What are Account Maintenance Charges in ICICI Direct?
ICICI Direct stands as one of the premier full-service retail stockbrokers, offering a diverse range of brokerage plans tailored to cater to different types of investors. These plans encompass cost-effective schemes, permitting commission-free Futures trading and access to an array of value-added services. The scope of these services varies from plan to plan, including benefits such as instant fund withdrawals for sell trades, exclusive research content, and the option for deferred payments.
ICICI Direct Brokerage Plans
ICICI Direct offers four distinct brokerage plans to its clientele:
ICICI Direct Prime Plan
This innovative plan features yearly and lifetime subscription options, entailing over a 50% reduction in brokerage across all products. Additional benefits include instant payouts for sold stocks, access to exclusive research, reduced interest on delayed payments, and a complimentary Bullet Plan, which facilitates commission-free Intraday trading for trades concluded within 5 minutes.
ICICI Direct Neo Plan
The Neo Plan offers commission-free Equity Futures Trading, along with a nominal charge of Rs 20 per order for Equity Intraday, Currency, and Commodity trading, regardless of the trade value. Equity Delivery incurs a charge of 0.55% of the transaction value. Priced at Rs 299 with a lifetime validity, this plan also grants access to advantages like margin funding, free research, and instant fund withdrawal. When combined with the ICICI Direct Prime plan, it further reduces brokerage across various products.
ICICI Direct Prepaid Brokerage Plan
Also known as the ICICI Direct Lifetime Prepaid Brokerage Plan, this discount brokerage scheme offers substantial savings of up to 55-87% on brokerage across products. It comes with a validity of 15 years and the flexibility to request a refund of the unutilized amount after one year. The Prepaid plan offers seven different plans, catering to individual preferences.
ICICI Direct I-Secure Plan
This is a conventional plan based on fixed pricing. The I-Secure Plan encompasses various products such as Margin, Margin Plus, Future, Future Plus, Future Plus Stop Loss, Options, Options Plus, and Options 195, designed to streamline the trading process.
ICICI Direct Account Charges
ICICI Direct provides stock trading and Demat account services, with corresponding fees, commissions, and taxes applicable to trading activities. Here is the fee structure for opening and maintaining (AMC) accounts:
| Transaction | Fee Amount |
|---|---|
| Trading Account Opening Charges | Rs 0 (Free) |
| Trading Annual Maintenance Charges | Rs 0 (Free) |
| Demat Account Opening Charges | Rs 0 (Free) |
| Demat Account Annual Maintenance Charges (from 2nd year) | Rs 300 |
ICICI Direct Brokerage Charges (2023)
Customers pay a commission (brokerage) when trading stocks through ICICI Direct. The brokerage charges for equity, commodities, and currency derivative trading are outlined below:
ICICI Direct Neo Plan:
| Segment | Brokerage Fee |
|---|---|
| Monthly Fee (Fixed) | NA |
| Equity Delivery | 0.55% |
| Equity Intraday | Rs 20 per order |
| Equity Futures | Rs 0 (Free) |
| Equity Options | Rs 20 per order |
| Currency Futures | Rs 20 per order |
| Currency Options | Rs 20 per order |
| Commodity Futures | Rs 20 per order |
| Commodity Options | Rs 20 per order |
ICICI Direct I-Secure Plan:
| Segment | Brokerage Fee |
|---|---|
| Monthly Fee (Fixed) | NA |
| Equity Delivery | 0.55% |
| Equity Intraday | 0.275% |
| Equity Futures | 0.05% |
| Equity Options | Rs 95 per lot |
| Currency Futures | Rs 20 per order |
| Currency Options | Rs 20 per order |
| Commodity Futures | Rs 20 per order |
| Commodity Options | Rs 20 per order |
ICICI Direct Demat Account Charges (2023)
Apart from trading commissions, there are separate charges for Demat account transactions:
| ID | Transaction | Charges |
|---|---|---|
| 1 | Demat Account Opening Charges | Rs 0 (Free) |
| 2 | Transaction Charges (Buy) | Varies based on transaction type |
| 3 | Transaction Charges (Sell) | Varies based on transaction type |
| 4 | Annual Maintenance Charges (AMC) | For Individual account: ₹700 p.a. |
| For Corporate account: ₹1500 p.a. | ||
| 5 | Demat + Courier charges | ₹50 Per Demat Request Form |
| ₹10 For Each Certificates | ||
| 6 | Remat | ₹25 + CDSL charges at actual |
| 7 | Pledge Creation | 0.02% or a minimum of ₹35 |
| 8 | Pledge Creation Confirmation | 0.02% or minimum of ₹35 |
| 9 | Pledge Invocation | 0.02% or a minimum of ₹35 |
| 10 | Failed Transactions | Charges may apply |
| 11 | Other Charges | ₹200 for restoring services if an account is |
| suspended for non-payment of charges |
ICICI Direct Transaction Charges and Taxes
In addition to brokerage, ICICI Direct also charges government taxes and fees, which are detailed in the contract note provided to customers. The following table outlines the tax rates:
- Securities Transaction Tax (STT)
- Exchange Transaction Charges
- GST
- SEBI Charges
- Stamp Duty
This comprehensive overview of ICICI Direct’s account maintenance charges and brokerage fees aims to empower investors with transparent information to make informed decisions in their trading activities.