Head-to-head comparison

Zerodha vs Groww

Zerodha is ₹51.86 cheaper on a ₹50K delivery trade

4 Zerodha
of 4 trade types won
0 Groww
  • Zerodha wins 4 of 4 trade types on per-trade cost
  • AMC: Groww charges nothing vs ₹88.50 at Zerodha
  • DP charge: Zerodha is cheaper at ₹15.34/sell vs ₹20.00
  • MTF interest: Zerodha at 14.6% vs 15.75%
01

Per-trade cost

Trade type Zerodha Groww Gap
Delivery ₹50K round-trip ₹126.85 ₹178.71 ₹51.86
Intraday ₹1L round-trip ₹83.23 ₹83.23 —
Futures ₹1L round-trip ₹70.69 ₹70.69 —
Options ₹1L round-trip ₹276.30 ₹276.30 —
02

Annual cost by profile

Passive Investor 2 delivery/mo, 1 sell day
Zerodha ₹2,948.93/yr Trading: ₹2,860.43 · AMC: ₹88.50
Groww ₹4,049.15/yr Trading: ₹4,049.15 · AMC: ₹0.00

Zerodha saves ₹1,100.22/yr

Swing Trader 8 delivery/mo, 4 sell days
Zerodha ₹13,671.30/yr Trading: ₹13,582.80 · AMC: ₹88.50
Groww ₹18,337.68/yr Trading: ₹18,337.68 · AMC: ₹0.00

Zerodha saves ₹4,666.38/yr

F&O Active 30 futures + 60 options/mo
Zerodha ₹224,473.62/yr Trading: ₹224,385.12 · AMC: ₹88.50
Groww ₹224,385.12/yr Trading: ₹224,385.12 · AMC: ₹0.00

Groww saves ₹88.50/yr

03

Trading

Charge Zerodha Groww
Delivery Brokerage ₹0 0.1% or ₹20, lower (min ₹5)
Intraday Brokerage 0.03% or ₹20, lower 0.1% or ₹20, lower (min ₹5)
F&O Futures Brokerage 0.03% or ₹20, lower Flat ₹20/order
F&O Options Brokerage Flat ₹20/order Flat ₹20/order
CDS Futures 0.03% or ₹20, lower Flat ₹20/order
CDS Options Flat ₹20/order Flat ₹20/order
Commodity Futures 0.03% or ₹20, lower Not offered
Commodity Options Flat ₹20/order Not offered
04

Demat

Charge Zerodha Groww
DP Charge ₹13 + 18% GST = ₹15.34 ₹20/scrip (free under ₹100)
AMC ₹75 + 18% GST = ₹88.50/year Free
MF DP Charges Free for MF redemptions Free
Dematerialisation ₹150 + GST/certificate + CDSL charges ₹150 + GST/certificate
Rematerialisation ₹150 + GST/certificate + CDSL charges ₹200 + GST/certificate
Failed Demat Transaction ₹50 + GST per failed instruction ₹50 + GST per failed instruction
05

MTF

Charge Zerodha Groww
MTF Interest Rate 14.60% p.a. (~0.040%/day) 15.75% p.a. (~0.043%/day for <₹25L)
MTF Brokerage 0.3% or ₹20, lower 0.1% of order value
MTF Conversion Free (auto-conversion at 3:20 PM) Free
MTF Pledging Pledge: ₹15 + GST per ISIN per request; Unpledge: ₹15 + GST per request ₹20 + GST = ₹23.60/ISIN
06

Settlement

Charge Zerodha Groww
Physical Settlement 0.25% on physical delivery value ₹20/order
Physical Settlement (Netted) 0.25% on netted settlement value ₹20/order
Clearing Charges NSE: ₹0/trade (included) Included in brokerage
Interest on Margin Shortfall 0.035% per day (12.775% yearly) on shortfall (50:50 collateral) 0.05%/day on margin shortfall
Pledge / Unpledge Pledge: ₹30 + GST/ISIN (₹35.40); Unpledge: free ₹20 + GST/ISIN = ₹23.60 for pledge & unpledge each
Delayed Payment Interest 0.05%/day on negative balance; 0.035%/day on non-cash overuse 0.045%/day on outstanding debit
Off-Market Transfer ₹25 + 18% GST = ₹29.50/security/transaction ~₹16 + GST/ISIN
07

Services

Charge Zerodha Groww
Call & Trade ₹50 + 18% GST = ₹59/order Not available
Auto Square-off ₹50 + 18% GST = ₹59/order ₹50/position
Payment Gateway ₹9 + 18% GST = ₹10.62 Free
Instant Withdrawal Free via UPI Free via UPI
Corporate Action Free Free
API Access Kite Connect: ₹2,000/month Not offered
API Brokerage Same as manual trades Not offered
08

Account

Charge Zerodha Groww
Account Opening Free Free
DDPI ₹100 + 18% GST = ₹118 ₹100 + 18% GST = ₹118
Account Reactivation ₹50 + GST = ₹59 ₹100 + GST = ₹118
NPS Not offered Not offered
09

Documents

Charge Zerodha Groww
DIS Slip ₹100 + GST/booklet (not needed with DDPI) ₹100 + GST/booklet
Physical CMR ₹50 + GST ₹50 + GST
P&L / Ledger (Digital) Free (downloadable from Console) Free (downloadable)
P&L / Ledger (Physical) Not available Not available
Contract Note (Physical) ₹20 + GST per contract note Not available
10

Instruments

Charge Zerodha Groww
G-Sec / T-Bills Available on Coin — no additional charge Not offered
SLB Not offered directly Not offered
LAS Not offered Not offered
11

Modifications

Charge Zerodha Groww
Name Change ₹25 + GST (₹29.50) Up to 72 working hours ₹50 + GST (₹59) 2 working days
Mobile & Email Change Free Up to 24 working hours ₹50 + GST (₹59)
Address Change ₹25 + GST (₹29.50) Up to 72 working hours ₹50 + GST (₹59)
Nominee Change Adding: Free; Modification: ₹25 + GST (₹29.50) Up to 5 working days ₹50 + GST (₹59)
DOB Change ₹25 + GST (₹29.50) Up to 72 working hours ₹50 + GST (₹59)
Bank Account Change ₹25 + GST (₹29.50) Up to 72 working hours Free 2–3 working days
KYC Modification Re-KYC: Free; Modification: ₹25 + GST (₹29.50) Up to 5 working days ₹50 + GST (₹59)
Cheque Bounce ₹350 + 18% GST = ₹413 N/A

Zerodha

Zerodha launched in 2010 and upended Indian brokerage by charging zero on delivery trades and capping F&O fees at ₹20. Today it is India's largest broker by active clients — entirely bootstrapped, no external funding. The Kite trading platform and Coin mutual fund platform are widely considered best-in-class.

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Groww

Groww started as a mutual fund platform in 2016 and added stock trading later. Backed by Sequoia, Tiger Global, and others, it has 37M+ users — mostly first-time investors. Its brokerage on delivery (min ₹5, max ₹20) makes it pricier than zero-brokerage peers for small trades, but the interface is among the cleanest in the industry.

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