Incorporated in 1995, Mumbai based India Infoline Limited is a diversified financial services group. India Infoline Limited (IIFL) Securities is the retail broking wing of IIFL and offers equity, commodities, currency, Futures and Options broking to retail and institutional customers. The company also offers other services such as research advisory and mutual funds to its customers.
India Infoline Limited is one of the few broking houses that are depository participants with NSDL and CDSL. India Infoline Limited offers a 2-in-1 account wherein a demat account and a trading account is linked together for seamless transactions between the two accounts.
IIFL is the depository participant (DP) of NSDL and CDSL. IIFL only acts as an intermediary between the customers and central depositories. The demat accounts are opened and managed with NSDl and CDSL through India Infoline Limited.
IIFL charges an account opening fee from its customers. The depositories also charge demat transaction charges for every transaction. There is also an Annual Maintenance Charge (AMC) which customers have to pay every year.
To open a new demat account with India Infoline (IIFL), customer has to pay demat account opening fee. Most share brokers also charge Annual Maintenance Charges (AMC). AMC is yearly fee charged to the customer to maintain the demat account with the broker. Find the India Infoline (IIFL) Demat Account Opening Charges and India Infoline (IIFL) AMC as below:
|1||Annual Maintenance Charges (AMC)||₹400|
|2||Debit Charges||0.025% (minimum ₹25 per transaction)|
|6||DEMAT - Per certificate||₹15|
|7||REMAT - Per certificate Per 100 Units/shares (Whichever is higher)||₹15|
|8||Conversion of MF units/Destatmentisation Per SOA||₹15|
|9||Reconversion of MF units in to SOA or Redemption/Restatmentisation Per SOA||₹15|
|10||Postal Charges per request shall be charged separately||₹40|
A demat account is an online repository where securities like shares, mutual funds etc., bought by you are held in digital formats. It works like a bank account. The bought securities are credited in the Demat account and sold securities are debited from the account.
On opening an account, you will be provided with a Demat account number which needs to be provided during every trading transaction. You can access the account online to get a complete view of your holdings and portfolio.
No, it is not compulsory. However, it is advisable that for seamless transactions you open a demat as well as a trading account.
IIFL provides its services to both individuals and institutions. Resident Indians, NRIs and Minors can open an account as individuals while Corporate Partnership firms, Registered/Unregistered trust and societies, Association of Persons (AOP), Banks, Mutual funds and LLP (Limited Liability Partnership) can open accounts as institutions.
IFFL asks its customers to sign a limited purpose Power of Attorney (PoA) while opening a Demat account. The PoA gives a written permission from the customers to IIFl to perform certain specific Demat activities like to debit the securities from the Demat account.
A DIS is an instrument to transfer securities held in one Demat account to another within the same Depository or between Demat accounts held with different Depositories.
Yes, you can open single, joint or account with multiple partners. However, you can only open a single trading account.
Securities held in a Demat account earn bonuses, dividends etc. This money is directly transferred to the bank account linked with the Demat account.
Yes, a minor can open a Demat account. A legal Guardian is appointed and his/her KYC documents are submitted along with documents of the minor.
Yes, there's no restriction on opening of multiple Demat accounts. However, Demat accounts attract AMC fees to be paid every year, so it is advisable that you open Demat accounts only as per your need.
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