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In a bid to increase its customer base and to retain existing customers, ICICI Securities has launched a ‘Life Time Brokerage Plan', by which the customer can pay an upfront amount to the brokerage house.
In this structure, a customer can choose to invest in any of the four plans available for a period of 15 years, said the company at a press meet on Thursday. As and when the transactions take place, the amount will be deducted from the upfront amount paid.
Flexible
“The advantage of the structure is that the customers have the flexibility to trade. Active investors can commit value to the market,” said Mr Vishal Gulechha, Head — Equity products.
The brokerage scheme is available in four plans — Rs 25,000, Rs 50,000, Rs 75,000 and Rs 1 lakh. For now, the plan is only for the equity and derivative segments.
Any unutilised brokerage post the validity period will be refunded to the customer. However, the arrangement is irrevocable — that is the customer cannot withdraw from the plan after the payment is made.
Number of clients trading through Internet has been on the rise. According to NSE, about 51.43 lakh registered clients did Rs 9.21 lakh crore worth turnover through Internet during 2009-10.
ICICIdirect.com has over 2.2 million customers and is a leading player in online and offline financial product distribution.
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