The company last week launched fixed deposits in partnership with small finance banks adding to its current product suite around direct mutual funds, NPS (national pension scheme) and insurance products.
“Think of Coin as a platform where people put money they don’t want to actively manage, mutual funds, NPS, insurance and now with fixed deposits we have launched almost everything we had in mind,” said Neelesh Verma, associate vice president at Zerodha. He heads mutual funds, NPS and fixed income products at the firm.
Zerodha is also evaluating bond distribution, a sector which is seeing major investor interest in recent times, however the company is not finalised on the way it wants to build and distribute the product.
The stock market regulator Sebi (Securities and Exchange Board of India) wants wider distribution of listed corporate bonds through the online bond distribution platforms, which are directly regulated. Players like Wint Wealth, Jiraaf, Stable Money and others operate in this sector.
“Bond distribution has its own regulatory framework and licensing requirements, not something we would like to comment on right now,” Verma said.
Zerodha’s move comes at a time when the technology-led stock broking industry is expanding into a larger wealth management play as sustainable revenue generation and customer stickiness gets into focus. Listed stock broker Groww is doubling down on wealth management after it closed the acquisition of Fisdom. Angel One has promoted Ionic Wealth for its wealth gameplan. Fixed-income platforms like Wint Wealth, Stable Money and Grip have received backing from large venture investors.
Coin currently has around 2.7 to 3 million active users. Its assets under management in the mutual fund business stood at Rs 1.8 to Rs 1.9 lakh crore and there are six million systemic investment plans active on the platform. According to AMFI (Association for Mutual Funds of India) data the net assets under management for the entire industry was at Rs 73 lakh crore in March 2026.
At a time when multiple direct mutual fund platforms have started evaluating regular funds, Zerodha has remained true to the direct offering principle. Verma pointed out that since Coin was launched the idea was to build a platform for all forms of securities and revenue was never a target metric.
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“We have been true to our direct philosophy, even after the launch of our own NBFC, that is not changing,” Verma reiterated.
Infact government securities have been moved from Coin to its broking platform Kite, Verma said, given there is a secondary market associated with this business.
It sits well with Zerodha’s philosophy of putting all active products on Kite, he added.
Zerodha is also planning to introduce mutual funds into Kite, Verma pointed out, so that regular traders can have all their investments with Zerodha in one single place. Zerodha is also focusing on building a strong credit franchisee, with loans against securities and mutual funds being core to its product proposition.
Zerodha Capital now offers larger ticket size loans as much as Rs 10 crore and tenure has been increased to three years from 12 months.
The Bengaluru-based firm recorded an 11.2% drop in revenue to Rs 8,868.2 crore from Rs 9,994.5 crore in the previous fiscal, while net profit declined 23% to Rs 4,236.7 crore. According to data from NSE, the number of active traders for Zerodha stands at 6.8 million as of February 2026.