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ICICI direct Account Opening Process and Charges 2024

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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.

ICICI Direct Account Opening Charges

Trading Account Opening ChargesFree
Trading AMCFree
Demat Account Opening ChargesFree
Demat AMCRs 300 per annum

Open Account in ICICI direct

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:

  • Visit the website or follow the link provided:
    Open ICICI direct Account
  • Enter your mobile number and verify it with an OTP code.
  • Select whether you want to be assisted by an account manager or not.
  • Enter your email ID and verify it again with an OTP code.
  • Enter PAN card details and your date of birth
  • Now complete KYC process.
  • Add your bank account details.
  • Verify your Aadhar card number using Digilocker.
  • Upload your passbook or a voided check with signature.
  • Select the button to open a new demat account.
  • Add an authorised representative for your account by entering their details.
  • Select the brokerage plan for the demat account.
  • Complete your live photo verification.
  • E-sign the documents with VID or Aadhar card.

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.

ICICI direct Demat Account Opening Video

Documents for ICICI direct account

There are some documents required for opening ICICI direct account. Here is the list of all required documents:

  • PAN card
  • Aadhar card
  • Passbook or voided cheque
  • Bank statement for the last six months
  • Photo

Offline ICICI direct demat account opening process

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.

Closing ICICI direct Demat account

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:

  1. Click on this link : ICICI direct Account Closure Form
  2. Download and take a print out of this form.
  3. Now fill DP ID, ID, account holder's name and other information.
  4. Attach the required documents to the form.
  5. Take this form to your branch.

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:

  • There should be no shares/securities in the demat account; if there are, you must transfer them to another demat account. You can get a receipt for this service at DIS. DP.
  • The account should not have a negative balance.
  • All outstanding payments and settlements must be cleared.
  • If you have a joint demat account, approval from all members is required.

Benefits of ICICI direct account

  • ICICI direct offers a 3-in-1 account facility.
  • Full service stockbroker, i.e. their financial advisor helps us manage a portfolio.
  • Instant withdrawal via e- ATM.
  • Free account opening and 1st year AMC from Demat is also free.
  • 45+ investment and liability products like: Stocks, IPO, MF, Insurance, etc.
  • Advanced trading platforms
  • Provide ICICI direct Breeze API service free of charge.
  • Wide range of trading and investment products available

Is ICICIDirect Good and Reliable Broker?

Even though the brokerage charges are higher in ICICI Direct, you will enjoy all the products offered by a full service broker. At present, it is one of the most prominent stock broker catering to the largest user base. This fact, in itself, proves how good and reliable ICICI Direct is.

Plus, compared to discount brokers, ICICI Direct offers a wide range of investment options. Being a leading company, ICICI Direct offers premium customer service whether you are trading, investing, or banking. Finally, the guidance offered by ICICI Direct is unparalleled.

New Account Opening - How to join ICICIDirect?

There are many ways to join the ICICI Direct family. You can open your account with great ease through offline and online channels. The steps to open an ICICI Direct account have already been detailed above.

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New Account Opening offers with ICICIDirect

Unfortunately, no. At present, ICICI Direct does not have any new account offers.

ICICIDirect Promo Code

There are no promo codes for those opening a new ICICI Direct account. However, there are many offers for ICICI bank account holders, which can be explored.

ICICIDirect Referral Code

ICICI Direct offers an attractive referral program where the following benefits are available to you and your friends. If you friend give funding cheque between 1 to 5 lacks, you will get Rs 1000 as referral bonus in brokerage. The higher is amount, the more referral brokerage you get.

    In this section we have covered most frequest scenario you have about new account opening. Does ICICIDirect have any promo code? Does ICICIDirect have any special Offers? What are the refferal benefit with ICICIDirect if I refer my friends or family? How can I start my trade with ICICIDirect? Is ICICIDirect good and reliable?


Since 31st December 2000, ICICI has enforced to maintain a quarterly minimum balance of Rs 5,000 in ICICI Bank Savings Account linked with ICICI Direct Trading Account. Failure to do so will result in the imposition of a fee of Rs 300 per month.


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.


Follow the given procedure to transfer money between an ICICI direct trading account and another bank account :-

  •  Log in to your ICICI direct account.
  •  Go to the "Funds" page and click on "Add funds from other banks".
  •  Enter the amount.
  •  Select the payment mode: UPI, Netbanking and NEFT/RTGS.
  •  For UPI payments, enter UPI ID and continue.
  •  Verify the bank information and submit.
  •  Open the appropriate UPI app and confirm the payment notification.

Once your funds are transferred to the ICICI direct trading account, you will receive a notification about the successful transaction status.


For BSDA (Basic Service Demat Account) AMC fee is free for the first year, after that Rs 700 will be charged.


If you want to close the ICICI direct Demat account, download the ICICI direct Demat account closure form from the given link. And attach the required documents and send it by courier to DP or nearest branch.


The 16-digits demat account number is a combination of DP ID and client ID. To get the client ID and DP ID from ICICI direct, do the following:

  • Log in to your ICICI direct account.
  • Click on "Trading & Investing" and go to the "Stock Trading" option.
  • Scroll down the screen and go to the "Demat Allocation" section.
  • This will display your demat account number (16 digits).
  • DP ID = The first 8 digits of the demat account
  • Client ID = The remaining 8 digits of the demat account.


If you have forgotten your ICICI direct account password, you can reset it using the following link:
You can reset your password in 3 ways:

  • Generate OTP.
  • Via your bank account
  • Via the online grid


Last Updated on 2023-09-14