ICICI Demat Account Opening – A Step-By-Step Guide
A Demat account is required to hold shares and securities in electronic form. ICICI Direct, part of ICICI Securities, offers one of the widely used 3-in-1 accounts that links savings, trading, and Demat services. This article explains the account opening process, documents, and applicable charges.
What is a Demat Account at ICICI Bank?
A Demat account at ICICI Bank, offered through ICICI Direct, is an electronic account that stores an investor’s securities digitally. It eliminates the need for paper certificates and helps track holdings in one place. The account does not work on its own; it usually operates along with a trading account for buying and selling securities. In ICICI’s case, the Demat account is part of a 3-in-1 setup that links a savings account, trading account, and Demat account, making settlement of trades smoother and faster.
How Does the ICICI Demat Account Work?
An ICICI Demat account serves as a digital repository where securities, including equities, bonds, mutual funds, and ETFs, are held electronically. It is linked to a trading account on the ICICI Direct platform, which enables buy and sell transactions. When an investor places a trade, the trading account executes the order, while the Demat account reflects the updated holdings. Settlement is automated: securities are credited to the Demat account when bought and debited when sold.
Because ICICI offers a 3-in-1 account structure, the Demat account also connects to the linked ICICI Bank savings account. This integration ensures that funds for purchases are debited directly from the bank account and sale proceeds are credited back automatically, eliminating the need for manual transfers.
What is the Step-by-Step Guide for ICICI Bank Demat Account Opening?
ICICI Direct allows investors to open a Demat account online through Aadhaar-based verification or offline by submitting physical forms.
Online Process
- Visit the ICICI Direct account opening page.
- Select ‘Yes’ or ‘No’ depending on whether you have an ICICI Savings Account.
- Enter Your Mobile Number, Name, PAN details to fetch details from the KYC database.
- ICICI will reach out after this step to upload the required documents (PAN, Aadhaar, address proof, photograph, and signature).
- Complete in-person verification (IPV) through live photo or video call.
- E-sign the application form using Aadhaar-linked mobile OTP.
- After successful verification, the Demat and trading accounts will be activated.
Offline Process
- Visit the nearest ICICI Bank branch or ICICI Direct office.
- Collect and fill out the Demat account opening form.
- Attach self-attested copies of the required documents along with photographs.
- Submit originals for verification if requested.
- Once the application is processed, account details are shared.
What are the Documents Required for the ICICI Bank Demat Account Opening?
To open a Demat account with ICICI Direct, you need to complete the Know Your Customer (KYC) requirements and submit valid proof of identity, address, and banking details. The documents can be uploaded online or submitted physically if applying offline.
Mandatory Documents
- PAN Card: Permanent Account Number is compulsory for all Demat account holders.
- Identity Proof: Passport, Voter ID, or Driving Licence (if not using Aadhaar as primary ID).
- Address Proof: Aadhaar card, Passport, Driving Licence, Voter ID, or a recent utility bill/bank statement.
- Bank Proof: Cancelled cheque leaf or a copy of your bank passbook/statement.
- Photograph: A recent passport-size colour photograph.
- Specimen Signature: E-sign, scanned or physical copy of your signature.
Additional Documents (if applicable)
- For NRIs: Passport, visa copy, overseas address proof, FEMA declaration, and NRE/NRO bank account proof.
- For non-individual accounts (corporates, HUF, partnerships): Incorporation certificate, board resolution, authorised signatory list, and related documents as per regulatory requirements.
What are the ICICI Demat Account Charges and Fees?
Below are the latest charges you should expect when you open and use a Demat/3-in-1 account with ICICI Direct. These depend on the plan you choose (e.g. Regular / Prime / iValue), whether you’re doing delivery trades or intraday, and whether there are any special waivers.\
What is a 3 in 1 Demat account in ICICI Bank?
ICICI Bank, through ICICI Direct, offers a 3-in-1 account that combines a savings account, a trading account, and a Demat account. This integration makes it easier to transfer funds and settle trades. When you buy shares, money is debited from the linked savings account and the securities are credited to the Demat account. When you sell, securities are debited from the Demat account and the sale proceeds are credited back to the savings account. This automatic linkage removes the need for manual fund transfers, making transactions smoother compared to standalone or 2-in-1 account setups.
How to Close an ICICI Demat Account?
ICICI Direct Demat accounts can be closed only through the offline process. Online closure is not available. Before raising a closure request, you must ensure that:
- All securities in the account are either sold or transferred to another Demat account.
- Any pending charges or dues are cleared.
Steps to Close the Account
- Download the Demat account closure form from the ICICI Direct website or collect it from the nearest ICICI Bank branch.
- Fill in details such as client ID, DP ID, account holder’s name, and contact information.
- Attach required documents, such as proof of cleared balance or unused DP slips, if applicable.
- Submit the completed form at the branch or designated ICICI Direct service point.
- ICICI Direct will process the request after verification, and you will receive closure confirmation by SMS or email. The process usually takes 7–10 working days.
Key Considerations
- The account cannot be closed while securities remain in it. They must be transferred to another active Demat account or sold first.
- Special procedures may apply for illiquid, delisted, or suspended securities.
- Closure is free of cost once holdings and dues are settled.
To Wrap It Up
A Demat account is a necessary gateway to participate in the Indian securities market. ICICI Bank, through ICICI Direct, provides one of the widely used options, with charges and processes aligned to regulatory norms. Knowing the opening procedure, required documents, and applicable fees allows investors to make informed decisions before choosing this service.
Frequently Asked Questions About ICICI Demat Account Opening
ICICI Direct charges ₹0 for opening both the Demat and Trading accounts when you apply online.
If you open online with Aadhaar-based eKYC and complete in-person verification (IPV), account activation generally takes less than 48 hours.
For offline applications (paper forms, branch-submitted documents), it can take around 5-7 business days.
The 3-in-1 account links your savings bank, trading, and demat accounts. This integration simplifies fund transfers and trade settlements, reducing delays. If you prefer seamless management of funds and securities, and want the convenience of having everything under one provider, then 3-in-1 can be a good option. However, you can compare costs (AMC, brokerage, DP charges), plan details, and alternatives before deciding.
You can fill and submit the closure form offline at ICICI branch/DP. It is important to ensure no holdings or dues remain. Processing takes 7–10 working days.
There is no fixed fund limit. Residents face no ceiling, while NRIs must use repatriable (NRE-linked) or non-repatriable (NRO-linked) accounts as per RBI/SEBI rules.
No monthly fee. Charges apply annually (AMC) or per transaction, such as ₹20 DP charge on sell orders. Plan-specific fees may be annual or one-time.
Yes. NRIs can open repatriable accounts linked to NRE accounts. Requires passport, visa, overseas address proof, and FEMA-compliant documentation under RBI/SEBI guidelines.
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