Motilal Oswal’s charge structure reflects its position as a full-service broker that has adopted competitive pricing on account maintenance and opening — while maintaining a plan-based brokerage structure that differs from the standardised flat-fee model of pure discount brokers. The AMC at ₹300 per year (from Year 2) matches Zerodha exactly — a remarkable positioning for a broker that also provides institutional-quality research across 260+ companies. Understanding every charge component helps investors calculate the true cost of their investing activity accurately.
Account Opening and Closure Charges
Account opening for both the trading and demat accounts is completely free — ₹0 one-time charge. There is no promotional time limit on this; it is the standard pricing.
Account closure: ₹100 per account closure request.
Account reactivation (dormant account): ₹50 per reactivation.
Annual Maintenance Charge (AMC)
Demat AMC is free for Year 1. From Year 2 onwards, ₹300 per year. This ₹300/year AMC is identical to Zerodha’s AMC and significantly lower than ICICI Direct’s standard plan (₹500/year demat AMC + ₹975 trading AMC) and HDFC Securities (₹750/year). It is one of the most cost-effective AMC structures available from a full-service broker.
For BSDA (Basic Services Demat Account) holders: zero AMC for holdings up to ₹50,000. ₹100/year for holdings between ₹50,001 and ₹2,00,000. Standard AMC above ₹2,00,000.
Brokerage Charges
Motilal Oswal offers three brokerage plans:
Basic Plan: The default entry plan for new investors. Brokerage is percentage-based — equity delivery at 0.50%, intraday at 0.05%, futures at 0.05%, and options at ₹50 per lot. Suitable for very infrequent traders.
Margin Plan: For traders using Motilal Oswal’s margin scheme — brokerage reduces as trading volume increases. Works on a tiered percentage model with improved rates at higher monthly turnover.
Fixed Brokerage Plan: A flat-rate plan available for investors who prefer predictable per-order charges. Investors interested in flat brokerage pricing should request plan details at the time of account opening or contact Motilal Oswal customer care, as plan configurations have evolved and current rates should be verified directly.
DP Charges (Depository Participant Charges on Selling)
The DP charge when selling shares from your Motilal Oswal demat account is ₹25 per scrip per sell transaction — a flat charge regardless of the quantity or value of securities sold. This is higher than Zerodha’s ₹15.34 flat but lower than several full-service broker DP charges.
Alternatively, the DP transaction charge model cited across some sources is 0.025% of transaction value with a minimum of ₹30 per ISIN — the applicable model may vary based on account type and instruction method. Confirm the current DP tariff at motilaloswal.com or with your account relationship manager.
Other Notable Charges
Dematerialisation: ₹50 per certificate. Pledge creation: ₹35 or 0.02% of value (whichever is higher). Call and Trade: no additional brokerage charge for phone-executed orders at Motilal Oswal — a rare advantage over many brokers who charge ₹20 to ₹90 per phone-placed trade. Margin Trading Facility interest: 0.028% per day.
Statutory Charges — Applied Uniformly Across All Brokers
| Charge | Rate |
| STT — Equity Delivery | 0.1% on buy + sell |
| STT — Intraday Sell | 0.025% |
| GST on Brokerage/Charges | 18% |
| Stamp Duty — Buy Side | 0.015% (delivery); 0.003% (intraday) |
| SEBI Charges | ₹10 per crore traded |
Overview Table: Motilal Oswal Charges Summary
| Charge | Amount / Rate |
| Account Opening | ₹0 |
| Demat AMC (Year 1) | ₹0 |
| Demat AMC (Year 2+) | ₹300/year |
| BSDA AMC (<₹50K) | ₹0 |
| Account Closure | ₹100 |
| Account Reactivation | ₹50 |
| Equity Delivery (Basic Plan) | 0.50% |
| Intraday (Basic Plan) | 0.05% |
| Options (Basic Plan) | ₹50 per lot |
| DP Charge (Sell) | ₹25 per scrip |
| Pledge Creation | ₹35 or 0.02% |
| Dematerialisation | ₹50 per certificate |
| Call & Trade | No extra charge |
| MTF Interest | 0.028%/day |
Frequently Asked Questions (FAQs)
Q1. What is the Motilal Oswal demat AMC?
A: Free for Year 1. ₹300/year from Year 2 — identical to Zerodha’s AMC and among the lowest in the full-service broker segment.
Q2. Does Motilal Oswal charge for Call and Trade orders?
A: No — Motilal Oswal does not levy an additional charge for phone-executed orders, unlike most competitors who charge ₹20 to ₹90 per call-executed trade.
Q3. What is the DP charge at Motilal Oswal?
A: ₹25 per scrip per sell transaction — flat charge regardless of quantity or value sold.
Q4. Does Motilal Oswal have a flat brokerage plan?
A: Yes — a Fixed Brokerage Plan is available. Contact Motilal Oswal directly for current plan rates, as these have been revised periodically.
Q5. What is the account closure charge at Motilal Oswal?
A: ₹100 per account closure. Account reactivation for dormant accounts: ₹50.
