Ajay Bohra
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HDFC Sky: delivery brokerage lower of ₹20 or 2.5%, AMC ₹0 in year one, then ₹20 a month. Zerodha: delivery ₹0, AMC ₹0 in year one, then ₹300 + GST a year. A ₹1,00,000 delivery round trip costs ₹289.68 on HDFC Sky and ₹237.82 on Zerodha.
Last updated: October 2026
This page compares HDFC Sky and Zerodha on what you actually pay: brokerage, AMC, DP charges and the total cost of three sample trades. Charges were checked against each broker’s published pricing in October 2026 and can change, so confirm before you open an account. This is information, not investment advice.
HDFC Sky vs Zerodha: charges side by side
| Charge | HDFC Sky | Zerodha |
|---|---|---|
| Account opening | Free | ₹0 |
| Equity delivery brokerage | Lower of ₹20 or 2.5% | ₹0 |
| Equity intraday brokerage | Lower of ₹20 or 2.5% | Lower of ₹20 or 0.03% |
| Futures and options | Options ₹20 per order; futures lower of ₹20 or 2.5% | ₹20 per order (futures: lower of ₹20 or 0.03%) |
| Demat AMC | ₹20 a month, free for the first year | Free for the first year, then ₹300 + GST a year (non-BSDA) |
| DP charge on sells | ₹20 per demat transaction (GST not stated) | ₹15.34 per scrip sold including GST |
| Pledge | ₹20 per transaction | ₹30 + GST per ISIN (₹15 + GST for MTF) |
| Call and trade | ₹20 per call | ₹50 per order |
| Auto square-off | ₹50 + GST per squared-off position | ₹50 per order (dealer-placed orders and auto square-off) |
What the same trades cost on each broker
These examples add up brokerage, STT, exchange charges, SEBI fees, stamp duty, GST and the DP charge on a round trip (buy and sell). Delivery and intraday trades buy and sell ₹1,00,000 of shares once each. The options trade buys premium worth ₹50,000 and sells it for ₹60,000, with one lot per order. Amounts are rounded to the nearest paisa.
| Trade | HDFC Sky | Zerodha |
|---|---|---|
| Delivery (₹1,00,000 buy and sell) | ₹289.68 | ₹237.82 |
| Intraday (₹1,00,000 buy and sell) | ₹82.68 | ₹82.68 |
| Options (₹50,000 buy, ₹60,000 sell) | ₹184.95 | ₹184.95 |
Delivery: Zerodha costs ₹51.86 less (₹237.82 against ₹289.68). Intraday: the two cost the same (₹82.68). Options: the two cost the same (₹184.95). Your own order sizes and how often you trade decide which costs less, so test them in the calculator.
HDFC Sky or Zerodha: what to weigh
HDFC Sky may suit you if:
- you keep the account for years: AMC after year one is ₹20 a month against ₹300 + GST a year
- you place phone orders: call and trade is cheaper (₹20 per call against ₹50 per order)
Zerodha may suit you if:
- you buy and sell delivery often (the ₹1,00,000 round trip costs ₹51.86 less here)
- you sell shares often: the DP charge per sell is lower (₹15.34 against ₹20.00)
Both statements describe published charges, not a recommendation. Your own order sizes, how often you trade and how long you hold shares decide which costs more. Use the brokerage calculator to test your own numbers.
Full charge breakdowns
See every charge, worked examples and FAQs on the HDFC Sky charges page and the Zerodha charges page. More pairs are on the broker comparisons hub.
HDFC Sky vs Zerodha: FAQs
Which is cheaper for delivery, HDFC Sky or Zerodha?
Zerodha on the ₹1,00,000 delivery example: ₹289.68 on HDFC Sky and ₹237.82 on Zerodha. Delivery brokerage is lower of ₹20 or 2.5% at HDFC Sky and ₹0 at Zerodha.
Which has the lower AMC?
HDFC Sky: ₹0 in year one, then ₹20 a month. Zerodha: ₹0 in year one, then ₹300 + GST a year.
How do F&O charges compare?
HDFC Sky: Options ₹20 per order; futures lower of ₹20 or 2.5%. Zerodha: ₹20 per order (futures: lower of ₹20 or 0.03%). On the options example the round trip costs ₹184.95 on HDFC Sky and ₹184.95 on Zerodha.
How do DP charges compare?
HDFC Sky: ₹20 per demat transaction (GST not stated). Zerodha: ₹15.34 per scrip sold including GST.
Is STT different between brokers?
No. STT is set by the government: 0.1% on buy and sell for delivery, 0.025% on the sell side for intraday, 0.05% on the sell side for futures and 0.15% on the sell premium for options. It is the same at every broker.
Sources
HDFC Sky: HDFC Sky pricing page. Zerodha: Zerodha charges page. STT, stamp duty, SEBI turnover fee and exchange transaction charges follow the rates set by the government, SEBI and the exchanges.
Brokerage, AMC and statutory charges change. This page is for information and education only, not investment advice.
