CICI Direct has launched a new Plan known as the ICICI Direct Neo or “The Zero Brokerage Plan” which provides the pricing of a discount broker and apart from that ICICI Direct has decided to give Free brokerage on Futures Trading. The other segments like Intraday Equity & Option trading will be charged at the rate of Rs 20 per order. The AMC (Annual Maintenance Charge) of this plan is Rs 300.
ICICI Direct-
ICICI Direct is a retail investment service provider under ICICI Securities. ICICI Direct offers a 3 in 1 account that includes a Demat Account, Trading Account, and Savings bank account.
ICICI Direct used to offer various Demat account plans but recently it has launched a new plan known as the “Neo Plan” which is also marketed as The Zero Brokerage Plan.
Earlier ICICI Bank has some plans for its Demat accounts like-
- I-Secure Plan
- ICICI Direct Prepaid Brokerage Plan
- ICICI Direct Prime Plan
All these plans had different rates of brokerage charges but the minimum base charges were applicable to all of them. For example, the I-Secure Plan had a Flat brokerage charge in Percentage irrespective of the total turnover.
The Prepaid Brokerage Plan had certain brokerage rates which are comparable to the Discount broker rate but that differs from a prepaid plan charge that had to be paid, according to which the brokerage rate was decided.
The third but not the last plan is the ICICI Direct Prime Plan in which there are 4 plans of different rates to choose from. The plans start from Rs 299 and go all the way up to Rs2999. The higher plan you chose, the lower brokerage you pay.
Now after looking at all of the above plans it is clear that ICICI Direct does charge brokerage irrespective of the Plan. Even in the highest plan, the Brokerage rate is low but there.
To change this ICICI Direct Launched its latest plan known as the Neo Plan.
ICICI Direct Neo -
ICICI DirectNEO is the latest offering from ICICI Direct where the main highlight is Free Brokerage. The Free brokerage is not applicable to all segments but it is applicable to Future Segment trades.
And apart from Futures, A flat brokerage of Rs 20 per order will be applicable on all Option & Equity Intraday trades.
This plan is launched by ICICI Direct keeping in mind the existing competition from the Discount brokers hence this plan has the same pricing as the major Discount Brokers like Zerodha & Upstox and apart from that it has moved one step ahead of the competition and applied “0” Brokerage on all Future trades.
The AMC (Annual Maintainance Charge of this plan is just Rs 300 which is the cheapest of all other plans provided by ICICI Securities. ICICI Direct also offers the feature of Combining 2 plans, The “ICICI Direct Prime Plan” & The “ICICI Direct Neo plan” to get the best of both worlds, which is reduced brokerage and all the access to the Research and other services of a Full-Service Broker.