No wonder, the share market comes with the innumerable opportunities for traders to increase their wealth, and getting into a trade with a diversified financial services company like IIFL offers you a great experience.
Before getting into the detail of the Demat Account in IIFL, here is the detail of the company in brief.
IIFL was founded in 1995 by Nirmal Jain with the strong back support from the Canadian investor’s Prem Watsa, CDC Group, Private Equity Firm General Atlantic Private Equity Arm of the UK Government.
Currently, the firm has a strong network of more than 4000 branches spread in 900 cities including metro cities like Hyderabad. The broker earns more trader from northern India especially from Delhi, Gurgaon, Punjab, Noida, and Rajasthan.
Apart from IIFL branches in India such as in Mumbai, Pune, Chennai, Kolkata, Delhi and in other major cities in India the broker has its name and fame around the world and has branches in London, Hong Kong, Mauritius, Geneva, Singapore, New York, etc.
Now eager to learn about the Demat Account of the company, dive in and grab the maximum benefits.
IIFL Demat Account Review
IIFL Demat Account and Trading account can help you in personalizing your portfolio analysis.
Apart from the demat account gives you access to the trading platforms like IIFL TT Web, IIFL Markets and IIFL Trader Terminal that help you in learning and implementing trade.
For its HNI customers, the firm offers experienced RMs who assist them in executing a trade in the right direction.
Talking about the reliability, the company has been ranked among the top seven financial services provider in the country. Euromoney recognized the company as the Best Private Banking Services and honor it with the award in 2017.
Also, it is one of the few organizations that offer the facility of a 2-in-1 account where a Demat account is linked with the trading account. With the facility of a 2-in-1 account, you would be able to do the seamless transactions between accounts.
In all, the Demat account offers a seamless way to track your investment and stocks online. You can either open an individual or joint demat account with the firm.
Thinking of opening a IIFL Demat Account, here is some of the important information that helps you in making a wise decision.
With the IIFL Demat Account, you would be able to grab the experience of the paperless process of account opening, experience seamless trading, can hold all your shares including IIFL Equity, mutual funds in IIFL and others in electronic form, get the investment advice from the highly experienced Relationship Managers.
Other than this the firm provides multiple channels and dedicated customer support. Along with this, the company is reliable and conduct in-depth research and expert recommendations.
Learn the opening process and charges associated with the IIFL Demat Account and apply now to have your own account with the firm.
IIFL Demat Account can be opened simply by filling a form. The form is available at a depository participant (DP) website or at the nearest branch of the IIFL.
For either method, fill in all the basic details, and submit the essential documents forIn-Person KYC verification like PAN Card and Aadhaar Card. Other essential documents required for opening the account is discussed below.
Like the bank account, Demat account also offers the provision to open the account in single/joint names/ multiple accounts. In case of a minor account, it is mandatory to appoint the guardian who can operate the account.
India Infoline Demat Account Opening Online
Here are some of the steps that are essential to follow to open a Demat Account with IIFL.
Visiting the Broker Website: To open the Demat Account visit the IIFL website and start the process of account opening, by clicking on the link “Open the Account”
Fulfilling the KYC Formalities: This step is essential to open an IIFL Demat Account. For this enter your mobile number. You will receive an OTP, enter it along with other details like PAN number, Aadhaar Number, and email id.
Enter the Contact Information: Now enter your name, address, corresponding address, mobile number, and all the required fields.
Submit Bank Details: Since the broker offers a 2-in-1 account, it is good to submit the bank details with which you want to link your Trading account.
Choose Investment Options: Now is the time to choose the investment options, in case you choose the derivatives segment, submit the additional documents for income proof.
Upload Documents: Upload the scanned copies of all the documents required for the demat account.
Submit the Application: Once you are done with all the major steps proceed further by submitting the application.
Verification: After submitting the application form, the person needs to be present at the DP’s office where all the details and authentication of KYC is being fulfilled.
Acquire Beneficiary Owner Identity (BOID): On Processing of the application, a unique Beneficiary Owner Identity or BOID is generated. This is essential to make transactions and to access your Demat account.
Also, you can opt for signing the IIFL POA form, which gives the broker the right to debit share from the demat account.
India Infoline Demat Account Opening Offline
Other than the online method, you can also open the account offline. For this, you simply have to place a request for a callback. Once you request, the representative will call you and visit you to fulfill all the account opening formalities.
So, the broker offers a seamless and convenient way for its investors. Just make sure you keep all the information and documents handy to avoid any delay.
IIFL Demat Account Opening Form
You can also download the account opening form from the website under the ‘Broking & Depository Account Opening Forms (CDSL)’. Here are the IIFL forms for your reference.
Save the form, take a print and fill it.
Sign at all the required places.
Attach the self-attested photocopies of documents and send it to the branch or to the main office of the IIFL.
On complete verification, the broker opens your account and send the login details to your email address.
Wish to open a Demat Account
IIFL Demat Account Opening Documents
To open a DEMAT account, it is essential to submit the photocopy of documents along with the application form.
List of Documents
1. Proof of identity
The person needs to require to submit copies of any one of the documents enlisted below as the proof of identity:
2. Proof of Address
For the address proof, it is essential to submit any one of the following:
Property Tax Receipt
3. Bank Details
4. Income Proof
Bank Statement (last 6 months)
Salary Slips (last 3 months)
5. Passport Size Photograph
IIFL Demat Account Login
Once your information is verified, you will receive a confirmation email with your login credentials. The best part about opening an IIFL Demat Account is the broker offers a single login id to view your entire portfolio.
From your trading account to iiflapp, backoffice using the same user id and password.
However, after logging in for the first time with the available id and password you can reset your password at your convenience.
For those who are looking forward to opening an IIFL Demat account need to pay the charges for:
Dematerialization and Rematerialisation of securities.
Fees for annual maintenance of the account
For the sell transactions, the transaction fee is applicable.
In the case of the IIFL Demat Account, the customer can reap the privilege to open a FREE Demat Account. This is the one-time payment made by the trader.
Apart from this, there are the AMC charges or Annual Maintenance Charges which the trader has to submit every year.
IIFL offers different schemes for the AMC charges under which the investor has to pay the sum of ₹400 or Zero depending upon the option he chooses.
In case the trader has an IIFL BSDA account then he can save the AMC charges if the holdings in his Demat account is up to ₹50,000 while the holdings between ₹50,001 to 2,00,000 charged the AMC of ₹100.
On the other hand, the non-BSDA individual account, the normal AMC charges of ₹400 is imposed that are to paid from the second year onwards.
Apart from this, there is margin money, that the trader has to maintain in his account in order to experience a seamless trading experience and to avoid a margin call. For IIFL Demat Account, you have to maintain the margin money of ₹10,000.
Here is complete information on different types of charges applicable to open the Demat Account with IIFL.
IIFL Demat Account Opening Charges
Demat account Opening Charge
Trading Account Opening Charges
Annual Maintenance Charges (AMC)
0.025% (minimum ₹25 is applicable per transaction)
REMAT-Per Certificate/100 units/share or whichever value is higher
Conversion of MF units/Destatementisation per SOA
Reconversion of MF units into SOA or Redemption/Restatmentistion per SOA
Postal Charges per request
IIFL Demat Account Offerings
IIFL Demat and Trading account offers many products and solutions that play an influencing role for many.
Here are some of the top offerings of the firm
Single Login For Everything
Viewing the entire portfolio from a single place is possible with the IIFL Demat account.
One can trade in equities, commodities, currencies, and mutual funds on a single platform. Also, it is easy to access all the market segments of BSE, NSE, and NCDEX.
Opening a DEMAT and Trading Account with IIFL gives access to the next generation trading platforms and tools as well. Along with this, the ownership of IIFL on a dedicated news and research site like indiainfoline.com makes it easy for you to get real-time and global updates, price alerts, IPO information, and NFO details.
Once you open the account with the broker, then apart from the above offering you can reap the benefit of refer and earn demat account program with the broker.
Under this program, you need to refer your friend or family member detail with the broker. Once the referrer opens a demat account with the broker, you can earn the gift voucher of worth Rs 500 which can be used to avail discounts across different e-commerce platforms.
The more the referral, the more is the chance to earn a gift voucher.
Other than this the referrer also gets the chance to earn the reward, where the referrer get the gift voucher of Rs 5000 and the stocks worth up to 5000 in the account within 7 days of trading.
Since a Demat account is an online repository where the shares and mutual funds are held in the digital format. DEMAT account works similarly as the bank account in which the securities bought are kept in the DEMAT account and the securities sold are credited from the Trading account.
As soon as all the formalities of opening an account are done, the DEMAT account is opened which is the access to get the complete overview of the holdings and portfolio.
However, if your account is not in use anymore, IIFL offers the provision to close it to prevent you from paying the annual and maintenance fees for the account.
If there is any security present in the account you can easily transfer it to any DEMAT account currently in use.
Here are the steps one should follow to close the DEMAT account:
Download the application form from the chosen DP website.
Take a print of the application form.
Fill the required field like Client ID, DP ID, Name, Address, and the reason for closing the account.
After filling the form all the account holders need to sign the application form.
After entering all the details and completion of the form, it is required to submit the form to the nearest branch account.
It takes around 7-10 days to process the request and closing the account.
*Before closing the account it is good to ensure that the account is clear and all the credit and debit balance should be settled before the closure of the account.
*A negative balance in the account results in the rejection of the closing request.
*Any share in the account should be transferred to another active Demat account before requesting its closure.
The IIFL offers the best customer support services and has a devoted team who always remain active to address the queries and concern of the client at the earliest. IIFL offers customer service through its different channels.
Customer Service Channels
The interactive voice response (IVR) technology makes it easy for the customer to interact with the team. Here is the number that is always available to offer help +912240071000.
2. IVR Voice Message
The IVR voice message comes with the feature and informing the queue number with the expected wait time for the customers. It is only implemented for receiving calls from the numbers which are registered with IIFL.
The client in the queue can wait for their turn to talk to the customer service executive or record their queries which then creates a case in the CRM software. The message when heard is responded appropriately by the team.
3. Voice Message
It is open to offer the service 24 by 7 and so the customer can place their request even after the office hours. The message posted is taken as a priority the next day and is resolved as soon as possible.
4. Reaching Customer Support Services Through Email
All the messages emailed are captured in CRM software and the support team reverts to the customer at the earliest by offering them complete solutions and satisfaction.
5. Trading Terminal
It is another alternative where the client can write their query or complaint through the trading terminal.
The growing technology has made it easy to reach customer support. IIFL offers provision to their clients where they can send their queries via WhatsApp. It simplifies the process of reaching the customer. The WhatsApp number is 9289903000.
The client should send the message through their registered mobile number and the team revert to the complaint or query at the earliest.
7. Mobile App-IIFL Markets
IIFL has the best way to get through their customer queries with Mobile App-IIFL Markets.
The app is the best companion of the investors and offers a seamless way to the customer to carry out trade. It includes a complete package of in-depth analysis, expert research reports, stock tips, market watch, and many more.
Also, the app has the Feedback option where the client can raise their concern and queries.
8. Missed Calls: Self Service Options
To get the instant response for their requirements like Trading Password, Ledger Balance, IIFL Fund Transfer, IIFL DP Charges Statement, etc, the customer can opt for the self-service and by giving a missed call on the respective number with their registered mobile number.
IIFL Customer Care Number
Missed Call Number
DP Bill Statement
DP Transaction Statement
DP Holding Statement
IIFL Demat Account Benefits
IIFL has gained great fame as a broker due to its national and international presence. No wonder there are many benefits associated with opening the Demat Account with IIFL. Learn some of the top advantages below:
1. The first advantage is by becoming an IIFL customer you would become a part of the widespread network and its services that it offers to its clients for years. Not only in India, but the firm also has branches and offices in other nations of the world.
2. Other than this the firm offers highly advanced and features trading platforms to its clients that make trading super easy for them. In short, if you want to grab the unique and winning trading experience, IIFL is the one that can help you in fulfilling your dreams
3. The firm offers multiple trading segments including mutual fund and IPO thus offering wide options for traders to invest in the desirable investing option.
4. The firm offers a great exposure of margin trading of up to 12.5 times of the margin kept in the customer’s account. Thus offering the great trading option and the higher chance of bringing profit to their profit.
5. Also, IIFL offers SIP plans with multiple available schemes. You can choose the SIP as per your need with your Demat Account.
Although you would be able to reap maximum trading benefits with the IIFL Demat Account, there are few drawbacks that should not be avoided while opening an account with the firm.
1. It does not offer Demat Account Free like many other full-service brokers.
2. The demat account provided by the firms is 2-in-1 while many full-service brokers offer 3-in-1 Demat Account.
3. The number of complaints against the broker in NSE and BSE is high as compared to other brokers.
IIFL Demat Account proves to be a good choice for investors who believe in deep research before making investment decisions.
Apart from this, the easy availability of customer support and the presence in multiple areas in the form of a branch or franchise make it one of the reliable platforms for opening the account.
So if you found IIFL Safe you can experience the best trade and investment experience by having your demat account with the firm.
Frequently Asked Questions
1. What if my account opening request got rejected?
In case your account opening request got rejected, your RM will get in touch with you to help you do the required changes and corrections.
2. Can I open the IIFL Demat Account offline?
Yes, you can open the IIFL Demat account offline, either by requesting a callback or by downloading the form from the website. In the former case, the executive will come to meet you personally and help you with all the account opening processes, while in the latter case you have to fill the form, attach documents and send it to the firm’s address.
3. What should I do to activate the trade-in derivative segment?
In case you have to trade in derivatives you have to F&O activation while filling the form and submit the income proof along with other account opening documents.
4. What are the trading and Demat account opening charges?
Like other brokers, IIFL does not charge money for opening a Demat Account. While for the trading account the charges of ₹750 are to be paid.
In case you are looking to get started with your stock market investments, let us assist you in taking the next steps ahead.