Zerodha is ₹240.66 cheaper on a ₹50K delivery trade
| Trade type | Zerodha | Kotak Securities | Gap |
|---|---|---|---|
| Delivery ₹50K round-trip | ₹126.85 | ₹367.51 | ₹240.66 |
| Intraday ₹1L round-trip | ₹83.23 | ₹59.63 | ₹23.60 |
| Futures ₹1L round-trip | ₹70.69 | ₹47.09 | ₹23.60 |
| Options ₹1L round-trip | ₹276.30 | ₹252.70 | ₹23.60 |
Zerodha saves ₹6,231.42/yr
Zerodha saves ₹28,114.38/yr
Kotak Securities saves ₹24,976.50/yr
| Charge | Zerodha | Kotak Securities |
|---|---|---|
| Delivery Brokerage | ₹0 | 0.2% of trade value |
| Intraday Brokerage | 0.03% or ₹20, lower | 0.05% or ₹10, lower |
| F&O Futures Brokerage | 0.03% or ₹20, lower | ₹10/order |
| F&O Options Brokerage | Flat ₹20/order | ₹10/order |
| CDS Futures | 0.03% or ₹20, lower | ₹10/order |
| CDS Options | Flat ₹20/order | ₹10/order |
| Commodity Futures | 0.03% or ₹20, lower | ₹10/order |
| Commodity Options | Flat ₹20/order | ₹10/order |
| Charge | Zerodha | Kotak Securities |
|---|---|---|
| DP Charge | ₹13 + 18% GST = ₹15.34 | 0.04% of value (min ₹20) |
| AMC | ₹75 + 18% GST = ₹88.50/year | ₹600/year |
| MF DP Charges | Free for MF redemptions | Free |
| Dematerialisation | ₹150 + GST/certificate + CDSL charges | ₹250 + GST/certificate |
| Rematerialisation | ₹150 + GST/certificate + CDSL charges | ₹300 + GST/certificate |
| Failed Demat Transaction | ₹50 + GST per failed instruction | ₹50 + GST per failed instruction |
| Charge | Zerodha | Kotak Securities |
|---|---|---|
| MTF Interest Rate | 14.60% p.a. (~0.040%/day) | Plan-based: ~14.97% p.a. standard (~0.041%/day), ~9.69% p.a. pro |
| MTF Brokerage | 0.3% or ₹20, lower | Plan-based (0% to 0.30%) |
| MTF Conversion | Free (auto-conversion at 3:20 PM) | ₹25 + GST = ₹29.50 |
| MTF Pledging | Pledge: ₹15 + GST per ISIN per request; Unpledge: ₹15 + GST per request | ₹20/request per ISIN |
| Charge | Zerodha | Kotak Securities |
|---|---|---|
| Physical Settlement | 0.25% on physical delivery value | ₹10/order (as per plan) |
| Physical Settlement (Netted) | 0.25% on netted settlement value | ₹10/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) | 0.049%/day on margin shortfall |
| Pledge / Unpledge | Pledge: ₹30 + GST/ISIN (₹35.40); Unpledge: free | ₹20/request per ISIN (pledge & unpledge) |
| Delayed Payment Interest | 0.05%/day on negative balance; 0.035%/day on non-cash overuse | 0.049%/day on outstanding debit |
| Off-Market Transfer | ₹25 + 18% GST = ₹29.50/security/transaction | 0.04% of securities value (min ₹20) |
| Charge | Zerodha | Kotak Securities |
|---|---|---|
| Call & Trade | ₹50 + 18% GST = ₹59/order | ₹49 + GST/order = ₹57.82 |
| Auto Square-off | ₹50 + 18% GST = ₹59/order | ₹50 + GST/position = ₹59 |
| Payment Gateway | ₹9 + 18% GST = ₹10.62 | ₹7 + GST/transaction = ₹8.26 |
| Instant Withdrawal | Free via UPI | N/A (bank transfer) |
| Corporate Action | Free | Free |
| API Access | Kite Connect: ₹2,000/month | Free (Kotak Neo API) |
| API Brokerage | Same as manual trades | Same as regular trades |
| Charge | Zerodha | Kotak Securities |
|---|---|---|
| Account Opening | Free | ₹99 |
| DDPI | ₹100 + 18% GST = ₹118 | ₹100 + GST = ₹118 |
| Account Reactivation | ₹50 + GST = ₹59 | ₹200 + GST = ₹236 |
| NPS | Not offered | Available |
| Charge | Zerodha | Kotak Securities |
|---|---|---|
| DIS Slip | ₹100 + GST/booklet (not needed with DDPI) | ₹100 + GST/booklet |
| Physical CMR | ₹50 + GST | ₹75 + GST |
| P&L / Ledger (Digital) | Free (downloadable from Console) | Free (downloadable) |
| P&L / Ledger (Physical) | Not available | ₹100 + GST per copy |
| Contract Note (Physical) | ₹20 + GST per contract note | ₹30 + GST per contract note |
| Charge | Zerodha | Kotak Securities |
|---|---|---|
| G-Sec / T-Bills | Available on Coin — no additional charge | Available on Neo platform |
| SLB | Not offered directly | Available |
| LAS | Not offered | Available via Kotak Bank |
| Charge | Zerodha | Kotak Securities |
|---|---|---|
| Name Change | ₹25 + GST (₹29.50) Up to 72 working hours | Free 24–48 working hours |
| Mobile & Email Change | Free Up to 24 working hours | Free |
| Address Change | ₹25 + GST (₹29.50) Up to 72 working hours | Free |
| Nominee Change | Adding: Free; Modification: ₹25 + GST (₹29.50) Up to 5 working days | Free |
| DOB Change | ₹25 + GST (₹29.50) Up to 72 working hours | Free |
| Bank Account Change | ₹25 + GST (₹29.50) Up to 72 working hours | Free |
| KYC Modification | Re-KYC: Free; Modification: ₹25 + GST (₹29.50) Up to 5 working days | Free |
| Cheque Bounce | ₹350 + 18% GST = ₹413 | Online: ₹350 + bank charges; Offline: ₹500 + bank charges |
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.
Full profile →Kotak Securities is the brokerage arm of Kotak Mahindra Bank, India's fourth-largest bank. It offers full-service brokerage with a strong research desk and dedicated relationship managers. For self-directed investors, the 0.2% delivery brokerage and ₹600 AMC make it significantly more expensive than discount brokers. Best suited to investors who rely heavily on research and advisory.
Full profile →Set your trade frequency, value, and segment to see who stays cheapest for your style.