IIFL AMC Charges

Opening a Demat and trading account in one of the leading full-service brokers, IIFL (India Infoline) is super easy and quick, however, there are some charges levied for the maintenance of the account known as IIFL AMC charges.

IIFL has been doing a tremendous job in financial terms serving more than 4 million satisfied clients. 

Since 1995, it has been offering impeccable services to clients in trading and investment segments such as Equity, Derivatives, IPO, Currency, Commodity, Fixed Deposits, Mutual Funds, and much more!

AMC stands for Annual Maintenance Charges and hence, as the word describes IIFL charges fee for handling and monitoring Demat account per annum.

Once you are connected with IIFL, you will be required to pay a certain sum of amount, a commission and other fees related to your Demat account.

Through this review, you will have a better understanding of the IIFL AMC charges.

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IIFL Annual Maintenance Charges

Opening a trading account with IIFL is absolutely free of cost however, IIFL AMC charges are applicable on opening a Demat account. 

Of course, you can use the IIFL forms to open your account as well.

Previously, a customer had to pay an account opening charge and AMC according to various brokerage plans. In the IIFL Z20 brokerage plan, all the charges have been updated to provide their clients with affordable charges.

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IIFL Free Demat account maintenance fee of ₹ 450 per year from the investor or trader. These charges are applicable once you open a Demat account with the full-service stockbroker.

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To make it more clear, please have  a look at the below table:

 

Fortunately, opening a Demat account with IIFL is completely free of cost. Hence, you only have to pay ₹ 450 per year to maintain your Demat account and no charges are applicable on the Trading account.

Under this new brokerage plan, the AMC has been waived off for the first year.

There are other charges associated with the opening of a Demat account like you have to pay IIFL DP charges every time, you sell shares held in your account.

You can open a Demat account from IIFL through the online and offline process. To open a Demat account with IIFL you can follow the below steps:

• Visit the IIFL official website and select the “open Demat account” from the Main header- “Demat Account”.
• Simply, write your Name along with your mobile number and click on the open account. 

Also Read: How to open a Demat account with IIFL?

There are some documents that will be required while opening a Demat account and one needs to have them before the starting of the process.

If you are having an IIFL Demat Account and are not having any holdings in the account, then it is good to close the account. This will prevent you from paying the annual charges.

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Closing Thoughts

Formerly known as India Holdings Limited, IIFL is a perfect place to meet all your financial requirements within your budget.

While opening a demat account with IIFL is completely free, however, IIFL AMC charges are ₹ 450 and currently, IIFL is offering the ZERO maintenance fee for the first year. Wow! That’s great. Right?

That means for the first year, an investor or trader will only earn and make profits. Although, he or she has to pay IIFL Brokerage charges and other fees like Goods and Service Tax, Securities Transaction Tax (STT), etc. for each transaction through the Demat account.

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