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ICICI direct offers 3-in-1 (demat, trading and bank) and 2-in-1 account openings for free. And the first year AMC of demat account is free of charge. ICICI direct offers the easiest way to open an account with idirect mobile app or icicidirect website and it takes only 10 minutes. After that, you can start trading and investing in the stock market. When you open an account with icici direct, the financial expert will help you with financial and other services related to the stock market.
| Transaction | Charges |
|---|---|
| Trading Account Opening Charges | Free |
| Trading AMC | Free |
| Demat Account Opening Charges | Free |
| Demat AMC | Rs 700 p.a. [Free for 1st year] |
Opening an ICICI direct account is very easy through idirect or icicidirect mobile app or icicidirect website. Opening an ICICI direct demat account is a complete online process that takes only 10 minutes. Follow these steps to open an ICICI direct account:
Once you complete all these steps, your trading account will be activated and you will get the reference number. Within 24 hours or next trading day, your document will be verified and you will get the login ID and password for ICICI direct Demat account.
There are some documents required for opening ICICI direct account. Here is the list of all required documents:
ICICI is one of the leading Indian banks whose branches can be found in almost every city and rural areas. So, you can also visit a branch near you to open a demat account. There you can contact RM (Relationship Manager) and submit documents to him. After that RM will initiate the process of Demat account opening. He will also help you with other financial services.
To close ICICI direct demat account, you need to download ICICI direct demat account closure form from the official website. Then follow the process to deactivate the demat account:
You can also visit the ICICI branch and ask for the account closure form at RM. Fill in the form and send it to RM. It takes 5-7 trading days for the demat account to be closed after DP receives your account closure form.
Consider the following points before closing a demat account with ICICI Direct:
For BSDA (Basic Service Demat Account) AMC fee is free for the first year, after that Rs 700 will be charged.
ICICI Direct Account cannot be closed online. To close the account, you need to download the account closure form or visit the ICICI Bank branch and submit an application for Account Closure. It may take up to 7 working days to close the account after submitting the application for account closure. Once the account is closed, you will receive an SMS informing the same. ICICI Demat and Bank account can also be delinked by the customer by submitting an application for the same. There are no charges levied on account closure by ICICI Direct.
To close the ICICIDirect trading account the process is online. You can call on customer service and request to close the trading account. They will verify and approve the request over the phone. It will take 5 to 7 working days after the call to close your account.
Demat account is linked with ICICI Bank, so you can’t close your Demat account online. To close Demat account, one needs to visit the nearest ICICI Bank branch where they have Demat service desk. You need to carry your original PAN card. Submit physical application form, attach a copy of self-attested PAN card. Once your request is accepted, ICICI will take 3-4 working days to close your Demat account.
p.s: Before requesting your Demat account closure request, you need to sell your holdings or transfer your existing holdings to another Demat account.
