Good to see you back on community after a while @doubles.
As a business - we will never compete on pricing, we focus on building a better product & customer experience in everything we do.
For a business, the cost of capital today varies from 14-18% depending on its source - either from a bank or NBFC. It’s more or less public data, you will see it on many places, here’s one of references: https://www.paisabazaar.com/business-loan/interest-rates/
We spend a lot every month in product, technology and infrastructure. Have shared my personal views on broking industry and pricing here: Stock Broking Industry: Some perspective on Pricing / Brokerage & Way Forward | being practical
If the cost of funds become lower, we will pass on the benefit to our users.