Demat Account - Open Demat Account Online with ICICI Bank, India (2024)

FAQs

Can I open a Demat account online in ICICI Bank? ›

Demat account is not just for equity shares but you can hold gold ETFs, index ETFs, G-Secs, corporate bonds, RBI gold bonds and mutual funds in demat. You can open a demat account either through the online method or the offline account opening method.

Yes, Non-Resident Indians (NRIs) are allowed to open demat accounts in India. The Reserve Bank of India (RBI) permits NRIs to invest in the Indian stock market through the Portfolio Investment Scheme (PIS) route.

The Account opening fee varies from 0 to ₹975 rupees. There are multiple schemes available, for more details on the scheme, please call on 1860 123 1122. There is no AMC (Annual Maintenance charges) for Demat Account for the first Year. However, charge of ₹700 (excluding taxes) is levied from 2nd year onwards.

Opening a Demat account for NRIs – The procedure

NRIs who wish to open a demat account can do so in two ways – offline by visiting the offices of the DP on their visit to India or online (if they are abroad). Let's say an NRI wishes to open a demat account.

NRIs, who hold a valid Indian passport or Overseas Citizenship of India (OCI) card, are eligible to open a Demat account. NRIs can hold both repatriable (NRE) and non-repatriable (NRO) Demat accounts, depending on their investment objectives.

Zerodha and Prostocks are the two best NRI discount brokers in India. Prostock is the low-cost NRI trading broker that charges Rs. 100 flat brokerage on NRI trading while Zerodha charges Max Rs. 200 per order brokerage.

Taxation Processes in Place for NRE and NRO Demat Accounts:

Taxability applicable to NRO Demat accounts is no different from that of NRE Demat accounts. That being said, income derived from an interest in an NRE account is exempt from being taxed in India provided the account holder is of course an NRI.

It takes around 2 to 5 working days to open a demat account with ICICIdirect. However, this timeline is true if you know how to open a demat account online with ICICI and submit the right documents.

What happens if I don't use my ICICI demat account? ›

What if I open a Demat Account and don't use it? If you open a Demat Account and don't use it for a while, it will become a dormant account after some time. If you want to use it again, you will have to reactivate by paying a reactivation fee.

Repatriable demat account and non-repatriable demat account is applicable to NRI demat accounts. Repatriation is the ability to freely remit money abroad. To open a repatriable demat account, the NRI must have an NRE bank account linked to demat account.

No forgery risk: Other than the easy and convenient holding of shares, ICICI Demat account eliminates the risk of theft, forgery, loss and damage of physical certificates.

Can I have multiple Demat Accounts linked to e-invest account? Yes, you can link multiple Demat accounts to your e-Invest accounts with a maximum of 5 accounts.

ICICIdirect - Safe, Reliable & Trustworthy Broker. ICICIdirect is a safe and trusted stockbroker for many reasons including it being a part of ICICI Bank, a reputed private sector bank in India, ICICI Securities being a stock market listed company, huge customer base, and no major violation reported to date.

NRIs can also open a demat and trading account to trade in shares. However, they need to follow a slightly different procedure to open the demat account as compared to resident Indians. Visit ICICI Direct to know more.

Navigate to the "Demat Services" section. Fill out the online application form. Provide the required details, such as your personal information, contact details, PAN card number, bank account details, and any other information requested by the bank. Submit the application form.

Individuals can now open NRI account online. Before beginning the process, however, there are some documents you will first require. NRIs will have to produce basic KYC documents such as their pan card, passport as well as a copy of their visa.

All the procedures of opening an instant online Savings Account is conducted as per your convenience, without the need to visit ICICI Bank. Your Aadhaar Card should be linked to your registered Mobile Number without which, you cannot open an online Savings Account instantly.