Most discount brokers advertise "Free Demat Account" but charge multiple small fees. Here is the complete 2026 breakdown.
1. Account Opening Fees
Rs.0 to Rs.500. Discount brokers free. Full-service Rs.500-975.
2. Annual Maintenance Charge (AMC)
- Zerodha: Rs.300/year + GST (after 1st free year)
- Upstox: Rs.150/year
- Groww: Rs.0
- Angel One: Rs.20/month from year 2
- ICICI Direct: Rs.700/year
3. Brokerage Per Trade
- Equity Delivery: Rs.0 (discount brokers)
- Intraday: 0.03-0.05% or Rs.20 flat
- F&O: Rs.20 flat per order
4. DP Charges
Charged by CDSL/NSDL on sell:
- Zerodha: Rs.13.5 + GST per sell script per day
- Upstox: Rs.18.5 + GST
- Groww: Rs.13.5 + GST
5. Securities Transaction Tax (STT)
- Delivery: 0.1%
- Intraday sell: 0.025%
- F&O options sell: 0.0625%
6. Exchange, SEBI, Stamp Duty, GST
Small percentages. Stamp duty 0.015% delivery. GST 18% on brokerage.
Hidden Charges
- Call & Trade: Rs.50/call
- Auto Square-off: Rs.50
- Physical statement: Rs.50-100
- Pledge: Rs.30 per script
Total Cost Example - Rs.50,000 Trade
- Brokerage: Rs.0
- STT: Rs.50
- Others: ~Rs.10
- Total: ~Rs.60 (0.12%)
Minimize Charges
- Discount brokers
- One account only
- Avoid Call & Trade
- Square off yourself
Read our Demat opening guide.
