Leverage for delivery / carry-over positions

Wed, 20 May 2026 00:00:00 +0000

Equity delivery (CNC) on Zerodha requires 100% upfront payment, no leverage. F&O NRML (overnight carry) allows SPAN-based leverage. The contrast reflects the different risk profiles of the two product types.

CNC delivery

For equity delivery:

Margin: 100% of notional value.
Leverage: 1x.
Settlement: T+1 (or T+0 for eligible scrips).
Carry: Indefinite (you own the shares).

This is the standard buy-and-hold equity model. Capital is fully deployed.

F&O NRML (overnight carry)

For F&O:

Carry-Over on WebNotes

Leverage for delivery / carry-over positions

CNC delivery

F&O NRML (overnight carry)