Which broker has the lowest MTF interest rate?

Rates on this page start around 9.65% a year and run past 24%. Because several brokers quote a range or a slab that varies with the funded amount, the table ranks on the headline or lower-bound rate and lists brokers with only a promotional rate last.

Is a lower MTF interest rate always better?

Not on its own. Interest is charged for every calendar day you hold, so on short holds the difference between two rates is small next to brokerage and pledge charges. On multi-month positions the rate dominates.

What other charges apply besides MTF interest?

Brokerage on both legs, pledge and unpledge charges per scrip, STT, exchange transaction charges, the SEBI turnover fee, stamp duty and GST on the service charges.

Brokers

Compare MTF brokers in India

Interest rates, leverage, eligible-stock counts and charges for the top brokers offering Margin Trading Facility. Rates are typical/headline figures and vary by plan, portfolio size and holding tenure - always confirm the current rate on the brokers site before trading.

By IndiaMTF Team · Last reviewed: August 2026 · How we source and check this data

Based on publicly available information - for actual details, please visit respective brokers website.

ICICI Direct

Backed by ICICI Bank; widest eligible-stock list among full-service brokers

MTF interest rate9.65% – 17.99% p.a.

Max leverageUp to 4x

Eligible stocks (approx.)1,400+

Brokerage0.05% – 0.55%

Holding periodFlexible

Visit ICICI Direct →

Kotak Neo

Among the lowest entry rates; flexible plans

MTF interest rate9.69% – 17.99% p.a.

Max leverageUp to 5x

Eligible stocks (approx.)1,300+

Brokerage₹0 – ₹20/order

Holding periodNo fixed limit

Visit Kotak Neo →

m.Stock (Mirae Asset)

Slab-based: lower rate for larger funded amounts; backed by Mirae Asset

MTF interest rate~10% – 15% p.a. (slab-based)

Max leverageUp to 4x

Eligible stocks (approx.)900+

BrokerageFlat-fee plans available

Holding periodFlexible

Visit m.Stock →

Lemonn

Newer discount broker with competitive MTF pricing

MTF interest rate~10.95% p.a. (0.0273%/day)

Max leverageUp to 4x

Eligible stocks (approx.)700+

BrokerageLow-cost / discount

Holding periodFlexible

Visit Lemonn →

Rupeezy

Newer discount broker positioning on low MTF rates

MTF interest rate~10.95% p.a. (0.03%/day)

Max leverageUp to 4x

Eligible stocks (approx.)700+

Brokerage₹20/order

Holding periodFlexible

Visit Rupeezy →

Bajaj Broking

Backed by Bajaj Finserv; growing MTF eligible-stock list

MTF interest rateFrom 11.99% p.a. (plan-based)

Max leverageUp to 4x

Eligible stocks (approx.)900+

Brokerage₹20/order

Holding periodFlexible

Visit Bajaj Broking →

HDFC Securities

Backed by HDFC Bank; research-backed recommendations

MTF interest rate~12% p.a. (0.0329%/day)

Max leverageUp to 4x

Eligible stocks (approx.)900+

Brokerage0.10% – 0.50%

Holding periodFlexible

Visit HDFC Securities →

Paytm Money

Newer entrant; launched MTF ("Pay Later") with introductory pricing

MTF interest rate~12% p.a. (introductory; standard rates may apply)

Max leverageUp to 4x

Eligible stocks (approx.)~1,000

Brokerage₹20/order

Holding periodFlexible

Visit Paytm Money →

Dhan

Slab pricing from 12.49% p.a. for funded amounts up to ₹5 lakh; widest eligible-stock list

MTF interest rate~12.49% p.a. (slab-based)

Max leverageUp to 4x, up to ₹5 Cr

Eligible stocks (approx.)1,700+

Brokerage₹0 – ₹20/order

Holding periodFlexible

Visit Dhan →

AliceBlue

Discount broker popular with algo and API traders

MTF interest rate~14-16% p.a.

Max leverageUp to 4x

Eligible stocks (approx.)700+

Brokerage₹15 – ₹20/order

Holding periodFlexible

Visit AliceBlue →

Fyers

Popular with active traders for charting and API tools

MTF interest rate~14.6% – 18% p.a.

Max leverageUp to 4x

Eligible stocks (approx.)800+

Brokerage₹20/order

Holding periodFlexible

Visit Fyers →

SBI Securities

Backed by India's largest bank; interest applies after 23rd trading day on some plans

MTF interest rate~14.6% p.a. (0.04%/day)

Max leverageUp to 4x

Eligible stocks (approx.)900+

Brokerage0.10% – 0.50%

Holding periodFlexible

Visit SBI Securities →

Zerodha

India's largest broker by revenue and profit; flat, transparent rate

MTF interest rate~14.6% p.a. (0.04%/day)

Max leverageUp to 5x (select stocks)

Eligible stocks (approx.)900+

Brokerage₹20 or 0.03%/order

Holding periodNo fixed limit

Visit Zerodha →

Groww

India's largest broker by active clients (overtook Zerodha in 2023)

MTF interest rate~14.95% p.a. (0.041%/day)

Max leverageUp to 4x

Eligible stocks (approx.)900+

Brokerage₹20/order

Holding periodNo fixed limit

Visit Groww →

Angel One

Slab-based pricing, rate depends on funded amount

MTF interest rate~14.99% p.a. (slab-based)

Max leverageUp to 4x

Eligible stocks (approx.)1,000+

Brokerage₹20/order

Holding periodFlexible

Visit Angel One →

IIFL Securities

Full-service broker with research and advisory desk

MTF interest rate~15% – 18% p.a.

Max leverageUp to 4x

Eligible stocks (approx.)900+

Brokerage0.05% – 0.50%

Holding periodFlexible

Visit IIFL Securities →

Motilal Oswal

Long holding window; research-backed picks

MTF interest rate~0.041%/day (~15% p.a.)

Max leverageUp to 4x

Eligible stocks (approx.)900+

Brokerage0.10% – 0.30%

Holding period365+ days

Visit Motilal Oswal →

5paisa

App-first, fully digital pledge and funding flow

MTF interest rate~18% p.a. (0.05%/day)

Max leverageUp to 4x

Eligible stocks (approx.)700+

Brokerage₹20/order

Holding periodFlexible

Visit 5paisa →

Axis Direct

Backed by Axis Bank; 3-in-1 account integration

MTF interest rate18% p.a. (eMargin)

Max leverageUp to 4x

Eligible stocks (approx.)900+

Brokerage0.10% – 0.50%

Holding periodFlexible

Visit Axis Direct →

Sharekhan

Backed by Mirae Asset; full-service research-led broker

MTF interest rate~18% p.a. (0.0493%/day)

Max leverageUp to 4x

Eligible stocks (approx.)900+

Brokerage0.10% – 0.50%

Holding periodFlexible

Visit Sharekhan →

Upstox

Slab model: ~₹20/day per ₹40,000 borrowed

MTF interest rate~20.86% p.a. (slab-based)

Max leverageUp to 4x

Eligible stocks (approx.)800+

Brokerage₹20/order

Holding periodFlexible

Visit Upstox →

Edelweiss / Nuvama

Full-service broker with wealth-management focus

MTF interest rate~24% – 30% p.a.

Max leverageUp to 4x

Eligible stocks (approx.)800+

Brokerage0.10% – 0.50%

Holding periodFlexible

Visit Edelweiss / Nuvama →

Choice Broking

Full-service broker with growing digital platform

MTF interest rateContact broker (not published)

Max leverageUp to 4x

Eligible stocks (approx.)700+

Brokerage0.05% – 0.50%

Holding periodFlexible

Visit Choice Broking →

HDFC Sky

Backed by HDFC Securities; introductory zero-interest window

MTF interest rate0% for first 30 days, then competitive

Max leverageUp to 4x

Eligible stocks (approx.)900+

Brokerage₹20/order

Holding periodFlexible

Visit HDFC Sky →

Interest rates and terms compiled from publicly available broker sources; eligible-stock counts are rounded approximations and every broker revises its list periodically. Last reviewed August 2026. Rates change frequently — always confirm the current rate on the broker’s own site before trading.

Side-by-side comparison

Sorted by lowest headline interest rate — the lower bound where a broker quotes a range. Brokers that publish only a promotional rate or no rate at all are listed last, since they cannot be compared. Click a header to re-sort.

Broker	MTF interest rate	Max leverage	Eligible stocks (approx.)	Brokerage	Holding period
IDICICI Direct	9.65% – 17.99% p.a.	Up to 4x	1,400+	0.05% – 0.55%	Flexible
KNKotak Neo	9.69% – 17.99% p.a.	Up to 5x	1,300+	₹0 – ₹20/order	No fixed limit
MSm.Stock (Mirae Asset)	~10% – 15% p.a. (slab-based)	Up to 4x	900+	Flat-fee plans available	Flexible
LELemonn	~10.95% p.a. (0.0273%/day)	Up to 4x	700+	Low-cost / discount	Flexible
RURupeezy	~10.95% p.a. (0.03%/day)	Up to 4x	700+	₹20/order	Flexible
BBBajaj Broking	From 11.99% p.a.	Up to 4x	900+	₹20/order	Flexible
HDHDFC Securities	~12% p.a. (0.0329%/day)	Up to 4x	900+	0.10% – 0.50%	Flexible
PMPaytm Money	~12% p.a. (introductory; standard rates may apply)	Up to 4x	~1,000	₹20/order	Flexible
DHDhan	~12.49% p.a. (slab-based)	Up to 4x, up to ₹5 Cr	1,700+	₹0 – ₹20/order	Flexible
ALAliceBlue	~14-16% p.a.	Up to 4x	700+	₹15 – ₹20/order	Flexible
FYFyers	~14.6% – 18% p.a.	Up to 4x	800+	₹20/order	Flexible
SSSBI Securities	~14.6% p.a. (0.04%/day)	Up to 4x	900+	0.10% – 0.50%	Flexible
ZEZerodha	~14.6% p.a. (0.04%/day)	Up to 5x (select stocks)	900+	₹20 or 0.03%/order	No fixed limit
GRGroww	~14.95% p.a. (0.041%/day)	Up to 4x	900+	₹20/order	No fixed limit
AOAngel One	~14.99% p.a. (slab-based)	Up to 4x	1,000+	₹20/order	Flexible
ISIIFL Securities	~15% – 18% p.a.	Up to 4x	900+	0.05% – 0.50%	Flexible
MOMotilal Oswal	~15% p.a. (0.041%/day)	Up to 4x	900+	0.10% – 0.30%	365+ days
5P5paisa	~18% p.a. (0.05%/day)	Up to 4x	700+	₹20/order	Flexible
ADAxis Direct	18% p.a. (eMargin)	Up to 4x	900+	0.10% – 0.50%	Flexible
SHSharekhan	~18% p.a. (0.0493%/day)	Up to 4x	900+	0.10% – 0.50%	Flexible
UPUpstox	~20.86% p.a. (slab-based)	Up to 4x	800+	₹20/order	Flexible
ENEdelweiss / Nuvama	~24% – 30% p.a.	Up to 4x	800+	0.10% – 0.50%	Flexible
CBChoice Broking	Contact broker	Up to 4x	700+	0.05% – 0.50%	Flexible
HSHDFC Sky	0% for first 30 days, then competitive	Up to 4x	900+	₹20/order	Flexible

Disclaimer. Data sourced from daily margin trading disclosure provided by NSE and BSE. This website and page are meant for educational and information only — not investment advice. MTF is leveraged and can amplify losses. Rules, margins, rates and eligible-stock lists change; verify current details with your broker and SEBI/exchange circulars. IndiaMTF.com is not a SEBI-registered intermediary, broker, or investment adviser and has no affiliation with SEBI, NSE or BSE. Figures are reproduced from publicly disclosed exchange data, may be delayed or revised, and should be independently verified before any trading decision. Consult a SEBI-registered investment adviser before investing.