If you want to know the top 10 best refer and earn Demat accounts in India, then you have come to the right place. The following articles may be of interest to you. As a part of our blog series, I will discuss the Top 10 Demat & Trading Apps & Accounts in India in 2022. People learn relatively few new things from the internet using smartphones to help them learn at home.
One of the things they learn is how to do business or investment online. Investing in the stock market was not easy when there were no trading apps to help investors. Today we can invest in the stock market with less effort and more time. From the comfort of our homes, we can analyze and buy stocks of various companies. Demat accounts in India help us invest in mutual funds and IPOs, which is a good option for investors who want to invest in mutual funds.
In the same way, banks save your cash, and Demat accounts digitally store your stock market investments. One can only directly invest in equity by using a Demat account. India has only two account providers: Central Depository Services Limited (CDSL) and National Securities Depository Limited (NSDL). No matter where you open the Demat account, only CDSL or NSDL will hold it.
What Is A Demat Account?
We all are familiar with the concept of having a savings account in a bank. Using a bank account gives us easy access to our funds and protection against theft and misuse. The same is true for investors with a Demat account. In today’s time, investing in shares requires a Demat account. A Demat account is where shares and securities store, so investors can easily access them. This type of account is a dematerialized account in its complete form
Documents required for opening a Demat account
These are the primary documents required to open a Demat account with any stockbroker; You must easily open a Demat account online with these essential documents.
- pan card
- The mobile number linked with the Aadhaar card (required for online account opening)
- Front page of the bank statement or bank passbook
- the white paper signature or electronic signature
- A passport-size photo or, in some cases, a live photo
Best Refer and Earn Demat Accounts
Here is the list of the top 10 account providers in India who are running refer and earn facilities. You can signup for their Demat account, implement this feature from their dashboard and promote their Demat accounts to earn extra money.
1. Paytm Money
Paytm is the parent company of Paytm Money, an Indian payment system that has received RBI approval. Users can invest in Paytm Money Stocks, Mutual Funds, IPO, NPS, F&O, and other options. It is an Investment Advisor and Stock Broker registered with SEBI. Additionally, they associate with CDSL, NSE, and BSE.
There are many exciting features available with Paytm Money, including free equity delivery, minimal AMC charges, free Demat account opening, and free mutual fund options. With a large user base across India, Paytm Money is a reliable and safe option offering affordable investment. Includes the official website and mobile app.
Investors can open a Demat account on its website or mobile app and start investing online. IPO, Stock, Mutual Fund, F&O, and NPS options were added to the original Direct Mutual Fund option.
Features of Paytm Money
- Direct Mutual Fund option with no commission.
- Many investment options are available, including NPS, IPO, F&O, Stocks, Mutual Funds, etc.
- Free account opening.
- ₹300 AMC (Annual Maintenance Charges).
- Delivery of equity without brokerage.
- The website and mobile app are accessible.
- It supports a fully digital KYC process and 100% paperless account opening.
- KYC gets over in 24 hours.
- You can set up price alerts and create individual watchlists to track price changes of up to 50 shares in real-time.
Paytm Money does not offer a direct referral program. While they progress, you will eventually be able to refer a friend within the Paytm Money app and receive fantastic gift vouchers, free Paytm cash, or real Money in a bank account as payment.
You can use the One code app to earn money by referring friends. For every new referral, they are providing 300 rewards. Seven days after their successful account opening, you will get your Money. You can easily withdraw your earnings through the One code app to your Paytm Bank account or any other bank account.
2. Upstox Demat
So far, Upstox is one of the best investment apps I have used. Its processing system and user interface attract me. Upstox is the best option if you are new and want to register a Demat account. It is undoubtedly the top Demat account in India for 2022. Mumbai-based Upstox is a stock brokerage firm that offers low investment options and various innovative new services. Three investment options are available to them: equity, mutual funds, and digital gold.
However, they suddenly removed the Gold option from the app. On mutual funds and IPOs, Upstox does not charge any fees, but for intraday trading, you will need to pay a flat rate of $20 or 0.05 percent (whichever is lower). It is a fast, reliable, simple trading platform with a paperless account opening.
Key Features of Upstox
- Includes a free Demat account option.
- The flat intraday fee of $20 per trade or 0.05 percent.
- On the same day, only 80% of the sale amount of the Demat holdings will be available for trading. At the same time, the remaining 20% of trading will be for the next day.
- Upstox offers a $400 referral bonus.
Refer and earn
Upstox offers a 600% referral bonus. If you refer a friend and they register a Demat account using your Upstox referral code, you will receive ₹300 in your wallet. You will get an additional 300 in your wallet after your initial investment. This supports the notion that Upstox is India’s most extensive refer-and-earn Demat account.
- Begin by launching the Upstox app.
- On three lines, tap.
- Then select “Refer & Earn” from the menu.
- Share your referral link by SMS or WhatsApp.
- You can see your referrals on the ‘Your Earnings & Referrals’ tab.
One of the oldest investing apps I have ever seen, if not the oldest. Groww is the best Demat account in India in 2022 regarding user interface and ease of understanding. It’s easy for any typical user to grow with a basic understanding from day one. On the Groww app, we can invest our money in stocks and mutual funds. Explore, and Dashboard are two tabs. In the Explore tab, we can see the top winners and losers. Additionally, we can search for equities based on our preferences.
On the other hand, we can view our holdings and accessible stocks from the Dashboard tab. There is also a referral bonus in the Groww app. From user to user, it varies. If you refer a friend, you will get cashback between ₹100 and ₹300 in your Groww wallet. Only users who invest money in the Groww app are eligible for this offer. Your bank account will receive your referral bonus and stock sale proceeds. It will require some time. They demand 20 cents, or 0.05 percent, for each fee executed.
Grow App Features
- Mutual Fund option without brokerage.
- Paperless online Demat account opening.
- The charges for intraday and delivery of shares are 20 or 0.05 percent.
- There is no opening account charge or Demat AMC cost.
Promote and earn
- Get started by downloading the Groww app.
- Sign up and create an account.
- Stock Test (Pre-₹100).
- Now click on the profile icon.
- Click on the “Share & Earn Rewards” tab.
- You will get Rs 100 after opening your Demat account.
IIFL is one of the largest full-service stock dealers in India. Its app provides options for investing in stocks and mutual funds. One of the financial services offerings of IIFL is IIFL Securities. They offer brokerage plans with a fixed rate. Per the order completed, a fixed fee of ₹20. While there is no account opening fee with IIFL Securities, there is an annual maintenance fee of ₹250. They also have a great referral program.
Essential Elements of IIFL Securities
- Online Demat account opening is free of cost.
- The Demat account maintenance fee is 250.
- $20 for each executed order or intraday and F&O.
- Delivery of equity without brokerage.
- NRI trading is also available.
IIFL Securities earned by Referral
IIFL Securities offers an exciting referral program. By referring a friend, you can get a gift certificate worth $500. However, the Referral must have successfully opened their Demat Account in India using the IIFL App and completed their KYC for this to happen. Then you can use your 500 Amazon gift cards.
You can also invest money in Kite using the Zerodha app. Per order, there is a fixed fee of Rs 20 or 0.03 percent (whichever is less). It is one of the best Demat accounts in India for beginners after Upstox. They offer three smartphone applications: Zerodha Kite, Zerodha Varsity, and Zerodha Coin. These three apps teach users about trading, mutual funds, and the stock market in this sequence. In India, it is a low-cost investment option. They have more than 120 branches in 70 Indian cities. Currently, more than 22 lakh users use the Zerodha app. Zerodha is a participant in CDSL, NSE, and BSE.
Kye Zerodha Features
- Delivery of equity without brokerage.
- Flat charges for intraday and F&O of 20 or 0.03 percent.
- ₹200 (Initiation fee for the offline account is ₹400).
- ₹300 annual maintenance fee.
- The sell-side equity sales fee is 0.0025 percent.
Zerodha Referral & Benefits
If some of your friends are serious about investing their money in mutual funds and equities, then you can make money. You can get 300 reward points and a 10% brokerage fee for a lifetime by referring friends. This 10% brokerage fee is easy to transfer to your bank account.
Angel One will be one of India’s most popular and excellent Demat Accounts in 2022. They come with lots of exciting features and a vast customer base. Angel Broking has a dedicated website and mobile app. They recently released their mobile app, which was a smart move. Although this is my point of view, Angel One is the most extensive data account for intraday trading. Full-service broker Angel One offers investment options across Equity, F&O, Commodities, Currencies, Stocks, and Mutual Funds. Angel One is the Depository Partner of CDSL.
Features of Angel One
- Demat account opening is free.
- The account maintenance fee is equal to 240.
- Call and trade charges of ₹20.
- 0.25% Equity, F&O trading, and commodity brokerage.
- Low brokerage costs offer with full-service brokerage services.
- It provides free investment advice and research tools to clients.
Refer Angel One and earn money
By referring friends, you can get a gift voucher worth ₹500. If your friend uses your link to sign up, activate their Demat account, and trade on Angel One within 30 days, you will receive a ₹500 coupon. Your gift card can use on Amazon, Flipkart, Myntra, or Big Bazaar. The more people you refer, the more gift certificates you will earn.
If you have an ICICI Bank account, you can open a Demat account on ICICI Direct quickly and easily. One of the leading brokerage firms in India and one of the best Demat Accounts in ICICI Direct. Additionally, it has a vast consumer base across India. Loans against shares are available to the users. It is the best feature of the ICICI Direct Demat Account. Other Demat account providers do not offer these facilities. For F&O trading and intraday, there is a flat fee of ₹20. You will have to pay an annual maintenance cost of ₹300 from the second year onwards.
Refer & Earn with ICICI Direct
You will get 600 for every successful referral if you refer a friend. Usually, when your friend sets up an ICICI Direct Demat account and does his first transaction, you will receive a bonus of 250 and a bonus of 350. You can also sign up for the ICICI Direct Affiliate Program at the same time and earn 35% revenue sharing for life. To get 35% money, you have to fill out a simple form. They will then contact you for more details.
This stock brokerage is less famous than Upstox, Groww, Zerodha, or any other top provider in India. However, it also provides several useful functions. At 5Paisa, you can start a Demat account for free. It has a dedicated mobile app.
They bill ₹20 for each order fulfilled. The annual maintenance charge is 540 for five paise.
Refer & Earn with 5Paisa Demat Account
It offers some of the top refer and earn offers in India. 5Paisa is a great referral program. You can get up to 750 for each referral and 40% income share. Your referral will also get a free Demat account and a bonus of Rs.2100.
One of the subsidiaries of Bajaj Finserv is BFS (Bajaj Financial Securities). Additionally, it ranks among the most significant retail properties in India. With Bajaj Finserv Securities, you can open a free Demat account and access it from anywhere. I appreciate Bajaj Finserv’s quick account opening process.
BFS is also bringing a referral incentive. Bajaj Finserv currently does not provide the option to refer and earn directly. But you can use One code to refer friends. If your friend signs up and trades during the first 15 days, you will receive ₹450 in your OneCode wallet.
Besides Upstox, Groww, or Zerodha, Motilal Oswal is another famous Demat account in India. Motilal Oswal is establish in 1987. It provides various financial services in India and has more than 1 million customers. You can open a free Demat account with Motilal Oswal. It charges a brokerage of 0.05 percent for intraday trading and 0.5 percent for delivery. Motilal Oswal will levy an annual maintenance fee of Rs 899.
Motilal Oswal App, you will get benefits:
- On registration, the cashback is up to Rs. 1000.
- the user for opening the Demat and trading account.
- If a friend creates an account using your referral code, the referrer will receive Rs.1000 in Digital Gold.
- One rupee. 1000 Amazon Gift Cards for every referral.
- Free AMC Charges.
- Even more advantages.
Also read: Easy Ways to Make Money Online
It has become necessary for investors to have a Demat account since the very early days of the stock market. Since the entire process of buying and selling shares is essentially based on electronic means these days, They are essential to make the whole process run smoothly. However, although Demat accounts are significant for traders, many still need to become familiar with their various benefits.
It is important to note that though this list covers some of the essential features of a Demat account, these accounts come with many other benefits. Having a Demat account is especially important as it has some additional features, such as the possibility to freeze and briefly transfer shares in odd lots.
An important role played by Demat accounts in simplifying the complex process of buying equity shares has contributed to the increased success of capital markets.
However, these Demat account referral plans help you earn higher rate-earning incentives.
Can I earn by referring to Zerodha?
Along with being one of the best Demat accounts in India, Zerodha also runs a referral program for all its customers. If you have good friends who are planning to invest in stocks, you have a good chance of earning money. 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 charges can be withdrawn from your bank account at any time for any reason. In addition, you will be able to redeem your points to gain access to various platforms and tools within the Zerodha Universe.
How can I make money from referrals and earnings?
In India, many UPI money transfer apps, shopping apps, and fantasy cricket apps are available that come with great referral offers.
If you want to earn passive income, then the Refer & Earn app in India will benefit you. Money transfer and fantasy cricket apps are best for making money in the bank. Indeed, online shopping apps, and deposit accounts like Upstox, Grow, and Zerodha is also running some good referral promotions. Similarly, affiliate marketing apps like Earnkaro, links, etc., also have an excellent referral bonus. You’ll get a commission if you refer a friend to your site if they buy something from your link. It is why money transfers and fantasy apps are very effective in earning instant money. Also, if you want to earn money in the long run, then affiliate marketing apps will help you immensely.
Here are my picks for best reference and earning Demat account:
Which trading app gives the highest refer and earn?
Upstox app gives the highest references and earns. As part of Upstox’s marketing campaign, they offer a reference and earning incentive of Rs.600. If you invite a friend to open a Demat account through your Upstox referral code. If that friend opens a Demat account through your referral code, you can get Rs.300 in your wallet. You will receive an additional Rs 300 in your wallet within a few days of your first investment. Upstox comes with a Refer and Earn offer, which is another reason customers consider Upstox Demat Account the best in India for Demat Accounts.