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ICICI Direct Brokerage Plans 2024: 4 Different Plans to Know About
What are the ICICI Direct Minimum Brokerage Charges?
What are the ICICI Direct Equity Delivery Brokerage Charges?
ICICI Direct is one of the biggest Indian retail stock brokers with a wide variety of services on offer such as Currency Trading, Commodity Trading and Equity Trading. It offers various products, including loans against security, home loans, wealth products, bonds, mutual funds, fixed deposits, IPO and more. Today, it is widely known in India for its multiple brokerage plans which include Neo Plan, Lifetime Prepaid Brokerage Plan, Prime Plan and I-Secure Plan. Find out about each of these ICICI Direct brokerage plans.
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ICICI Direct Brokerage Plans 2024: 4 Different Plans to Know About
There are four types of ICICI Direct brokerage plans available for customers.
ICICI Direct Neo Plan
Account opening into ICICI direct neo plan is absolutely free and the amc charges is Rs. 300 per year under neo brokerage plan.
In the ICICI Direct Neo plan, brokerage-free trading is offered in Equity Futures. Actually this is the reason why they are calling this zero brokerage plan.
The brokerage charge is 20 rupees per order for Options and Equity Intraday. For equity delivery, the brokerage charge is 0.55% of transaction amount.
However Currency F&O, and Commodity F&O trading each incur a brokerage fee of Rs 20 per executed order. For NCDs/Bonds, the brokerage rate is 0.75%.
Margin funding is available at a very low interest rate of 9.65% per annum.
you can check icici direct neo brokerage plan charges and more details here.
Read on: ICICI Direct To Zerodha – How To Transfer Shares?
ICICI Direct Lifetime Prepaid Brokerage Plan
In the ICICI Direct Lifetime Prepaid plan, customers can get discounted brokerage rates upon paying a fixed one-time upfront fee. As many as 6 different prepaid plans are available in total, with each plan having 15-year validity.
ICICI Direct offers a Prepaid Brokerage Plan with varying prepaid amounts and corresponding rates for different trading segments. The plan includes Equity Cash, Equity Future, Equity Options, Currency F&O, and Commodity Futures. Depending on the prepaid amount chosen, the brokerage rates differ.
For an investment of Rs 5,000, the rates are 0.25% for Equity Cash, 0.025% for Equity Future, and Rs 35 per lot for Equity Options, Rs 20 per order for Currency F&O, and Rs 20 per order for Commodity Futures.
The rates gradually decrease as the prepaid amount increases, reaching the lowest at Rs 150,000, where the rates are 0.12% for Equity Cash, 0.019% for Equity Future, Rs 10 per lot for Equity Options, and Rs 20 per order for both Currency F&O and Commodity Futures.
ICICI Direct Prime Plan
In the ICICI Direct Prime Plan, brokerage charges are reduced. While selling shares, traders can get money in their bank account immediately. Members can also get the opportunity for exclusive research with the help of this plan.
There are 6 prime plans available to customers at different rates. In each plan customers can get an upfront brokerage reduction across all derivative and equity products. All the plans have lifetime validity (if opened after 10.02.2022) except the lowest plan of Rs. 299 which has validity of one year only.
ICICI Direct offers the Prime Plan with varying brokerage charges for different segments of trading. The plan includes equity cash, equity futures, equity options, currency derivatives, and commodity futures.
The brokerage charges for equity cash range from 0.25% for the Rs 299 plan to 0.07% for the Rs 9,999 plan. For equity futures, the charges vary from 0.025% to 0.007%, and for equity options, it ranges from Rs 35 per lot to Rs 7 per lot.
Both currency derivatives and commodity futures have a flat rate of Rs 20 per order across all plans. The Prime Plan comes in 6 tiers with different pricing options at Rs 299, Rs 999, Rs 1,999, Rs. 2999, Rs. 4999 and Rs 9,999.
ICICI Direct I-Secure Plan
In the I-Secure plan, flat brokerage is offered in terms of percentage, regardless of the turnover value. This plan is appropriate for investors and traders who are in search of fixed and secured brokerage.
The ICICI Direct I-Secure Plan imposes specific brokerage charges across various trading segments. For Equity Delivery, the brokerage stands at 0.55%, while Equity Intraday incurs a 0.275% charge. Trading in Equity Futures attracts a brokerage of 0.05% on buy side + flat 50 rupee per order on sell side and for Equity Options, the charge is Rs 95 per lot on buy side + flat 50 rupee per lot on sell side.
In the Currency F&O segment, the brokerage is Rs 20 per executed order, and the same applies to the Commodity F&O segment. NCDs / Bonds/penny shares trading involve a brokerage of 0.25%. These brokerage rates outline the cost structure for different types of trades within the I-Secure Plan offered by ICICI Direct.
it is clear here that I secure plan very costlier than the prime plan. I think they are trying to secure the I (icici) under this plan. By charging higher brokerage they are securing icici direct profitability.
you can verify these charges explained above from icici official website.
What are the ICICI Direct Minimum Brokerage Charges?
ICICI imposes minimum brokerage charges for various ICICI Direct trading plans.
In the I-Secure plan for the the minimum brokerage is set at Rs 25 per trade or 2.5% of the trade value for all the transactions under Rs. 50,000.
For the Prime plan, I could not find any minimum brokerage which is a good thing for traders considering icici direct for their demat account.
Also, ICICI applies a flat brokerage rate of 5 paisa per share (Rs 0.05) for stocks priced below Rs 10 per share.i.e. penny shares.
Read on: How to Check Dividends Received in Zerodha, Angel One, and ICICI Direct ?
What are the ICICI Direct Equity Delivery Brokerage Charges?
Equity Delivery (Cash & Carry) brokerage is charged by ICICI Direct for BTST trades. You have to pay 0.55% brokerage charges in I-Secure plan for BTST.
In the ICICI Direct I-Prime plan, the charges vary between 0.07% to 0.25%. No additional fee or special charge is applicable for ICICI BTST trades.
In the ICICI Direct Money saver plan, the brokerage charges for equity delivery are 0.29%.
In the ICICI Direct Neo Brokerage Plan, the brokerage charges for equity delivery are 0.55%.
It is important for you to remember that BTST brokerage is not similar to intraday trading. BTST trades are regarded as Cash & Carry trades or Delivery trades for the purpose of brokerage calculation.
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Conclusion
Overall, their brokerage plans are little bit complex to understand as a layman. ICICI direct used to be a full service broker that’s why most of their brokerage plans have very high brokerage charges.
The Trend of charging in % basis in delivery to per lot in options has become old after the entry of Discount brokers in India. So ICICI Direct have also launched a Zero Brokerage plan which is called the “Neo Plan” which seems a good option for traders. But for investors icici direct neo plan would be costly because of 0.55% delivery charges here . Still if you can afford this as an investor you may proceed opening account in icici direct.
My all time favourite demat accounts are upstox for traders and Angelone for investors.
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