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What is Demat Account?

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.

Why Open Free Demat Account With IIFL Securities?

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.

4 Easy Steps To Open Your Demat Account

  • Apply For A Demat Account Online

    To open your free demat account through IIFL Securities app or website, submit your mobile number & email in the form.

  • Submit The KYC Details Online

    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.

  • Get Your Documents Verified

    Once you have submitted your KYC details online, your DP client will verify your KYC details to ensure utmost transparency.

  • Acquire Beneficiary Owner Identity (BOID)

    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.

Keep The Following Documents Ready While Opening A Demat Account

Document Required for Opening Demat
  • 01. Proof of Identity (Any)

    PAN card
    Aadhaar card
    Voter ID card
    Passport

  • 02. Proof of Address (Any)

    Aadhar Card
    Votar ID Card
    Passport
    Ration Card

  • 03. Proof of Income (Any)

    Income Tax Return
    Salary slips
    Statments of the bank account
    Form 16

Benefits of Demat Account with IIFL Securities

  • Zero charges on account opening:

    Zero charges on account opening for your demat account at IIFL Securities, with no hidden charges.

  • Zero Demat Annual Maintenance Charges (AMC):

    Zero Demat Annual Maintenance Charges (AMC) for the first and very reasonable charges in subsequent years.

  • A single account for all investment options:

    All your investment assets including equities, mutual funds, IPOs, derivatives or commodities can be held in a single centralized demat account to reduce hassles

  • Customised services for portfolio management:

    IIFL also offers certain customized services for portfolio management which are tailor made for effectively managing your portfolio with monitoring and rebalancing.

  • Research and analytics benefits:

    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.

  • A hassle-free trading platform:

    Above all, the demat seamlessly integrates with your trading account and bank account to give a seamless hassle free capital market experience.

Wide Range Of Trading Options with IIFL Securities.

  • Equities

  • Depository Services

  • Mutual Funds

  • Currency Trading

  • IPOs

  • Commodities

  • Derivatives

  • PMS

We Have Made Investing Convenient - Anywhere, Anytime Through Our Platforms.

IIFL Securities Mobile App

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*.

Trader Terminal

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.

Frequently Asked Questions On How To Open A Demat Account

  • 01. What is a Demat Account?

    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.

  • 02. What are the different types of accounts that can be opened with IIFL?

    You can open a free Demat account and a Trading Account with IIFL.

  • 03. In which segments I can open an account with IIFL?

    You can open free demat account with IIFL to trade in Equity, Derivatives, Currency and Commodity segments.

  • 04. Who can open a Trading and Demat account with IIFL?

    The following individuals can open a trading and demat account:

    Individual
    Resident Individuals
    NRIs
    Minors (Only Demat account. As sole holder)

    Non-individual
    Corporate
    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)
    Bank
    Mutual funds
    LLP (Limited Liability Partnership)

  • 05. What are the documents required for opening the account?

    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 )

  • 06. Can you have multiple demat accounts?

    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.

FAQS on How to Open Demat Account

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