Zerodha (Trading Account)
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Flat ₹20/trade Intra-day/F&O
Zerodha (Trading Account)
FREE Equity Delivery and MF
Flat ₹20/trade Intra-day/F&O
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ICICI Direct Equity ATM (eATM) is a facility wherein the customer receives a credit of funds within 5 minutes (as against the current payout cycle of T+2) from the time of execution of sell order in the cash segment.
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ICICI Direct Equity ATM (eATM) is a facility wherein the customer receives a credit of funds within 5 minutes (as against the current payout cycle of T+2) from the time of execution of sell order in the cash segment.
Under ICICI Direct Prime Brokerage Plans, customers can get up to Rs 1 crore fund credits under the eATM scheme based on the plan they choose.
ICICIDirect eATM Charges
|
Plan |
eATM Daily Limit |
Delivery Brokerage(%) |
Validity |
|---|---|---|---|
|
Rs 299 |
Rs 2.5 Lakhs |
0.27 | Annual |
|
Rs 999 |
Rs 10 Lakhs |
0.22 | Lifetime |
|
Rs 1,999 |
Rs 25 Lakhs |
0.18 | Lifetime |
|
Rs 2,999 |
Rs 1 Cr |
0.15 | Lifetime |
|
Rs 3,999 |
Rs 1 Cr |
0.12 | Lifetime |
|
Rs 4,999 |
Rs 1 Cr | 0.10 | Lifetime |
eATM sell order
ICICIdirect customers get the funds from sell proceedings in their trading account in just 5 minutes. eATM funds allow them to invest in other securities on the same day instead of waiting for T+2 days of settlement.
Note:
eATM Order
Once you are in ICICI Direct Prime Brokerage Plan, all sell orders are considered as eATM. The funds available instantly depend on which Prime Plan you have selected.
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Answered on
eATM' which stands for 'Equity-ATM' is a facility offered by ICICIdirect wherein the customer receives funds payout within 5 minutes of executing a cash sell transaction. The customer does need not to wait for T +2 days to receive the funds.
You can place eATM order by selecting eATM check box in "Cash sell" page under equity "Place Order". Also, you can place eATM order from "eATM" page under equity "Place Order". The rest of the details that need to be filled would be the same as in a normal sell transaction.
The Brokerage rate applicable for eATM trades would be same as normal cash sell product which will be as per customer's mapped Brokerage scheme.
You can place multiple trade-in eATM but limit is on total transaction value. The Minimum daily limit of eATM is Rs 50000 per customer and the maximum daily limit of eATM is depend on the prime or prepaid plan selected. ICICIdirect can however change this limit at its discretion. This limit is inclusive of eATM trades placed on both NSE and BSE. Please note, if this limit is breached, then you will not be able to transact in any eATM product on that day.
A certain amount of Trade Value is retained against your eATM sell transactions and kept as an eATM withheld amount. This amount is retained for the recovery of brokerage and other statutory levies. The amount retained will be released in Limits after adjustment of recoveries. Once the brokerage process is carried out for that trade date, you can utilize this amount. The payout of this amount will be credited to your account, once the same is processed as per the existing normal equity payout process of T+2 days.
For instance, if you place an eATM Sell order of Trade Value Rs 1,000 at 10:00 AM and the eATM withheld amount percentage is 1%, the eATM withheld amount will be Rs 10 (1% * 1000 = 10). This means you would receive a payout of Rs990 (1000-10 = 990) within a certain duration say 10:05 AM. If the amount of Brokerage and Taxes for this transaction is Rs 5, then the remaining Rs 5 will be released in Limits after adjustment of recoveries. Once the brokerage is processed for that trade date, your payout for the same will be given as per the existing normal equity payout process.
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