Dhan currently states that account opening is ₹0 for individuals and HUFs, and that annual maintenance charges are also ₹0 for these account types.

However, “free account opening” does not mean that every activity on the platform is free.

For example, Dhan currently lists zero brokerage for equity delivery, while equity and ETF intraday and MTF trades are charged at ₹20 or 0.03% of trade value per executed order, whichever is lower. Equity and commodity futures and options are listed at ₹20 per executed order.

Other statutory and transaction-related charges may also apply.

What Are Dhan's Trading Charges?

Understanding the pricing structure is important before opening an investment account.

Dhan currently lists:

• ₹0 brokerage for equity delivery
• ₹0 brokerage for ETFs and mutual fund investments under the applicable conditions
• ₹20 or 0.03% per executed order for equity and ETF intraday and MTF
• ₹20 per executed order for equity and commodity futures and options
• ₹0 account-opening charges for individuals and HUFs
• ₹0 AMC for individuals and HUFs

Statutory charges such as STT, GST, stamp duty, SEBI turnover fees and exchange transaction charges can apply depending on the transaction.

Charges can change, so investors should check Dhan's current pricing page before placing trades.

Who Can Use Dhan Referral Code ASAR14?

The referral programme is intended for eligible participants in India. Dhan's official referral terms specifically state that the offer is valid only for Indian residents.

The referral code is particularly relevant to people who:

• Are considering opening a Dhan account
• Want to invest in stocks or ETFs
• Are interested in mutual funds or IPOs
• Want access to online trading tools
• Are comparing account-opening costs between brokers

Eligibility can depend on Dhan's current programme rules.

What Happens When You Use a Referral Code?

Things to Check Before Using ASAR14

Before completing registration, check the following:

Eligibility: Confirm that you qualify for the Dhan account-opening and referral programme.

Correct code: Enter ASAR14 accurately during onboarding.

Account type: Dhan's ₹0 account-opening and AMC pricing applies to eligible individuals and HUFs; other account types can have different charges.

Trading costs: Review brokerage and statutory charges before trading.

Referral mapping: Dhan states that the referral code or link needs to be used correctly during account opening for the referral to be recognised.

Current terms: Dhan reserves the right to modify, suspend or terminate its referral programme, so current terms should always be checked.

Final Thoughts

The Dhan App Referral Code 2026 “ASAR14” is promoted for users looking to open a Dhan account with free account opening. Dhan currently confirms ₹0 account-opening charges for individuals and HUFs, while its official referral programme has separate eligibility and referral-mapping conditions.

If you are opening a Dhan account, enter ASAR14 during the onboarding process and check that the referral information is correctly recognised before completing registration. Also review the latest brokerage, transaction and statutory charges before trading or investing.