Opening an account with ICICI Direct requires payslip copy?


New Member

On calling up FundsIndia, nobody took the call on a Saturday, so I decided to go with ICICI Direct. I didn't want a demat account. Just an ordinary account for investing in debt funds.

On calling up ICICI Direct's call center, the person told met not to go to their Bangalore office, as they would not allow me to open an ordinary account (for which I would be charged Rs.125), and they would force me to open a demat account (for which I'd be charged Rs.975). Instead, he told me to wait for one of their executives who would come to my home to collect the necessary documents.

Not believing that, I sent an email to ICICI Direct asking about the procedure and a person calls up telling me that I would also have to submit my salary slip and my account opening charges and other charges would be according to my salary. He said the account opening would cost Rs.150.

All this sounds very strange. Is this really the procedure for opening an account? Do I believe these people or should I personally visit their office to open an account?