The account is actually a 3-in-1 account i.e a trading account, Demat Account and the bank account that you can easily open online. Here are the various charges for the ICICI Direct account: ICICI Direct Account Opening Charges: ICICI Direct trading account can be opened at a flat fee of Rs 975.
Demat accounts attract annual fees and maintenance charges. It is a good ea to close all your inactive or zero balance demat accounts. If there are active balances, they can be consolidated into one account and the remaining redundant demat accounts can be closed.Closing a involves visiting the office or branch by any of the demat account holders and submission of requisite form and documents.FormThe account can download the application form from the website of the depository participant or DP.DetailsThe following details need to be mentioned:1. DP ID and Client ID2. Existing details like name and address – it should match the records.3. Reason for closing the account. All holders are required to sign the closure request form.
POA holder (if any) cannot sign the closure request.TransferIf the demat account has any balance (holdings), details of the account to which this balance needs to transferred must be mentioned in the form. The transfer can also be carried out by filling up a delivery instruction slip (DIS) before closure of the account.ProcessOnce the form is submitted and is in order, it takes 7 to 10 business days to close the account.ChargesThere are no charges for account closure.Points to note.If the account has any negative cash balance, it must be settled before submitting the request for its closure.Unused delivery instruction booklet slip should be submitted back to the DP.(The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.).
Demat accounts attract annual fees and maintenance charges. It is a good ea to close all your inactive or zero balance demat accounts. If there are active balances, they can be consolidated into one account and the remaining redundant demat accounts can be closed.Closing a involves visiting the office or branch by any of the demat account holders and submission of requisite form and documents.FormThe account can download the application form from the website of the depository participant or DP.DetailsThe following details need to be mentioned:1. DP ID and Client ID2. Existing details like name and address – it should match the records.3. Reason for closing the account.
All holders are required to sign the closure request form. POA holder (if any) cannot sign the closure request.TransferIf the demat account has any balance (holdings), details of the account to which this balance needs to transferred must be mentioned in the form. The transfer can also be carried out by filling up a delivery instruction slip (DIS) before closure of the account.ProcessOnce the form is submitted and is in order, it takes 7 to 10 business days to close the account.ChargesThere are no charges for account closure.Points to note.If the account has any negative cash balance, it must be settled before submitting the request for its closure.Unused delivery instruction booklet slip should be submitted back to the DP.(The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.).