Other DPs do not take any charges for interdepository transfer (from 1 DP to other DP in their own account) while zerodha charges 0.03% or Rs. 25/- whichever is higher.
So zerodha also should not charge for this transaction
Of course every DP charges for off market transfer. Check this link for how much Kotak charges, it is 0.04% and minimum Rs 27. Most brokers charge similarly.
Upstox charges a flat fee. See, for example, https://upstox.com/help-center/account-opening/brokerage-and-account-opening-charges/8025-dp-transaction-charges/
Actually, I’m not sure of the exact amount - I’ve seen different amounts quoted in different places. But everywhere it is consistently quoted that Upstox charges a flat fee.
A percentage, unless it is really, really small, is extortionate. Unfortunately the depositories allow up to 0.05% of the value, so of course some people try to take advantage.
I do know that Standard Chartered Securities charges 0.05%. But they are a dodgy outfit, and I do not recommend them to anyone.
Kotak is not a discount broker, so it’s not suprising they charge an excessive amount.
Hey @nithin , Where are the off-market charges posted ? I recently did one off market transaction and I do not see any charges applied in my ledger. Also, do we have to go and pay any fee on CDSL portal or NEFT to them ? There is no clear instruction anywhere. Please help if possible.
It will be posted on the ledger or fund statement. Here is the link
Thanks for the quick response @nithin.
So does it take some n number of days to post to the ledger. I had done off market transaction of 10 LIQUIDBEES on 19th of Oct 2022 and I don’t see any charges applied yet.
@Nakul @ShubhS9 @sunils can we check on this and respond? Ideally, it should have been applied on the same day?
Hi @tanveersureinv, will check this and get back to you. Also, could you please DM me your Client ID?
Thanks to @ShubhS9 @nithin and the Zerodha team for helping me out here. They have gone out of their way here to respond even on a Sunday !. Even after being the largest brokerage house in India, the zeal and enthusiasm is beyond any other broker out there ! Cheers and kudos to you’ll. Thank you once again for all the help and support.
1 Like