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.
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ICICI Direct Annual Charges
ICICI DirectĀ is one of the oldest and most well-known full-service brokers in India. So, when it comes to using full-service broker services it becomes essential to consider various charges.Ā
As you already knowĀ Charges for demat account in ICICI include the opening charges, annual charges or account maintenance charges, transaction charges, etc. Here AMC charges are paid to ensure the safety and security of your holdings in the demat account.Ā
These charges are imposed annually by ICICI Direct and are only imposed on the demat account. But it varies according to the brokerage plan you opt for.
Confused?
Well! ICICI direct offers different brokerage plans to its users. Among those plans, one is discounted brokerage plan, ICICI Direct NEO, and others are as per the full-service brokerage model.
Here ICICI Direct account opening charges for both plans are zero but the for the default brokerage plan, the AMC charges areĀ ā¹700 per annum from the second year onwards.
ICICI Direct AMC Charges
AMC charges
ā¹ 700 per annum from second year onwards
ICICI Direct NEO Annual Charges
ICICI Direct offered NEO, the discount brokerage model offered by the broker under which you can trade in futures at zero cost. Along with these ICICI NEO charges for other segments are flatĀ ā¹20 per trade.
Here not only the brokerage but the investor can reap the benefit of low AMC charges as well. If you have subscribed for this plan then you have to payĀ ā¹300 AMC from the first year onwards.
ICICI Direct NEO AMC
AMC charges
ā¹ 300 per annum from first year onwards
How to Pay ICICI Direct AMC Charges?
If your account is active then ICICI Direct AMC charges are deducted directly from your trading account. Make sure you maintain enough funds in the trading account to avoid any penalty.
You can check the AMC charges under the ledger option in ICICI Direct app.
Also, if you fail to maintain the required amount in the trading account for AMC charges then your account becomes dormant and you will not be able to make any transactions to and from your demat account.
In order to transfer or use your holdings, you have to place the request for reactivation for which extra fees are imposed by the stockbroker.
How to Avoid AMC Charges in ICICI Direct?
Here choosing the full-service brokerage plan provides you the relaxation to pay AMC charges in the first year. However, from the second year onwards, you need to pay fees equal toĀ ā¹700 per annum.
You have to pay these charges till your account is active. However, if you are not using ICICI Direct account, then it is better to close the demat account to avoid paying AMC charges in ICICI Direct.
ConclusionĀ
ICICI Direct is one of the most popular and well-known brokers in India. Its charges are competitive considering other full-service brokers in the country. ICICI Direct AMC charges for a trading account and a Demat account are different.Ā
ICICI Direct AMC charges for the Demat account are Rs. 700 while for NEO you can reap the benefit of low Annual Maintenance charges.Ā
