ICICI Direct Demat Account Charges, Review, Opening


12.97% 1,215,531 Clients

Incorporated in 1994, ICICI Bank is India's largest private sector bank (2nd largest bank after SBI) offering a wide range of financial services through a network of 4,882 Branches located across India. ICICI Bank has over $100 billion in Asset Under Management (AUM).

The 3-in-1 account is ICICI bank's most popular product offering to retail customers. This account includes a bank account, trading account and a demat account, all linked together for absolute seamless transactions between them.

The 3-in-1 account offers:

  • Investment & trading across all segments.
  • Online and offline access to investments.
  • Online IPO, Mutual Fund, NCD, FDs, Insurance etc.
  • Auto deposit of dividend and bonus shares

ICICI Demat Account Key Features:

ICICI has over 25 lakh demat account customers. ICICI Bank offers a few unique facilities to its demat account customers such as-

  1. Free ICICI Demat Account Opening- ICICI Direct charges zero Demat Account opening fees. Also, the annual service charges for the first year is zero.
  2. Earn 3.5% Interest- ICICI Demat Account users can earn 3.5% interest on money lying idle in their trading accounts.
  3. Free Brokerage Up To ₹20,000- In the equity cash market, customers can trade up to ₹ 44 lakhs at zero brokerage costs.
  4. *The limit of FREE Brokerage is based on the value of the account opening cheque

    Account Opening Cheque

     

    50 K - 99.99 K

    1 Lakh - 4.99 Lakhs

    5 Lakhs - 9.99 Lakhs

    10 Lakhs - 24.99 Lakhs

    >=25 Lakhs

    Bonus Brokerage

    1,000

    4,000

    6,500

    14,000

    20,000

  5. eATM or Equity ATM- Normally, cash proceeds on selling shares is credited to your trading account in T+2 days with T being the day of trade. With eATM facility, you can receive money up to ₹ 50,000 per day within 30 minutes of the execution of the order. This facility is available on the sale of over 600 BSE stocks free.

In addition to above, there are many other features of the ICICI Demat Account such as-

  • Offers 100% online demat account.
  • Electronic statement every month.
  • Dividend, interest and bonus deposited directly in the account.
  • SMS alerts for demat transactions
  • Customer services are available through ICICI Bank branches
  • Mobile app to manage the account
  • Advisory services that cover over 200 companies across sectors

ICICI Direct Demat Account Opening Charges

To open a new Demat account with ICICI Direct, the customer may have to pay Demat account opening charges. The broker may also charges Annual Maintenance Charges (AMC), a yearly fee to maintain the Demat account.

ServiceCharges
Demat Account Opening Fee₹0
Demat Account Annual Charges (AMC)₹700 (from 2nd year)

ICICI Direct Depository Service Charges for Resident Retail Customers

Sr Particulars Charges
1 Account Opening Charges Nil
2 Annual Service Charges (AMC) ₹700
3 Buy - Market and Off-Market Nil
4 Sell - Market and Off-Market (Maximum ₹500 for debt instruments / Nil for Trades done on www.icicidirect.com)
  * Instruction submitted through Internet (E-inst / IVR) 0.04% (Minimum ₹30 and Maximum ₹25,000)
  * Instruction submitted through Call Centre 0.04% (Minimum ₹35 and Maximum ₹25,000)
  * Instruction submitted at Branches 0.04% (Minimum ₹40 and Maximum ₹25,000)
5 Rejection/fails ₹30
6 Extra charges for the processing of TIFDs submitted late (% of transaction value)  
  * Instruction submitted through Internet (Einst/IVR) Nil
  * Instruction submitted through Call Centre Nil
  * Instruction submitted at branches (accepted at Client's risk) ₹10 per ISIN
(Nil for e-instructions)
7 Dematerialisation  
  * For each request form ₹50
  * Extra for each certificate ₹3
8 Rematerialisation A fee of ₹25 for every hundred securities or part thereof, subject to a maximum fee of ₹3,00,000 or a flat fee of ₹25 per certificate, whichever is higher.
9 Reconversion of MF units ₹25 per instruction
10 Closure of Account Nil
11 Pledge Creation/Closure/Confirmation/ Invocation  
  * If, ICICI Bank is counterparty 0.02% (Minimum ₹35 and Maximum ₹25,000)
  * If, ICICI Bank is not counterparty 0.04% (Minimum ₹45 and Maximum ₹25,000)
12 Additional Account Statements ₹20
13 Reissuance of Delivery Instruction Slip (DIS) ₹50 per booklet
ICICI Direct Special Offer

ICICI 3-in-1 Account

ICICI Direct offers a 3-in-1 account, a combination of saving bank, trading and demat account. It offers one-click investment in Equity, Derivatives, Mutual Funds, IPO, ETF, Life Insurance, General Insurance, Currency, and Fixed Deposits.

Interested in opening a trading account? Request Callback from a stock broker.

Frequently Asked Questions

  1. 1. How is ICICI Direct demat account?

    ICICI Direct demat account is a safe, convenient and online account to trade and invest in the Indian stock market. The account allows you to trade/invest in Equities, Derivatives, Mutual Funds, IPOs, Fixed Deposits, Bonds, NCDs, wealth products, Home Loans, and Loan against Securities etc.

    ICICI offers a 3-in-1 account which is the combo account of saving bank account, demat account and trading account, all linked together for seamless online trading experience.

    ICICI is the largest full-service stock broker in India for over 30 years. ICICI is a well established and trusted brand. They offer demat account services online as well as offline through ICICI Bank branch offices.

     

  2. 2. What is ICICI Direct DP id?

    Your ICICI DP ID is a part of your demat account number. The demat account number is a 16 digit alphanumeric code. The first 8 letters of the demat account number is your DP ID and the rest 8 digits is your client ID. To know your ICICI Direct DP ID, take the following steps:

    • Login to ICICI Direct website
    • Go to 'Customer Service' page
    • Scroll down to My Account.
    • Find your demat account number under My Account Details.

    Note: The CDSL demat account number is 16-digit numeric code. The NSDL demat account number starts with letter IN and followed by a 14-digit numeric code.

    Example:

    If your ICICI Direct Demat Account Number is IN303028 - 51120994, then your ICICI Direct DP ID is IN303028. This also shows that your demat account is with NSDL.

    Note: As ICICI is a depository participant (DP) of both CDSL and NSDL, it has multiple DP IDs. Use the above step to check the exact DP ID for your account.

     

  3. 3. Is ICICI Direct NSDL or CDSL?

    ICICI Direct offers both NSDL and CDSL depositories for demat account. Customers can choose one of them while opening an account. ICICI Securities is the depository participant (DP) with both NSDL and CDSL.

    National Securities Depository Ltd (NSDL) and Central Depository Services India Ltd (CDSL) are two central securities depositories approved by the Government of India. They are the only two companies to hold your demat account. Stock broker (depository participant) like ICICI Securities works like an agent to service your demat account.

    While both depositories are similar, NSDL transaction changes are higher than CDSL. If you do not know, choose CDSL.

     

  4. 4. How to close ICICIDirect demat account online?

    To close ICICI Direct demat account, you would need to fill out a form and submit it to the bank. The account closing process is a manual process. You cannot close the demat account by email, over the phone or by submitting an online application.

    An SMS is sent with an account closure request number once your application is received. It could take up to 7 days to close the account. There are no charges for account closure. You will get confirmation SMS once the account is closed.

    Steps to close ICICI Direct Account

    • Download the 'Account Closure Form' or get an account closure form from the ICICI branch.
    • Print it, Fill it and Sign it.
    • Submit it to the nearby ICICI branch or send it to the address in the form.
    • Wait for a call from ICICI. It takes 7 days for the account to close.

    Note:

    • Before submitting the form, close all open trading positions and pay all dues, if any.
    • Transfer or sell the securities you hold in your demat account.
    • Any accounts which in the suspended mode for any reason cannot be closed. You have to get it active again before closing the account.

     

  5. 5. What is DP ID and Client ID in demat account in ICICI Direct?

    ICICI Direct assigns a unique demat account number to your demat account at the time of account opening. This account number is a 16 digit alphanumeric code. The first 8 letters is your DP ID and the last 8 digits is your Client ID.

    The Client ID along with your DP ID gives you a demat account a unique identification in the depository (CDSL or NSDL) where you have your demat account. All your demat transactions are identified with this demat account number.

    Note: The CDSL demat account number is 16-digit numeric code. The NSDL demat account number starts with letter IN and followed by a 14-digit numeric code.

    Steps to find ICICI Direct DP ID and Client ID

    • Login to ICICI Direct website
    • Go to 'Customer Service' page
    • Scroll down to 'My Account'.
    • Go to the 'My Account Details' section.
    • Find the demat account number.

    Example:

    If your ICICI Direct Demat Account Number is IN303028 - 51120994, then your ICICI Direct DP ID is IN303028. This also shows that your demat account is with NSDL.

    Note: As ICICI is a depository participant (DP) of both CDSL and NSDL, it has multiple DP IDs. Use the above step to check the exact DP ID for your account.

     

  6. 6. How to register nominee in ICICI Demat Account Online?

    The registration of nominees in the ICICI demat account is an offline process. It cannot be done online. You will have to download a nomination application form, fill it, sign it and submit it to the bank.

    Steps to update nominee to ICICI demat account

    • Download the FORM FOR NOMINATION/ CANCELLATION OF NOMINATION
    • Print, fill and sign the form.
    • Attach Copy of any proof of identity like PAN, Driving License of Nominee (major) or of guardian (if minor) is required. It needs to be self-attested and to be attested by the respective authority.
    • Submit it to any ICICI bank or send it to the address provided in the form.

    Note:

    • Nominations can be made only by account holders. In the case of the joint account, all account holders will sign the nomination form.
    • Both major or minor nominees can be nominated.
    • Up to 3 nominees can be added in a demat account. In the case of multiple nominees, the percentage of share for each nominee must be filled that shall total up to 100%. In the event of non-indication of any percentage share, the claims will be settled equally amongst all the nominees.

     

  7. 7. How to change name in ICICI Demat account?

    You can change your name in the ICICI Demat Account by filling out a 'change in name form' and submitting it to your local ICICI bank branch. The process cannot be done online or through customer care.

    Steps to change name in ICICI Demat Account

    • Download the CHANGE IN NAME FORM and print it.
    • Fill the details asked like DP ID, Client ID, account holder(s) name etc.
    • Enter Reason for name change like marriage or any other reason
    • Enter Old Name of applicant (as per Bank's records) and New Name of applicant (as per Bank's records)
    • Attach one of the following self-attested documents:
      • Request letter along with Marriage Certificate or Copy of passport showing husband's name or publication of name change in the official gazette
      • Attested copy of Gazette for the name change
    • Sign it. In the case of a joint account, all account holders must sign the form.
    • Submit it to local ICICI Bank branch

     

  8. 8. How to close ICICI Direct demat account online?

    The ICICI Direct demat account cannot be closed online. You would need to fill out a form and submit it to the company to get your demat account closed. There are no charges for closing the account. It could take up to 7 days to close the account.

    Steps to close ICICI Direct Account

    • Download the Account closure form and print it Or visit the nearest ICICI Bank branch and request for Account Closure form.
    • Fill the form and attach all the required documents like copy of the ledger, unused DP slips
    • Submit the form at the branch office.
    • You will receive an SMS on your mobile phone with an account closure request number.
    • It may take up to 2 working days to close the account. You will get confirmation SMS once the account is closed.

     

Contact ICICI Direct / Request Call Back

Get ICICI Direct 3-in-1 account, an integrated trading + demat + bank account for one-click investment in stock market and mutual funds. Request a Callback.

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Information on this page was last updated on Monday, October 12, 2020


2 Comments

Khemsingh
2. Khemsingh  Dec 11, 2019 13:02 I Like It. | Report Abuse Reply
you people are only taking about investment . who is responsible for attending complaints. your bank has lost my shares in transition. who is responsible /
Dinesh K
1. Dinesh K  Apr 23, 2017 22:18 I Like It. | Report Abuse Reply
Why does ICICI charge so much AMC?








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