ICICI Direct Prime Plan Review: The ICICI Direct which is a part of ICICI Securities ranks number one in the full-service stockbrokers’ list. It is armed by the leading private financial services provider ICICI Group which is in existence since 1994. The high-quality and customized services along with the 3-in-1 account facility are what the company counts on to be able to capture such a vast number of active clients.
ICICI Direct has been number one in terms of active customers until 2019 when the top discount broking firm Zerodha toppled them with a client base of more than 2 million. However, ICICI Direct is the most visited trading platform in India.
ICICI Direct has different brokerage plans for its Indian and NRI customers. In this article, we will quickly review its popular plan – ICICI Direct Prime Plan, which offers an eATM facility and helps to reduce the brokerage charges.
Different ICICI Direct Prime Plan with Charges
| Prime Plan | Cash % | Margin / Futures % | Options (Per Lot) | Currency Futures, Options & Commodity Futures | eATM Limit | Special MTF Interest rates/LPC (% per Day) |
|---|---|---|---|---|---|---|
| ₹299 | 0.27 | 0.027 | ₹40 | ₹20 per order | ₹2.5 lakhs | 0.04 |
| ₹999 | 0.22 | 0.022 | ₹35 | ₹20 per order | ₹10 lakhs | 0.035 |
| ₹1,999 | 0.18 | 0.018 | ₹25 | ₹20 per order | ₹25 lakhs | 0.031 |
| ₹2,999 | 0.15 | 0.015 | ₹20 | ₹20 per order | ₹1 Cr | 0.024 |
Note: 18% GST will be applicable on the Prime Plan amount. The validity of all the Prime Plans will be one year.
ICICI Direct Prime Plan Review – Minimum Brokerage
Following is the minimum brokerage charged:
Delivery Segment
| Prime Plan | Transaction upto | Brokerage in (₹) or in % |
|---|---|---|
| ₹299 | ₹9,259 | ₹25 or 0.75% whichever is lower |
| ₹999 | ₹11,363 | ₹25 or 0.75% whichever is lower |
| ₹1,999 | ₹13,889 | ₹25 or 0.75% whichever is lower |
| ₹2,999 | ₹16,667 | ₹25 or 0.75% whichever is lower |
Systematic Equity Plan (SEP)
| Prime Plan | Transaction upto | Brokerage in (₹) or in % |
|---|---|---|
| ₹299 | ₹4,000 | ₹10 or 0.75% whichever is lower |
| ₹999 | ₹4,545 | ₹10 or 0.75% whichever is lower |
| ₹1,999 | ₹5,556 | ₹10 or 0.75% whichever is lower |
| ₹2,999 | ₹6,667 | ₹10 or 0.75% whichever is lower |
Margin Segment
| Prime Plan | Transaction upto | Brokerage in (₹) or in % |
|---|---|---|
| ₹299 | ₹55,555 | ₹15 or 0.75% whichever is lower |
| ₹999 | ₹68,182 | ₹15 or 0.75% whichever is lower |
| ₹1,999 | ₹83,333 | ₹15 or 0.75% whichever is lower |
| ₹2,999 | ₹100,000 | ₹15 or 0.75% whichever is lower |
Steps to get the Prime Plan
- Login to ICICIdirect.com
- Go to ‘Customer Service’
- Go to the ‘My Profile’ section
- Click on ‘Select Brokerage Plan’
- Choose ‘Prime Plan’
- Select one of the prime plan – ₹299, ₹999, ₹1,999, or ₹2,999
- Submit the request
ICICI Direct Prime Plan Review – Benefits
The ICICI Direct prime plan is beneficial for all kinds of investors & Traders and can avail the lower charges by choosing the right subscription plan. The main key benefits of the plan are:
- Instant payout after-sales instead of after 2 days in the normal scenario.
- Access to exclusive ‘Research content’ and ‘Website’ for all Prime cards.
- Special reduced ‘Interest’ on delayed payments/MTF carry forward positions in Equity Margin Product.
- NCD/Bonds transactions along with penny stocks charged at a lower brokerage than that of cash.
- In Currency and Commodity segment, Call and Tradeline and system square off charges will be applicable at the rate of Rs. 50 per order.
Closing Thoughts
ICICI Direct prime plan is designed to reduce the brokerage charges and also get money instantly in the bank account when selling shares. This plan also offers exclusive research to members.
We hope you have liked the ICICI Direct prime plan review and find it helpful. You can read the detailed ICICI Direct review 2021 and find more insights. Do let us know your views in the comment section below. Happy trading!
How to upgrade a prime plan in icici direct