What is ICICI Direct prime?

The ICICI Direct Prime is a yearly subscription plan that reduces your brokerage by 50% to 60% and allows you to get the money from the sale of shares back in your trading account on the same day, instead of waiting for T+2 days where T is the day of trading.

The instant credit facility is known as Equity ATM (eATM). Through eATM, customers receive a credit of funds from sell orders within 30 minutes (as against the current payout cycle of T+2). This fund can be immediately utilized to buy shares or pay for margin.

Read more detail about the ICICIDirect Prime Plan.

Note: In a normal settlement cycle, it gets T+2 days (T being the day of the trading) to get your money into your trading account when you sell stocks. In ICICI Direct prime plan, the money is available in your eATM on the same day within 30 minutes thus allowing you to reuse it for trade in the other stocks & securities.

ICICI Direct Prime Plan Facts

• The plan has a yearly fee of Rs 900, Rs 4500 and Rs 9500.
• The funds from sell under ICICI Direct Plans are not available in your bank account on the same day. They are available only in your trading account to buy shares or use as margin for intraday trading.
• You get instant credit of up to Rs 1 Crore when selling stocks without any additional cost. The payout limits differ upon the prime plan you choose.

Steps to subscribe for ICICI Direct Prime Plan

1. Login to your ICICIDirect.com
2. Click on 'Customer Service' button into the navigation bar
3. In the left navigation bar, go to 'My Profile' section
4. Click on the 'Select Brokerage Plan' link
5. Choose 'Prime Plan' and select one of the prime plans
6. Submit the request

The plan subscription fee is automatically deducted from your linked ICICI bank account. You get a confirmation email once the new plan is active.

 Open Instant Account - Start Trading Today