Prepaid brokerage comes with a lifetime validity of 15 years. You can utilize the prepaid brokerage within a span of 15 years or till the time the eligible turnover is exhausted whichever is earlier
For all new Prepaid subscription done from May 10, 2018, you have the option to exit and take refund of unutilized Prepaid amount after completion of 1 Year of prepaid subscription, On doing so the balance in your prepaid brokerage
account including GST will be refunded after adjusting any obligations with I-Sec if any to your NRO bank account (Non Pins or Pins) or paid by way of cheque and your account will be mapped to normal brokerage of 1.25%
Rs 20/- plus GST would be charged towards demat processing charges for each debit instruction from your demat account for your sale obligations
In case you opt to continue with the full tenure of Prepaid, after 15 years any un-utilized brokerage balance will be refunded back to your account and your account will be mapped to normal brokerage of 1.25% after that
All regulatory and statutory charges would be levied over & above brokerage. For more details on statutory charges please log on to www.icicidirect.com > Customer service Page
Please maintain sufficient free balance in your linked Bank Account, so that your account is mapped to the prepaid brokerage plan post successful debit of prepaid brokerage.
Brokerage Usage :
The credit in your prepaid brokerage account will be apportioned towards your trading transactions as and when the transactions are placed.
Please ensure to track the usage of the brokerage amount in your prepaid account to ensure that you have sufficient balance at all points in time. If the balance in your prepaid brokerage account gets exhausted, all further
transactions in your account will be charged brokerage as per regular NRI brokerage plan which is 1.25%.
Terms & Conditions :
- The prepaid brokerage plan is available in various denominations. You may choose the appropriate plan depending on your usage.
The prepaid brokerage amount selected by you will be debited upfront from your linked bank account at the time of registering for the plan. Please ensure that you have sufficient free balance in your account, after the
prepaid brokerage amount is debited, to meet margin requirements on your open positions.
Applicable statutory and regulatory charges like STT, Transaction charges, SEBI Turnover tax, Stamp duty and the like will not be adjusted from your prepaid account but will be debited from your linked bank account on the
day of the transaction. Please note that the said charges will also reflect in the contract notes issued to you.
- Your prepaid plan is valid for a period of 15 years. You may use the balance in your prepaid brokerage account towards the specified transactions at any time during the validity period.
- The balance in your prepaid brokerage account can be utilised for Equity cash market transactions. Further the prepaid plan will not be available for futures & Options transactions.
- Till the time you are mapped to the prepaid brokerage plan or the limit in your prepaid account does not get exhausted you will be charged brokerage as per the prepaid plan selected by you
The prepaid brokerage amount is being treated as an upfront outflow that will be used over a period of time and hence will not be considered by I-Sec for calculation of your TDS liability. Your portfolio calculation and
TDS computation etc will be done solely on the basis of the obligations reflecting in your contract notes. You will be required to take the advice of your tax consultant for claiming rebate of the prepaid brokerage
amount as expenses for income tax purpose based on the applicable Income Tax rules.
The prepaid brokerage facility will be available on the eligible Equity transactions in all the NRI accounts held by you with I-Sec (NRE, NRO PINS and non PINS account). Turnover in eligible products in all the accounts
will be considered for determining the usage of the prepaid brokerage balance.
The balance in your prepaid brokerage account is nontransferable during the validity period. On expiry of the validity period or if customer residential status changes to Resident Indian (RI) from Non-resident Indian (NRI)
status, the balance in your prepaid brokerage account including GST will be refunded after adjusting any obligations with I-Sec if any to your NRO bank account (Non Pins or Pins) or paid by way of cheque.
Switch between brokerage plans will not be permitted unless you fully utilize the amount in your prepaid account. In case you switch to another non prepaid brokerage plan, the balance in your prepaid brokerage account will
be forfeited as closure charges.
- The balance in your prepaid brokerage account, if any, will be forfeited as closure charges in the event you close all your trading accounts with us.
- The balance in the prepaid account cannot be used as margin money / limits for placing transactions in your account.
In case, there is an upward revision in Goods and Service Tax rates, the same will be debited from the Prepaid Brokerage balance and paid to the government. However in case the Goods and Service Tax rates are reduced, we
will not credit the same to your prepaid account as the same would have been paid to the government.
- I-Sec reserves the right to withdraw the plan at any time or to modify any of the above conditions with a prior notice of 15 days.
- You can place online request for refund of Prepaid Brokerage within 5 days of Prepaid Plan selection
- You will be able to place the request only if you have not utilized your Prepaid Plan after the amount is debited from your account
- Request for Prepaid Un-Subscription can placed on Customer Service Page - Services - Un-Subscription
- Cash Brokerage shall be levied for Orders placed in OFS and Buyback apart from all other statutory charges