IIFL Securities NRI Account – Benefits, Charges, Opening Process, Support & more

You are originally from India but live abroad for work or study purposes? Do you want to unlock the opportunities to invest and trade in India, your home country? You can do so by creating an IIFL Securities NRI Account!

The Indian full-service stockbroker’s 2-in-1 NRI account provides seamless avenues for investing your hard-earned money in Indian financial assets.

However, you are curious about what makes the brokerage house’s NRI account offerings unique. Why should you open an NRI account with IIFL securities?

This IIFL Securities NRI Account Review entails all vital information, from IIFL Securities NRI Account Charges to financial products and services, aiding you in making the correct decision.

Why Invest with IIFL Securities NRI Account?

• With its offices in India, Hong Kong, the United States, the UK, Canada, Switzerland, and the UAE, the company allows NRIs to purchase or sell securities from almost every country in the Indian stock market.
• Moreover, the UAE awarded the company with the Qadat Al Tagheer (QAT) award for offering top-notch financial advisory services to the NRIs.
• It facilitates a quick and convenient process to open the NRI account online via video verification.
• The IIFL Securities NRI Account holders can trade in various investment products.
• NRIs can conveniently invest in Indian mutual funds by logging into a dedicated mutual fund investment platform.
• The brokerage house guides its NRI clients by providing in-depth research reports, financial services, and dedicated customer support.

After learning the benefits of investing with IIFL Securities, you might be tempted to have an NRI account with the broker.

In such a case, you should know about a pivotal requirement to set up an NRI account, i.e., the fee to open the account.

It’s a must for any NRI desiring to set up an account with the organization to pay Rs.750, a one-time fee.

Once your account is opened, you must incur the IIFL Securities NRI Account AMC charges of Rs.400 + 18% GST.

Paying these charges will assure you your NRI account is appropriately maintained.

Apart from account opening and maintenance fees, it will help if you are prepared to incur brokerage charges when trading in India.

IIFL Securities NRI Account Brokerage entails charges to trade in the equity delivery segment and equity futures and options.

Whether you place trade orders for equity delivery PIS or non-PIS, the firm will ask you to pay 0.5% of the transaction value.

NRIs must pay 0.05% of the transaction value as a brokerage to place trade orders for equity futures. You can also trade in equity options only after paying 150 INR per contract brokerage.

How to Open IIFL Securities NRI Account?

Below are the steps following which you can Open an IIFL Securities NRI Account:

1. With IIFL Securities, you can open an NRE or NRO demat account, bank account, PIS account, or NRI trading account. You must choose which account you want to open.
2. After choosing the NRI account type, fill in the account opening form below with your correct details and submit it. Once your form is submitted, an executive from the company will contact you. He will provide you with the relevant account opening form and guide you if you need help.
3. Alternatively, you can visit the IIFL official website to access the NRI account opening form. Please enter the details asked in the form, attach mandatory documents, and dispatch them to the company’s office.
4. Once the KYC is completed via video verification, the firm will create your account within a few working days.

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An NRI must upload or courier the following listed documents to Open IIFL Securities Non-Resident Indian Account:

• An NRI must sign the form submitted to open an NRI account.
• Documents like an Aadhaar card, driver’s license, bank statement, Indian passport, or overseas passport to verify your overseas and Indian address.
• Copy of PAN card for an NRI
• A cancelled cheque from your NRO or NRE bank account
• Valid passport and work, study, or employment VISA
• Passport-size photo and PIS letter from your bank
• The firm asks NRIs to submit the cheque for the account and demat opening charges.

Another note is that NRIs must get these documents attested from an official notary public.

IIFL Securities NRI Account – Top Features

Read this section to learn the features of IIFL Securities for NRI that can make your trading experience seamless:

• The NRI account provides the same facilities as the resident account with IIFL Securities.
• Corporate benefits like stock splits, dividends, bonuses, or interest will be automatically credited to the NRI bank account linked with the firm.
• You can trade in equity delivery, futures, and options and invest in mutual funds.
• Another USP of an NRI trading account with a full-service broker is it offers a range of financial services, from demat to IPO and PMS.

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You will not feel short on financial products when opening the IIFL Securities NRI Demat Account.

Although NRI clients can’t trade or place intraday orders, they can still trade in the equity delivery segment.

In addition, NRIs can hold up to approximately 5% of the paid-up capital in any organization registered in India via a stockbroker.

Initial Public Offerings (IPOs) present new investment opportunities for investors. Any NRI looking forward to grabbing these opportunities can do so via IIFL Securities.

Also, non-Indian residents can trade and invest in equity options, futures, exchange-traded, and mutual funds.

After covering the company’s product offerings, let’s discuss the services IIFL Securities NRI Trading Account provides.

First, you can’t begin trading in India without a demat and trading account with an Indian stockbroker.

IIFL Securities guides you in opening and maintaining these accounts through its demat and trading services.

Next, F&O services are available to make it easier for NRIs to trade or invest in futures and options. IPO services assist NRIs who are looking forward to investing in IPOs introduced by Indian companies.

Now that you are investing your funds in different types of products, it can be challenging to maintain your investment portfolio. In such a case, you can ask the firm for its PMS or PCG services.

In this section, you can learn about the IIFL Securities NRI Support desk contact channels and information.

The customer care number for NRIs is 022-40071000, and you don’t have to incur any fee to contact the company’s helpline desk.

Alternatively, you can create a mail specifying your queries and send it to [email protected].

The brokerage house will also provide you with a dedicated dealer and trading support to guide you through profitable trades and investments.

The website support link in the table is another way to connect to the firm’s customer support team.

Moreover, IIFL Securities provides customer support through social media channels, including Facebook, Twitter, Telegram, and WhatsApp.

Here specified are the trading platforms NRI clients can log into to place trade orders online and track their investments online:

IIFL Market App: The IIFL Securities NRI App allows you to trade using your fingerprints. This advanced, user-friendly application is recognised as the best mobile trading app in the country.

Compatible with iOS and Android mobile devices, NRI clients can access robust features like news coverage, watchlists, advanced technical charting, price alerts, and more.

Mutual Fund Investment Platform: The mutual fund investment platform follows the IIFL Securities NRI Trading Platform list.

You can log in for free on this MF investment platform and gain insights into over 2,000 mutual fund schemes.

The platform allows you to select the MF scheme suitable for your financial goals and immediately invest with a few clicks.

An NRI should know that trading rules and regulations can vary from country to country.

Leveraging the following IIFL Securities Advisory for NRI can make it easier to trade in India while complying with country-specific trading rules:

Fundamental reports are available to know the nits and bits of the brokerage house and its financial standing.

The company provides technical reports to help NRIs understand the technicalities of trading in the Indian stock market.

In addition, you can go through IPO reports to choose the appropriate IPOs for investment.

Furthermore, stock picks and relationship manager support allow you to make trading decisions confidently.

IIFL Securities NRI Charges

Here is the breakdown for STT, stamp duty, pledge and margin, transaction, and IIFL Securities Hidden Charges for NRI:

• STT charges: STT charges is 0.1% on Equity Delivery transactions. When selling equity futures or options, you will deposit 0.0125% and 0.0625% STT charges on premiums.
• Stamp duty charges: Regarding stamp duty charges, they entail a 0.015% fee on buying assets in the equity delivery segment, 0.002% on buying equity future, and 0.003% on purchasing equity options.
• Transaction charges: For equity delivery transaction, you need to pay 0.00335% of transaction value in NSE and as per stock in BSE.
• Pledge and margin charges: The firm charges a flat fee of INR 25 for each request to create and invocate a pledge. In addition, interest on margin trading will be 0.073% per day.
• Hidden charges: IIFL Securities charges SEBI turnover charges of INR 10 per crore on all segments, 18% GST on brokerage, SEBI, and transaction charges, and 50 INR as call and trade charges. Moreover, you must pay for closing, reactivating, and dematerializing the account.

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IIFL Securities NRI Account Review – Conclusion

IIFL Securities is a prominent full-service stock broking company providing NRIs with India’s best trading and investing avenues.

With its global presence, the firm allows non-Indian residents to seek branch services.

Moreover, although the brokerage house levies relatively higher brokerage, you can expect various financial products, user-friendly trading platforms, and charge-free advisory and customer support.

You can learn all the facilities available for NRI clients in this IIFL Securities NRI Account Review.

Creating an NRI account with the stockbroker is a mandatory choice that can provide you with fruitful results.

FAQs on IIFL Securities NRI Account Review

Check out various FAQs related to the IIFL NRI Account here.

How to Open an NRI Demat Account in IIFL Securities?

IIFL Securities offers a convenient online account opening process, which you can learn in the “How to Open IIFL Securities NRI Account?” section.

How to Convert the IIFL Securities Account to NRI?

Any individual who recently became an NRI can transform his trading account into an NRI account by filling out the requisite form and submitting essential documents.

What is AMC for NRIs in IIFL Securities?

The account maintenance charges for NRIs entail INR 400 in addition to 18% GST.

What are Account Opening Fees for NRIs in IIFL Securities?

Any person living outside India but originally from India can open an NRI account in the company by paying Rs. 750.

Which Assets are Restricted for Trading in IIFL Securities for NRIs?

Regarding trading restrictions, an NRI can’t place intraday orders or trade in commodities and currencies.

The broker also doesn’t allow short selling. An NRI demat account can hold a maximum of 5% paid-up capital in any Indian organization.

Can an NRI invest in a Mutual Fund in IIFL Securities?

NRI account online investing is allowed in the mutual fund segment.

What is the Brokerage for IIFL Securities NRI?

NRIs must pay a brokerage of 0.5% when trading in the PIS and non-PIS segments of equity delivery.

They can place equity future orders after paying 0.05% of the transaction value, and the brokerage for trading in equity options is 150 INR.

Can an IIFL Securities NRI Account be Opened Online?

IIFL Securities facilitates an online NRI account opening process for people living abroad who can’t visit the company’s branch.

What is the Helpline Number for IIFL Securities NRI?

A toll-free, dedicated helpline number the firm provides for NRIs is 022-40071000.

Which documents are required to open an IIFL Securities NRI Account?

Here specified are the document requirements for NRIs to open their NRI account with the stockbroker:

• NRI account opening form
• Passport size photo
• Overseas and Indian Address proof
• Account opening charges cheque
• Demat opening fee cheque
• PAN card
• OCI or PIO
• PIS letter from the bank
• Valid VISA
• Valid passport
• NRE or NRO bank account cancelled cheque