Best Refer and Earn Demat Account List (2023) India


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If you are looking for Best Refer and Earn demat account list then your search ends here. Know how you can earn upto 1 lakh per month by referring Demat Account.

In this article we are going to know about Refer and Earn Demat Account List that you won’t see anywhere else. You can earn cash and voucher rewards by referring your friends, family and anyone else to this trusted demat account. The demat account we are going to talk about has been well analyzed by our team and we have also used it.

There are two types of depositories (NSDL and CDSL) available in India that provide demat accounts. So it doesn’t matter where you open the demat account because at the end NSDL and CDSL will hold it.

There are many people who want to earn money by referring demat account. Rather, it is a good thing that you also want to meet your own expenses in this world of inflation. And you are reading this article that means you are very serious about earning, That’s why I claim that after reading this article you will get the list of Best Refer And Earn Demat Account List. So read this article till the end because in the end I have told you that If you do not want to open so many demat accounts, then with just one app you can earn a lot by referring many demat accounts.

Comparison of Refer & Earn Demat Account List

Demat Account Referral Reward
Angel One₹300 – ₹1000 per refer
Zerodha300 points per refer + 10% brokerage sharing
Upstox₹100 – ₹1200 per refer
Groww₹100 on account opening + ₹200 on first trade within 30 days
5paisa₹200 for per referral + 12.5% brokerage sharing
Kotak Securities ₹300 + 10% brokerage sharing
Paytm Money₹500 per refer
ICICI Direct Upto ₹800 per refer
mStock₹555 per refer
Yes Securities ₹1000 cash on account opening
Use Referral Links To Get Extra Advantages

For more details about Best Refer and Earn Demat Account List, Watch this video –

Documents required to open demat account

If you create an account on the mentioned demat account or any other demat account, then the documents are required. So there are some important documents which will be asked from you during account opening, these are as follows –

  • Aadhar Number (must linked with mobile number for OTP verification)
  • PAN card
  • Bank Account Details
  • Passport size photo or live photo

These are the only documents required to open a demat account on any platform. But in some cases, other documents are also asked like canceled check image, Voter Card etc. But it is asked to open trading account, which you have to ignore because we can generate referrals by opening demat account also.

How Refer and Earn Program Works

The working method of refer and refer program is very simple. But there are some things that we should keep in mind, they are as follows –

#1. Finding the best Demat Account – Sometimes it happens that we create an account on some platform in which the refer and chronic program is not available at all. So first of all ensure that the platform in which you have created the account offers Refer and Earn Program or you can directly open your account from the Refer & Earn Demat Account List that we have provided you.

#2. Sign up – Now you do not have to do anything, with the help of the documents mentioned above, you have to open a demat account.

#3. Get your unique Refferal link/code – As soon as the account is opened, you can get the referral code and share it everywhere where you think the referral can come from. You can use different social media or you can suggest demat account to your friends and relatives to drive referrals.

#4. Meet Program Referral Criteria – It may include successfully opening Demat Account of referee or in some cases conducting trades within a specified time period. Once you have fulfilled the Referral Criteria, your refferal rewards will be credited to you.

Refer and Earn Demat Account List

#1. Angel One Refer and Earn

Angel One Refer and Earn

Here you can earn up to Rs 1000 per referral. Sometimes this amount is also less because Angel One keeps changing its referral rewards from time to time. These referral rewards can sometimes be cash or sometimes you can get vouchers which you can redeem at Amazon, Flipkart, Myntra etc.

By this you can open account of 20 members every month. But if you want to earn more referral rewards through this then you can join Angel One DRA program, In which you get Rs.300 per account open + 30% brokerage sharing.

It must be kept in mind that the account has been opened with your referral link or referral code, otherwise you will not get the referral rewards.

#2. Zerodha Refer and Earn

Zerodha Refer and Earn

Here you do not get referral money but get 10% brokerage sharing + 300 reward points. You can use these rewards points to subscribe to trading and investing research platforms like Smallcase, Streak, Tradingview.

But you have to refer this app to 5 people to withdraw referral earnings and you can withdraw minimum 1000 rewards points.

To get all this you have to refer with your own referral link only then you will be able to take advantage of rewards points and life time 10% brokerage sharing on referee trades.

#3. Upstox Refer and Earn

Upstox Refer and Earn

Its referral program is ever good and many people are earning very good money from it. Its referral rewards also fluctuate a lot which ranges from Rs. 100 to Rs. 1200.

I am personally using the app and earned maximum Rs 1200 per refer, but currently Upstox is paying Rs 400 as refferal reward. And let me tell you that even in this, the monetary reward you earn will go directly to your registered bank account.

To get the referral benefit, the referee has to open the account within one month from the date the mobile number is registered.

#4. Groww Refer and Earn

Groww Refer and Earn

In this application you can earn Rs 300 per refer, That is, Rs 100 on successfully account opening plus you will get more Rs 200 from the first trade made by referee.

With Groww, you can open a maximum of 1000 accounts every month. Means you can earn maximum 3 lakh rupees from this just by referring. And this referral offer is running since many years so you can refer it without any hesitation.

I have earned lakhs of rupees from Groww Refer and Earn program. If you also want to know how I got started with Groww and I can share its earning report with you, then you can comment. If there is a good response, then I will bring a detailed post for you, in which I will tell my strategies.

#5. 5paisa Refer and Earn

5paisa Refer and Earn

5paisa refer and refer program is also very good. Here you can make unlimited referrals, for which you will get Rs 200 per referral. You will get this referral reward on every refer and you can easily withdraw it in your bank account.

Additionally, you will get brokerage sharing of 12.5% per trade of referee for lifetime. So this is a good opportunity to bring lots of referrals which will keep you earning lifetime as brokerage.

Before opening an account, keep in mind that, You will get refer and earn option only when you place your first trade in 5paisa. That is, you just have to buy and sell a stock that’s it.

#6. Kotak Securities Refer and Earn

Kotak Securities Refer and Earn

Kotak Securities is giving Rs 300 per refer. This is also a trusted demat account provider which is in this field since many years. And the best thing I found is that you can do unlimited referrals here too.

Along with this, you will also get 10% brokerage sharing for 2 years only. And that’s fine, Because it is giving comparatively good amount on account opening, so you can consider it

So you can also try out it, because this can also prove to be one of the best refer and earn Demat Account.

#7. Paytm Money Refer and Earn

Paytm Money Refer and Earn

Now let’s talk about my favorite and most trusted referral program which is Paytm Money. This is my favorite because by using it I have earned a good amount and it gets transferred to bank account within 24 hours.

Currently Paytm Money is giving Rs 500 per refer, In which you will get Rs 300 on first delivery trade and Rs 200 on first F&O trade of referee. So you can try it out too because it is my personal favorite in refer and earn Demat Account list.

#8. ICICI Direct Refer and Earn

ICICI Direct Refer and Earn

ICICI Direct allows you to earn upto Rs 800 per successful referral. The refer and earn program of ICICI Direct keeps changing time to time, so it is difficult to tell that what is the referral amount is ICICi Direct paying for per refer at the time you are reading this article. But normally you will get to see the referral amount within Rs 400 to Rs 800, which is good amount.

You can also get brokerage sharing from ICICI Direct App, but for this you have to join its partners program. After which you will be eligible for Referral Rewards + Brokerage Sharing.

#9. mStock Refer and Earn

mStock Refer and Earn

This is the best trading app because there is no brokerage charge here. mStock no brokerage system is very profitable for those people who do a lot of trading.

You can earn Rs 555 per refer but the condition is that the account opening fee of Rs 999 will have to be paid by the person who is opening the account. After the account is opened, the referee will get the facility of zero brokerage on every trade, which can be very profitable for them.

#10. Yes Securities Refer and Earn

Yes Securities Refer and Earn

Yes Securities is a product of Yes Bank which is providing Demat account. Currently, Yes Securities is paying Rs 1000 per account opening, which will be credited to the referrers account easily.

Many people were suggesting that with the help of this also you can earn a lot of referral income. But I haven’t used it personally, so I can’t tell much about it, but you must try it.

The referral program of Yes Securities is same as the other referral program. In this also you will get a unique referral link, with the help of which you can open this demat account to anyone. And after successful account opening, your referral rewards will be credited to your account.

So, you can try out it ones because it could also prove to be the Best Refer And Earn Demat Account list in this post.

All Demat Account in One Place

Lots of money can be earned by referring demat account. But the problem comes when it becomes difficult to create an account in all the apps. That’s why I have also come up with a solution that you can refer almost many demat accounts by creating an account at one place.

Gromo, This is a platform from where you can earn money by suggesting different financial products likes Credit card, Debit card, Insurance, Demat Account etc, to the people. So you must checkout it, and you can also see the Gromo App Review in our site.


Overall, this are the Apps that offers Best Refer and Earn Demat Account facility. There are also many apps that pay a good amount of referrals, but they are not all that trusted. So you can earn a lot by opening an account on all these demat accounts.

That’s all in this article, i hope you have like to read this article. If you have any doubt in your mind or do you want to ask any questions, then you can ask by commenting below. And yes, Share this article as much as possible.


Who is Referee?

Referee is the person who opens an account from referral links.

Which broker gives highest referral amount?

Yes Securities is giving highest referral amount to the referrers. The referral amount varies from time to time but currently YES Securities is paying Rs.1000 per referral.

Which broker is No 1 in India?

Zerodha is the number 1 broker in India with an active client base of 6,224,309 people.

How to Refer and Earn Rs 1000 from Demat Account?

You can typically try Upstox, ICICi Direct, Yes Securities etc to refer and earn Rs 1000.

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