The opening charges of an ICICI Demat account is zero. However, the Demat account's annual maintenance charges are 700 rupees per annum, and the trading account opening charges are 975 rupees per annum.
Hailing as the 2nd largest retail stockbroker in the country, it offers a broad range of investment options for all its 20,00,000 customers that it has served to date. ICICI direct is part of the ICICI group that provides customers, traders, and investors to trade in the stock market. The various categories involve mutual funds, IPO, bonds, derivatives, wealth products, home loans, and much more.
Moreover, the company offers a 3-in-1 account, which comprises a trading account, savings account, and Demat account. It's quite a seamless affair when you open such an account. Even opening an account can be done online or by visiting a branch.
ICICI Direct Demat account Charges
The prices mentioned in the table given below give a brief idea about the stockbroker's charges. They are competitively priced where it provides stiff competition to others in many segments. However, the brokerage charges per lot are on the cheaper end than the competition offering the same at a higher price.
However, the prices for account maintenance are higher as all the charges are lower, which is quite reasonable. But customers will have to maintain a balance of 20,000 rupees to execute trade seamlessly.
The above-given charges are subjective to change based on brokerage plans chosen by the trader/investor.
As the name suggests, the plans are designed to provide the lowest brokerage fee while the customer pays a one-time fee. There are more than six prepaid plans to choose from, each offering different rates at different fees.
Those with a lot of transactions with high trading lots can use such plans to get a % discount on the brokerage fees. It's more suited towards a flexible brokerage scheme.
There are three plans under this scheme where flat rates are paid upfront. Each plan is designed to eliminate the standard brokerage fee and is valid for a year. Thus, making it entirely feasible if you're looking to have high-intensity trading with the least amount of brokerage charges amongst the plans.
ICICI Direct has a minimum brokerage charge as well that come under the I-Secure plan. It's where 35 rupees or 2.5% of the trade is calculated. The lower amount is taken into consideration. The minimum brokerage fee in the other two plans, as discussed above, is 25 rupees or 2.5% of the total trade, whichever is lower. There is a five paise brokerage fee charged on trades that are executed below 10 rupees.