Ajay Bohra
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Zerodha charges ₹0 delivery brokerage, while INDmoney charges the lower of ₹20 or 0.1%, minimum ₹2. Both have ₹0 AMC, and both charge ₹20 per order on F&O. A ₹1,00,000 delivery round trip costs ₹237.82 on Zerodha and ₹291.51 on INDmoney.
Last updated: October 2026
This page compares INDmoney 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.
INDmoney vs Zerodha: charges side by side
| Charge | INDmoney | Zerodha |
|---|---|---|
| Account opening | ₹0 | ₹0 |
| Equity delivery brokerage | Lower of ₹20 or 0.1%; minimum ₹2 | ₹0 |
| Equity intraday brokerage | Lower of ₹20 or 0.1%; minimum ₹2 | Lower of ₹20 or 0.03% |
| Futures and options | ₹20 per order | ₹20 per order (futures: lower of ₹20 or 0.03%) |
| Demat AMC | ₹0 | Free for the first year, then ₹300 + GST a year (non-BSDA) |
| DP charge on sells | ₹18.50 + GST per ISIN sold (₹3.50 CDSL + ₹15 INDstocks) | ₹15.34 per scrip sold including GST |
| Pledge | ₹0 for margin (non-MTF); ₹20 + GST per ISIN for MTF | ₹30 + GST per ISIN (₹15 + GST for MTF) |
| Call and trade | ₹500 per order | ₹50 per order |
| Auto square-off | Not listed on the pricing page | ₹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 | INDmoney | Zerodha |
|---|---|---|
| Delivery (₹1,00,000 buy and sell) | ₹291.51 | ₹237.82 |
| Intraday (₹1,00,000 buy and sell) | ₹82.68 | ₹82.68 |
| Options (₹50,000 buy, ₹60,000 sell) | ₹184.95 | ₹184.95 |
Zerodha costs ₹53.69 less on the ₹1,00,000 delivery round trip. Intraday and options cost the same at these sizes. INDmoney charges ₹500 for each call-and-trade order, against Zerodha’s ₹50, so use the app for orders.
INDmoney or Zerodha: what to weigh
INDmoney may suit you if:
- you also invest in US stocks, mutual funds or IPOs in the same app
- you want ₹0 AMC with no conditions
- you place small delivery orders under ₹20,000, where 0.1% is below ₹20 (minimum ₹2)
Zerodha may suit you if:
- you buy and sell delivery often, since brokerage on delivery is ₹0
- you want a lower DP charge on each sell (₹15.34 including GST, against ₹21.83 at INDmoney)
- you place small intraday orders, where 0.03% is lower than 0.1%
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 INDmoney charges page and the Zerodha charges page. More pairs are on the broker comparisons hub.
INDmoney vs Zerodha: FAQs
Which is cheaper, INDmoney or Zerodha?
For delivery, Zerodha, because brokerage is ₹0 against the lower of ₹20 or 0.1% at INDmoney. For intraday and options the two are close at typical order sizes.
Do INDmoney and Zerodha charge AMC?
Neither charges AMC. INDmoney lists ₹0 AMC; Zerodha is free for the first year and then ₹300 + GST a year for non-BSDA accounts.
How do DP charges compare?
INDmoney charges ₹18.50 + GST per ISIN sold. Zerodha charges ₹15.34 per scrip including GST.
What are call and trade charges?
INDmoney charges ₹500 per order placed through its desk. Zerodha charges ₹50 per order.
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
INDmoney: INDmoney 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.
