ICICI Bank Demat Account: A Comprehensive Guide

ICICI Bank offers a demat account to its customers, allowing them to hold and manage their securities in an electronic format.

To open a demat account with ICICI Bank, you'll need to submit a few documents, including your PAN card, ID proof, and address proof.

The account opening process is relatively straightforward and can be done online or through a branch visit.

ICICI Bank charges a maintenance fee of ₹0 per annum for its demat account, making it a cost-effective option for investors.

With an ICICI Bank Demat account, you can enjoy a range of features and benefits that make investing and managing your portfolio a breeze.

You can hold your investments securely and electronically, reducing the risk of loss, theft, or damage. This is because your securities are stored in electronic form, rather than physical share certificates.

One of the most convenient aspects of an ICICI Demat account is that you can buy, sell, and transfer securities online, anytime, anywhere. You can access your account through online trading platforms like ICICI Direct.

An ICICI Demat account allows you to invest in a wide range of securities, including stocks, mutual funds, bonds, exchange-traded funds (ETFs), and government securities. This enables you to diversify your investment portfolio and spread risk across different asset classes.

You can also apply for shares in Initial Public Offerings (IPOs) and Follow-on Public Offerings (FPOs) online and receive allotments directly into your Demat account.

ICICI offers a 3-in-1 Demat account, which includes a Demat account, a savings account, and a trading account, all in one place. This makes it easier to manage your finances and investments.

Here are some of the key features of the ICICI Demat account:

You can also get exclusive recommendations from expert advisors at ICICIdirect on individual stocks, including buy price, target price, stop loss, and more, based on research.

With ICICIdirect Prime plan, you can pay brokerage as low as 0.07% in the delivery segment. This can help you save money on brokerage fees and invest more.

ICICI also offers a revolutionary feature called eATM or Equity ATM, which allows you to receive money into your bank account at the very moment of selling shares. This can be a huge advantage if you need quick access to your funds.

Lastly, ICICI Demat account holders can enjoy a range of benefits, including Rs 20K free brokerage, zero charges for Demat account opening, and an all-inclusive low brokerage plan.

To open a Demat account with ICICI, you'll need to meet certain eligibility criteria. Anyone can open a Demat account with ICICI, including non-resident Indians (NRIs).

You can even open a Demat account in a minor's name with the help of their parents or guardian. However, until the minor turns 18, the parents or guardian will be in charge of the account.

There is no minimum investment amount required to open an ICICI Direct 3-in-1 account. This means you can start trading without having to meet a specific investment threshold.

You can choose to open multiple Demat-trading accounts with ICICI and map them according to your preference. However, you can only link one NRE or NRO account with your Demat account.

Here are the different types of accounts you can open depending on your NRI account:

To operate and manage your ICICI Demat account from abroad, you can repatriate funds by maintaining a repatriable demat account. This allows you to send money back to your home country.

A non-repatriable demat account, on the other hand, does not permit the repatriation of funds overseas.

You can open a demat account through the online method, which is quicker and more efficient. This allows you to trade in less than 48 hours, including in-person verification.

The offline method is also an option, but it's not as fast. Both methods require a detailed KYC to be done.

A demat account can be credited when you buy shares through your trading account, and it gets debited when you sell shares through your trading account.

Opening a demat account can be done through the online or offline process, and both require a detailed KYC to be done.

The online process is quicker and more efficient, allowing you to trade in less than 48 hours, including in-person verification.

To open a demat account online, you need to select your broker cum DP based on factors like services provided, reputation in the market, and online interface.

You can start the online process by visiting the website of the broker and entering your basic details and signing up.

The online demat account process involves entering Aadhaar details, uploading documents, and authenticating through an OTP sent to your linked mobile number.

In-person verification is still required, which can be done through an authenticated video call or by visiting the designated centre with all documents.

The online demat account opening process happens in just less than 2 days, while the offline process can take 5-7 days.

For NRIs, the online process is more convenient, allowing them to open a demat account without coming to India.

Here are the steps to open an ICICI Direct Demat account online:

For those who prefer the offline process, visiting an ICICI branch in India is required to fill out the account opening form and submit photocopies of necessary documents.

The bank's representative will verify your documents before opening the Demat account.

Here are the steps to open an ICICI Demat account in person:

Managing your Demat account from abroad requires some planning, but it's definitely doable.

You can repatriate funds or send money abroad if you maintain a repatriable Demat account. A non-repatriable Demat account, on the other hand, does not allow the repatriation of funds overseas.

To manage your ICICI Demat account from abroad, you'll need to follow some easy steps.

ICICI Bank Demat Account fees and charges are quite straightforward. There are no account opening charges for both Regular and Basic Services Demat Account (BSDA).

The annual maintenance charge for Regular Account holders is Rs 700, but it's waived off for the first year. For BSDA accounts, the charges depend on the equity holding value. If it's up to 50%, there are no charges, but above that, the tariff for Regular Account applies.

For debt securities, the charges are zero up to Rs 1 lakh. It's always a good idea to check your account status to see if you're eligible for any exemptions.

Brokerage charges vary for NSDL and CSDL, so be sure to check the current rates before making any trades. You can also consider trading at www.icici.com, which has zero charges for both Regular and BSDA account holders.

Here's a summary of the sell charges:

It's essential to note that there may be additional charges and fees depending on the investments you purchase. Always review your account statements to ensure you're aware of any fees or charges applied.

If you need to withdraw funds from your ICICI Demat Account, you can do so, but the process varies depending on the type of account you have.

NRIs with repatriable accounts can withdraw funds and remit them abroad using ICICI's transfer options, such as the Money2World platform.

Non-repatriable accounts, on the other hand, will require the withdrawn funds to be transferred to a Non-Resident Ordinary (NRO) account.

You can deposit funds to your ICICI Demat Account from abroad through banks or online providers like Wise. Wise can send transfers within seconds on popular routes.

Banks may charge a high transfer fee or expensive exchange rate for international transactions. However, Wise offers a low-cost way to send money to India.

Wise will never charge a hidden fee or exchange rate markup, so you can be sure you're getting a fair deal.

Withdrawing funds from your Demat account is a straightforward process.

NRIs with repatriable ICICI Demat accounts can withdraw funds and remit them abroad using the bank's transfer options.

You can use the Money2World platform to facilitate overseas transfers from your ICICI Bank Account.

Non-repatriable accounts will require the withdrawn funds to be transferred to a Non-Resident Ordinary (NRO) account.

This means you'll need to follow a different procedure if you have a non-repatriable account.