Comment on Various Types of Accounts

Gaurav commented on 05 Sep 2014, 07:23 PM

Hi Nithin and fellow readers,

I wish to open a trading+demat account with zerodha, and transfer all my shares from my existing ICICI demat account (and close it) to my new demat account with zerodha (through IL&FS). Are you aware if ICICI would levy any charges for such a transfer to a new DP?

Some people online say it is free during demant account closure with ICICI, while others say they would charge 0.04% of value, with a minimum of Rs 30 per ISIN. My issue with the latter charge structure (if it is true) is that I have a lot of stocks with many of them having very small quantity, and a charge of Rs 30 would mean 2-5% of the value in many cases.

Thanks,
Gaurav

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