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ICICI Direct is a full- service broker offering over 2,500 mutual funds from more than 36 fund houses in India. You can easily diversify your investment portfolio with a wide range of funds available with the broker. ICICIDirect offers regular mutual funds. ICICI Direct charges Rs 30 or 1.5% of the investment value, whichever is lower, per transaction for investing through SIP route. It charges a flat Rs 100 for investing in mutual funds through the lump sum mode.
The broker also offers in-house ICICI direct mutual funds through ICICI Prudential Mutual Fund website. If you are investing in ICICI AMC through ICICI Pru Mutual Fund, no charges will be levied. The platform also allows investment either through SIP or lumpsum.
ICICI Direct offers various categories of mutual funds including senior citizen pension plan, retirement plan, tax-saving scheme, vacation planning scheme, equity funds, debt funds, hybrid mutual funds, and balanced funds, etc.
ICICI Direct helps an investor to invest in a wide range of mutual fund products based on his financial needs and risk profile. Key features of ICICI Direct MF platform are as follows:
ICICI Direct offers regular mutual fund schemes and charges a commission from investors. The charges for investing in mutual funds are based on the transaction amount. If you have invested less than Rs 8 lakhs in mutual fund holdings through ICICI Direct, you will be charged Rs 100 per transaction for the lump-sum purchase. For SIP transactions, you have to pay Rs 30 or 1.5% of the investment value, whichever is lower. Apart from this, you also have to pay a 10.30% service tax per transaction.
If you are holding Rs 8 lakh or more than that, the broker doesn't charge anything from you.
|
ICICI Direct Account Opening Charges |
Nil |
|
ICICI Direct Mutual Fund AMC Fees |
Zero |
|
ICICI Direct Mutual Fund Transaction Charges |
MF investment less than Rs 8 lakhs, SIP: Rs 30 or 1.5%, whichever is lower; Lumpsum: Rs 100 per month When MF investment is Rs 8 lakh or more, No Charges |
|
ICICI Direct Mutual Fund Commission |
|
|
ICICI Direct Mutual Fund DP Charges |
Rs 700 as AMC |
|
Other Charges |
Exit load will be applicable on redemptions of the schemes |
Investing in mutual funds is quite easy, you only need to be KYC verified. If you are an existing user, you don't need to do it again. Here are the account opening steps for investing in direct and regular mutual funds:
If you are planning to invest in a direct mutual fund, you can do it through the ICICI Prudential Mutual Fund website through your net banking. Here is the simple process to become KYC Verified and take part in ICICI Mutual Fund investment:
Step 1: Fill the form available on the website with personal information such as mobile number, email id, city and PAN number.
Step 2: Choose the mutual fund scheme you want to invest in and provide the details about the scheme.
Step 3: Choose your nominee name and provide further details on it.
Step 4: Provide your bank account details. You can also choose the existing bank account with a net banking facility.
Step 5: Create an ICICI mutual fund login ID and password for future access.
Step 6: Make Payment through debit card or net banking and apply.
Note: ICICI Prudential is a fund house offering only ICICI Mutual Fund (Direct schemes).
ICICI Direct allows investing across more than 36 fund houses and 2,500+ schemes. All the schemes available on the ICICI Direct MF platform are regular mutual funds. To start investing with the broker, you need to open a mutual fund account. If you are a first-time investor, you have to complete the KYC verification process. KYC is a mandatory process to invest in mutual funds. If you have done it already with other brokers, you are not required to do it again. After KYC, you can visit the mutual fund section at ICICIdirect using ICICI mutual fund login ID and password to start investing.
ICICI Direct allows investment in mutual funds either through lump sum or SIP. SIP is a disciplined way to invest in mutual funds by investing in small amounts at regular intervals. You can choose the period to invest regularly in a particular scheme. You can also increase/ decrease/ stop SIPs at any time.
If you are KYC compliant, you can invest in a mutual fund SIP. Here are the steps to start SIP with ICICI Direct:
Note: Keep the sufficient investment amount in your linked bank account, else SIP will be rejected.
You can also cancel or stop the SIP plan before completing the tenure specified by you. There are no charges to stop a SIP. Here are the steps to stop a SIP with ICICI Direct:
Note: Stopping/ cancelling SIP doesn't mean that you have withdrawn the scheme. Your money will stay invested in the scheme till you place a withdrawal or redemption request.
Investors can invest in mutual funds through ICICI Direct Mutual Fund Platform. One-Click Investment portfolio at ICICI Direct is an investment tool for mutual fund investors. The broker doesn't charge an additional fee for using this feature.
ICICI Direct Mutual Fund can be accessed either through the mobile application and web-based system:
ICICI Direct Mobile Trading App allows you to invest in mutual funds along with other asset classes. The app is available for Android and iPhone users to download for free. You can access the mobile trading app any time from your smartphone or iPhone.
ICICI Direct also offers a web-based trading platform to invest across various securities. Customers can access the web trading platform with ICICI Direct Trading ID and password. You just need an internet connection and a browser to connect to ICICI Direct trading.
ICICI Pru IPrutouch app provides a platform to invest in direct mutual funds offered by ICICI AMC either through lump sum or SIP. This mobile app doesn't allow investment in regular schemes offered by ICICIdirect mutual fund.
ICICIdirect.com offers customer care helpdesk to help investors. For any query regarding investment, you can call on 1860 123 1122 during business hours. In case you are stuck at any stage of your mutual fund investment on ICICI Pru MF platform, you can give a missed call on 7043338196 and get a callback.
ICICI Direct mutual fund has collaboration with around 36 fund houses to offer regular mutual funds. You can also invest in direct schemes of ICICI Pru AMC, by visiting its website. If you want to invest in ICICI Mutual Fund only, then ICICI Prudential Mutual Fund is the right platform for you. But, when you want to invest in mutual funds from different fund houses, ICICIdirect offers this facility.
Unlike Zerodha free mutual fund investment platform, ICICI Direct is expensive as it charges commissions and fees from the investors on mutual funds except for direct schemes of ICICI Pru AMC which are free.
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Yes, you can redeem your ICICI mutual funds online. Here are steps to redeem ICICI mutual fund online-
Note: If you have placed a Redeem order, it cannot be cancelled in normal condition.
ICICI offers various schemes based on financial goals, risk appetite, and time horizon. Considering the past performance, returns over the years, exit load, risk factors, and other analysis, investors can choose any mutual fund scheme. ICICI Mutual Fund platform offers various schemes such as Equity, Hybrid, Arbitrage, Debt, Liquid and others. Some of the popular schemes for investors who can take high risk are ICICI Prudential Focused Bluechip Equity Fund, ICICI Prudential Dynamic Plan, and ICICI Prudential Long Term Equity Fund.
You can invest in ICICI mutual funds online. Here are steps to invest in ICICI mutual funds online-
Yes, ICICI Prudential Mutual Fund is good. It is a reputed fund house offering direct mutual fund services. By investing in direct schemes, you can save on commissions and charges. These commissions and charges add up to a significant amount in the long-term.
Yes, you can invest in mutual funds from ICICI Direct mobile app and web platforms. To invest, please take the following steps-
ICICI Mutual Fund is a fund house offering in-house mutual fund schemes. You can visit the website and invest in ICICI mutual funds schemes. It offers direct mutual fund schemes. To invest in regular mutual fund schemes of other fund houses, you need to login through ICICI Direct platform.
Yes, you can close or cancel mutual fund investments online. To close the ICICI Mutual fund online, you have to log in to your mutual fund account. Then, click on the existing holdings to view existing mutual funds in your Demat account. Now, click on the 'Cancel' button for a scheme to cancel the order.
To cancel SIP in ICICI Prudential Mutual Fund online, please take the following steps-
ICICIdirect offers the following mutual funds:
To pause the existing SIP with ICICI Direct, please take the following steps:
ICICI Direct doesn't offer direct mutual funds. They only offer regular mutual funds. The direct mutual funds earn 1% to 2% additional yearly as AMC doesn't have to pay commission to the agents like ICICI Direct.
You could buy direct mutual funds in two ways:
To buy Mutual Funds online with ICICI Bank, you need a 3-in-1 account. This account is a combination of a saving bank, trading and demat accounts. It enables you to invest online in a range of products including Stocks, Mutual Funds, ETF, Corporate FD, NCD, Bonds and IPO.
Steps to buy mutual funds online ICICI Direct
To check your order status, click 'History' on the left side menu in the 'Mutual Funds' section and then on 'Order Book'.
Mutual Fund SIPs allow you to invest a prefixed amount for a prefixed interval in the mutual fund scheme of your choice. ICICI Bank customers can start and manage their MF SIP's online through ICICI Direct investment platform.
Steps to Stop Mutual Fund SIP in ICICI Direct
No, ICICI Direct doesn't offer Direct Mutual Funds. It offers only regular mutual funds through its online and offline investment platforms.
Unlike regular mutual funds that are sold through mutual fund agents like ICICI Direct, the Direct Mutual Funds are sold directly by AMC to the customers. The commission paid to the agents in the case of regular mutual funds is passed on to the customers in the case of direct mutual funds. The Direct MFs earn 1% to 2% additional yearly when compared with the Regular MF.
Stock brokers like Zerodha, Upstox and 5paisa offer direct mutual funds.
You can stop your ICICI Direct Mutual Fund SIP online by login on to its website or through ICICI Direct mobile app. SIPs allow you to invest a fixed amount for a fixed interval in the selected mutual fund scheme. SIP's can be updated or cancelled online at any time by submitting a cancellation request.
Steps to stop SIP online ICICI
Folio consolidation is a process of bringing together all your mutual fund investments under one folio. This saves a lot of inconvenience for tracking your investments in the long run. Technically, more folios mean more account statements to analyze. A consolidated folio means all your MF investments can be part of the same statement.
A folio is a unique client ID for mutual fund investment. It is like a bank account number. Folio number is assigned by the asset management company (AMC). All the mutual funds purchased by a customer through an AMC are mapped under the same folio number. The folio number is present in the account statements.
One person can have multi folio numbers assigned to him by the same fund houses or AMC.
Let's say you have 5 different mutual fund investments in HDFC AMC. All these 5 MF's may have a different folio number. Through consolidation, you can bring all investments under one folio for ease of management.
Investors often make a fresh investment in a fund without quoting an existing folio number with the fund house. It gets difficult to monitor these different folios. Opting for consolidation of folios in a particular fund helps you manage all the investments.
To consolidate your folio, download the folio consolidation order form, fill it and sign it and send it to the address given on the form.
ICICI direct is a stock broker offering a complete suite of online trading and investment products such as Equities, Derivatives, Mutual Funds, IPOs, Fixed Deposits, Bonds, NCDs, wealth products, Home Loans, and Loan against Securities etc. It is the largest retail stock brokers in India.
Lakhs of retail investors use ICICI Direct to trade and invest in the stock market and mutual funds. It is among the oldest online stock broker in India.
ICICI Direct is an online brand of ICICI Securities Ltd. ICICI Securities is a publicly-traded company listed at BSE and NSE. It is part of ICICI Group, India's leading financial service provider.
Information on this page was last updated on Thursday, May 6, 2021
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