INDmoneySEBI INZ000305337
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- No
- Delivery brokerage
- ₹20 or 0.1%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹39.53Brokerage and DP with GST, ours
SahiSEBI INZ000317632
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Not stated
- Delivery brokerage
- ₹10 or 0.05%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹24.78Brokerage and DP with GST, ours
Where INDmoney and Sahi differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | INDmoney | Sahi |
|---|---|---|
| One mainboard lot, ₹15,000₹14.75 less at Sahi | ₹39.53 | ₹24.78 |
| Two SME lots, ₹2,50,000₹17.70 less at Sahi | ₹45.43 | ₹27.73 |
| A year: 12 mainboard lots sold₹177.00 less at Sahi | ₹474.36 | ₹297.36 |
Ours: brokerage and DP charge with 18% GST. STT and exchange charges are equal everywhere, so they are left out. SME bids are two lots.
- Equity delivery brokerage: 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 at INDmoney, ₹10 or 0.05% per order, whichever is lower at Sahi.
- DP charge on selling shares: ₹18.50 plus GST per ISIN at INDmoney, ₹13.50 per company at Sahi.
- SME IPOs: Not yet. INDmoney says it does not currently support SME IPOs at INDmoney, not stated at Sahi.
The same at both: account opening, Demat maintenance (AMC) and Mainboard IPOs.
INDmoney vs Sahi: charges side by side
Differs 4 of 7 charges differ between INDmoney and Sahi. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | INDmoney | Sahi |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | Free |
| Demat maintenance (AMC) | ₹0 | Free |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | Yes, free |
| SME IPOs | Not yet. INDmoney says it does not currently support SME IPOs | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 | ₹10 or 0.05% per order, whichever is lower |
| DP charge on selling shares | ₹18.50 plus GST per ISIN (₹3.50 CDSL and ₹15 INDstocks; ₹3.25 and ₹15.25 for women) | ₹13.50 per company (GST not stated; we add 18% in our calculation) |
| Registration | ||
| SEBI registration | INZ000305337 | INZ000317632 |
For other trading, equity intraday, Futures and Call and trade differ too. Intraday, futures, call and trade and margin charges are on the INDmoney and Sahi pages.
INDmoney and Sahi strengths and things worth checking
INDmoney
Strengths
- ₹0 AMC and account opening
- Low minimum brokerage
Worth checking
- Desk orders are expensive
₹500 per order through the trading desk.
- DP charge
₹18.50 plus GST per sale.
- No SME IPOs yet
INDmoney says SME IPO applications are not supported at the moment.
Sahi
Strengths
- ₹10 cap
- ₹0 AMC and account opening
- IPOs free
Worth checking
- Newer broker
Registered with SEBI in 2024.
- DP charge
₹13.50 per sale.
Brokerage calculator: INDmoney vs Sahi
| Charge | INDmoney | Sahi |
|---|
Ours, with NSE rates. Change the trade to see what INDmoney and Sahi would each charge.
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Every comparison with INDmoney or Sahi, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, INDmoney or Sahi?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹24.78 in broker charges at Sahi and ₹39.53 at INDmoney (our calculation). For two SME lots worth ₹2,50,000: INDmoney ₹45.43, Sahi ₹27.73 (our calculation, brokerage and DP charge with GST).
How much would the difference between INDmoney and Sahi be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Sahi costs ₹177.00 less in broker charges (our calculation). Add the yearly AMC: INDmoney: ₹0; Sahi: Free.
Can I apply for SME IPOs on INDmoney and Sahi?
Neither says clearly on its pages that SME IPOs can be applied for.
What brokerage do INDmoney and Sahi charge when I sell IPO shares?
Selling allotted shares is a delivery trade. On a ₹15,000 sale the brokerage with GST is ₹17.70 at INDmoney and ₹8.85 at Sahi (our calculation from their published rates).
What DP charge do INDmoney and Sahi take when I sell IPO shares?
For one sale of ₹15,000, with GST: ₹21.83 at INDmoney; ₹15.93 at Sahi (our calculation). It is charged on each sale from your demat account.