Launch · Financial Services

Zerodha launches fixed deposits on Coin platform

By Startup Enthusiast · 9 April 2026

What they do

Zerodha is a discount stockbroker offering stocks, mutual funds, and bonds

It launched fixed deposits from three small finance banks on its Coin platform with no user fees

Analysts say the thin commissions won't drive revenue but may improve user retention and cross-selling

Zerodha launched fixed deposits (FDs) on its Coin platform on 9 April 2026.
The FDs are distributed for partner banks and carry no user fees.
Partner banks are Suryoday Small Finance Bank, Utkarsh Small Finance Bank, and Unity Small Finance Bank.
Zerodha earns backend commissions from the banks for each FD sold.
Analysts note that FD commissions are thin and will not be a primary revenue driver.
The strategic goal is to capture a share of savings, improve user retention, and enable cross-selling of other products.
One analyst said a unified interface addresses fragmentation and keeps users within the platform.
Coin was originally launched in April 2017 as a direct mutual fund platform.

Zerodha's FY25 consolidated revenue was Rs 8,847 crore, down 11.5% year-on-year.
Its FY25 profit was Rs 4,237 crore.
The company has over 1.8 crore customers and a 15% market share of daily retail exchange volumes in India.
Adding FDs is part of a strategy to deepen user engagement and reduce churn.

Zerodha is a discount stockbroker offering stocks, IPOs, derivatives, mutual funds, ETFs, and bonds.
It charges a flat Rs 20 for intraday and F&O trades, and zero fees for equity delivery and direct mutual funds.
The company has over 1.8 crore customers and handles ~Rs 9 lakh crores in equity investments.
It holds a 15% market share of daily retail exchange volumes in India.
Zerodha has invested in 30+ fintech startups and runs educational initiatives like Varsity and TradingQ&A.
It offers an API called Kite Connect for order placement, market data, and account management.
Other initiatives include Nudge and Kill Switch to help users manage money better.