Already have a Demat account but looking to switch to IIFL. Well, you should learn how to transfer shares in the IIFL Demat account.
We don’t blame you for choosing the demat account services of the hugely popular brand that IIFL is. The full-service broker is certainly setting the standards in the industry.
The opportunity to trade, invest in a vast range of financial instruments such as IPO, NCD, Equity, Currency, Commodity, Derivatives, etc is certainly too good an opportunity to let go.
The process of transferring shares from one Demat account to another can come across as a complex one to some. However, that can largely be attributed to the lack of information regarding the same.
In this digital age where content is overflowing on the internet, reliable information seems hard to come by.
But, worry not. We’re here to sort your queries. This dedicated piece to ours will help alleviate your query regarding how to transfer shares in the IIFL Demat account.
How to Transfer Shares in IIFL Demat Account Online?
The stock market is a great source of making money. At the same time is a great deal of worry especially for the unaware participants of the stock market.
But in reality, the process to transfer shares in IIFL Demat account is a fairly simple process. All you need to do is fill in the DIS slip (Delivery Instruction Slip).
This slip is used to instruct your depository participant to transfer your funds from one account to another one. The DIS slip contains few fields that you should know about before putting pen to paper. These are :
DP Name – Here you mention the name of the DP you currently have an account with
Counter DP ID – Here you mention the DP ID of the IIFL Demat account where you want to transfer the shares.
Now, that you’ve understood the terms mentioned in the DIS slip, you can proceed further to transfer shares in IIFL Demat account. The process then follows these couple of steps:
You will be provided with DIS (Delivery Instruction Slip) at the time of the IIFL Demat account opening.
Fill in all fields in the DIS slip. Just make sure your writing is legible in the form, and the use of whiteners or correction pens is strictly prohibited.
Submit the form at the nearest IIFL branch or at the address mentioned below :
NSDL / CDSL DP Department
IIFL Securities Ltd.
601, Ackruti Centre Point, Central Road, Marol MIDC,
Andheri (East) Mumbai- 400093, Maharashtra.
Conclusion
If you’re already trading on the stock market and are absolutely appalled by the services of your current stockbroker, and are entertaining the thought of changing your demat account to IIFL Securities then here is the simplest way to transfer your shares to the IIFL Demat Account.
Well, the process can be considered plain and easy. After all, all you need to do is fill in a DIS slip that instructs your DP to transfer shares in your IIFL demat account.
Just make sure that all the mandatory fields are filled in carefully.
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