Did you know that if you have a Demat account, you can refer and earn money? Yes, you read that right. Refer your friends and family to these apps to earn money.
Each app provides a referral bonus in a variety of forms. Some provide direct cash, while others provide gift cards to popular websites. It’s a win-win for both the parties, as the referrer gets to earn rewards, and the referee can make money by investing in the market.
We’ve curated the list of India’s leading stock brokers offering the best refer and earn Demat account.
Best Refer and Earn Demat Account List 2023
| Stock Broker | Referral Bonus | Referral Commission |
| Choice India | Rs.100 | NA |
| IIFL Securities | Rs. 500 Gift Voucher | NA |
| Angel One | Rs. 500 Gift Voucher | NA |
| ICICI Direct | Rs.600 | 35% Revenue Sharing |
| Bajaj Finserv | Rs.450 | |
| Zerodha | 10% Revenue Sharing |
1. Choice India Refer and Earn
Choice India lets you open a Demat account online; the process is easy and seamless. If you want to open your Demat account online, follow these steps:
Choice India takes less than or up to 4 hours for verification.
Once you have registered with Choice India, you can generate your Demat account referral link and share it with your friends. When your friend registers using the referral link, you will register an incentive of Rs 100 for every referral. Visit to know more about Choice’s Demat account refer and earn program.
2. IIFL Securities Refer and Earn
IIFL is one of India’s largest full-service stockbrokers. Its app provides stock and mutual fund investment options. IIFL Securities is a financial services provider of IIFL’s products. They provide flat-rate brokerage service. It charges a flat fee of Rs. 20 per completed order.
IIFL Securities does not charge an account opening fee, but they charge a yearly maintenance fee of Rs.250. They also have an excellent referral programme.
The IIFL Securities is running an intriguing referral programme. You will receive a Rs.500 gift voucher if you refer a friend. However, the referral must first complete their KYC and successfully open a Demat account in India via the IIFL app. On its website, you can view all of your pending and successful referrals. After that, you can use your 500 Amazon gift cards.
3. Angel One Demat Account
Angel One is also one of the best and most popular Demat accounts in India in 2022. It is India’s third-largest stockbroker. They have a large customer base and a variety of interesting features. Angel Broking has its mobile app as well as its own website. They recently launched their mobile app, which is a wise decision.
By referring friends, you can earn a free Rs.500 gift voucher. If a friend signs up using your link, opens a Demat account, and trades on Angel One within 30 days, you will receive a Rs.500 voucher. Your gift vouchers can be redeemed at Amazon, Flipkart, Myntra, or Big Bazaar. The more people you refer to Angel, the more gift vouchers you will receive.
4. ICICI Direct Refer and Earn
If you have an ICICI Bank account, you can easily open a Demat account on ICICI Direct in just a few steps. ICICI Direct is a top brokerage firm and one of the best Demat accounts in India. It also has a large customer base throughout India.
You will receive 600 for each successful referral if you refer a friend. Normally, you will receive 250 when your friend opens an ICICI Direct Demat account and 350 when they make their first transaction. At the same time, you can join the ICICI Direct affiliate program and earn a lifetime revenue share of 35%. To earn 35% revenue, you must fill out a simple form. They will then contact you for additional information.
5. Bajaj Finserv Securities Refer and Earn
Bajaj Finserv’s subsidiary is BFS (Bajaj Financial Securities). It is also one of India’s largest retail assets. Bajaj Finserv Securities offers a free Demat account that you can access from anywhere. Bajaj Finserv’s quick account opening process appeals to me.
BFS is also offering a referral bonus. There is currently no direct refer and earn option available in Bajaj Finserv. However, you can refer friends using One Code. If your friend registers and trades within the first 15 days, you will receive Rs. 450 in your One Code wallet.
6. Zerodha
Zerodha is india’s largest discount broker started operations in 2012. Zerodha charge Rs. 200 for demat account opening and AMC charges on Demat account of Rs. 354 (300 + 18%) GST every year.
Zerodha offers 10% revenue sharing on the brokerage generated by your referrals through your referral link. The one condition to join Zerodha’s referral program you need to open demat account with Zerodha. You can simply open demat account with Zerodha by visiting this link.
What is a Demat Account?
A Demat account allows investors to keep their shares in digital and electronic form. Demat accounts are also known as dematerialized accounts.
The Depository Participants (DP) maintains a Demat account in India. There are two DP’s: NSDL and CDSL. A Demat account allows you to keep all of your stocks and mutual funds in one place. You can view all of your holdings, as well as the daily price difference in one place.
Conditions for Opening a Demat Account:
The most important requirement for opening a Demat account is:
- Aadhaar card and Pan Card linked via mobile number.
- Passbook from a bank (front page)
- White paper signature.
- A passport-sized photograph is required.
Examine all of the information provided before you open a Demat account and go for the one that offers the best service. Once you open a Demat account, you can refer a friend for which you will be rewarded in the form of real money that is sent to your bank account once the person you have referred to also opens a Demat account with them. Here are the list of best Demat Account refer and earn program offers from India’s leading stock broker for you.