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ICICI Securities on Thursday launched ‘Life Time Prepaid’ brokerage plan for its ICICIdirect.com customers.
Life Time Prepaid aims at helping customers in optimising their transaction costs and spreading their trading over a period of time to suit the market conditions.
Four prepaid plans — Rs 25,000, Rs 50,000, Rs 75,000 and Rs 1 lakh are available to customers and each of these plans offer an upfront reduction in brokerage across all equity and derivative products along with life time validity.
“Large investors in the market need to optimise their transaction costs with flexibility to be in the market timing of their choice,” ICICI Securities Head (Equity Products) Mr Vishal Gulechha said a statement.
With a pre-paid plan, upfront reduction in brokerage and a near lifetime validity, it will cater to the said set of customers,” he said.
In the Life Time Prepaid Brokerage Plan, life time implies tenure of 15-years. Any unutilised brokerage post the validity period is refunded to the customer, it said.
ICICIdirect.com has over 2.2 million customers and is a leading player in online and offline financial product distribution.
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