INDmoney vs Zerodha Charges: AMC & Brokerage

INDmoney has recently started demat and trading account services for the Indian share market at a discount brokerage. 

You have to pay a lower of 0.05% or Rs 20 per executed order for equity delivery or Intraday trading. Plus, you don’t have to pay any account opening and AMC fees. However, INDmoney doesn’t offer currency, commodity, trading. 

Apart from Indian stocks, you can also invest in US stocks, mutual funds, and fixed deposits. INDmoney has collaborated with Vested (a US-based brokerage company) to provide US stock investments in India.

On the other hand, Zerodha is a discount broker that allows you to trade or invest in equity, currency, commodity, F&O, mutual funds and ETFs. Zerodha offers discounted brokerage fees because Zerodha does not provide you with stock investment tips, research, or Robo advisory services.

Let’s compare the INDmoney vs Zerodha charges. 

Quick Comparison of INDmoney vs Zerodha Charges

Particulars	INDmoney	Zerodha
Trade In	Indian Stocks – Equity, Equity F&O, Mutual Funds, FDs, IPOs, US Stocks & ETFs	Equity, Commodity, Currency, Futures and Options, Mutual Funds, IPOs & ETFs
Account opening charges	Rs. 0 (Free)	Rs 200+ Rs 100 for Commodity (optional)
Demat AMC Fees	Rs. 0 (Free)	Rs. 300 (Rs. 75 per quarter)
Brokerage Charges	INDmoney	Zerodha Plan
Equity Delivery	0.05% or Rs 20 per executed order whichever is lower	0 (Free)
Equity Intraday	0.05% or Rs 20 per executed order whichever is lower	0.03% or Rs. 20 per executed order whichever is lower
Equity Futures	Rs. 20 per executed order	0.03% or Rs. 20 per executed order whichever is lower
Equity Options	Rs. 20 per executed order	Rs. 20 per executed order
Currency Futures	Not Available	0.03% or Rs. 20 per executed order whichever is lower
Currency Options	Not Available	Rs. 20 per executed order
Commodity Futures	Not Available	0.03% or Rs. 20 per executed order whichever is lower
Commodity Options	Not Available	Rs. 20 per executed order
Call & Trade Charges	Rs. 500 per order	Rs. 50 per order

INDmoney Demat Account Charges vs Zerodha 

#1. Account Opening Charges

INDmoney offers a lifetime free demat and trading account opening facility. 

On the other hand, Zerodha charges Rs. 200 for an online trading account opening. However, you need to pay Rs. 100 more to open a commodity trading account with Zerodha. Commodity trading is optional in Zerodha.

	INDmoney	Zerodha
Demat Account Opening Charges	Rs. 0 (Free)	Rs. 0 (Free)
Trading Account Opening Charges (One Time)	Rs. 0 (Free)	Rs 200 (equity only) Rs 300 (with commodity account)

#2. Annual Maintenance Charges (AMC)

INDmoney does not charge for demat AMC while Zerodha charges Rs 300 annually (Rs. 75 quarterly). 

AMC Fee	INDmoney	Zerodha
Demat AMC Fee	Rs. 0 (Free)	Rs. 75 per quarter (Rs. 300 annually)

Winner – INDmoney

INDmoney Vs Zerodha Brokerage Charges

Zerodha offers zero brokerage charges on equity delivery and 0.03% or Rs. 20 per executed order whichever is lower for intraday trading. 

While INDmoney charges a lower of 0.05% or Rs 20 per executed order for equity delivery and intraday trading. However, INDmoney does not trade in currency and commodity segments. 

Segment	INDmoney	Zerodha
Equity Delivery	0.05% or Rs 20 per executed order whichever is lower	0 (Free)
Equity Intraday	0.05% or Rs 20 per executed order whichever is lower	0.03% or Rs. 20 per executed order whichever is lower
Equity Futures	Rs. 20 per executed order	0.03% or Rs. 20 per executed order whichever is lower
Equity Options	Rs. 20 per executed order	Rs. 20 per executed order
Currency Futures	Not Available	0.03% or Rs. 20 per executed order whichever is lower
Currency Options	Not Available	Rs. 20 per executed order
Commodity Futures	Not Available	0.03% or Rs. 20 per executed order whichever is lower
Commodity Options	Not Available	Rs. 20 per executed order

Winner – Zerodha

Zerodha vs INDmoney Other Charges

#1. Call and Trade Charges

 Zerodha charges Rs. 50 per order. Whereas INDmoney charges Rs. 500 per order for Call & Trade charges. 

Zerodha	Rs. 50 per order
INDmoney	Rs. 500 per order

Winner – Zerodha

#2. Mutual Fund and IPO Investment Charges

Both INDmoney and Zerodha offer a lucrative advantage to you by providing zero charges for mutual fund investments through their platforms. 

Additionally, both platforms do not charge any fees for IPO investments, making it easier for you to participate in the IPO.

Winner – Tie

#3. Auto-square Off Charges

Zerodha charges Rs. 50 per auto-squared off for all open intraday positions after the cut-off time. 

In contrast, mStock applies an auto-square off charge of Rs. 50 per position. 

Winner – Tie

#4. Remat Charges

Rematerialization of shares is the process by which you can get your electronic share holdings converted to physical share certificates. 

INDmoney charges Rs. 250 per certificate while Zerodha charges Rs. 150 per certificate + Rs. 100 courier charges for rematerialization of shares. 

INDmoney	Rs. 250 per certificate
Zerodha	Rs. 150 per certificate + Rs. 100 courier charges

#5. Demat Charges

Dematerialization of shares is the process by which you can get your physical share certificates converted to electronic share holdings. 

INDmoney charges Rs. 250 per certificate while Zerdoha charges Rs. 150 per certificate + Rs. 100 courier charges for dematerialization of shares.

INDmoney	Rs. 250 per certificate
Zerodha	Rs. 150 per certificate + Rs. 100 courier charges

#6. Physical CMR Copy Charges

Zerodha provides the first CMR (Client Master Report) copy for free, subsequent requests are charged Rs. 20 + Rs. 100 (courier charge).

On the other hand, INDmoney charges Rs. 300 per request + Rs. 300 as courier chazerdoahrges for physically delivered CMR copy. 

#7. Off Market Share Transfer Charges 

For off-market share transfers, Zerodha levies Rs. 25 or 0.03% of the transfer value, whichever is higher.

Whereas, INDmoney charges Rs. 10 per transaction for off-market share transfers.

#8. Funds Transfer Charges

For deposit through net banking, INDmoney charges Rs. 10, while Zerodha applies a fee of Rs. 9.

However, if you transfer funds through UPI or IMPS, there is no charge levy by both platforms.

#9. Charges for Canceled Orders

For canceled orders, both INDmoney and Zerodha do not charge any fees. 

Cancellation can be due to –

• Canceling orders manually
• Auto-canceled by the system
• The order rejected for the shortage of funds or any reason

#9. GTT Order Charges

Good Till Trigger (GTT) allows you to set certain trigger (price) conditions leading to buying/ selling of shares at a particular price. 

Both stock brokers do not charge any fees for setting up GTT orders. However, you need to pay the brokerage fee when the order is triggered.

#10. BTST Trading Charges

For BTST (Buy Today Sell Tomorrow) trades, both INDmoney and Zerodha do not charge any fees, as these orders fall under the delivery product category.

INDmoney Vs Zerodha Government Taxes and Regulatory Charges

#1. SEBI Charges & GST

Government taxes and regulatory charges are consistent across both INDmoney and Zerodha. They both charge Rs. 10 per crore traded as SEBI charges.

Additionally, the Goods and Services Tax (GST) of 18% is applicable on all charges, including brokerage fees, SEBI charges, and transaction fees. 

SEBI Turnover Tax	00.0001% on turnover (Rs 10 per crore)
GST	18% of brokerage & transaction value

#2. Stamp Duty

Stamp duty charges, which are levied by the state government on the transfer of securities. Stamp duty is charged only on the buy side. 

Stamp Duty is also the same between the two platforms. 

Trading Segment	Charges
Equity Delivery	0.015% or Rs 1500 / crore
Equity Intraday	0.003% or Rs 300 / crore
Equity Futures	0.002% or Rs 200 / crore
Equity Options	0.003% or Rs 300 / crore
Currency Futures	0.0001% or Rs 10 per crore INDmoney – Not Available
Currency Options	0.0001% or Rs 10 per crore INDmoney – Not Available
Commodity Futures	Zerodha – 0.002% or Rs 200 per crore  INDmoney – Not Available
Commodity Options	Zerodha – 0.003% or Rs 300 per crore  INDmoney – Not Available

#3. STT Charges

STT (Securities Transaction Tax) is levied by the government on securities and commodities on all trades executed on the exchange. The charges are as follows:

Trading Segment	STT Charges
Equity Delivery	0.1% on both buy & sell
Equity Intraday	0.025% only on sell
Equity Futures	0.0125% only on sell
Equity Options	0.0625% on sell side (on premium)
Currency F&O	No STT INDmoney – Not Available
Commodity Futures	Zerodha – 0.01% on sell (Non-Agri) INDmoney – Not Available
Commodity Options	Zerodha – 0.05% on sell INDmoney – Not Available

#4. Transaction Charges

Both INDmoney and Zerodha charge the transaction charges for every trade executed on the exchange. The charges are levied by the exchange and vary from one exchange to another. The charges are as follows:

Segment	Transaction Charges
Equity Delivery	NSE – Rs 325 per Cr (0.00325%) BSE – Rs 375 per Cr (0.00375%) (each side)
Equity Intraday	NSE – Rs 325 per Cr (0.00325%) BSE – Rs 375 per Cr (0.00375%) (each side)
Equity Futures	NSE – Rs 190 per Cr (0.0019%)
Equity Options	NSE – Rs 5000 per Cr (0.0500%) (on premium) BSE – 0.0050% (on premium)
Currency Futures	NSE – Rs 90 per Cr (0.0009%)  BSE – Rs 22 per Cr (0.00022%) INDmoney – Not Available
NSE Currency Options	NSE – Rs 3500 per Cr (0.035%)  BSE – Rs 100 per Cr (0.001%) (on premium) INDmoney – Not Available
Commodity Futures	Zerodha – 0.0026% INDmoney – Not Available
Commodity Options	Zerodha – 0.05% INDmoney – Not Available

#5. DP (Depository Participant) Charges 

Both INDmoney & Zerodha apply a DP charge of Rs. 13.5 per scrip for each Demat debit transaction (sell).

There are no charges for Demat credit transactions. This is charged only on selling shares from the demat account.

Conclusion: INDmoney Vs Zerodha 

If you’re looking for a one-stop solution with a variety of investment options, including Indian and US stocks, mutual funds, fixed deposits, and AI-driven advisory services, INDmoney is a better choice. However, keep in mind that INDmoney doesn’t support currency, commodity, and F&O trading.

On the other hand, if you primarily want to trade or invest in Indian stocks and prefer lower brokerage fees, Zerodha is a more cost-effective option. Zerodha offers free equity delivery and charges a maximum Rs. 20 per executed order for intraday trading, currency and commodity. 

FAQs About INDmoney vs Zerodha Charges