ICICI-Direct Prime Plan Brokerage Charges vs NEO Plan Charges in 2022

In this article, we are planning to cover only ICICI-Direct Prime Plan Brokerage vs Neo plan charges. But before that, we would like to give you an overview of ICICI Direct as investors should be aware with whom they are going to deal.

What is ICICI-Direct Account

ICICI Direct is a flagship website of ICICI securities, which offers online trading services in equity, derivatives, commodity, currency along with investment options in mutual funds, IPO, fixed deposits, insurance, NPS, NCD, etc. Simply by holding ICICI direct account customers can use all these services.

ICICI Direct’s most popular proposition is 3-in-1 accounts which provide a seamless trading experience to their customer base by combining ICICI bank account, ICICI Trading account, and ICICI Demat account. Moreover, when we talk about Trading account the first things that come in our mind is brokerage. As without brokerage, we cannot use premium services offered by stockbroking companies.

ICICI Direct offers several brokerage plans to the customer. Instead of discussing all the plans, our focus will lie only on the two most popular selling brokerage plans.
Let’s get into it to understand the benefits and how they get differentiated from each other.

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ICICI-Direct Prime Plan vs NEO Plan

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Prime Plan

ICICI Direct’s strongest and enhanced proposition under the brokerage plan is the Prime plan. As the name suggests this plan offers prime membership to their subscribers. Major attributes of this plan are:

  1. Offer lower brokerage of 0.015% on their high-end plan of Rs.2999/-
  2. Advance trading platform experience.
  3. Access to exclusive handpicked research reports only to prime members on their registered email address.
  4. It’s an annual plan comes with auto renewal option. However, if the customer is not satisfied with the service can de-activate the auto renewal option to avoid deduction of subscription amount.
  5. Offers free look-in period of 7days in case not satisfied with the features and services can opt from prime membership.
  6. Moreover, promises payout within 30 minutes of selling the shares upto 1 cr.
  7. In addition, Customer can buy shares today and pay later at an interest rate of 8.9% with Margin Trading funding.
Prime Plan Details (Rs.)29999919992999
Cash %0.270.220.180.15
Equity Futures (%)0.0270.0220.0180.015
Equity Options (Per lot)(Rs.)Rs.40 per orderRs.35 per orderRs. 25 per orderRs.20 per order
Special MTF Interest rates/ LPC (% per day)0.040.0350.0310.024
Common Changes
MarginRs.20 per order
Currency Futures & OptionsRs.20 per order
Commodity FuturesRs.20 per order

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Neo Plan

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Neo plan is the discounted brokerage plan. Most importantly, aim to revolutionize the trading experience with minimum brokerages. The key benefits its offers to its customers are below:

  1. Comes with lifetime validity with subscription price of only Rs.299+GST.
  2. Charges zero brokerage to all futures trade.Above all it applies to intraday and carry forward too.
  3. Customers can trade all options at a flat rate of Rs.20 per order. Its unlimited to intraday and carry forward.
  4. .Equity intraday can be traded at a only Rs.20 per order.
  5. .Customer have access to basic research reports published by ICICI DIrect Team.

A detailed list of charges for each category you may find in the below section.

ICICI-Direct Prime Plan Brokerage Charges vs NEO Plan Charges

DescriptionPrime PlanNeo Plan
ValidityComes with an annual validity from the date of subscriptionComes with a lifetime validity
Equity Futures0.015% to 0.027% depending upon the plan one has optedZero brokerage
Equity Options (per lots)Rs.20 to Rs. 40 per order depending upon the plan one has optedRs. 20/order
Currency Futures &optionsRs.20/orderRs.20/order
MarginsRs.20/orderRs.20/order
Commodity FuturesRs.20/orderRs.20/order
MTF Interest rates14.9% to 8.9% PA0.025% Per day only
Ownership costFour prepaid plans: (299/999/1999/2999)+GSTRs.299+GST for lifetime
PayoutWithin 30 minutes of selling sharesWithin 30 minutes of selling shares with Eatm
Research ReportMembers will have access to handpicked exclusive prime research reportsHave access to common reports
ICICI-Direct Neo & Prime Plan Brokerage

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In conclusion, we can say both plans offer more or less similar features but have distinction only in terms of charges which matters a lot for the customers in stock market trading. To reap maximum benefit customers should opt for a combination of both plans. Here are the details of charges if the combination customer opts for:

BrokeragePrime +Neo
Equity intradayRs.20/order
FuturesZero
OptionsRs.20/order
CurrencyRs.20/order
CommodityRs.20/order
Share margin interest0.025% /order
Cash (Delivery)0.15%

Also Read List of Government Bonds in India – Short-Term and Long-Term Bonds

Faqs

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Is Icici direct better than Zerodha?

One can opt for icici direct if looking for great post-sales services in terms of advisory, RM services, free account opening.

Can I have 2 Demat accounts?

Investors can open multiple Demat accounts, so long as the accounts are opened with different Depository Participants.

Also Read IPO vs Shares(Listed) – Difference between IPO and Listed Stocks in India

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