Before knowing about the lowest demat account charges, it would be helpful to know more about what is a Demat account. Whenever you take a delivery of stocks, there are 2 types of charges associated with it. One is the brokerage charge which varies among various brokers. To know more about the lowest brokerage charge, you can read out review about the lowest brokerage charge in India.
The other charge is the Demat charges which is what is charged by your Depository Participant. DP are like your digital lockers where your stock are kept in digital format. The charges of DP are not very high and usually varies from Rs 13 ~ Rs 15 per script which is kept in Demat form irrespective of the number of shares. This charge is charged on both side of the trade.
The Demat charges are only applicable when you take delivery of stock. If you trade in stock intraday or trade in F&O there is no Demat charges associated with them. There would still be a brokerage charge associated with these types of trades.
Another charge associated with the Demat is the Annual maintenance charge (AMC) which is associated with keeping the Demat account. This varies among brokers and can vary from Rs 200 ~ Rs 500 per year. This is for keeping the Demat account where your stocks are kept in Dematerialized form. This is a fixed charge irrespective of the number of scripts in your account. This is not to be confused with the trading account annual charges. Most of the brokers have ZERO annual maintenance charge for trading account but some of them do charge for that also.
One more important point to remember is that you can have multiple Demat account in your name. There is no limit on the number of Demat accounts you can have. But as there is an AMC associated with keeping the Brokerage account, it is always better to have less number of Demat account.
If you still want to find the lowest Demat account charges, you can open account with Angel broking. They will open the account from free and AMC could also be waived off but you will have to provide a initial margin check of Rs 25,000 to get this offer.
So all in all Demat charges don’t vary highly among brokers and you should not worry too much about them. What is important to keep in mind is the brokerage charges which your broker is charging you. This varies a lot among various brokers and in the long term, that is something which will decide whether you end up making a profit or a loss.