. Since the whole process of buying and selling shares is essentially based on electronic means these days,

They're very important for the entire process to run smoothly. However, despite the fact that demat accounts are very important to traders, many of them still are not familiar with their different benefits.

It is important to note that though this list includes some of the most critical features of a demat account, these accounts still come with a number of other benefits.

It is particularly important to have a demat account because it has some additional features, such as the possibility of freezing and briefly transferring shares in odd lots.

A significant role played by demat accounts in simplifying the complicated process of buying shares of equity has been instrumental in contributing to the capital market's increased success.

Frequently Asked Question

Q1. Which trading app gives highest refer and earn?

Upstox app gives highest refer and earn. As part of Upstox's marketing campaign, they are offering a Rs 600 refer-and-earn incentive. If you invite a friend to open a Demat account through your Upstox referral code

And that friend opens a Demat account through your referral code you are eligible to receive Rs 300 into your wallet. You will receive an additional Rs 300 in your wallet within a few days after your first investment.

Upstox comes with a refer and earn offer, which is yet another reason why customers consider Upstox's Demat account as the best in India for Demat accounts.

Q2. Can I earn by referring Zerodha?

As well as being one of the best Demat accounts in India, Zerodha also runs a referral program for all its customers. You have a great chance to earn money if you have some good friends who are planning to invest in stocks,

Mutual funds, or any other type of investment. Refer your friends to our services and we will reward you with 300 reward points and a 10% brokerage fee for a lifetime.

These brokerage fees can be withdrawn from your bank account at any time for any reason. Also, you will be able to redeem your points to gain access to various platforms and tools within the Zerodha Universe.

Q3. How can I make money by Refer and Earn?

It is worth mentioning here that in India, there are many UPI money transfer apps, shopping apps, and fantasy cricket apps that are available which come with great referral offers.

The Refer and Earn Apps in India will be very helpful to you if you are looking to earn some passive income. According to my perspective, money transfer apps and fantasy cricket apps are great for earning money in the bank.

It is true that online shopping apps, deposit accounts like Upstox, Groww, Zerodha, are also running some good referral promotions. Likewise affiliate marketing apps such as EarnKaro, CueLinks, etc. have great referral bonuses as well.

Whenever you refer a friend to your site, you will earn a commission if they purchase something from your link. It is for this reason that I believe that the money transfer apps and the fantasy apps are very effective in earning instant money.

In addition to that, if you want to earn money for a long period of time, affiliate marketing apps will be very helpful to you.

Here are my picks for best refer and earn demat account:

Also Read: Check out my reviews of the best image editing software, the top choices for video editing software, and my full guide to start a blog for beginners.

Ankur Aggarwal

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About the Author

Hi all, I am Ankur Aggarwal – Digital Marketer, Entrepreneur, Traveller, Blogger, and Foodie. Have been blogging since 2010. In 2016 I scored 99.2 percentile in XAT Exam for MBA, left that to pursue my Online business dreams.
The purpose of ankuraggarwal.in is to pass on 100% accurate, genuine and FREE information on Personal Finance, Entrepreneurship, Investing, Career, and Learning Digital Marketing Online. Know more about me here: About Ankur Aggarwal

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