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IIFL Demat Account Opening
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India Infoline Limited abbreviated as IIFL Securities is a Mumbai-based broker that offers retail brokerage, financial services, and advisory. Incorporated in 1995, the retail broker is a part of the IIFL group – which is Indiaās leading financial service provider. Tempted on IIFL Demat account opening but not sure about the procedure? Weāve got your back!
IIFL offers Demat services for both CDSL and NSDL and allows its users to trade across BSE, NSE, MCX, and NCDEX segments.
Having an IIFL Demat Account means being able to view your entire trade portfolio at one place with high-speed staring platforms.
In this article, we will discuss how to open a Demat Account with IIFL. Stay tuned!
India Infoline Demat Account Opening
At times people tend to get confused about how to initiate the trade and many among them search for how to open NSE account.
Well, opening the NSE account is simply a gateway where again you have to pick the broker who can offer you a great trade experience.
To step into the trading world it is important to have the right guidance as well. IIFL offers you all the assistance that you are actually looking for through its branches located in various cities such as Jaipur.
Before jumping into details, let first clear the confusion between the Demat account and the trading account. Most beginners are not able to understand the difference between the two.Ā
So here is a brief part that helps you in getting your queries clear.
While both of these are related to each other, they are not the same. A trading account only enables you to buy and sell shares but a Demat account holds your shares, mutual funds, & ETFĀ in a dematerialized/electronic form and also allows IPO investments.
An IIFL Demat account can be linked to your trading account as well.Ā This helps you to gain a unique experience of IIFL trading. Besides, it helps you to carry out in-depth research and get expert recommendations.Ā
By opening the account with the firm, you can start investing in different IIFL Products like equity, commodity, currency right away. One of the biggest advantages of opening an account with the broker is that it doesn’t charge brokerage for delivery trading.
If you are interested in taking delivery of securities you may refer to how does IIFL calculate brokerage for the delivery trade.
The full-service broker offers the traders to open a Demat account online as well as via the offline method. Also, the broker does not charge any fees for opening the Demat Account, thus you can open the account for FREE!
In what follows, discussed is the step-by-step procedure of Demat account opening in IIFL.
There are two ways to open an IIFL Demat account. You may choose between the online and the offline method at your convenience.
While the offline way is a relatively easy one, the online way is completely paperless. Letās discuss both these methods in detail.
IIFL Demat Account Opening Online
This is an instant as well as a paperless method. The only prerequisite for this is that your mobile number (which you want to register with IIFL) should be linked to your Aadhar.Ā
Also, keep the scan of your PAN card, photo, and a cancelled cheque ready before proceeding with the online Demat account opening method.Ā
Hereās how to open a Demat account online in IIFL:
- Visit IIFLās official account opening page and enter your name, email id, and mobile number
- You can also use the IIFL forms for your account opening process kick-off
- You will receive an OTP and a link on your mobile number and email respectively
- Open the link and enter the OTP there
- Now, enter your PAN number, date of birth, and Aadhar number as and when prompted
- You will receive an OTP again to validate your AadharĀ
- Enter the OPT as this will allow IIFL to fetch all the required details via eKYC
- Now, it’s time for bank verification. Enter the bank name, your account number, the branch name, and IFSC code
- Then, select the investment options and the trading segments like IIFL Equity, Intraday etc as per your needs
- Upload scanned copies of your PAN card, photograph, and cancelled cheque/bank statement (not older than 3 months)
- Finally, choose among the various plans offered by IIFL as per your financial goals
- Pay the IIFL Demat Account opening charges and IIFL AMC charges.Ā
*Under certain schemes, IIFL does not charge any account opening or AMC charges for the first year. Thus, you can reap the leverage of a free demat account online.
This method is 100% online and requires zero paperwork. Also, it will take about 24 hours for your Demat account to be opened officially. This time is taken to validate and cross-check the documents and data provided by you.
Once your account is opened/active, you will receive a āwelcome emailā by IIFL on your registered email id.
This mail contains your IIFL Demat user id and the initial password. In case you do not receive the mail, check your email settings to ensure that the mail has not been sent to junk.
If you still donāt find it, follow-up with the IIFL customer support.Ā
Note that your IIFL Demat account number is none other than your user id that is sent by the broker on your registered email. Use it to log in to your IIFL account.
If you have already logged in for the first time, you may change the initial password and use the new password for further logins.
IIFL Demat Account Opening Offline
If your Aadhar is not linked to your mobile, you can opt for the offline method of the IIFL Demat account opening. Here you need to fill the account opening form and submit it with all supporting documents.
This is a very simple process wherein you just need to request a callback by providing your email and mobile number. The IIFL representative will visit your given address personally and you can understand the entire process in detail before initiating it.
Alternatively, you can also locate and visit the nearest IIFL local branch and get your Demat account opened there.
IIFL Demat Account Opening Form
This applies only to those opting for the offline method of account opening. You can either download the form online or get it from the nearest IIFL branch office.Ā
Alternatively, you may also schedule a personal visit and the IIFL representative and provide you with the Demat account opening form.
You can download the Demat Account by visiting the IIFL website.
Once you become the active customer of the broker you can start earning by reaping the benefit nef and offer ofĀ IIFL refer and earn.
To Sum Up
A Demat account with IIFL allows its clients to access the firmās trading and advisory platforms like IIFL Markets Ā Ā
You can check your IIFL Demat account details in your registered email after 24 hours of application. Along with this, if you opt for signing POA, in which on filling the IIFL POA form, your broker would be able to do trade on your behalf directly from your Demat Account.Ā
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