Zerodha vs Groww
Zerodha and Groww are two of India's most-used discount brokers. Zerodha charges ₹0 on delivery but has an AMC; Groww charges no AMC but takes brokerage on delivery.
Fees checked on against each broker's official pricing page.
Charges side by side
| Charge | Zerodha | Groww |
|---|---|---|
| Account opening | Free for individual accounts; ₹500 for NRI and corporate accounts. | ₹0. |
| Demat AMC | Free for the first year for resident individual accounts opened on or after 1 June 2026 (primary demat). After that, Basic Services Demat Account (BSDA): free for holdings up to ₹4 lakh, ₹100 per year + GST for ₹4–10 lakh; non-BSDA: ₹300 per year + 18% GST, charged quarterly. | ₹0. |
| Equity delivery | ₹0 (zero brokerage). | ₹20 or 0.1% per executed order, whichever is lower (minimum ₹5). |
| Equity intraday | 0.03% or ₹20 per executed order, whichever is lower. | ₹20 or 0.1% per executed order, whichever is lower (minimum ₹5). |
| Futures | 0.03% or ₹20 per executed order, whichever is lower. | Flat ₹20 per executed order. |
| Options | Flat ₹20 per executed order. | Flat ₹20 per executed order. |
| Commodity | Same pattern as equity: 0.03% or ₹20 for futures, ₹20 flat for options. | — |
| Currency | 0.03% or ₹20 for futures, ₹20 flat for options. | — |
| DP charge (on selling delivery shares) | Once per stock (ISIN) per day. ₹3.50 CDSL + ₹9.50 Zerodha + 18% GST = ₹15.34. Women first holders get a ₹0.25 CDSL discount (₹15.05). Selling the same stock once or several times on one day costs one DP charge. | Every sell order. ₹3.50 depository (₹3.25 for women) + ₹16.50 Groww + 18% GST = ₹23.60 (₹23.31 for women). Groww's own fee is ₹0 when the debit value is below ₹100. Groww says DP is applied per sell order, not per stock: selling the same stock in two orders costs two DP charges. |
| Margin trading (MTF) | Interest 0.04% per day; MTF brokerage 0.3% or ₹20 per order, whichever is lower. | Interest 14.95% per year. |
| Other notable charges | Call & trade: ₹50 per order (also charged for auto square-off). Direct mutual funds on Coin: no commission. A 27 Mar 2026 clarification states an extra ₹20 per F&O order applies only to accounts using collateral margin without at least 50% cash margin when the shortfall exceeds ₹5 lakh. | Auto square-off: ₹50 per position. Direct mutual funds: zero commission. |
Company, regulation & platforms
| Zerodha | Groww | |
|---|---|---|
| Type | Discount broker | Discount broker |
| Legal entity | Zerodha Broking Limited | Groww Invest Tech Private Limited |
| SEBI registration | INZ000031633 | INZ000301838 |
| Mobile app | Kite (Android, iOS) | Groww app (Android, iOS) |
| Web / desktop | Kite web, Console (reports), Coin (mutual funds), Kite Connect API | Groww web |
| Best for | Low-cost long-term investing | Beginners who want a simple app with no AMC |
Key differences
Delivery: Zerodha charges ₹0. Groww charges 0.1% or ₹20 per order, whichever is lower (minimum ₹5). On a ₹50,000 buy, that's ₹0 at Zerodha versus ₹20 at Groww.
AMC: Groww charges ₹0. Zerodha charges ₹300 + GST a year on non-BSDA accounts (BSDA accounts pay less or nothing).
DP charge: Zerodha ₹15.34 once per stock per day, however many sell orders you place. Groww ₹23.60 (₹20 + GST) per sell order, so selling the same stock in two orders costs ₹47.20; Groww's own ₹16.50 part is waived when the debit value is under ₹100.
Intraday: Zerodha 0.03% or ₹20; Groww 0.1% or ₹20. On a ₹10,000 order that's ₹3 versus ₹10.
F&O: both ₹20 per order on options.
Worked example: a small investor
Suppose you make 12 delivery buys of ₹10,000 a year and sell twice. At Zerodha: ₹0 brokerage + about ₹354 AMC (₹300 + GST) + 2 × ₹15.34 DP ≈ ₹385 (or about ₹31 in a first year that qualifies for Zerodha's AMC waiver). At Groww: 12 × ₹10 + 2 × ₹10 brokerage + ₹0 AMC + 2 × ₹23.60 DP ≈ ₹187, assuming each sale is one sell order.
For a larger, more active delivery investor, Zerodha's ₹0 brokerage tends to win.
Worked examples count brokerage only. GST, STT, exchange, SEBI and stamp charges are extra and are broadly the same at both brokers.
Which should you choose?
- Choose Zerodha if you place many or large delivery orders, want advanced tools (Kite, Console) or trade intraday often.
- Choose Groww if you invest small amounts occasionally and want no annual AMC and the simplest app.
Neither is better for everyone. Run your own numbers in the brokerage calculator.
Zerodha
Pros
- ₹0 brokerage on equity delivery
- Clearly published, easy-to-read charges page
- Mature in-house platforms (Kite, Console, Coin)
Cons
- No research calls or advisory
- ₹300/year + GST AMC on non-BSDA accounts
- Call & trade costs ₹50 per order
Groww
Pros
- ₹0 account opening and ₹0 AMC
- Very simple, beginner-friendly app
- Direct mutual funds with zero commission
Cons
- Brokerage on delivery trades (0.1% or ₹20)
- Minimum brokerage of ₹5 per order
- Auto square-off fee of ₹50 per position
Frequently asked questions
Is Zerodha cheaper than Groww?
For delivery brokerage, yes: Zerodha charges ₹0 and Groww 0.1% or ₹20. But Groww has ₹0 AMC while Zerodha charges ₹300 + GST per year on non-BSDA accounts, so small, infrequent investors may pay less at Groww.
Which is better for beginners, Zerodha or Groww?
Groww's app is simpler; Zerodha offers more learning material through Varsity. Both are SEBI-registered.
Sources
- Zerodha – official pricing — accessed 30 September 2026
- Groww – official pricing — accessed 30 September 2026