ICICIDirect (ICICI Securities Ltd) is the largest stock broker in India offering retail trading and investment services. ICICI offers 3-in-1 account, the most convenient way to invest in share market in India. The 3-in-1 account is combination of saving bank account, trading account and demat account opened and linked together for seamless transactions between these accounts.
To invest or trade in stock market with ICICI bank, you have to open a 3-in-1 account with them. If you already have demat or bank account with ICICI Bank, these can be linked to make it 3-in-1 account. Note that with ICICI its compulsory to open all 3 accounts with them. You cannot link other bank account or other demat account with ICICI trading account.
Once you open trading account with ICICIDirect, you could invest in Equity, IPO, Mutual Funds, Derivative Products (Equity F&O and Currency F&O), Systematic Investment Plans (SIP), Fixed Deposits, NCDs etc.
Note minimum balance of Rs 5000 (Monthly Average Balance) has to be maintained in ICICI Bank Saving Account linked with 3-in-1 account.
To open account with ICICIDirect, you could follow one of the steps below:
Note that while ICICI executives says that it usually take 2 to 3 working days for a 3-in-1 account to open once you submit all the forms and supporting documents, in most cases it may take up to 7 working days.
Once you submit the account opening form in the ICICI Bank branch or filled the application online, you could check the status of account opening online by visiting the 'See Your Application Status Online' on the Customer Service page of icicidirect.com. You would need 'Application/Form Number' and 'Date of Birth' to check the application status online.
Note that it takes minimum 2 days to update the ICICI Bank account opening status.
If you have registered online and didn't get the executive visited your home, you can always visit the local ICICI Bank branch or call customer services helpline to prioritize the ICICIDirect account opening process.
ICICIDirect Account Opening Forms are available in ICICI Bank branches. You could also call ICICI Bank sales helpline to arrange an executive visit to your home and he will bring the forms along with him.
If customer do not do any trades for 6 month, the ICICIDirect trading account become "Inactive" or "Dormant" trading account. The account remain on the customer's name and the broker keep charging Annual Maintenance Charges (AMC) on this account. To reactivate the ICICIDIrect account, customer has to contact ICICI Bank.
If customer is not using the ICICIDirect trading and demat account, it is recommended to close the account to avoid almost Rs 1000 per year AMC.
ICICIDirect customer may close the accounts with ICICI Securities at any point of time. Easiest way to close ICICIDirect account is to visit the ICICI Bank branch and submit an application for Account Closure. Every branch has a sample application which they print and give it to the customer to sign.
Note that after the application is submitted for account closure, it may take up to 2 working days to close the account.
ICICIDirect customer can also delink the demat and bank account, if they want so. Once again an application is to be filled and submit in the branch to delink the accounts.
ICICI do not charge anything for account closure.
Customer pays account opening fee for trading account opening with ICICIDirect. The account opening fees are as below:
Information about ICICIDirect account opening, ICICIDirect open account, ICICIDirect opening charges, ICICIDirect account opening charges, ICICIDirect account opening status, ICICIDirect amc charges, ICICIDirect account charges and ICICIDirect account closure.
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Rs 899 Unlimited Equity
Rs 499 Unlimited Curror Rs 15 per Trade
Lowest Transaction Charge
Lowest Call & Trade Fee
Lowest Stamp Duty
Flat Rs 20 Per Trade
Free Equity Delivery Trades
Rs 100 off on account opening* + 100% brokerage refund if in 60 days you have made net profits
(* on online account opening)