Kotak Securities is a full-service broker that offers retail and institutional broking services with higher brokerage fees. You can also avail the benefit of other value-added products including loans, Insurance, NPS, investment advisory, and portfolio management services.
Whereas Zerodha is a discount broker that allows you to trade or invest in stocks only. Zerodha offers discounted brokerage fees because Zerodha does not provide you with stock investment tips, research, or Robo advisory services.
Let’s compare Kotak Securities charges vs Zerodha.
Quick Comparison of Kotak Securities Charges vs. Zerodha
| Particulars | Kotak Securities Charges | Zerodha Charges |
| Account opening charges | Rs. 299 – Trade Free Youth Rs. 99 – Trade Free Plan Rs. 499 – Dealer assisted plan | Rs 200+ Rs 100 for Commodity (optional) |
| Demat AMC Fees | Rs. 600 | Rs. 300 |
| Brokerage Plan | Trade free plan Dealer assisted plan | Single plan |
| Brokerage Charges | Kotak Securities (Trade free plan) | Zerodha Plan |
| Equity Delivery | Rs. 20 per executed order or 0.25% of transaction value whichever is higher with a ceiling of 2.5% | 0 (Free) |
| Equity Intraday | Rs 0 (free) | 0.03% or Rs. 20 per executed order whichever is lower |
| Equity Futures | Delivery – Rs. 20 per executed order Intraday – Free | 0.03% or Rs. 20 per executed order whichever is lower |
| Equity Options | Delivery – Rs. 20 per executed order Intraday – Free | Rs. 20 per executed order |
| Currency Futures | Delivery – Rs. 20 per executed order Intraday – Free | 0.03% or Rs. 20 per executed order whichever is lower |
| Currency Options | Delivery – Rs. 20 per executed order Intraday – Free | Rs. 20 per executed order |
| Commodity Futures | Delivery – Rs. 20 per executed order Intraday – Free | 0.03% or Rs. 20 per executed order whichever is lower |
| Commodity Options | Delivery – Rs. 20 per executed order Intraday – Free | Rs. 20 per executed order |
| Call & Trade Charges | First 20 calls free After that, Rs. 15-20 per order | Rs. 50 per order |
Kotak Securities Demat Account Charges vs Zerodha
#1. Account Opening Charges
Both Kotak Securities and Zerodha offer a free Demat account facility.
Kotak securities charge different ranges from Rs. 99 to Rs. 499 according to your selected brokerage plan for trading accounts.
On the other hand, Zerodha charges Rs. 200 for an online account opening. However, you need to pay Rs. 100 more to open a commodity trading account with Zerodha. Commodity trading is optional in Zerodha.
| Kotak Securities | Zerodha | |
| Demat Account Opening Charges | Rs. 0 (Free) | Rs. 0 (Free) |
| Trading Account Opening Charges (One Time) | Rs. 299 – Trade Free Youth Rs. 99 – Trade Free Plan Rs. 499 – Dealer assisted plan | Rs 200 (equity only) Rs 300 (with commodity account) |
If you want to open your account offline, Zerodha charges Rs. 400 for an equity trading and Demat account, and Rs. 200 for a commodity trading account. However, Kotak provides the option to open an offline account for free.
Winner – Zerodha
#2. Annual Maintenance Charges (AMC)
Zerodha charges Rs 300 annually (Rs. 75 quarterly) for demat account AMC charges, on the other hand, Kotak Securities charges Rs 600 per annum.
| AMC Fee | Kotak Securities | Zerodha |
| Trading AMC Fee | Zero | Zero |
| Demat AMC Fee | For BSDA ClientsHolding <50K = No AMCHolding >50K & <2 lakh = Rs. 100 AMC For Non-BSDA ClientsHolding <10K = No AMCHolding >10K = Rs. 50 per month (Rs. 600 yearly) | Rs. 75 per quarter (Rs. 300 annually) |
Winner – Zerodha
Kotak Securities Vs Zerodha Brokerage Charges
Zerodha has only one plan that offers zero brokerage charges on equity delivery and 0.03% or Rs. 20 per executed order whichever is lower for intraday trading.
Whereas Kotak Securities offers three plans with different brokerage rates.
- Trade Free Brokerage Plan
- Trade Free Youth Plan
- Dealer-Assisted Brokerage Plan
Let’s discuss the brokerage comparison between Kotak Securities and Zerodha based on different brokerage plans.
#1. Kotak Securities (Trade Free Brokerage Plan) Vs Zerodha (Flat Brokerage Plan)
Kotak Securities offers a trade free brokerage plan for individuals above 30 years of age. Under this plan, Kotak securities charge 0.25% for delivery trades, while intraday trades incur zero brokerage charges.
On the other hand, Zerodha offers a single brokerage plan, charges Rs 0 for equity trades and Rs 20 per executed order or 0.03% (whichever is lower) for intraday trades.
| Segment | Kotak Securities(Trade Free Brokerage Plan) | Zerodha(Flat Brokerage Plan) |
| Equity Delivery | Rs. 20 per executed order or 0.25% of transaction value whichever is higher with a ceiling of 2.5% | 0 (Free) |
| Equity Intraday | Rs 0 (free) | 0.03% or Rs. 20 per executed order whichever is lower |
| Equity Futures | Delivery – Rs. 20 per executed order Intraday – Free | 0.03% or Rs. 20 per executed order whichever is lower |
| Equity Options | Delivery – Rs. 20 per executed order Intraday – Free | Rs. 20 per executed order |
| Currency Futures | Delivery – Rs. 20 per executed order Intraday – Free | 0.03% or Rs. 20 per executed order whichever is lower |
| Currency Options | Delivery – Rs. 20 per executed order Intraday – Free | Rs. 20 per executed order |
| Commodity Futures | Delivery – Rs. 20 per executed order Intraday – Free | 0.03% or Rs. 20 per executed order whichever is lower |
| Commodity Options | Delivery – Rs. 20 per executed order Intraday – Free | Rs. 20 per executed order |
#2. Trade Free Youth
For Youngsters, Kotak Securities offers a trade-free youth brokerage plan for those who are below 30 years of age. Under this plan, Kotak Securities does not charge any brokerage fees for all trades.
| Segment | Brokerage Charges Under Trade Free Youth Plan |
| Equity, Currency, Commodity, Delivery, Intraday, F&O | Rs. 0 Brokerage for all trades |
#3. Kotak Securities Dealer Assisted Brokerage Plan
Under the dealer-assisted plan, Kotak Securities charges brokerage of as high as 0.39% per trade for delivery trades. On the other hand, Zerodha charges lowest brokerage charges for all intraday trading of Rs. 20 per executed order.
| Segment | Kotak Securities Dealer Assisted Brokerage Plan | Zerodha(Flat Brokerage Plan) |
| Equity Delivery | 0.39% of transaction value | 0 (Free) |
| Equity Intraday | 0.039% of transaction value | 0.03% or Rs. 20 per executed order whichever is lower |
| Equity Futures | 0.39% of transaction value | 0.03% or Rs. 20 per executed order whichever is lower |
| Equity Options | Rs. 39 per Lot | Rs. 20 per executed order |
| Currency Futures | Rs. 9 per Lot | 0.03% or Rs. 20 per executed order whichever is lower |
| Currency Options | Rs. 5 per Lot | Rs. 20 per executed order |
| Commodity Futures | 0.39% of transaction value | 0.03% or Rs. 20 per executed order whichever is lower |
| Commodity Options | Rs. 39 per Lot | Rs. 20 per executed order |
Winner – Zerodha
Zerodha vs Kotak Securities Other Charges
#1. Call and Trade Charges
Kotak Securities offers you free first 20 calls. After that you have to pay Rs 15-20 per order as Call & Trade fee. Whereas Zerodha charges Rs. 50 per order.
| Zerodha | Rs. 50 per order |
| Kotak Securities | First 20 calls free After that, Rs. 15-20 per order |
Winner – Kotak Securities
#2. Mutual Fund and IPO Investment Charges
Both Kotak Securities 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, Kotak Securities applies a charge of Rs. 49 under the trade-free youth plan, and Rs. 90 (20 buy + 20 sell + 50 for service) for the trade-free plan and dealer-assisted plan.
Winner – Zerodha
#4. Pledge Creation/Confirmation/Invocation Charges
You can use the margin against Demat holdings for trading futures & options only. Zerodha charges Rs 30 per scrip on pledging creation whereas Kotak Securities charges Rs. 20 per ISIN.
| Zerodha | Kotak Securities | |
| Pledge Creation | Rs 30 per scrip | Rs 20 per ISIN |
| Pledge Creation Confirmation | Rs 0 | Rs 20 per ISIN |
| Pledge Invocation | Rs 20 | Rs 20 per ISIN |
Winner – Zerodha
#5. Margin Shortfall Penalty
Kotak Securities implements a fee of 0.049% in cases of margin shortfall.
On the other hand, Zerodha charges the penalty on the debit balance in the trading account.
| Shortfall collection | Penalty |
| (< Rs 1 lakh) and (< 10% of applicable margin) | 0.50% |
| (>= Rs 1 lakh) or (>= 10% of applicable margin) | 1% |
A penalty of 5% will be applicable for
- Every further instance of the shortfall is applicable, If there are more than 5 instances of a shortfall in a calendar month.
- Each subsequent instance of the margin shortfall, If the margin shortfall continues for more than 3 consecutive days.
- For MCX, from the 4th instance of the shortfall, if the margin shortfall is reported 3 times or more during a month.
Winner – Kotak Securities
#6. CMR Copy Charges
You get the first Zerodha CMR (Client Master Report) copy for free, subsequent requests are charged Rs. 20 + Rs. 100 (courier charge).
On the other hand, Kotak Securities provides free CMR copy to its customers.
#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, Kotak Securities does not charge for off-market share transfers.
#8. Funds Transfer Charges
For deposit through net banking, Kotak Securities levies Rs. 7, 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 Kotak Securities 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 Kotak Securities and Zerodha do not charge any fees, as these orders fall under the delivery product category.
Kotak Securities Vs Zerodha Government Taxes and Regulatory Charges
#1. SEBI Charges & GST
Government taxes and regulatory charges are consistent across both Kotak Securities 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 |
| Currency Options | 0.0001% or Rs 10 per crore |
| Commodity Futures | 0.002% or Rs 200 per crore |
| Commodity Options | 0.003% or Rs 300 per crore |
#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 | Zerodha Charges | Kotak Securities Charges |
| Equity Delivery | 0.1% on both buy & sell | 0.1% on both buy & sell |
| Equity Intraday | 0.025% only on sell | 0.025% only on sell |
| Equity Futures | 0.0125% only on sell | 0.01% only on sell |
| Equity Options | 0.0625% on sell side (on premium) | 0.05% on sell side (on premium) 0.125% on settlement value |
| Currency F&O | No STT | No STT |
| Commodity Futures | 0.01% on sell (Non-Agri) | 0.01% on sell (Non-Agri) |
| Commodity Options | 0.05% on sell | 0.05% on sell |
#4. Transaction Charges
Both Kotak Securities 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 | Zerodha Charges | Kotak Securities Charges |
| Equity Delivery | NSE – Rs 325 per Cr (0.00325%) BSE – Rs 375 per Cr (0.00375%) (each side) | NSE – 0.00335% BSE – 0.00375% |
| Equity Intraday | NSE – Rs 325 per Cr (0.00325%) BSE – Rs 375 per Cr (0.00375%) (each side) | NSE – 0.00325% BSE – 0.00375% |
| Equity Futures | NSE – Rs 190 per Cr (0.0019%) | NSE – 0.002% |
| Equity Options | NSE – Rs 5000 per Cr (0.0500%) (on premium) | NSE – 0.0505% on Premium |
| Currency Futures | NSE – Rs 90 per Cr (0.0009%) BSE – Rs 22 per Cr (0.00022%) | NSE – 0.00095% BSE – 0.00022% |
| NSE Currency Options | NSE – Rs 3500 per Cr (0.035%) BSE – Rs 100 per Cr (0.001%) (on premium) | NSE – 0.037% BSE – 0.001% |
| Commodity Futures | 0.0026% | MCX (for Agri & Non Agri) – 0.0026% NCDEX – 0.006% |
| Commodity Options | 0.05% | MCX – 0.05% NCDEX – 0 |
#5. DP Charges
For each Demat debit transaction (sell), Zerodha applies a DP charge of Rs. 13.5 per scrip, whereas Kotak Securities imposes a DP charge of 0.04% + NSDL charges (minimum Rs 20).
There are no charges for Demat credit transactions. This is charged only on selling shares from the demat account.
Conclusion: Kotak Securities Vs Zerodha
Zerodha is the best option for retail investors with a single brokerage plan and low account opening & AMC charges. Zerodha offers free equity delivery and charges a maximum Rs. 20 per executed order for intraday trading, currency and commodity.
Kotak Securities is a great choice for you as Kotak Securities does not charge any brokerage on intraday trading for all segments under trade free plan. However, for equity delivery, you need to pay Rs. 20 per executed order or 0.25% of transaction value whichever is higher with a ceiling of 2.5%.
FAQs About Kotak Securities Charges vs Zerodha
Zerodha charges Rs. 13.5 per scrip for Demat debit transactions. Kotak Securities imposes a DP charge of 0.04% + NSDL charges (minimum Rs. 20) for such transactions. No charges apply for Demat credit transactions.
Both platforms charge Rs. 10 per crore traded as SEBI charges, and a GST of 18% is applicable on all charges, including brokerage fees, SEBI charges, and transaction fees.
No, both Kotak Securities and Zerodha do not charge any fees for BTST trades.
No, both platforms do not charge any fees for setting up GTT (Good Till Trigger) orders.
No, both Kotak Securities and Zerodha do not charge any fees for canceled orders.
Kotak Securities charges Rs. 7 for funds transfer through net banking, while Zerodha charges Rs. 9. No charges are applicable for funds transfer through UPI or IMPS on both platforms.
Kotak Securities provides the first 20 calls free, after which it charges Rs. 15-20 per order. Zerodha charges Rs. 50 per order for call and trade.
Zerodha offers zero brokerage for equity delivery and charges 0.03% or Rs. 20 per executed order for intraday trading.
Kotak Securities charges vary based on plans: Trade Free Plan offers Rs. 20 per executed order or 0.25% of transaction value (with a ceiling of 2.5%) for equity delivery, and zero brokerage for equity intraday.
Kotak Securities charges Rs. 600 per annum for demat account AMC, while Zerodha charges Rs. 300 per annum.
Kotak Securities charges range from Rs. 299 to Rs. 499 based on the selected brokerage plan. Zerodha charges Rs. 200 for an online account opening, with an additional Rs. 100 for a commodity trading account (optional).
