DP Charges in ICICI

Certain charges such as AMC, Custodian, DP, etc. are an important part of the fee list while opening a demat account with any broker. So, today we are going to have a quick look at the DP charges in ICICI.

ICICI Direct, by the way, is one of the top stockbrokers in the country.

So, let’s get started!

DP Charges in ICICI Bank

As part of the ICICI Direct Charges, DP charges are imposed by the depository whenever the transaction is made in your ICICI demat account. 

Here are few important points associated with DP charges:

• It is imposed per scrip per day, thus it is fixed and does not depend upon the turnover value of trade. 
• It is only levied whenever you sell securities i.e. debit shares from your demat account. 

Below are the DP charges in ICICI charged by NSDL and CDSL depositories:

From the above table, we can clearly view that this bank-based full-service broker levies DP charges worth ₹20 + GST@18% = ₹23.6 for both CDSL and NSDL demat account. 

Let’s gain a better understanding of these charges by considering three different situations:

Situation 1:

Mr. X sold 100 shares of Infosys and 100 shares of TCS on a particular trading day. Since DP charges are charged per scrip therefore he had to pay DP charges separately for these two transactions. 

Total DP charges in ICICI for the above transactions are:

Debit of 100 shares of Infosys= ₹23.6 (₹20+₹3.6)

Debit of 100 shares of TCS= ₹23.6 (₹20+₹3.6)

Situation 2:

Now let’s consider another scenario. Here Mr. X sold 50 shares of Infosys at 10 AM and 50 shares on the same day at 3 PM. 

Here, however, he debited shares twice, still he paid DP charges of ₹23.6 only once, as DP charges are levied only once per scrip per day. 

Situation 3:

Last case, where Mr. X sold 50 shares of Infosys on Monday and again did a transaction of 50 shares of Infosys shares on Tuesday. 

Since he made transactions of the same script on two different days, again he ended up paying DP charges twice. 

The total DP charges were ₹47.2 (₹23.6+₹23.6)

Wrapping Up

DP charges are generally hidden and are not mentioned in the contract note, availing its information is good before you process an application for opening a demat account with ICICI Direct.

Thus, it is good that you visited A Digital Blogger and got your curiosity cleared, implying you are an intelligent investor.

In case you are looking to get started with the demat account or have any queries around the charges, feel free to get in touch with our technical team by putting your details in the form below: