ICICI Demat Account – Find Opening Process, Charges, AMC & more
The ICICI Demat Account is used by the highest number of retail traders in the country and that makes ICICI Direct the largest retail stockbroker in the economy.
The ICICI Trading Account has wide variety of facilities and investment options that can be used for investments by the clients and the unparalleled services offered by the stockbroker are the primary reason for their success.
If you are looking for a stockbroker to open your Demat account, then you must read this article below which enumerate all the details about the ICICI Direct Demat Account and their services and the facilities you get.
The article will take you through the various features of the account and the services/products and others and then you will get to know how you can easily open the Demat account with the help of this article only and then start trading within a day.
The article will also guide you about all the charges that are associated with the Demat account and the trading account offered by the stockbroker – ICICI Direct.
ICICI Demat Account
ICICI Direct being the largest retail stock brokerage house in the country has abundance of services and products in their kitty for their clients which you can make use of when you open ICICI Direct Demat Account.
There are more than 20 lakhs clients registered with them who trades using the ICICI Demat Account and the products offered by the firm.
ICICI Direct is an integral part of the ICICI Bank which is one of the most reputed and famous financial institutions in the country and the most sought after private banks in the country. They offer a three-in-one account for the trading purpose and we will discuss it in the section below.
The three-in-one account includes all the three types of accounts that you need for a complete trading transaction that is Demat, Trading and Bank account. ICICI Direct offers all three accounts together and thus making your transactions smoother and most importantly safe.
This account helps you trade various kinds of investment options starting from the equities to the mutual funds as well. The bank account which is linked to this account is a savings account and not a current account. With the Demat account, you can purchase and invest in general insurance as well.
Benefits of ICICI Direct Demat Account
- This is an online trading platform in every true sense and its three-in-one feature makes it the most reliable and safest for the traders. There is hardly any requirement for manual labor in the process of trading while using ICICI Direct account and trading platforms.
- You get a variety of investment options to trade and invest your money in using the ICICI Direct Demat and trading account and also there are variety of trading platforms that are provided by the stock brokerage house for the use of the clients. The trading platforms are advanced and full of trading and analytical features to make your trading full proof.
- Not only equities, currencies or commodities, with ICICI Direct Demat account, but you can also invest in mutual funds, IPOs, GOI Bonds, Postal savings and many more schemes and options available for investments in the country.
- You can trade stocks available on BSE as well as NSE using this Demat account.
- You need not worry as the trading platforms offered by ICICI Direct works on slow internet connection as well.
- There are other unique features that come with the Demat account of ICICI Direct is my GTC where you can place buy and sell orders with limit and you can put a validity period as well for these orders and till then, the orders will be active.
Open ICICI Direct Demat Account – Fill up the Form Now!
How to Open an ICICI Demat Account?
The process to Open ICICI Demat Account is simple and you can start the application process right here.
- You can see a button here on this article which says “Open Demat Account”. Click on that button.
- A pop-up form will open on your screen which needs to be filled.
- Once the form is filled, then submit it.
- You will get a call from the ICICI Direct executives and they will guide you about the application process further and will also verify the details.
- You need to upload certain documents for the KYC purpose and the documents must include the PAN, AADHAAR details and the photograph.
- Once you upload all these documents, those will be verified and then your application will be approved on the basis of the verification results.
- You can then start using your Demat and trading account for trading by log in the profile.
Hence, you can easily open Demat Account in ICICI.
Check out Demat Account Opening Process of other Brokers
ICICI Demat Account Charges
|ICICI Direct Demat Charges|
|Depository Participant||NSDL & CDSL|
|Account Opening Charges||Zero|
|Demat AMC||Rs.700 per Annum from 2nd Year|
|Margin Required||Minimum Rs.20,000|
There are no ICICI Direct Account Opening Charges, you can open account with the largest stockbroker in the country for free.
Apart from the ICICI Demat Account Charges, there are some other charges which will discuss in the later section of the article. The Demat account you will get can be under NSDL and CDSL or both and that makes your stocks safe.
Making account opening free helps many retail brokers as they do not have to pay any initial charges for the account.
While opening the account, the margin money required to be kept which is Rs. 20000 as the minimum. The Demat account from ICICI Direct has dematerialization facility available.
ICICI Direct AMC or Annual Maintenance Charges
The ICICI Direct Annual maintenance charges or ICICI Direct AMC is quite high compared to the other brokers in the market.
Though there are no opening charges on the account, you need to pay yearly Rs. 700 for the Demat account and zero for the Trading account which is partially quite high than other stock brokerage houses.
Check out Demat Account Opening Charges of other Brokers
ICICI Trading Account
The ICICI Direct Trading Account provides a pool of facilities for trading –
- You can trade five times more than your margin in case of equity delivery
- In case of intraday trades, you get exposure up to 25 times which is huge
- For the equity futures, you get 4 times leverage with the ICICI Direct Trading Account.
- You get to check your margin balance and also all your positions in the stocks
ICICI Direct Demat Account – Conclusion
With ICICI Direct Demat Account, you will be a part of the nation’s largest retail stock brokerage house and you get all the facilities and the services provided by this broker which will make your trading experience a smooth one.
ICICI Direct Demat Account FAQs
Ques – How can I open ICICI Direct Demat Account?
Answer – Online account opening process has been made seamless and can be done right from this site. Click on the button “Open Demat Account” and you will see a pop up form. Enter the details of the form and then go through the EKYC process, following up with the broker’s representative.
Ques – Is ICICI Direct Demat Free?
Answer – There are two collective charges which make up a demat account. One of the charges is waived off by ICICI and the other one is not waived off. Opening a demat account with this broker is free; however, you have to pay the AMC of Rs.700 per annum from second year, i.e. the account maintenance charge.
Ques – What is ICICI Direct Demat Charges?
Answer – The first charge you need to pay for owning a demat account is the account opening charges, which is not levied by this broker. This is a relaxation provided from the broker’s end, however there is an AMC charged by the company. The Account maintenance charge of Demat account is Rs.700 per annum, from second year.
Ques – Is AMC levied on ICICI Direct Demat?
Answer – Yes, though the stock broker does not charge an account opening charge, it takes an Account maintenance charge once every year. The charge rate for Demat AMC is Rs.700 per annum from second year, which is of industry average, if a comparison is conducted.
Ques – Is ICICI Direct’s Demat Account best?
Answer – Yes, this stock broker is one of the leading stock broking houses in the market today, and investing through them makes it possible to have a great investment journey. This broker also has a brand significance right from the banking sector, portraying their strong hold in finance arena.
Ques – Does ICICI Direct provide Demat a/c?
Answer – Yes, ICICI Direct is indulged in rendering all kind of stock broking services, which originated from a demat account. Irrespective of the asset class you choose to invest in, you will have to deposit through a demaat account, and this stock broking house facilitates one.
Ques – What Documents are required for ICICI Direct’s Demat?
Answer – There are a bunch of documents you need in order to get a demat account. They are among the basic set of documents which provide identity and bank details to link the demat account with bank account. You need an Aadhaar card, PAN card, passport size photo and a cancelled cheque.
Ques – Is Aadhaar Compulsory to Open ICICI Direct Demat?
Answer – Yes, it is essential to have your Aadhaar card handy, as identification process requires the same. You account will go through the KYC stage and then get verified, and an Aadhaar card is the means to successfully go through both the process.
Ques – Is PAN required for Opening ICICI Direct Account?
Answer – Yes, PAN card is one of the many documents you need, in order to open a demat account. You need to verify your identity and then also link your bank account to your demat account for transfer of funds, all of which require you to hold a PAN card.
Ques – Do they Charge Demat Account opening Fee?
Answer – No, this is a good news for aspiring invest who wish to invest via ICICI Direct, i.e. they do not charge an account opening charge. Anyone can choose to open an account and straight away get started with the investment process for free.
Open ICICI Direct Demat Account – Fill up the Form Now!
Find out Demat Account details of other Stock Brokers
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