What Documents are Required to Open IIFL Demat Account?

As a first-time investor, the very first question that might come to your mind will be What documents are required to open IIFL Demat account?

Don’t worry! This document will guide you with all the necessary information that you need to know about opening the IIFL Demat Account, and How to trade in IIFL.

Opening a Demat account with one of the prominent full-service stockbrokers, IIFL– India Infoline is pretty easy and is a completely straightforward process.

To start earning passive income, IIFL offers diverse trading and investment segments such as Equity, Mutual Funds, Derivatives, Currency, Commodity, IPO, Fixed Deposits, etc. through IIFL Trade Terminal (desktop app) and IIFL Markets App (Mobile App), it is important to have a Demat account.

The Demat account could be opened with any one of the depositories of India – CDSL or NSDL with the help of IIFL. 

Also Read: How do IIFL Demat account works and its pros & cons?, and IIFL AMO.

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Eligibility to open a Demat account with IIFL

Before questioning what documents are required to open IIFL Demat account, it is important to know whether you are eligible for opening the account or not.

IIFL has shared the below categories of the people who can open a Demat account with them:

• Indian citizens or Indian residents
• Minors of India
• Non-Resident Indian (NRI) 
• Non-Individuals 

Non-Individuals comprise the public or private limited companies or Trusted companies, etc. such as Corporate entities, Registered/Unregistered trusts, Partnership companies, Registered societies, and even the Unregistered ones too, Association of Persons (AOP) and Limited Liability Partnership (LLP). 

However, in the case of minors, the parents or guardians of the minor are eligible to operate the Demat account until the account holder or minor reaches the age of 18. Thus know the full procedure about How to open minor Demat Account? which includes Documents required for Minor Demat Account and much more valuable information like this.

Furthermore, along with the aforementioned list, Banks and Mutual Funds can also open Demat accounts with IIFL by submitting all the essential documents that we will be discussing below.

Also, once you have opened the IIFL Demat account, you get all the benefits along with the IIFL DP ID. and if you are interested in Intraday Trading. You can know more about it at How to do Intraday Trading in IIFL.

Also, if you have a demat account with other broker and thinking to shift to IIFl, in this case you should know about How to Transfer Shares in IIFL Demat Account?

Also, know about IIFL Free Demat Account.

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What Documents are required to open IIFL Demat account?

While there are a plethora of documents required by the IIFL, depending upon the type of category of the people the account holder belongs to, there are a few documents that are required in every category. 

The documents required to open IIFL Demat Account:

• Proof of Identity
• Proof of Address
• Passport size Photographs
• Income Proof
• Canceled cheque

PROOF OF IDENTITY: The documents falling under Proof of Identity must be registered with the Government of India and must have your clear photograph. Some of the documents are listed below:

• Permanent Account Number (PAN) 
• Ration card
• Adhaar card
• Driving License
• Voter ID card
• Passport

An account holder can also attach the documents authorized by the Central or State Government of India, Public Sector Undertakings (PSUs), Affiliated College or University, Public Financial Institutes, etc.

PROOF OF ADDRESS: To effectively fit into this category, you will be required to submit a valid proof having your current address. Any of the below documents can be submitted to IIFL for opening a Demat account:

• Adhaar card
• Passport
• Voter ID
• Utility Bill – Gas, Phone, Water or Electricity Bill, should be of last three months
• Driving License
• Any document issued by Government authority.

INCOME PROOF: Another set of documents essential while opening a Demat account with IIFL is the document containing proof of your income which can be any from below list:

• Six-month bank statement
• Recent six months salary slip or Form 16
• Chartered Accountant (CA) issued Net Worth certificate

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Documents required for an NRI to open IIFL Demat account

If you are a non-resident of India currently living in abroad and wish to open a Demat account with IIFL, then you will be required to have the following documents in your hands:

• Any Indian Address Proof
• A letter of Portfolio Investment Scheme (PIS) issued by RBI
• PAN card copy
• Any Foreign Address Proof
• Your Bank proof such as Passbook, etc. showing the details about NRE or NRO savings account

These are the basic documents required by IIFL to open a Demat account with them. If you choose the online process, all you need to do is attach these documents in the desired sections and within a few minutes, your account will be active.

If you choose an offline method, the representative of IIFL will be arriving at your doorstep with the list of documents required from your end.

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Conclusion

Apart from these documents, there are some other identifications or other proofs that could be required by IIFL depending on your application type. However, to open a Demat account with IIFL is super easy and quick without the hassle of having inaccessible documents. 

To open an IIFL Demat account, the aforementioned documents must be available with you (anyone from a list). Also, opening a Demat account with IIFL is a super straightforward process where an investor or a trader needs to pay a Zero amount for opening the account.

Along with this, in case you are an NRI, you must have these documents signed or authorized by the officials or Public/Private Institutes or offices or boards of India. Even a judge or a notary can attest your documents too.

Having all these documents in your hand will allow IIFL to activate your account quickly and smoothly. Also, it gives you a neat kick start at the very beginning of the trading and investing without any obstacle.

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Wish to open a Demat Account, please refer to the below form-

 

 

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