Zerodha Referral Program Is Back: Earn 10% Brokerage by Referring Friends

If you have been using Zerodha for a while, you probably already told a friend or two about it. Zerodha has always grown through word of mouth — no TV commercials, no newspaper ads, just real users recommending a platform they trust. And now, Zerodha is officially rewarding that behaviour by bringing back its referral program with a straightforward deal: refer someone, earn 10% of the brokerage they generate, for as long as they keep trading.

What Is the Zerodha Referral Program?

Zerodha's referral program lets existing users earn a share of brokerage whenever someone they referred places a trade. It is not a one-time bonus — the 10% brokerage share continues for as long as your referred friend remains an active trader on the platform.

On top of the brokerage share, you also earn 300 reward points for every successful referral. These points can be redeemed on Console for subscriptions to tools like Tijori, MProfit, and Quicko, or used to offset your own Account Maintenance Charge (AMC).

This is not a new concept for Zerodha. The company actually started this way back in 2010 — they were one of the first brokers in India to share brokerage revenue with referring clients. At its peak, nearly half of all new accounts at Zerodha came through referrals alone.

How Does the Earning Work?

The math is simple. If your referred friend pays ₹100 in brokerage in a month, you earn ₹10. If they trade more actively and pay ₹5,000 in brokerage, you earn ₹500. The more your friend trades, the more you earn — passively.

You can withdraw your earned referral brokerage directly from Console once it crosses ₹500, with withdrawals opening from August 1, 2026.

One important thing to note: only referrals made from June 1, 2026 onwards are eligible for the brokerage share. Accounts that were referred under Zerodha's older program before it was paused will not carry over into this new structure.

How to Refer Someone

The process is easy and takes less than a minute. On the Kite app:

1. Tap on your user ID at the top.
2. Scroll down and tap Invite friends.
3. Tap Share to send your referral link via WhatsApp, SMS, or any other channel.

You can also generate a dedicated affiliate link at zerodha.com/refer and share it wherever you like. When someone opens an account through your link, the referral is automatically captured — no manual entry needed.

All your referral activity is trackable on the referrals page on Console: referred accounts, your earnings, reward points, and payouts — all in one place.

A Good Time to Bring Someone On Board

Zerodha has sweetened the deal for new account holders as well, which makes your referral more likely to convert. From June 1, anyone opening a fresh account gets their first year of AMC for free. And if they are moving their existing holdings from another broker, Zerodha will refund transfer charges up to ₹500. This removes two common reasons why people hesitate to switch brokers.

So if you have a friend who has been sitting on the fence about starting their investment journey — or someone already investing elsewhere who has been curious about Zerodha — now is genuinely a good moment to reach out.

Why Zerodha Runs a Referral Program Instead of Advertising

Zerodha has never spent money on traditional advertising. No newspaper ads, no TV spots. Instead, the philosophy has always been that happy customers are the best marketing — and rather than paying an ad agency, they would rather pay the customers doing the actual convincing.

A typical broker spends anywhere between 10 to 15% of its revenue on marketing. Zerodha channels that money back to the users who bring in new accounts. It is a model that worked well in the early years: at its peak, roughly 50% of new accounts came in through referrals. Even after the brokerage-sharing program was paused due to regulatory changes, around 30% of new accounts still came through word of mouth — with no financial incentive at all.

What Can You Do with Reward Points?

The 300 reward points you earn per successful referral are redeemable on Console. Current options include:

• Tijori — a portfolio and research tool
• MProfit — accounting and tax software for traders
• Quicko — tax filing platform for investors and traders
• AMC offset — use points to reduce your own annual maintenance charge

Points give you flexibility even if you do not hit the ₹500 withdrawal threshold right away.

Things to Keep in Mind

• The referral brokerage share applies to accounts opened from June 1, 2026 only.
• Earnings are not capped — you earn as long as your referral keeps trading.
• Withdrawals open from August 1, 2026, with a minimum balance of ₹500.
• The referral link automatically captures the account — no manual tracking needed.
• Reward points and brokerage earnings are tracked separately on Console.

Is It Worth It?

If you already use Zerodha and genuinely like the platform, this program gives you a real reason to recommend it. The earnings are passive, the setup takes seconds, and the new account incentives make it easier for your referral to say yes. Whether you refer one friend or many, the 10% brokerage share accumulates over time and can add up to a meaningful amount — especially if your referred friends are active traders.