IIFL Securities Demat Account Review – Account Opening, Features, Charges, Offers & more

Know everything about IIFL Securities Demat Account here. The organization has a membership with CDSL and NSDL depositories.

This broker works as an intermediary between these central depositories and customers. They are not charging any fee for account opening.

The Annual Maintenance charges for the first are nil, and the customer must only pay for the second year.

IIFL Securities Account is entirely secure, and they work as a service agent. This article will teach us about the IIFL Securities Demat account review and state all the essential information.

IIFL Securities Demat Account: Top Features

If you consider going with the IIFL Securities Demat account, you should know its key features.

It will help you compare the company with others and make you aware of what you are getting.

• The company has over 7 lakh active demat accounts, which shows that the people trust them. They allow users to link their demat account with the trading account for a seamless experience.
• Broking house does not charge any fee for account opening. Also, the annual maintenance is free for the first few years. The customer needs to pay 250 INR for the second year.
• Their customer service department is strong and handles all customer issues within the stipulated timeframe.
• Customers can keep their mutual funds, ETFs and shares electronically.
• IIFL Securities account also allows its customers to earn through referrals. The income can be up to 1,000 INR for every client.

The user does not need to pay any fee for an account opening with IIFL Securities. There are no AMC charges for the first year as well.

Client must pay 250 INR from IIFL Securities AMC starting the second year. Also, if they are closing their account, a reasonable fee of 150 INR needs to be paid, and if they reactivate their account, then a 100 INR fee is applicable.

The dematerialization charges are 18 INR for every certificate. The call and trade charges are 50 INR per trade. Also, the DP charges are 20 INR for every sale on the scrip.

Please make a note of these charges, as they will help you make the decision on which broker to opt for.

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IIFL Securities Demat Account Opening Process – Step-by-Step

IIFL Securities Demat account opening procedure is simple. The user can open their demat account online as well as offline. Here, we will be discussing both procedures one by one. Have a look.

How to Open a Demat Account in IIFL Securities? – Online Process

Lots of people want to open their Demat account with IIFL Securities. However, they need help finding the right people to reach out to who can answer their query about How to Open a Demat Account in IIFL Securities.

We are listing here the list of steps that will help you open a Demat account online:

• Hit the “Open Demat Account” tab at the bottom of the page.
• A form will open before you fill it out and submit it.
• On submission, you will receive a call from the company executive. They will guide you through the procedure.
• The documents need to be submitted, and a list will be provided to you. Once you submit the documents.
• The company will start your application processing, and you will be emailed confirmation.

Follow the procedure to open your IIFL Securities account online.

How to Open an IIFL Securities Demat Account? – Offline Process

Many prefer to avoid opening an account online. If you are also wondering How to open an IIFL Securities account offline, here is the list of steps for you:

• Reach out to the official website and download the required demat account opening forms.
• Attach all the supporting documents per the list provided in the forms.
• Please fill out the form, attach the documents, and send it to the nearest branches.
• On verification of your form and documents, your data account will be opened.
• If followed, The above steps can help you open your demat account within a few days.

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To open an IIFL Securities account, the user should know the documents they must submit to the broker. Here is the list of documents you need to keep handy:

• A PAN card copy is mandatory.
• Identity proof must be submitted, such as Passport, Driving License, Aadhar Card, voter ID card, etc. You can submit any of them.
• Proof documents like passports, Aadhar cards, driving licenses, etc. must be submitted.
• Passport-size photographs of the user are required.
• In-person verification is also mandatory.
• Copy of income proof like salary slips, net worth certificate, etc.

The documents above must be attached to the demat account application. Keep them with you to have quick access.

How do I close my IIFL Securities Demat account?

The organization allows the customers to delete or close their demat accounts.

The clients must fill out the clearance request form and send it to the IIFL Securities office or branch per the instructions provided.

The procedure must be conducted online as the broker does not allow online processing of the account closure request.

Here are the steps that you can follow to close your IIFL Securities Demat account.

• Download the closure form From your account dashboard, and all the required details must be filled out.
• The account holders can sign the duly filled form.
• Attach the DIS (Delivery instruction booklet) and send it to the branch office at the address provided in the form.

Please note:

• It can also take upto seven to ten days to process the account closure request.
• Make sure you have no pending dues before placing your request.
• You can also transfer the existing securities to any of your demat accounts associated with other brokers.

IIFL Securities Demat Account Review: Conclusion

IIFL Securities Demat account is one of the leading accounts to opt for in the industry. They have received more than nine ratings in all the sections from Finec.in.

More than 7 lakh people have an active demat account with IIFL Securities, and the company has established itself as a renowned full-service broker.

Opening a demat account takes just a few minutes. Their demat account is a convenient way to invest in stock markets.

FAQs on IIFL Securities Demat Account Review

Here is the list of FAQs you should know about the IIFL Securities Demat account:

How do you create a Demat Account in IIFL Securities?

To create a Demat account, you can hit the “open Demat account” button at the bottom of the page. Fill out the form, and an executive will call to let you know the further steps.

How do you delete the IIFL Securities account?

To delete your IIFL Securities account, you need to log in to your account. You can select the option named Close your account to initiate the process.

What is AMC in IIFL Securities?

The AMC charges for the first year are zero. The customer needs to pay 250 INR in the second year itself.

What are IIFL Securities Account Opening Fees?

There are no charges for opening a demat account.

How do you find the demat account number in IIFL Securities?

The Demat account number, a 16-digit numerical code assigned to investors during the account opening process, is a distinctive identifier.

This unique number is individualized for each investor, symbolizing their financial identity when engaging in stock market trading or making investments.

How do you get a Statement of Demat Holdings in IIFL Securities?

In the current era of technological advancements, you can conveniently access your Demat holdings directly through NSDL or CDSL, regardless of the location of your Demat account.

Your Demat account number is an identification code for your depository participant and ownership stake. Register on NSDL and CDSL websites and opt for their “Easi” services.

Once you visit the service, you can check your demat holdings.

What documents are required to open a demat account in IIFL Securities?

The documents needed to open your demat account are a PAN card copy, Address proof, identity proof, bank account copy, passport size photo, income proof, etc.

How long does opening a Demat Account in IIFL Securities take?

You can open an account through instant account opening service in 15 minutes.

How do you change your bank account in IIFL Securities?

Suppose you need to link a new bank account or change the existing bank account details. Then you can do it quickly.

Look at the below-listed instructions to change your bank account with IIFL Securities:

• Reach out to the broker’s official website and then download the form for changing your bank details.
• Please fill out the form, sign it, and attach proof of new bank account details. The proof-like bank statement for the last three months, cancelled cheques, passbook, etc.
• Then, submit the respective form with the proof to the head office.

How to transfer shares from any Demat account to IIFL Securities Demat?

Let’s discuss transferring shares from a Demat account to IIFL Securities Demat.

The account holder must visit the CDSL website, register for an account, and then send the form to the DP.

Upon completing the DP’s verification process, the account holder can make further transfers with the following steps:

• Visit the CDSL website and click on ‘Register Online.
• Choose the EASIEST option from the menu.
• Fill in the form with the necessary details, including DP ID, BO ID, email, phone number, etc. You’ll receive a one-time password (OTP) on your registered cellphone upon entering.
• Type the OTP in the designated box, completing the registration within 24 to 48 hours upon cellphone number validation. Now, you can transfer shares online from one Demat account to another.
• Choose “Print Form” after form completion.
• Upon DP verification, you’ll receive a password on your email address.
• As the account holder, use the received password to log in and initiate the transfer of shares.