Zerodha vs Indmoney vs Upstox Demat Charges Compared (2026)

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Last updated: May 2026 · Charges and offers verified against official broker pages where noted.

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Overview
Description
Brand/Store
Availability
User Rating
Review
Account opening & AMC
Account Opening Fee
AMC Upto ₹4 Lakh
AMC ₹4 to ₹10 Lakh
Brokerage Charges & Fees
Brokerage Plan
Commodity Futures charges
Commodity Options charges
Currency Futures charges
Currency Options charges
Equity Delivery Charges
Equity Futures charges
Equity Intraday Charges
Equity Options charges
Pledge Charges
Interest on Margin Trading
Margin Re-Pledge
Pledge Creation Charges
Pledge Invocation Charges
Leverage (Margin) Offered
Equity Delivery Margin
Equity Intraday Margin
Unique Offerings
Brokerage Cashback
Flexible Brokerage Plans
Free Brokerage
Free Equity Delivery
Free Intraday Trading
No Brokerage on Loss Trades
STT & CTT Charges
Currency Futures STT & CTT
Currency Options STT & CTT
Equity Delivery STT & CTT
Equity Futures STT & CTT
Equity Intraday STT & CTT
Equity Options STT & CTT
Transaction Charges
Comm. Futures Trxn. Charges
Comm. Options Trxn. Charges
Curr. Futures Trxn. Charges
Curr. Options Trxn. Charges
Equity Del. Trxn. Charges
Equity Futures Trxn. Charges
Equity Intra. Trxn. Charges
Equity Options Trxn. Charges
Stamp Duty charges
Commodity Futures Stamp Duty
Commodity Options Stamp Duty
Currency Futures Stamp Duty
Currency Options Stamp Duty
Equity Delivery Stamp Duty
Equity Futures Stamp Duty
Equity Intraday Stamp Duty
Equity Options Stamp Duty
Other Charges
Account Closure Charges
Call and Trade charges
Dematerialization Charges
DP Charges
GST charges
Reactivation Charges
SEBI Turnover Charges
Auto Square off Charges
KRA, CKYC, ESign Charges

Zerodha Review 2026: Demat Charges, AMC & Brokerage
Zerodha demat account review: opening fee ₹0, AMC ₹300 + GST/year for non-BSDA resident accounts (₹75/quarter), and brokerage charges updated May 2026. Informational only—not investment advice.
In stock
-
₹0
₹300 + GST/year for non-BSDA resident accounts (₹75/quarter)
₹100/year (BSDA)
Regular Zerodha online plan
₹20 or 0.03% per executed order, lower
₹20 per executed order
₹20 or 0.03% per executed order, lower
₹20 per executed order
₹0
Lower of ₹20 or 0.03% per executed order
Lower of ₹20 or 0.03% per executed order
₹20 per executed order
14.60% p.a. (0.04%/day)
Yes
₹30 + GST per ISIN standard; ₹15 + GST per ISIN for MTF
₹30 + GST per ISIN standard; ₹15 + GST per ISIN for MTF
1x; 100% upfront delivery margin
Up to 5x
No
No
No
Yes
No
No
Nil
Nil
STT 0.10% on buy and sell
STT 0.05% on sell side
STT 0.025% on sell side
STT 0.15% on sell side premium; 0.15% on exercise intrinsic value
MCX 0.00210%; NCDEX 0.0058%
MCX 0.0418%; NCDEX 0.03%
NSE 0.00035% on turnover
NSE 0.0311% on premium
NSE 0.00307%; BSE 0.00375%
NSE 0.00183% on contract value
NSE 0.00307%; BSE 0.00375%
NSE 0.03553% on premium; BSE 0.0325% on premium
0.002% on buy side
0.003% on buy side premium
0.0001% on buy side
0.0001% on buy side
0.015% or ₹1,500/crore on buy side
0.002% or ₹200/crore on buy side
0.003% or ₹300/crore on buy side
0.003% or ₹300/crore on buy side
₹0
₹50 per order
₹150 per certificate
₹13 + GST per ISIN
18% on brokerage, DP, exchange transaction charges, SEBI charges and other taxable service charges
₹0
₹10/crore or 0.0001% of turnover
₹50 per order
₹0

Indmoney Review 2026: Demat Charges, AMC & Brokerage
Indmoney demat account review: opening fee ₹0, AMC ₹0 (Free for lifetime), and brokerage charges updated May 2026. Informational only—not investment advice.
In stock
-
₹0
₹0 (Free for lifetime)
₹0/year
INDstocks Indian Stocks pricing
₹20 per executed order
₹20 per executed order
₹20 per executed order
₹20 per executed order
Lower of ₹20 or 0.1% per executed order; minimum ₹2
₹20 per executed order
Lower of ₹20 or 0.1% per executed order; minimum ₹2
₹20 per executed order
MTF offered up to 4x; interest charged on funded amount
Yes
₹0 margin pledge/unpledge; ₹20 + GST per ISIN for MTF pledge/unpledge
₹0 margin unpledge; ₹20 + GST per ISIN for MTF unpledge
1x; 100% upfront delivery margin
Up to 5x
No
No
No
No
No
No
Nil
Nil
STT 0.10% on buy and sell
STT 0.05% on sell side
STT 0.025% on sell side
STT 0.15% on sell side premium; 0.15% on exercise intrinsic value
MCX 0.00210%; NCDEX 0.0058%
MCX 0.0418%; NCDEX 0.03%
NSE 0.00035% on turnover
NSE 0.0311% on premium
NSE 0.00307%; BSE 0.00375%
NSE 0.00183% on contract value
NSE 0.00307%; BSE 0.00375%
NSE 0.03553% on premium; BSE 0.0325% on premium
0.002% on buy side
0.003% on buy side premium
0.0001% on buy side
0.0001% on buy side
0.015% or ₹1,500/crore on buy side
0.002% or ₹200/crore on buy side
0.003% or ₹300/crore on buy side
0.003% or ₹300/crore on buy side
₹0
₹500 per order
₹250 per certificate
₹18.50 + GST per ISIN on delivery sell
18% on brokerage, DP, exchange transaction charges, SEBI charges and other taxable service charges
₹0
₹10/crore or 0.0001% of turnover
₹50 per order
₹0

Upstox Review 2026: Demat Charges, AMC & Brokerage
8.7
Upstox demat account review: opening fee ₹0, AMC ₹0 first year; then ₹300 + GST/year for non-BSDA users, and brokerage charges updated May 2026. Informational only—not investment advice.
In stock
Features & Services Provided
9
Brokerage Charges & Fees
8.7
Users Rating
8.5
User Interface
8.8
Customer Support
9.3
₹0
₹0 first year; then ₹300 + GST/year for non-BSDA users
₹100/year (BSDA)
Regular Upstox pay-per-use plan
₹20 per executed order
₹20 per executed order
₹20 per executed order
₹20 per executed order
₹20 per executed order
Lower of ₹20 or 0.05%
Lower of ₹20 or 0.05% per executed order
₹20 per executed order
MTF interest ₹20/day per ₹50,000 borrowed slab
Yes
₹20 + GST per scrip
₹20 + GST per scrip
1x; 100% upfront delivery margin
Up to 5x
No
No
No
No
No
No
Nil
Nil
STT 0.10% on buy and sell
STT 0.05% on sell side
STT 0.025% on sell side
STT 0.15% on sell side premium; 0.15% on exercise intrinsic value
MCX 0.00210%; NCDEX 0.0058%
MCX 0.0418%; NCDEX 0.03%
NSE 0.00035% on turnover
NSE 0.0311% on premium
NSE 0.00307%; BSE 0.00375%
NSE 0.00183% on contract value
NSE 0.00307%; BSE 0.00375%
NSE 0.03553% on premium; BSE 0.0325% on premium
0.002% on buy side
0.003% on buy side premium
0.0001% on buy side
0.0001% on buy side
0.015% or ₹1,500/crore on buy side
0.002% or ₹200/crore on buy side
0.003% or ₹300/crore on buy side
0.003% or ₹300/crore on buy side
₹0
₹75 + GST
₹100 per cert + ₹50 courier
₹20 + GST per scrip/day
18% on brokerage, DP, exchange transaction charges, SEBI charges and other taxable service charges
₹0
₹10/crore or 0.0001% of turnover
₹75 + GST
₹50 + GST account modification

By Ajay Bohra · About the author

For Annual Maintenance Charges (AMC): Zerodha: ₹300 + GST/year for non-BSDA resident accounts (₹75/quarter); Indmoney: ₹0 (Free for lifetime); Upstox: ₹0 first year; then ₹300 + GST/year for non-BSDA users. Informational only; confirm tariffs on each broker's official site before opening an account.

This Zerodha vs Indmoney vs Upstox guide compares charges and account terms for Zerodha, Indmoney, and Upstox. Figures in the table below match the live comparison widget above. Confirm current tariffs on each broker’s official website before opening an account. More comparisons: broker comparisons hub.

Charges at a glance

Parameter	Zerodha	Indmoney	Upstox
Annual Maintenance Charges (AMC)	₹300 + GST/year for non-BSDA resident accounts (₹75/quarter)	₹0 (Free for lifetime)	₹0 first year; then ₹300 + GST/year for non-BSDA users
Brokerage Plan	Regular Zerodha online plan	INDstocks Indian Stocks pricing	Regular Upstox pay-per-use plan
Equity Delivery Charges	₹0	Lower of ₹20 or 0.1% per executed order; minimum ₹2	₹20 per executed order
Equity Intraday Charges	Lower of ₹20 or 0.03% per executed order	Lower of ₹20 or 0.1% per executed order; minimum ₹2	Lower of ₹20 or 0.05% per executed order
Equity Futures charges	Lower of ₹20 or 0.03% per executed order	₹20 per executed order	Lower of ₹20 or 0.05%

Key differences

Annual Maintenance Charges (AMC): Zerodha — ₹300 + GST/year for non-BSDA resident accounts (₹75/quarter); Indmoney — ₹0 (Free for lifetime); Upstox — ₹0 first year; then ₹300 + GST/year for non-BSDA users.
Brokerage Plan: Zerodha — Regular Zerodha online plan; Indmoney — INDstocks Indian Stocks pricing; Upstox — Regular Upstox pay-per-use plan.
Equity Delivery Charges: Zerodha — ₹0; Indmoney — Lower of ₹20 or 0.1% per executed order; minimum ₹2; Upstox — ₹20 per executed order.
Equity Intraday Charges: Zerodha — Lower of ₹20 or 0.03% per executed order; Indmoney — Lower of ₹20 or 0.1% per executed order; minimum ₹2; Upstox — Lower of ₹20 or 0.05% per executed order.
Equity Futures charges: Zerodha — Lower of ₹20 or 0.03% per executed order; Indmoney — ₹20 per executed order; Upstox — Lower of ₹20 or 0.05%.

Individual broker reviews

Read our detailed reviews: Zerodha demat review, Indmoney demat review, Upstox demat review.

FAQs

What is the Zerodha demat account opening fee?

₹0. Confirm on Zerodha's official site.

What is the Indmoney demat account opening fee?

₹0. Confirm on Indmoney's official site.

What is the Upstox demat account opening fee?

₹0. Confirm on Upstox's official site.

What is the Zerodha demat AMC?

₹300 + GST/year for non-BSDA resident accounts (₹75/quarter). Confirm on Zerodha's official site.

What is the Indmoney demat AMC?

₹0 (Free for lifetime). Confirm on Indmoney's official site.

What is the Upstox demat AMC?

₹0 first year; then ₹300 + GST/year for non-BSDA users. Confirm on Upstox's official site.

What are Zerodha equity delivery brokerage charges?

₹0. Confirm on Zerodha's official site.

What are Indmoney equity delivery brokerage charges?

Lower of ₹20 or 0.1% per executed order; minimum ₹2. Confirm on Indmoney's official site.

Brokerage plans, AMC slabs, and F&O tariffs can change. Use the comparison table at the top of this page for side-by-side product fields, and verify final numbers on official broker sites before you trade. This page is for information and education only—not personalized investment advice.