Friends, could one of you please interpret this for me:
For me, the 1st and 2nd sentences are conveying different (and contradicting) meanings.
Let us consider a trade of value Rs. 600.
As per the 1st statement (the minimum brokerage would be Rs. 25/- per trade), the brokerage should be Rs. 25.
As per the 2nd statement (The minimum brokerage is Rs.25/- or 2.5% of the trade value "whichever is lower"), 2.5% of this is Rs. 15 (and it is less than Rs. 25) so the brokerage should be Rs. 15.
What is your understanding on the brokerage for 600/- trade - is it Rs. 25 or Rs. 15?
In addition to all this, the brokerage in general is 1%, they say. So what would be the brokerage for a trade of Rs. 2000? Is it Rs. 20 (1%) or Rs. 25 (min per trade) or 2.5%?
What I did not get is: When Rs. 25, when 2.5%, and when 1%? May be I did not read something clearly in the website, and hence I gave the URL above in this post in case you would like to go through.
I know I can ask this question to the customer service folks, but somehow I was never satisfied with the knowledge levels the customer representatives they exhibited in my earlier calls. Thanks in advance.
From URL: http://content.icicidirect.com/mailimages/feeschedule.htm
The minimum value of the order that would be accepted would be Rs. 500/- and the minimum brokerage would be Rs. 25/- per trade. The minimum brokerage is Rs.25/- or 2.5% of the trade value whichever is lower. Service Tax and Securities Transaction Tax (STT) will be charged additional as per the applicable rate.
The minimum value of the order that would be accepted would be Rs. 500/- and the minimum brokerage would be Rs. 25/- per trade. The minimum brokerage is Rs.25/- or 2.5% of the trade value whichever is lower. Service Tax and Securities Transaction Tax (STT) will be charged additional as per the applicable rate.
Let us consider a trade of value Rs. 600.
As per the 1st statement (the minimum brokerage would be Rs. 25/- per trade), the brokerage should be Rs. 25.
As per the 2nd statement (The minimum brokerage is Rs.25/- or 2.5% of the trade value "whichever is lower"), 2.5% of this is Rs. 15 (and it is less than Rs. 25) so the brokerage should be Rs. 15.
What is your understanding on the brokerage for 600/- trade - is it Rs. 25 or Rs. 15?
In addition to all this, the brokerage in general is 1%, they say. So what would be the brokerage for a trade of Rs. 2000? Is it Rs. 20 (1%) or Rs. 25 (min per trade) or 2.5%?
What I did not get is: When Rs. 25, when 2.5%, and when 1%? May be I did not read something clearly in the website, and hence I gave the URL above in this post in case you would like to go through.
I know I can ask this question to the customer service folks, but somehow I was never satisfied with the knowledge levels the customer representatives they exhibited in my earlier calls. Thanks in advance.