Home Featured What is a Demat Account? Benefits of Opening it With IIFL Securities 

What is a Demat Account? Benefits of Opening it With IIFL Securities 

by Priya Agarwal

It is essential to open a Demat account for investing in the Stock Market in India. IIFL Securities is one of the leading Stock brokers in India. A stockbroker is a Depository Participant (DP) that helps you open a Demat account in any of the two depositories like Central Depository Services Limited (CDSL) and National Securities Depository Limited (NSDL) in India. Both CDSL and NSDL maintain Demat accounts in India. 

Why Do You Need a Demat Account? 

The Securities and Exchange Board of India (SEBI) has made it mandatory for every trader or investor to open a Demat account. Without a Demat account, one can not hold or trade in any financial assets.

  • A Demat account allows you to store various financial assets such as Bonds, Shares, Mutual Funds, ETFs, Futures & Options, etc., in an electronic form. 
  • A Demat account serves as a safe wallet to hold your financial assets. It eliminates any chance of loss or theft of your financial securities. A Demat account also removes the possibility of fake signatures, which used to happen with physical share certificates in the olden days.
  • It helps to convert your physical share certificates into dematerialised form. 
  • Opening a Demat account helps to monitor and track all your financial assets from one place. 
  • You don’t need to maintain a minimum balance for a Demat account. This factor is a boon for investors who are not daily traders. 
  • With a Demat account, you can seamlessly transfer your securities from your Demat account to your Trading account for selling them. You can even transfer your securities from your Trading account to your Demat account for storing them. 

Open a Demat account on IIFL Securities 

You need to fill-up the form for opening a Demat account with IIFL Securities, where you need to provide your name, address, email ID, and phone number. Opening a Demat account requires you to be KYC-complaint. Before submitting your documents for the Demat account opening, you must complete the online KYC (Know Your Customer) process. Submitting documents for Demat account opening is dependent upon your citizenship. You will get an Acquire Beneficial Owner Identity (BOID) to access your Demat account once they verify your documents successfully. 

Here are the different documents that you need to submit when opening a Demat account with IIFL Securities —

  1. Proof of Identity
  2. Proof of Address 
  3. Proof of Income

What are the Benefits of opening a Demat account with IIFL Securities?

IIFL Securities provides a free Demat account. There are multiple factors to consider when choosing  IIFL Securities to open a Demat account. These are —

  • There is a paperless process for opening a Demat account.
  • You can choose CDSL or NSDL at your convenience.
  • You can seamlessly link your Demat account to your Trading account. 
  • You will get zero AMC charges for one year on your Demat account.
  • There is the availability of in-depth research about companies and their stocks.
  • You will get financial reports regularly. 
  • You can get recommendations from industry experts.
  • You can freeze your Demat account when needed. 
  • You can resolve issues related to your Demat account conveniently. 

If you are a beginner or an experienced investor, you can opt for IIFL Securities to open a Demat account and enjoy benefits. IIFL Securities also comes with lots of offers and gift vouchers for its customers. You can get access to live charts and updates on various securities on IIFL Securities. You can also get other related news and events. You can use an online calculator by IIFL Securities to determine your investments. 

Visit here to get information about Open Demat account.

IIFL Securities allows you to open a trading account to trade in different types of Securities efficiently. With a Trading account, you can execute any Trading volume instantly. You don’t need to wait for several days to settle your trades. 

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