ICICI Bank offers many investment and trading opportunities in the country. Currently, they are offering a 3-in-1 ICICI Direct NRI Account.

This account will work as a savings, Demat, and trading account for them. This ICICI Direct NRI account review will help you analyze every aspect of the account in detail.

This article will teach us about the ICICI Direct NRI account charges, opening procedure, products, and services inferred. Let’s know more about them.

Broker Type Full Service Broker
Account Opening Charges Rs.4,000
AMC Rs.1200 + 18% GST
Delivery Trading Allowed
MF Investment Allowed

Why invest with an ICICI Direct NRI account?

Many NRIs open their account with ICICI Direct as the company has a big brand name and has a position to live for. Let’s look at why you should opt for an ICICI Direct NRI account:

  • As part of the ICICI group conglomerate, the company is the leading stockbroker in the country and provides a stable trading platform.
  • They offer extensive investment options, a support desk, dedicated RM, free trading tips, and more. AMO and GTC orders will allow NRI clients to place them even during non-trading hours.
  • Also, NRIs can opt for a 3-in-1 account for the best online trading experience. The brokerage house offers a combination of NRI trading, demat, and bank accounts linked for a paperless and seamless investment experience.
  • NRIs can track their investments and make thoughtful portfolio decisions using auto alerts.

ICICI Direct NRI Account Opening Charges

Account Opening Charges

Rs.4,000

Annual Maintenance Charges (AMC)

Rs.1200 + 18% GST

The NRI account opening charges with the company are competitive. The user needs to pay about 4000 INR for account opening charges.

Also, the ICICI Direct NRI account AMC charges are 1200 INR + 18% (tax). The account opening charges must be paid once, although AMC charges are recurring.

So, consider these charges if you open a NRI account with the brokerage house.

ICICI Direct NRI Account Brokerage Charges

Equity Delivery (PIS)

0.50% - 1.25% of Transaction Value (Depends on Trading Volume)

Equity Delivery (Non-PIS)

0.50% - 1.25% of Transaction Value (Depends on Trading Volume)

Equity Intraday

NA

Equity Future

0.03% - 0.05% of Transaction Value (Depends on Trading Volume)

Equity Option

Rs.70 - Rs.95 per Contract (Depending on Trading Volume)

Commodity Future

NA

Commodity Option

NA

Currency Future

NA

Currency Option

NA

NRIs must know that the intraday facility is unavailable with the brokerage house.

For Equity delivery, the brokerage charges for PIS and non-PIS account ranges from 0.50% to 1.25% of the transaction value.

The real value will depend on the transaction volume. Also, for the Equity future, the price will range from 0.03% to 0.05% of the transaction volume.

The Equity option ranges from 70 to 95 INR depending upon the transaction volume. ICICI Direct NRI brokerage charges are crystal clear; every user knows about them before signing up.


How to open an ICICI Direct NRI account?

Opening up your ICICI Direct NRI account is super easy. The individual can do it online without any issue. Let’s look at elbow steps about how you can do it:

  1. Tap on the button “open NRI account” at the bottom of the page. Alternatively, you can enter the details directly in the section below.
  2. If you click the tab, a form will open, and you can submit your details there. The company executive will call you to submit your details.
  3. The on-call executive will guide you in completing the form and submitting the documents.
  4. Once the process is complete, the company will verify all the details.
  5. Finally, you will receive your NRI demat & trading credentials.

Documents required to Open ICICI Direct NRI Demat & Trading Account

NRI Account Opening Form

Mandatory (Signed by NRI)

PAN Card of NRI

Mandatory

Overseas Address Proof

Mandatory (Driving License, Bank Statement, Overseas Passport)

Indian Address Proof

Mandatory (Aadhaar, Driving License, Indian Passport)

NRE or NRO Bank a/c Cancelled Cheque

Mandatory

OCI / PIO Card

Mandatory

Valid Passport

Mandatory

Valid VISA

Mandatory (Work/Student/Employment/Resident Premit)

PIS Letter from Bank

Mandatory

Passport Size Photograph

Mandatory

Account Opening Charges Cheque

Mandatory

Demat Opening Fee Cheque

Mandatory

Verification of documents is mandatory before opening any account. Here is the list of documents that must be submitted to open your ICICI Direct non-resident Indian account:

  • An applicate must fill up the NRI Account Opening Form & Sign the same.
  • Pan Card submission is compulsory
  • Overseas address proof submission is a must like a passport, bank statement, or driver’s license.
  • Indian address proof documents like a passport, Aadhar card or driver’s license is a must.
  • A valid visa and passport are mandatory.
  • NRI must submit PIO or OCI card.
  • Applicant must submit Passport-size photographs.

The above-listed documents are compulsory for submission.


ICICI Direct NRI Account: Top Features

Here is the list of top offers of ICICI Direct for NRIs.

  • ICICI Direct continuously innovates, showcasing its commitment to advancement. It regularly introduces new features, products, and services to meet NRIs’ evolving needs and preferences and enhance their investing experience.
  • In addition to investment services, they provide integrated banking solutions, allowing NRIs to manage their finances seamlessly through a single platform.
  • The brokerage house assigns dedicated relationship managers to NRI clients, providing personalized assistance and guidance to address their investment needs and concerns.
  • Also, they offer competitive pricing and transparent fee structures, ensuring that NRIs can maximize their returns without being burdened by excessive charges.

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ICICI Direct NRI Demat Account - Products Provided

Equity Delivery

Yes

Equity Intraday

No

Equity Option

Yes

Equity Future

Yes

Commodity Option

No

Commodity Future

No

Currency Option

No

Currency Future

No

Mutual Funds

Yes

As per the guidelines for the NRI account, currency, commodity, and intraday trading are not available for them.

The NRIs can only trade in Equity delivery, Equity option, and Equity future. ICICI Direct NRI Demat Account offers these three products in its deck.

Its interface is comprehensive so that even a newbie can use it without hassle.

The products presented by ICICI Direct NRI Demat Account cater to NRIs’ diverse investment needs and preferences, enabling them to build a well-rounded investment portfolio aligned with their financial goals.

ICICI Direct NRI Trading Account - Services Provided

Demat Services

Yes

Trading Services

Yes

Intraday Services

No

F&O Services

Yes

IPO Services

Yes

PMS or PCG

Yes

The organization’s service desk is fully-fledged as per the set guidelines. Accept Intraday services; they offer some of the best services in the industry.

They offer their users demat, IPO, PMS, and trading services. The ICICI Direct NRI trading account services help the NRIs explore everything on a single platform.

The user can explore these services, which are easily accessible to them. If any guidance is required, then they can contact their relationship manager.

ICICI Direct NRI Desk Helpline & Support

NRI Customer Care Number

1860-123-1122

NRI Email Support

helpdesk@icicidirect.com

Trading Support

Yes, Free

Dedicated Dealer

Yes, Free

Website Support

Facebook Support

Whatsapp Support

NA

Twitter Support

Telegram Support

ICICI Direct NRI support is reliable for people reaching out from other countries.

They have a different department to handle the NRI customer care queries, and they can be reached at 1860-123-1122. The email id for the support is helpdesk@icicidirect.com.

Apart from these options, the applicants can contact the company via their website or social media handles. They ensure that all the queries posted are handled within the stipulated timeframe.

ICICI Direct NRI App & Trading Platforms

Web Trading Platform

Trading Terminal

Available

Algo Trading Platform

Available

Foreign Stocks Trading Platform

NA

Basket Trading Platform

Available

Mutual Fund Investment Platform

Available

The ICICI NRI App and trading platform offer excellent tools for effortless investing, especially for beginners. Here’s why you should try them:

  • The ICICI Direct app for Android and iOS is incredibly user-friendly. Whether you’re using your phone or tablet, you’ll find it smooth and easy to navigate.
  • Their website platform is perfect if you prefer trading from your computer. It’s ideal for those who prefer managing their investments on a larger screen.
  • The brokerage house isn’t just for trading and investing in mutual funds. Everything you need is conveniently available, making it simple to manage your investments.
  • Wherever you are, ICICI Direct is there for you. With mobile and website access options, you can quickly view your portfolio and utilize other services with a click.  They ensure that you’re always in control of your investments.

ICICI Direct NRI Account - Research & Advisory

Fundamental Reports

Available

IPO Reports

Available

Technical Reports

Available

Stock Tips

Available

Daily Top Stock Picks

Available

Relationship Manager

Available

Robo Advisory

NA

This is the best part of working with this organization, as you can access all research and advisory reports.

Users can access IPO reports, technological reports, fundamental reports, and stock tips. A dedicated relationship manager is allotted to NRI to contact a company’s executive whenever required.

The ICICI Direct advisory for NRI will allow them to analyze their equity purchases and optimize their portfolio for better results.


ICICI Direct NRI Charges

This article section focuses on ICICI Direct NRI hidden charges, transaction charges and pledge and margin charges. You can look at the points below for the charges:

  • There are no account closure and reactivation charges.
  • The dematerialization charges are 50 INR for every certificate.
  • There are no call & trade charges for the first 20 calls every month.
  • DP charges are 13.5 INR for every scrip on sale.
  • SEBI turnover charges are 10 INR for every crore.
  • The pledge creation and turnover charges are .02% of the value.
  • The equity option charges are .053% on premium, equity future charges are .0019% (NSE and BSE), and equity delivery charges are .00325% for NSE.

ICICI Direct NRI Demat Account - STT Charges

Equity Delivery

0.1% on buy & sell

Equity Intraday

NA

Equity Future

0.0125% on sell

Equity Option

0.0625% on sell (on premium)

Commodity Future

NA

Commodity Option

NA

Currency Future

NA

Currency Option

NA

ICICI Direct NRI Trading Account - Stamp Duty Charges

Equity Delivery

0.015% on buy

Equity Intraday

NA

Equity Future

0.002% on buy

Equity Option

0.003% on buy

Commodity Future

NA

Commodity Option

NA

Currency Future

NA

Currency Option

NA

ICICI Direct NRI Account - Transaction Charges

Equity Delivery

0.00325% (NSE) & As per Stock (BSE)

Equity Intraday

NA

Equity Future

0.0019% (NSE & BSE)

Equity Option

0.053% (on premium)

Commodity Future

NA

Commodity Option

NA

Currency Future

NA

Currency Option

NA

ICICI Direct NRI Account - Pledge & Margin Charges

Pledge Creation Charges

0.02% of Value

Pledge Invocation Charges

0.02% of Value

Interest on Margin Trading

0.07% per day

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ICICI Direct NRI Account Hidden Charges

SEBI Turnover Charges

Rs.10/ Crore (All Segment)

DP Charges

Rs.13.5 per Scrip only on Sell

GST

18% on (Brokerage + SEBI + Transaction charges)

Account Closure Charges

Free

Reactivation Charges

Free

Dematerialisation Charges

Rs.50 per Certificate

Call & Trade Charges

Free - 1st 20 Calls per Month


ICICI Direct NRI Account Review – Conclusion

ICICI Direct is a premium service provider in the financial industry. The charges may seem high to some people, but their services are among the best.

They have been operating in the Indian industry for many decades and offer many products and services to their users.

Their account opening procedure is relatively smooth, and any NRI finds it simple to work with them.

They offer free trading support and assign a dedicated dealer to every NRI to assist them whenever needed.

We hope that the ICICI Direct NRI Account review will help you with all the required details and help you make the decision.


FAQs on ICICI Direct NRI Account Review

Here is the list of FAQs related to the ICICI Direct NRI account.

How to open an NRI demat account in ICICI Direct?

To open your NRI account online, the applicant must provide their personal details by hitting the tab “open NRI account” at the end of the webpage. Guidance will be provided.

How do you convert ICICI Direct’s account to NRI?

The individual can transform the ICICI Account into an NRI account by providing all documents.

What is AMC for NRIs in ICICI Direct?

The ICICI Direct AMC charges are 1200 INR.

What is Account Opening Fees for NRIs in ICICI Direct?

The account opening charges with ICICI Direct is 4000 INR.

Which Assets are Restricted for Trading in ICICI Direct for NRIs?

The rules state that NRIs cannot invest in currency and commodity derivatives. They can invest in equity.

Can an NRI invest in a Mutual Fund in ICICI Direct?

Yes, NRIs can invest in ICICI Direct mutual funds, it is a part of company’s product deck.

What is the Brokerage for ICICI Direct NRI?

The equity delivery for PIS and non-PIS is 0.50% to 1.25% for the transaction value.

Can ICICI Direct’s NRI Account be opened online?

You can complete the form on this webpage, and start your account opening process online.

What is the Helpline Number for ICICI Direct NRI?

The helpline number for NRI is 1860-123-1122, and the email id is helpdesk@icicidirect.com.

Which documents are needed to open an ICICI Direct NRI Account?

The user needs to submit documents to open their NRI account. Here is the list:

  • Indian and overseas address proof
  • Valid passport and visa
  • Pan card
  • PIO/OCI card
  • NRI account form duly filled and signed form

 

Customer ratings and reviews of ICICI Direct NRI Account

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