What Account Types and Fees Does ICICI Bank Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and general public |
Low minimum balance requirement, online banking access |
Suitable for individuals looking to manage daily finances |
| Professional Account |
Experienced traders and professionals |
Higher leverage options, advanced trading tools |
Requires a certain trading volume to qualify |
| Corporate Account |
Corporate clients |
Customized services, dedicated relationship manager |
Requires corporate documentation |
| Islamic Account |
Traders seeking Sharia-compliant trading |
Swap-free trading, no interest charges |
Available to clients who adhere to Islamic finance principles |
| Demo Account |
New traders for practice |
No risk, virtual trading environment |
Ideal for gaining trading experience without financial commitment |
Account Opening Process
To open an account with ICICI Bank, follow these steps:
1. Submit Personal Information: Provide your name, contact details, and other personal information.
2. Employment Information: Include your employment status and income details.
3. Financial Information: Disclose your financial status, including assets and liabilities.
4. Identity Verification: Provide identification documents such as a government-issued ID and proof of address (utility bill or bank statement).
5. Account Flexibility: Accounts can be upgraded later to a professional account based on trading volume or specific criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive rates for active traders |
| CFDs (Stocks) |
Variable (typically 0.1% – 0.5%) |
$8 per trade |
Fees may vary based on liquidity |
| CFDs (Commodities) |
Variable |
$8 per trade |
Depends on market conditions |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
ICICI Bank may impose various fees including:
– Deposit/Withdrawal Fees: May apply based on transaction types and methods used.
– Inactivity Fees: Charged if the account remains inactive for a specified period.
– Platform Usage Fees: Applicable for advanced trading platforms or tools.
– Overnight Interest (Swap Rates): Fees for holding positions overnight, depending on the account type.
– Currency Conversion Fees: Charges for trading in currencies other than the account base currency.
