Terms and Conditions:

1. Referral and Referee (hereinafter called as “Both”) will receive the referral reward based on the date on which the referred party completed their NRI account opening process and account of referred party is activated.
2. This offer is valid from 29/01/2022 onwards.
3. Referrer will get ₹2000 cash for every successful account opening of referred party initiated through ICICI direct NRI account opening process referred by Referrer within aforesaid offer period.
4. Referee will get ₹2000 free brokerage upon successful account opening.
5. Both will receive the referral reward within 30 working days once referee account is activated i.e. demat and trading account is opened after complete document & application verification in lines with the SEBI / Exchange regulations and internal policies and procedures of the Company.
6. Free Brokerage for the Referee will be valid for a period of 6 months from the day of crediting referral reward. At the end of validity period, the unutilized brokerage will expire.
7. The Referrer can be an existing Resident Indian or Non Resident Indian customer. RI Referrer can refer not more than 5 Referee. There is no cap on NRIs referring NRI account.
8. If the resident status of the Referrer is Resident Indian, TDS will be applicable of 5% if the total pay-out exceeds more than Rs 15,000 for the Financial Year.
9. If the resident status of the Referrer is Non Resident Indian –
   • No TDS will be applicable with the customer does not have any business connection to India or has any permanent establishment in India.
   • TDS of 5% will be applicable if the customer does not satisfy criteria mentioned in above point.
10. For both RI and NRI Referees, TDS will be increased to 10% if customers have not filed tax returns for more than 2 financial years and 20% TDS if PAN is invalid.
11. If details of the referred client already exist in ICICI direct database as an existing client or as a lead client, then it will not be considered under this scheme for referral reward and ICICI direct reserves the right to exclude such accounts for calculation of referral rewards.
12. ICICI Direct reserves the right to carry out checks and controls as it deems fit and proper, before the credit of referral reward to Both.
13. ICICI direct reserves the right to amend this offer and these terms and conditions at any time without prior notice. The decision of ICICI direct on all matters relating to, or in connection with the use of this offer shall be final and binding on all parties concerned.
14. Both agree that the following activities are expressly prohibited and engaging in any of these will lead to initiation of legal and criminal action against you and also result in immediate termination and disqualification from the Referral Program, forfeiture of existing referral invitations and accrued, but not yet received, referral rewards:
    • Spam, bulk distribution of invitations, distribution to strangers or any other promotion of ICICI Direct Referral offer through invitations that would constitute or appear to constitute unsolicited commercial e-mail, sms, publishing any article or content about ICICI direct products, services etc.
    • Advertisement of any kind in any form on any medium print, audio visual form, web etc including social media (facebook, twitter, whatsapp, instagram, youtube etc) , or spam under any applicable law or regulation.
    • Fraud, attempted fraud or abuse of the ICICI direct Referral offer or these Terms & Conditions.
    • Selling, trading, bartering or providing anything of value to your Invitee beyond the referral invitation or otherwise using Your Program invitations or Rewards for promotional purposes.
    • Organizing competition, contests online, posting content about ICICI direct etc.
    • Any act or omission resulting in damage to ICICI direct in any form whatsoever in nature.
15. Investment in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon.
16. In case a same person is referred by two clients, referral benefits will credited to the referrer whose link was used by referee first for registering and on-boarding on ICICI Direct platform.
17. Employees of ICICI Securities or employees of any ICICI group company cannot participate in this Refer & Earn program. Employees will not receive any referral benefit in case they participate and refer customers via Refer & Earn program.
18. This "Refer and Earn" program is strictly meant for clients. Hence, all employees (and their immediate family members) of ICICI Securities and ICICI Group or Business Partners are not eligible for this "Refer & Earn" program. All employees of the ICICI Group and Business Partners are required to use the referral link enabled through the ICICI Universe/Intranet.