Opening the ICICI Demat Account and trading account is associated with certain annual charges called the Annual Maintenance Charges. These charges are essential to keep your account active. In this document, we shared the complete details of the ICICI Direct AMC Charges.
At the time of opening an account with a broker, there are other charges as well about which we should know beforehand. Some of these charges are account opening charges, brokerage charges, margin requirements for intraday trades, etc.
You can apply either online and offline and start trading in any segment right away.
However, to maintain your Demat account, it is essential to pay AMC charges. These charges are imposed annually. The charges differ for both trading and demat accounts.
So for all those having an account with the firm and for those looking forward to opening the account, it is essential to learn about these charges.
ICICI Direct Demat AMC Charges
The first thing that we should know is that AMC is the charge that is paid to the broker for the maintenance of their Demat as well as trading accounts which are paid once in a year.
ICICI demat AMC charges are levied to handle and monitor all the transactions through the Demat account safe and secure.
Once a client opens a Demat account with any broker, he/she is liable to pay some charges to the broker for the services offered by them.
Account opening charges are one of the initial charges that an account holder needs to pay. Annual maintenance charges are also one of the charges that need to be paid whether the account is in use or not.
The presence of an account with a broker automatically calls for AMC charges to be paid. Different brokers have fixed different account opening and AMC charges.
AMC Charges details for Demat:
AMC Charges details for Demat
Demat Account opening
In case you want to close your current ICICI Direct Demat account or wish to transfer it to another broker, you must officially close this account using the ICICI direct current process for the closing of the account.
ICICI Direct AMC charges for the Demat account opened with them are Rs. 700 for every year. These charges need to be paid to the broker every year. Although the account opening charges for a Demat account are nil however, these AMC charges need to be paid once the account is registered with them.
This is a best practice because even if you are not using a Demat account, you would still be liable to pay ICICI direct AMC charges for the account every year.
Therefore, you should get an account closing form and submit it to the broker after signing it so that you do not have to pay the maintenance charges every year.
Before closing the account, please make sure to transfer or sell off all the holdings and settle all the disputes or legal actions associated with your demat account.
ICICI Direct Trading Account Charges
If you open a trading account with ICICI Direct, you will be imposed with two types of charges –
account opening charges
annual maintenance charges.
In the case of ICICI Direct trading account, the account opening charges are Rs. 975. These need to be paid as a one time charge only at the time of opening of the account.
On the other hand, the ICICI Direct AMC charges for a trading account are zero.
AMC Charges details for trading:
AMC Charges details for trading
Trading Account Opening Charges
ICICI Direct is one of the most popular and well-known brokers in India. Its charges are competitive considering other full-service brokers of the country. ICICI Direct AMC charges for a trading account and Demat account are different.
ICICI Direct AMC charges for Demat account are Rs. 700 while the trading account is 0.
However, along with ICICI AMC Charges there are other charges and tax too which are levied by the ICICI Direct such as brokerage charges, Goods and Service Tax (GST), Securities Transaction Tax (STTs), etc.