Charges on WebNotes

Account opening charges at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha charges a one-time account opening fee of Rs 200 for the equity and derivatives trading account bundled with a CDSL demat account. An additional Rs 100 is charged for adding a commodity trading account (for MCX trading). NRI account opening carries a higher fee of Rs 500, reflecting the additional compliance and documentation requirements. There are no annual renewal charges for the trading account itself; the separate annual maintenance charge (AMC) of Rs 300 plus GST applies to the CDSL demat account from the second year onward.

Annual Maintenance Charge (AMC) at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha charges an Annual Maintenance Charge (AMC) of Rs 300 plus 18 percent GST (total Rs 354) per year for maintenance of the CDSL demat account linked to each trading account. The AMC covers the cost of account upkeep, record maintenance, and the services provided by Zerodha as a depository participant (DP) registered with CDSL. It is a recurring annual charge that is debited from the client’s trading ledger balance on a yearly cycle.

Call and Trade charges at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha offers a Call and Trade service that allows clients to place orders over the phone by calling the Zerodha trading desk. An additional charge of Rs 50 per executed order is levied for this service, over and above the normal brokerage applicable to the segment (zero for delivery, Rs 20 flat for intraday and F&O). The Rs 50 charge applies to each individual order that is executed through the Call and Trade channel.

CMR and CML physical request charges at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

The Client Master Report (CMR) and the Client Master List (CML) are official documents issued by the depository (CDSL) through the depository participant (Zerodha) that contain the client’s demat account details. These documents include the client’s name, address, demat account number, PAN, bank account details, and other KYC information registered with CDSL.

At Zerodha, the digital (electronic) version of the CMR is available free of charge and can be downloaded at any time from the Zerodha Console back-office platform or the CDSL website. Physical copies of the CMR requested through Zerodha carry a processing charge of Rs 20 plus courier charges, plus 18 percent GST on the Rs 20 processing fee.

Corporate action order charges at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

Corporate actions are events initiated by a listed company that affect its outstanding securities. When a corporate action requires or allows shareholders to submit orders (such as subscribing to a rights issue, tendering shares in a buyback, or applying for an Offer for Sale), the broker may place these orders on the client’s behalf. At Zerodha, corporate action orders placed through the broker’s platform carry a charge of Rs 20 per order plus 18 percent GST (total Rs 23.60 per order).

DDPI one-time charge at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

The Demat Debit and Pledge Instruction (DDPI) is a limited power of attorney introduced by SEBI in 2022 to replace the broader Power of Attorney (POA) that was previously used by depository participants to authorise debits from client demat accounts for exchange settlement. At Zerodha, activating the DDPI is a one-time optional process that carries a charge of Rs 75 plus 18 percent GST, totalling Rs 88.50.

The DDPI grants Zerodha, as the depository participant, specific and limited authority to debit the client’s CDSL demat account for the purpose of: (a) settling equity delivery sell transactions executed on stock exchanges, (b) settling pledge instructions for collateral margin. The DDPI cannot be used by Zerodha for any purpose beyond these specific authorities, unlike the older POA which could be broadly drafted.

Delayed payment interest at Zerodha (18% per annum)

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha charges interest at 18 percent per annum on any debit balance (negative balance) in a client’s trading ledger. A debit balance arises when the client owes money to Zerodha – typically when a trade creates an obligation that exceeds the funds available in the account, when charges are debited and the ledger balance is insufficient, or when MTF interest or other fees accumulate without being settled.

The 18 percent per annum rate translates to 0.0493 percent per day. Interest is calculated daily on the outstanding debit balance and is debited to the client’s ledger periodically. The rate applies to all types of debit balances and is non-negotiable (it is the standard rate disclosed in the account agreement and the schedule of charges).

DP charges on Zerodha sell transactions

Mon, 11 May 2026 00:00:00 +0000

Overview

When shares held in a client’s CDSL demat account are sold on the stock exchange, the depository participant (DP) debits the securities from the account and instructs CDSL to transfer them to the clearing corporation for settlement. This debit operation triggers a depository participant charge. At Zerodha, the DP charge is Rs 13.50 per ISIN (unique security identifier) per day, plus 18 percent GST, making the total Rs 15.93 per ISIN per day.

Equity delivery brokerage at Zerodha (zero fee)

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha charges zero brokerage on equity delivery trades – orders placed under the CNC (Cash and Carry) product type on its Kite trading platform. This means the broker retains no brokerage fee from the client on the buy or sell leg of a delivery trade. The policy is unconditional: it applies to all listed equity shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with no minimum transaction value, no monthly trade-count threshold, and no account-tier qualification required.

Equity intraday brokerage at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha charges 0.03 percent of turnover per executed order or Rs 20 per executed order, whichever is lower, on equity intraday trades placed under the MIS (Margin Intraday Square-off) product type on its Kite platform. This rate applies on each leg of the trade – both the opening order and the closing order – and is assessed against the actual traded value, not the notional value leveraged through intraday margin.

Exchange transaction charges on NSE, BSE, and MCX

Mon, 11 May 2026 00:00:00 +0000

Overview

Every recognised stock exchange in India charges a transaction fee on trades settled through its clearing mechanism. These charges are levied on brokers by the exchange and are passed through to clients as a line item on the contract note. At Zerodha, exchange transaction charges from the National Stock Exchange (NSE), the Bombay Stock Exchange (BSE), and the Multi Commodity Exchange (MCX) are collected from clients at the rate prescribed by the respective exchange and remitted without markup. The charges fund the exchange’s infrastructure, regulatory compliance, clearing and settlement operations, and investor services.

F&O futures brokerage at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha charges a flat Rs 20 per executed order on futures contracts traded on the National Stock Exchange (NSE), the Bombay Stock Exchange (BSE), and the Multi Commodity Exchange (MCX). The charge is assessed per order, not per lot. A single order covering ten lots of a futures contract incurs one Rs 20 brokerage charge. The rate is identical whether the trade opens a new position (NRML or MIS product type) or closes an existing one.

F&O options brokerage at Zerodha (Rs 20 flat)

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha charges a flat Rs 20 per executed order on options contracts traded on the National Stock Exchange (NSE), the Bombay Stock Exchange (BSE), and the Multi Commodity Exchange (MCX). This rate applies to all options order types – market orders, limit orders, stop-loss orders – and to both buy and sell legs. The Rs 20 charge is per executed order, not per lot, making large multi-lot options positions substantially cheaper than under percentage-of-premium brokerage models.

GST on broking charges in India

Mon, 11 May 2026 00:00:00 +0000

Overview

Goods and Services Tax (GST) at 18 percent is levied on the service charges associated with securities trading in India. At Zerodha, GST applies to three components: brokerage, exchange transaction charges, and the SEBI turnover fee. It does not apply to Securities Transaction Tax, stamp duty, or the IPFT levy, which are statutory taxes or trust levies, not service fees.

For most active traders, GST on broking charges is a meaningful cost component. On large trades where brokerage is Rs 20 and exchange charges might be Rs 5, GST adds Rs 4.50 to the total debit. On delivery trades where brokerage is zero, GST is charged only on the exchange charge and SEBI fee, reducing to approximately Rs 0.55 per Rs 1,00,000 of turnover.

IPFT levy on Zerodha trades

Mon, 11 May 2026 00:00:00 +0000

Overview

The Investor Protection and Education Fund Trust (IPFT) levy is a small charge collected by stock exchanges on every trade and deposited into the IPFT fund maintained under SEBI. The levy funds investor education, awareness campaigns, and investor protection initiatives conducted or supported by SEBI. At Zerodha, the IPFT levy is embedded in the “exchange charges” or shown as a separate sub-item on the contract note, depending on the contract note format.

MTF interest and brokerage at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

The Margin Trading Facility (MTF) at Zerodha allows eligible clients to purchase equity shares by paying only a portion of the total purchase value (the margin amount), with Zerodha funding the remainder. The funded portion is essentially a loan from the broker, and interest accrues on it at a daily rate of approximately 0.04 percent per day (approximately 14.6 percent per annum as of mid-2026). Normal brokerage also applies on MTF trades at the same rates as for delivery trades (zero brokerage on equity delivery), and all statutory levies – STT, exchange charges, stamp duty, GST, and the SEBI turnover fee – apply in full.

NRI brokerage at Zerodha: PIS and non-PIS accounts

Mon, 11 May 2026 00:00:00 +0000

Overview

Non-Resident Indians (NRIs) who wish to invest in Indian equity markets through Zerodha operate under a regulatory framework that differs from resident Indian clients. The Foreign Exchange Management Act 1999 (FEMA) and SEBI regulations prescribe two primary routes for NRI equity investment: the Portfolio Investment Scheme (PIS) administered by the Reserve Bank of India (RBI), and the non-PIS route for non-repatriable investments. Each route carries different brokerage rates and compliance requirements at Zerodha.

Off-market transfer charges at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

An off-market transfer is the movement of securities from one demat account to another without involvement of a stock exchange. Unlike exchange-settled trades (where the clearing corporation facilitates delivery), off-market transfers are direct demat-to-demat instructions settled through the depository (CDSL or NSDL) alone. Common scenarios include transferring shares as a gift, inheritance, restructuring of holdings between family members, or consolidating holdings from multiple demat accounts.

At Zerodha, off-market transfers from a client’s CDSL demat account carry a charge of Rs 25 per instruction or 0.03 percent of the transfer value, whichever is higher, plus 18 percent GST. This charge applies to both transfers initiated via the CDSL easiest portal and those processed through physical Delivery Instruction Slips (DIS) submitted to Zerodha.

Payment gateway fees and UPI exemption at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha clients who add funds to their trading account via net banking or debit card pay a payment gateway fee, which is a charge levied by the payment service provider for processing the transaction. UPI (Unified Payments Interface) fund transfers are free of any gateway charge. The payment gateway fee varies depending on the funding method used and the amount transferred.

Zerodha does not profit from the payment gateway fee – it is charged by the third-party payment gateway and passed through to the client at cost. UPI transfers are zero-cost for both Zerodha and the client because the NPCI (National Payments Corporation of India) bears the interchange costs on UPI transactions to promote digital payments adoption.

Pledge and unpledge charges at Zerodha

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha clients who wish to use their existing equity holdings as margin collateral for futures and options trading must pledge those shares with Zerodha. The pledge creates a lien on the shares in favour of the broker (and ultimately in favour of the exchange’s clearing corporation). Zerodha charges Rs 30 plus 18 percent GST (total Rs 35.40) per pledge instruction, and the same charge applies per unpledge instruction when the lien is released.

SEBI turnover fee on stock exchange transactions

Mon, 11 May 2026 00:00:00 +0000

Overview

The Securities and Exchange Board of India (SEBI) levies a turnover fee on all transactions executed on recognised stock exchanges in India. The fee is currently set at 0.0001 percent (equivalent to Rs 10 per crore of turnover, or Re 0.10 per lakh) and is collected by the exchange from the broker on behalf of SEBI, which then passes the cost to clients as a line item on the contract note. At Zerodha, the SEBI turnover fee appears separately on contract notes and in the Kite trading platform’s charges breakdown.

Stamp duty on securities transactions in India

Mon, 11 May 2026 00:00:00 +0000

Overview

Stamp duty on securities transactions in India is a state-level tax levied under the Indian Stamp Act 1899. Prior to 1 July 2020, stamp duty rates and collection mechanisms varied significantly across states, with some states levying duty on both sides of a transaction, creating a fragmented and often non-transparent cost for traders. The Finance Act 2019 amended the Indian Stamp Act 1899 and introduced a uniform national framework for stamp duty on exchange-traded securities, effective 1 July 2020.

STT and CTT on Zerodha trades

Mon, 11 May 2026 00:00:00 +0000

Overview

Securities Transaction Tax (STT) and Commodities Transaction Tax (CTT) are transaction-based taxes levied by the central government of India on trades executed on recognised stock and commodity exchanges. They are collected at the source by the exchange, which deducts them from the proceeds of each trade and remits them to the government. Brokers such as Zerodha pass these amounts through to clients as mandatory deductions on the contract note; they are not charges that Zerodha sets or retains.

Zerodha brokerage structure overview

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha operates a flat-fee brokerage model that departed from the percentage-of-turnover convention dominant among Indian brokers when the firm launched in 2010. Under this model, the brokerage component of a trade’s cost is either zero (for equity delivery) or capped at a flat Rs 20 per executed order across all other segments. The total amount debited from a client’s account, however, is substantially larger because several statutory levies – securities transaction tax, exchange transaction charges, GST, stamp duty, and the SEBI turnover fee – are collected on top of brokerage and remitted to the relevant governmental or regulatory authorities.