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Aditya Birla Money Open Account | Account Opening Process Review


Aditya Birla Money Ltd (ABML) is a Chennai based stock broking and financial services company. It is a part of the Aditya Birla group. The company offers services in equity, derivatives etc., across BSE and NSE. The commodity trading services are offered by its wholly-owned subsidiary Aditya Birla Commodities Broking Limited. It also offers services in PMS, Mutual Funds, depository services and e-insurance repository services.

Aditya Birla Money Ltd offers its services online as well as offline through its 41 branch offices and over 800 franchisee offices in various parts of the country. These branch offices act as customer service points for account opening and issue resolutions.

Being a full-service brokerage company, it also conducts technical and fundamental research and regularly publishes reports on different segments, businesses and the economy.

Key Facts About Aditya Birla Money Ltd

  • Full-service broker with over 25 years of trading experience
  • Member of BSE, NSE, SEBI, NSDL and CDSL
  • Serves over 345,000 customers
  • Dedicated research team
  • Offers online as well as offline services
  • Offers PMS, trading, depository, PMS and e-insurance repository services
  • Strong presence across India with 40+ branches and 800+ franchisee offices

Products Offered by Aditya Birla Money

  • Online Trading
    • Equity Trading at BSE, NSE
    • Commodities Trading at MCX and NCDEX (via Aditya Birla Commodities Broking Limited)
    • Currency Trading at NSE
  • Depository Services (Demat Account)
  • Portfolio Management Services
  • Mutual Funds
  • e-Insurance Repository

Aditya Birla Money Account Opening

There are 3 ways to open an account with Aditya Birla Money:

  1. Online Account Opening (Instant Paperless Account)

ABML offers an Instant paperless account opening process. This allows you to open a trading and demat account online in just a few minutes. This process is based on eKYC and Aadhaar. You need to have your current mobile number linked to your Aadhar for OTP verification. It doesn't require you to fill a form and send to the broker.

Steps of Instant Trading & Demat Account Opening:

  • Fill in your personal detail like Name, Email ID, DoB, PAN and Aadhaar Number
  • Validate your Aadhar card information pulled from KYC Database.
  • Fill in your Bank details like Account Number and IFSC Code
  • Upload documents (Scanned copy of Cancelled Cheque leaf and Income Proof like Bank Statement)
  • Pay account opening fee online.
  • E-Sign your application using Aadhaar OTP received on the mobile number linked with your Aadhar.

The process takes just a few minutes. Once you submit the application, it is verified by company executives. The account is opened in the same working day provided all your documents are in order.

  1. Visit ABML Branch Offices

Aditya Birla Money has over 40 branches located across major cities in India. You could visit any of these branch offices nearest to you and complete the account opening process.

  1. Contact Customer Support

If none of the above account opening options works for you, it is suggested to call or email Aditya Birla Money customer service for account opening. The customer service executive will assist you in opening a trading and demat account.

Documents needed for account opening

You need the following documents to open a trading and demat account with ABML:

  • PAN Card (HUF Pan Card & Karta Pan Card for HUF account)
  • AADHAR Card
  • Address Proof- Ration Card/Voter ID/Utility Bill with complete address
  • Latest Bank Statement with IFSC/MICR Code
  • Photocopy of the Bank Passbook or Bank Statement showing Account Number, Name & Address
  • Cancelled Cheque
  • 2 Passport Size Photographs

All the documents need to be self-attested. Note that additional documents for income proof are required to trade in derivative segments.

Check Account Opening Status

Online account opening application is processed the same day provided your documents are in order. For offline account opening, it takes up to 7 working days. To check the status of your account, please call customer services or visit your branch office.

ABM Account Closure Form

Aditya Birla Money offers 2-in-1 trading and demat accounts. If you need to close these accounts for some reason then you can do it anytime.

However, to expedite the account closure process, it is advisable to ensure a few things like-

  • Empty your demat accounts by selling or switching your existing securities to another demat account.
  • Close all Futures and Options positions.
  • Clear any dues with the company.

Please note that the account closure process is purely offline and cannot be done online or over the phone. You need to get a physical account closure form, fill and sign it and submit it to the company. For joint accounts, the signature of all account holders is mandatory.

Steps to Close Aditya Birla Money Account

  1. Visit the company website, click on the 'Downloads and FAQs' tab at the top menu. Again click on the 'Downloads'. Now click on the 'Change Request' Tab and download the appropriate account closure form as per your DP. Please note that there are separate forms for CDSL and NSDL DP. Also, there are separate forms to close only trading or only Demat or both accounts.
  2. Print the form, fill and sign it.
  3. Attach copies of required documents.
  4. Sent it to the Aditya Birla Money office address provided in the form or submit it to your nearest branch.

Note-

  • Any balance funds in your account will be transferred to the bank account mentioned in the account closure form.
  • You will receive an account closure intimation and final statement of the account on the closure of the account.

In case you do not receive any intimation for account closure in 2 weeks of submitting the form, follow-up with the branch office or customer service as per your convenience.

Aditya Birla Money Account Opening Charges

Customer pays account opening fee for trading account opening with Aditya Birla Money. The account opening fees are as below:

  • Aditya Birla Money Account Opening Charges (Trading Acct): Rs 750
  • Aditya Birla Money AMC Charges (Trading Acct): Nil
  • Aditya Birla Money Account Opening Charges (Demat Acct): Nil
  • Aditya Birla Money AMC Charges (Demat Acct): Rs 436

FAQ's

  1. How long does it take to open an account with Aditya Birla Money?

    The online account can be opened instantly if you are applying online. For an offline paper-based application, it takes up to 7 working days to activate the account.

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  2. What all documents are required for account opening with ABM?

    You need the following documents to open a trading and demat account with ABML:

    • PAN Card (HUF Pan Card & Karta Pan Card for HUF account)
    • AADHAR Card
    • Address Proof- Ration Card/Voter ID/Utility Bill with complete address
    • Latest Bank Statement with IFSC/MICR Code
    • Photocopy of the Bank Passbook or Bank Statement showing Account Number, Name & Address
    • Cancelled Cheque
    • 2 Passport Size Photographs

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  3. Who can open an account with Aditya Birla Money?

    All resident Indians and Non-Resident Indians (NRIs) can open an account with Aditya Birla Money.

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  4. How do I know if my trading account is opened with Aditya Birla Money?

    Once the documentation is in order and the account opening procedure is completed, you will be informed by a registered post about the details of your trading client code, login id and password etc.

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  5. Do I need to maintain a minimum balance in my ABM trading account?

    No, you don't need to maintain a minimum balance in your trading account. You can manage funds in your trading account as per your trading needs.

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