Zerodha charges Rs 0 brokerage on equity delivery, while Groww charges 0.1% or Rs 20 per executed order, whichever is lower, with a Rs 5 minimum. Groww lists Rs 0 demat AMC, whereas Zerodha waives AMC only in the first year for resident individuals, so the cheaper app depends on how often and how much you trade.
Diving Finance is not a SEBI-registered investment adviser. The author and Diving Finance hold no positions in the companies named and have no affiliate relationship with them. This article is for education only and is not investment, tax or legal advice. Brokerage, AMC and other fees change. Confirm the live rate card on each broker’s official charges page before you open or trade. Diving Finance receives no payment from Zerodha, Groww or Upstox for this comparison unless a page clearly discloses an affiliate or referral link. This page carries no affiliate or referral links.
Key Highlights
- Equity delivery brokerage: Rs 0 at Zerodha; 0.1% or Rs 20, whichever is lower, minimum Rs 5 at Groww.
- Demat AMC: Rs 0 on Groww’s pricing page; Zerodha is free in year one, then follows a BSDA or non-BSDA schedule (non-BSDA Rs 300 a year plus GST).
- Options: flat Rs 20 per executed order at both.
- DP charge on selling delivery shares: Rs 15.34 per scrip at Zerodha (GST included); Rs 3.5 depository plus Rs 16.5 Groww fee, plus GST, per sell transaction at Groww.
- MTF interest: 0.04% a day at Zerodha; 14.95% a year at Groww.
- Groww’s page says equity brokerage for UPI Mandate balance users is 1% of order value with no cap.
- STT, stamp duty, SEBI fees and exchange charges apply at every broker.
- All figures are from official pricing pages read on 4 November 2026. Recheck them on the day you decide.
Quick broker fee comparison
Table A covers account and trading fees. Last checked: 4 November 2026.
| Charge | Zerodha | Groww |
|---|---|---|
| Account opening | Free (individual) | Rs 0 |
| Demat AMC | Free year 1, then BSDA or non-BSDA schedule | Rs 0 |
| Delivery | Rs 0 | 0.1% or Rs 20, min Rs 5 |
| Intraday | 0.03% or Rs 20 | 0.1% or Rs 20, min Rs 5 |
| Futures | 0.03% or Rs 20 | Rs 20 flat |
| Options | Rs 20 flat | Rs 20 flat |
“Whichever is lower” applies to every “or” above. Groww’s help page adds that when brokerage would be under Rs 5, the minimum is the lower of Rs 5 or 2.5% of trade value.
Table B covers other charges. Last checked: 4 November 2026.
| Charge | Zerodha | Groww |
|---|---|---|
| Direct MF | Rs 0 commission and DP (Coin) | Zero charges on direct funds |
| DP on sell | Rs 15.34 per scrip, GST included | Rs 3.5 (Rs 3.25 women) plus Rs 16.5, plus GST |
| Pledge | Rs 30 plus GST per ISIN | Rs 20 per ISIN |
| Call and trade | Rs 50 per order | Not listed on pricing page |
| Auto square-off | Rs 50 per order (dealer charge) | Rs 50 per position |
| MTF interest | 0.04% a day | 14.95% a year |
| MTF brokerage | 0.3% or Rs 20 | 0.1% of order value |
Groww’s Rs 16.5 fee is waived when the debit value is under Rs 100. Zerodha’s AMC from year two is free for BSDA holdings up to Rs 4 lakh, Rs 100 a year plus GST for Rs 4 lakh to Rs 10 lakh, and Rs 300 a year plus GST above that or for non-BSDA accounts.
One Groww line deserves attention. Its pricing page states that equity brokerage for those using UPI Mandate balance is 1% of order value, with no maximum cap. If you fund trades that way, check this before you compare.
Statutory charges (same at every broker)
These lines are set by the government, exchanges and SEBI. Brokers collect them, so switching brokers does not remove them.
| Head | Delivery | Intraday |
|---|---|---|
| STT | 0.1% on buy and sell | 0.025% on sell |
| Stamp duty | 0.015% on buy | 0.003% on buy |
| SEBI fee | Rs 10 per crore | Rs 10 per crore |
| GST | 18% on brokerage and listed heads | 18% on brokerage and listed heads |
Exchange transaction charges are not in the table on purpose. On 4 November 2026, Zerodha and Upstox showed NSE equity at 0.00307%, Upstox noting this applies from 1 March 2026, while Groww’s page still showed 0.00297%. Treat the exact rate as pending until you check the NSE or BSE circular or your contract note.
Zerodha notes that STT can be a lot more than the brokerage it charges. On large delivery trades, statutory lines usually outweigh the brokerage gap between the two apps.
Worked rupee examples (illustrative)
This compares only brokerage and DP for one delivery buy and one sell of a single stock. GST at 18% is added to Groww brokerage and DP; Zerodha’s DP figure already includes GST. Statutory charges are left out because they are the same at both.
| Round trip | Zerodha | Groww |
|---|---|---|
| Rs 10,000 buy and sell | About Rs 15.34 | About Rs 47.20 |
| Rs 1,00,000 buy and sell | About Rs 15.34 | About Rs 70.80 |
On the Rs 1,00,000 trade, Groww brokerage is Rs 20 on each side, Rs 40 plus GST. STT alone on that round trip is about Rs 200 at both brokers.
The other side of the ledger is AMC. A non-BSDA Zerodha account pays Rs 300 plus GST, about Rs 354, from year two, while Groww lists Rs 0. Someone who buys a few times a year and holds may find the AMC matters more than the per-trade gap.
Features compared
| Feature | Zerodha | Groww |
|---|---|---|
| Main platforms | Kite, Console, Coin | Groww app and web, 915 terminal |
| Direct mutual funds | Yes, via Coin | Yes |
| IPO apply | Yes | Yes |
| US stocks | Yes, charges listed | Yes, listed in pricing tabs |
| MTF and pledge | Yes | Yes |
| Learning resource | Varsity | Groww blog and calculators |
On customer base, CNBC TV18 on 8 October 2026, citing NSE data, reported Groww at 13.45 million active clients and a 29.16% NSE share in September 2026, with Zerodha at a 14.73% share. We have not opened the primary NSE file, so read these as reported figures, not a ranking of quality.
For a wider list of brokers, see our top stock brokers in India roundup. Hindi readers can read the Hindi broker list.
Which suits whom
These are fit checks, not recommendations.
Zerodha’s fee shape may suit people who buy delivery shares often or in larger amounts, sell several stocks a year, want a phone dealer option for a fee, or value Kite tools and Varsity. Budget for AMC from year two unless your holdings qualify for low-cost BSDA.
Groww’s fee shape may suit people who invest small amounts rarely, mostly use direct mutual funds, want no AMC, and prefer one simple app. Watch the per-sell DP charge and the UPI Mandate brokerage line.
For F&O traders, options cost Rs 20 per order at both. Platform reliability, margin rules and order types often matter more than brokerage here.
Whatever you choose, read the terms in our glossary if words like BSDA, DP or MTF are new, and browse the share market section for more basics. Our disclaimer page explains how we handle affiliate links.
Expert take: Ashutosh Joshi
“Match the fee schedule to how you actually invest, not to an advert. If you buy delivery shares every month, a zero-delivery broker keeps the per-trade line near nil, but plan for AMC from year two. If you invest small sums a few times a year, a zero-AMC app can cost less once you add up brokerage and DP. Open both official charges pages on the day you decide, and check how you will fund your trades.”
Frequently asked questions
Is Zerodha cheaper than Groww for delivery?
On brokerage, yes. Zerodha charges Rs 0 on equity delivery, while Groww charges 0.1% or Rs 20 per executed order, whichever is lower, with a Rs 5 minimum. Total cost also depends on AMC and DP charges, so add those before you compare, and confirm both live pricing pages.
Does Groww charge demat AMC?
Groww’s pricing page lists Rs 0 account maintenance charges, as read on 4 November 2026. Zerodha waives AMC for the first year on resident individual accounts, then applies a BSDA or non-BSDA schedule, with non-BSDA at Rs 300 a year plus GST. Recheck both pages before you open an account.
What is the DP charge at Zerodha and Groww?
Zerodha publishes Rs 15.34 per scrip when you sell, which includes the CDSL fee, its own fee and GST. Groww lists a depository fee of Rs 3.5, or Rs 3.25 for women, plus a Groww fee of Rs 16.5 per sell transaction, with GST on top. Groww waives its fee when the debit value is under Rs 100.
Zerodha or Groww: which is better for beginners?
Neither is better for everyone. Beginners who invest small amounts rarely and want no AMC may find Groww’s fee shape fits. Beginners who plan to buy delivery shares often may find Zerodha’s Rs 0 delivery brokerage fits, after budgeting for AMC. This is a fit check, not a recommendation.
Are F&O charges the same at both?
Options cost a flat Rs 20 per executed order at both brokers. Futures cost 0.03% or Rs 20, whichever is lower, at Zerodha and Rs 20 flat on Groww’s 915 pricing page. Statutory charges such as STT, stamp duty and exchange fees apply on top at both.
How do Upstox charges compare with Groww?
Upstox lists Rs 20 per executed order on equity delivery and Rs 20 or 0.1%, whichever is lower, on intraday. Groww charges 0.1% or Rs 20 with a Rs 5 minimum on both. Upstox lists call and trade at Rs 75 plus GST and AMC at Rs 0 in the first year for new customers, then Rs 300 plus GST for non-BSDA users.
Is Upstox cheaper than Zerodha for delivery?
On delivery brokerage alone, Zerodha’s published line is lower: Rs 0 against Rs 20 per executed order at Upstox. Upstox’s DP charge is Rs 20 plus GST per scrip on sell, and its MTF interest is Rs 20 a day per Rs 40,000 slab. Compare AMC, DP and MTF separately. This is not advice.
Do statutory charges differ by broker?
The structure is the same. STT, stamp duty, SEBI fees and exchange transaction charges are set by the government, SEBI and the exchanges, and brokers only collect them. A broker’s page can lag a rate change, so check your contract note. The costs you can compare are brokerage, AMC, DP, pledge, call and trade and MTF interest.
Sources
All pages read on 4 November 2026, about 9:48 PM IST.
- Zerodha charges: https://zerodha.com/charges/
- Groww pricing: https://groww.in/pricing
- Groww 915 F&O pricing: https://915.groww.in/pricing
- Groww help, “How much is the brokerage?”: https://groww.in/help/stocks,-f&o,-ipo-&-mtf/searchable/how-much-is-the-brokerage
- Upstox brokerage charges: https://upstox.com/brokerage-charges/
- CNBC TV18, NSE active clients September 2026, 8 October 2026: https://www.cnbctv18.com/market/nse-active-clients-growth-september-groww-zerodha-angel-one-upstox-20007504.htm
Diving Finance is not a SEBI-registered investment adviser. The author and Diving Finance hold no positions in the companies named and have no affiliate relationship with them. This article is for education only and is not investment, tax or legal advice. Brokerage, AMC and other fees change. Confirm the live rate card on each broker’s official charges page before you open or trade. Diving Finance receives no payment from Zerodha, Groww or Upstox for this comparison unless a page clearly discloses an affiliate or referral link. This page carries no affiliate or referral links.
