ICICI Bank Demat Account

ICICI BANK DEMAT ACCOUNT CHARGES DOCUMENTS AND SERVICES

INTRODUCTION TO ICICI BANK DEMAT ACCOUNT

The very important step to start trading in the stock market is, to have a Demat account. If you’re looking to buy& sell securities like shares, mutual funds, digital gold or ETFs online, a dematerialized account is absolutely essential. Dematerialized form is the form where the physical securities are converted into electronic form.

ABOUT ICICI BANK DEMAT ACCOUNT

It offers the investors a three-in-one Demat account which is seamlessly linked to trading and bank accounts. Linked to the trading account, ICICI Demat account allows the investor to buy and sell as well as transact a whole lot of products, other than shares and stocks, easily, quickly and without any paperwork and all conveniently under one roof, and within the comforts of your home.

ICICI Demat account allows you to manage your online trading account, as well as savings, account on a single platform, allowing you to save on time and energy. When you buy shares, they get automatically transferred into your Demat account immediately without any complications. There is no risk of loss involved, and you don’t have to carry it anywhere. 

ADVANTAGES OF ICICI BANK DEMAT

  1. Trading is available in both BSE and NSE.
  2. 3-in-1 account integrates your banking, broking and demat accounts. All accounts are from ICICI and very well integrated. This feature makes ICICI the most interesting player in the online trading facility.
  3. Low bandwidth website is available for slow internet connection or for trading from mobile devices.
  4. Money from selling stock is available in ICICI bank account as soon as the ICICI Direct receive it.

HOW TO OPEN DEMAT ACCOUNT – ICICI BANK SERVICES

ICICI direct is one of the largest retail stock brokers in India. It is part of the ICICI Group. The services offered include equity, commodity, and currency trading at BSE, NSE, and MCX.

The company also offers Mutual Fund & IPO, Fixed deposits, Bond, NCD, wealth products, Home Loans, Loans against Securities, etc.

DOCUMENTS REQUIRED

  1. PAN Card
  2. voter ID card, a driver’s licence, passport ( Address Proof)
  3. Passport photograph
  4. Bank account details
  5. Income proof

Step 1: Visit ICICI site www.icici.com

Click on ‘Apply Online – Resident Account’ under the “Open an Account” Section.

Select the type of account that you want to open. Duly fill in the complete details. You can also create your own User ID (which would be case sensitive) and password at the time of registration. Click on ‘submit’ once you have filled in all the details.

Step 2: The Bank’s executive will visit you within two working days of the submission of the form to complete the other account opening formalities.

Step 3: Keep the below documents handy by the time of visit of Bank’s executive.

  • Two photographs of the applicant & one photograph of the nominee.
  • PAN card copy (original for verification and xerox copy for submitting with the form).
  • Address proof (Direct original for verification and xerox copy for submitting with the form)

ICICI, and stockbroking companies provide online service to open the Demat account online by logging on to their websites. You need to submit a duly filled account opening form and KYC form. Along with this, you will need to attach copies of PAN Card, Residence Proof, ID Proof, and passport-sized photographs.

CONCLUSION

ICICI direct offers a unique and wide range of Products and features like One Click Equity, Margin Trading Funding (MTF),Smart Trading features and ease of investing in equity with Systematic Equity Plan and much more. 

To become a registered user of ICICI securities, you will have to first open a savings/current account and Demat account with ICICI. A 3-in-1 account is a combination of the bank, trading, and demat accounts. These accounts are linked together for seamless transactions between them. Unlike most of the online trading companies in India which require transferring money to the broker’s pool or towards deposits, at ICICI Direct you can manage your own demat and bank accounts through ICICIdirect.com. 

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