What are the hidden costs of MTF?
Interest isn’t the whole bill. Brokerage, pledge, unpledge, DP charges and GST add about ₹98 in this example.
A 30-day trade with ₹1,00,000 borrowed
| Interest | ₹1,200 |
|---|---|
| Brokerage, buy and sell | ₹47 |
| Pledge | ₹18 |
| Unpledge | ₹18 |
| DP charge when you sell | ₹15 |
| Total | ₹1,298 |
Fees shown with GST. Zerodha's published rates, checked 2 Nov 2026. The broker funds 75% here; the real share depends on the stock.
What do you pay on top of interest?
Brokerage on the buy and the sell, a pledge fee, an unpledge fee, a DP charge when you sell, GST on those fees, and sometimes a paid plan.
Statutory charges such as STT and stamp duty apply as well, as they do on any delivery trade. They aren’t included in our figures.
Sources: our broker comparison
What does each broker publish?
These are the fixed fees each broker states on its own website. Some leave fees out, and the list is in our usual order, not ranked.
| Broker | Pledge | Unpledge | DP charge on sale | Plan |
|---|---|---|---|---|
| Zerodha | ₹15 + GST | ₹15 + GST | ₹15.34 | None |
| Groww | ₹20 + GST | ₹20 + GST | ₹16.5 + GST | None |
| Dhan | ₹15 + GST | ₹15 + GST | ₹12.5 + GST | None |
| Angel One | ₹20 + GST | ₹20 + GST | ₹20 + GST | None |
| Upstox | ₹20 + GST | ₹20 + GST | ₹20 + GST | None |
| Kotak Neo | ₹20 + GST | ₹20 + GST | Not published | ₹249 a month |
| ICICI Direct | ₹25 + GST | ₹25 + GST | Not published | None |
| Paytm Money | ₹20 + GST | Not published | Not published | None |
| HDFC Sky | ₹20 + GST | Not published | ₹20 + GST | None |
| m.Stock | ₹32 + GST | ₹32 + GST | ₹18 + GST | None |
| Fyers | ₹12 + GST | ₹12 + GST | ₹12.5 + GST | None |
| SBI Securities | ₹20 + GST | ₹20 + GST | Not published | Not published |
| 5paisa | ₹25 + GST | ₹12.5 + GST | ₹12.5 + GST | Not published |
| Motilal Oswal | ₹25 + GST | ₹12.5 + GST | Not published | Not published |
“Not published” means we couldn’t find it on the broker’s pages, not that it is free. Each broker page links to its source and shows when we last checked.
Why can brokerage matter more than the interest rate?
A percentage brokerage grows with the size of the trade and is charged twice, once to buy and once to sell.
A low advertised rate can sit beside a larger brokerage or a paid plan. The all-in rupee figure is the fair comparison, and our calculator gives it for your amount and days.
Sources: our broker comparison
Are there fees if the broker sells your shares?
Often, yes. Many brokers charge for orders they place themselves in a square-off, but not all publish a figure, so check your broker’s charges page.
You also pay the normal charges on the sale, and any loss from the price is yours.