MTF Interest Rates Compared
What 18 Indian brokers charge on the money they lend you under the Margin Trading Facility. Interest runs only on the funded amount, every calendar day the position is open.
Reviewed 10 Sep 2026. Every rate says where it came from — the broker's own page or a published comparison — and when; 5 of 18 brokers are checked entirely against their own pages. Confirm the live rate with your broker before trading.
Cheapest standard rate
9.99%
Lemonn · comparison, 23 Jul 2026
Median standard rate
15.50%
across all 18 brokers
Highest standard rate
19.50%
Motilal Oswal · comparison, 23 Jul 2026
| Broker | Standard rate (a year) | Per day | Lowest published rate |
|---|---|---|---|
| Lemonn | 9.99%comparison, 23 Jul 2026 | 0.0273% | — |
| Rupeezy | 10.99%comparison, 23 Jul 2026 | 0.03% | — |
| HDFC Securities | 12.00%comparison, 23 Jul 2026 | 0.032% | — |
| INDmoney | 14.60%comparison, 23 Jul 2026 | 0.04% | — |
| Zerodha | 14.60%broker site, 10 Sep 2026 | 0.04% | — |
| Groww | 14.95%broker site, 10 Sep 2026 | 0.041% | — |
| Angel OneAdvertises 0% interest for the first 30 days on up to ₹1 lakh funded. | 14.97%broker site, 10 Sep 2026 | 0.041% | — |
| Kotak Securities9.69% needs the Trade Free Pro plan; Kotak's own page gives no rate for other plans. | 14.97%Top of published rangecomparison, 23 Jul 2026 | 0.041% | 9.69%Trade Free Pro planbroker site, 10 Sep 2026 |
| Paytm MoneyPublished as a range; ask the broker which rate applies to you. | 14.99%Top of published rangecomparison, 23 Jul 2026 | 0.041% | 9.75%Bottom of published rangecomparison, 23 Jul 2026 |
| PocketfulPublished as a range; ask the broker which rate applies to you. | 16.00%Top of published rangecomparison, 23 Jul 2026 | 0.044% | 5.99%Bottom of published rangecomparison, 23 Jul 2026 |
| 5paisa | 16.40%comparison, 23 Jul 2026 | 0.045% | — |
| DhanPublished as a range; ask the broker which rate applies to you. | 16.49%Top of published rangecomparison, 23 Jul 2026 | 0.045% | 12.49%Bottom of published rangecomparison, 23 Jul 2026 |
| Fyers | 17.99%comparison, 23 Jul 2026 | 0.0493% | — |
| ICICI DirectThe rate depends on the brokerage plan you pay for. | 17.99%₹999 plan and defaultbroker site, 10 Sep 2026 | 0.0493% | 9.69%₹9,999 planbroker site, 10 Sep 2026 |
| Axis DirectPublished as a range; ask the broker which rate applies to you. | 18.00%Top of published rangecomparison, 23 Jul 2026 | 0.049% | 13.99%Bottom of published rangecomparison, 23 Jul 2026 |
| Sharekhan | 18.00%comparison, 23 Jul 2026 | 0.049% | — |
| UpstoxA flat ₹20 a day per ₹40,000 funded; per ₹50,000 on MTF Plus, up to ₹1 lakh. | 18.25%MTF Basicbroker site, 10 Sep 2026 | 0.05% | 14.60%MTF Plus, first ₹1 lakh fundedbroker site, 10 Sep 2026 |
| Motilal Oswal | 19.50%comparison, 23 Jul 2026 | 0.053% | — |
Standard rate is the highest rate a broker publishes, so it never understates the cost; cheaper plan or slab rates are in the last column, and offers are noted under the name. Sorted cheapest first. Where a source gives only a daily rate, the yearly figure is that rate × 365.
Why one broker shows two rates
The cheapest MTF rates usually sit behind a paid brokerage plan or a large funded amount. ICICI Direct, for example, charges 9.69% a year on its ₹9,999 plan and 17.99% on its default plan. Compare the rate you would actually be on, not the headline.
What a rate costs you
Interest applies to the funded slice only, while gains apply to the whole position, so the stock has to rise well below the headline rate to break even. At 0.04% a day on 4.4x leverage it needs about 11.3% in a year. Work it out for your own trade →
How this table is kept
Every rate carries its source and the date it was checked. A rate read from the broker's own page is marked broker site; one taken from a published comparison is marked comparison and dated to that comparison's own last update. Anything older than 90 days is flagged for re-checking.
Before you use MTF
Losses are leveraged too: in the Reliance example, a flat year costs half your margin in interest alone, and a 20% fall loses more than all of it. Check a broker's square-off policy as well as its rate.
Sources and references
- Zerodha — own MTF page, checked 10 Sep 2026: support.zerodha.com/category/trading-and-markets/margins/margin-trading-facility/articles/interest-calculation-for-mtf
- Groww — own MTF page, checked 10 Sep 2026: groww.in/stocks/mtf
- Angel One — own MTF page, checked 10 Sep 2026: angelone.in/margin-trading-facility
- Upstox — own MTF page, checked 10 Sep 2026: upstox.com/help-center/are-margin-trade-facility-mtf-orders-chargeable-251428/
- ICICI Direct — own MTF page, checked 10 Sep 2026: icicidirect.com/equity-products/margin-trading
- Kotak Securities — own MTF page, checked 10 Sep 2026: kotakneo.com/margin-trading-facility/
- Published broker comparison, checked 23 Jul 2026: rupeezy.in/blog/lowest-mtf-interest-rate-brokers
Disclaimer: For education only — not investment advice, and not a recommendation of any broker. Rates change without notice and vary by plan, funded amount and stock; the broker's own current terms always govern.