22 Lakh +
Demat account is an account that holds shares, bonds, ETFs and other such securities in custody. You can understand Demat account like a bank account. Just as a bank account holds cash in custody, the demat account holds stocks and other securities. Just as you can debit and credit cash and cheques to a bank account, you can debit and credit equities and other securities to a demat account.
In India, there are two national level depositories that hold shares in custody viz. National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). However, investors do not directly open a demat account with the depositories. These depositories authorize depository participants (DPs) to open demat accounts on their behalf. For example, IIFL Securities is a registered depository participant (DP) with NSDL and CDSL.
There are a number of compelling reasons for you to open a demat account with IIFL Securities. When we say, account opening is free of cost, there are actually No hidden charges. Secondly, IIFL is a name that inspires trust and when you hold your valuable assets in custody, you obviously want a name that inspires trust. One more advantage is that when you open a demat account with IIFL Securities, you get a lot of add-on benefits like email alerts, portfolio valuation, online demat access, online transaction statement, access to research and news on your holdings etc.
To open your free demat account through IIFL Securities app or website, submit your mobile number & email in the form.
To register with the DP and open a free demat account online , fulfilling KYC (Know Your Client) formalities is mandatory. You can submit your KYC details on the website or on the mobile application.
Once you have submitted your KYC details online, your DP client will verify your KYC details to ensure utmost transparency.
Upon processing your application, you will receive a unique 16-digit demat account number (BOID) by the DP. Once you get your BOID, you have successfully opened a free demat account with IIFL Securities.
Voter ID card
Votar ID Card
Income Tax Return
Statments of the bank account
Zero charges on account opening for your demat account at IIFL Securities, with no hidden charges.
Zero Demat Annual Maintenance Charges (AMC) for the first and very reasonable charges in subsequent years.
All your investment assets including equities, mutual funds, IPOs, derivatives or commodities can be held in a single centralized demat account to reduce hassles
IIFL also offers certain customized services for portfolio management which are tailor made for effectively managing your portfolio with monitoring and rebalancing.
The demat account at IIFL Securities comes with rich content and research support. Apart from quality investment picks from our award-winning research team you also get screeners.
Above all, the demat seamlessly integrates with your trading account and bank account to give a seamless hassle free capital market experience.
Get instant notification on your investments, Price alerts, Trading tips, Stock News & Manage your account, all on the go. IIFL Securities is the Highest Rated Trading App*.
A comprehensive web-based and software-based trading tool integrated into your free demat account with lightning-fast execution speed, world-class user interface and superior charting and analytical capabilities.
A Demat account is similar to a savings account in function, only that you hold securities and shares in dematerialised or electronic form instead of money. A Demat account allows you to initiate online trading with ease by linking your trading account to the DP account.
You can open a free Demat account and a Trading Account with IIFL.
You can open free demat account with IIFL to trade in Equity, Derivatives, Currency and Commodity segments.
The following individuals can open a trading and demat account:
Minors (Only Demat account. As sole holder)
Partnership firms (Demat account in the name of the Partners)
Registered/Unregistered trust (Demat account. In the name of the Trustees)
Registered/Unregistered society (Demat account. In the name of the Members)
Association of Persons (AOP)
FII/FPI (Only Trading Account)
LLP (Limited Liability Partnership)
Proof of Identity (PAN with photograph mandatory)
Proof of Address (Passport/ Voters Identity Card/ Ration Card/ Registered Lease or Sale Agreement of Residence/ Driving License/ Flat Maintenance bill/ Insurance Copy /Aadhaar Letter issued by Unique Identification Authority of India./ Telephone Bill (only land line)/ Electricity bill/
Gas bill/Bank Account Statement/Passbook - (Not more than 3 months old - as on date of receipt for documents).
Proof of Bank account
Income Poof could be pay slip, bank statement, Form 16 or Tax Return Copy (Mandatory in case of derivatives/Currency Segment )
Yes, you can open multiple demat accounts linked to the same PAN number. However, these accounts must be held with different depository participants. In other words, you cannot open more than one demat account with the same broker.
Thanks a lot for solving my query regarding transfer of shares and POA issue. Special thanks to Amrita for patiently listening and addressing each of my concerns.
I contacted you Customer service today for some enquiries and I was connected with Mr. Ashish Singh. Mr. Singh was terrific in tackling my queries and resolved it at one go. I have never spoken to such a professional guy. Hats off!
This is to appreciate Mr. Priyesh Bhagat with whom I interacted while solving my problem with logging in, I appreciate his involvement in understanding and solving the problem while following company guidelines, thanks to him and the management for giving customer oriented guide lines.
Bhagashree from IIFL resolved my problem within no time. Appreciate her dedication and commitment.
I spoke to Ashish from the IIFL CS team today. He was very helpful and very patiently assisted me through the procedure of reactivating my account, as it was dormant. He also helped me with my other queries. Thanks, Ashish, and Thanks IIFL.
Bhagyashree has been quick enough to address all my queries when i called up. Appreciate the professionalism. Keep it up!
Thank you for the excellent response to my query by Shraddha Chavan who despite the lockdown gave a quick response and resolution to my query. Thank you very much.
Dinesh Jagtap took great care of us. Provided us with all the information and did everything he can in the given situation. Keep up
It was a wonderful experience, Shraddha resolved all my queries in no time and was very clear in her explanations and advise. Thanks IIFL & Shraddha for helping me during this Pandemic. Great work & keep it up!
I had a very nice experience with Customer Support Executive Vetri Vasikaran. He was very helpful and helped me a lot.
This is Colonel Rakesh Bansal, 74 years old senior defence officer - Appreciate Ms Amrita Kadam for being a very patient, helpful & efficient staffer at your office. At our age we look for a person who will take away our worry & solve all our queries and she has done so in the past 3 months of our interactions.