IIFL Mutual Fund Review - Charges and SIP
IIFL Securities Track Record Of Best Online Stock Broker In India
IIFL Mutual Fund Review - Charges and SIP
IIFL Securities is a part of IIFL Group and was incorporated in 1995. It is among the largest independent full-service stock broker house that serves various retail and institutional clients. The IIFL group is the leading financial service provider in that provides a broad range of services. It is the highly recognized brand for the quality of advice, personalized service and the usage of cutting-edge technology.
The full-service stock broker provides an online trading and research-based advisory services for the complete range of financial products that includes Stocks, Derivatives, Commodities, Insurance, FDs, Loans, IPO and Bonds etc.
The Unique Offering of IIFL is the Equity or Commodity Broker and Research. It was initially introduced as the retail broking firm and launched its 5paisa trading solution or platform. Its 5paisa firm provided the discount brokerage charges in the stock broking industry and also has given freedom to make the transactions by several traditional ways.
Benefit of IIFL Mutual fund
• It offers the free and online mutual fund account opening.
• It provides various in-house mutual funds schemes.
• It provides advisories regarding portfolio management and financial planning.
• An experienced and expert research team is especially available for mutual funds to help their clients in protecting and creating wealth by providing various research reports.
• You can choose and diversify your portfolio from number of schemes.
• It provides access to its all Mutual fund platforms for free.
• A mobile app is made available especially for Mutual fund investments.
• Single platform for all your investments records and maintenance.
IIFL Mutual Fund account opening procedure
IIFL Securities facilitates its customers with a free instant mutual fund account opening facility. Follow the below steps to open Mutual fund account instantly:
1. Go to the official website of ‘IIFL securities.
2. Click on ‘Mutual Funds’.
3. Click on ‘Open an Account’.
4. Fill the required basic details.
5. Create a user ID and Password.
6. Submit the form and fill rest of the required details.
IIFL Mutual Fund SIP
IIFL mutual fund SIP allows you to invest across 42 fund houses.
1. Online Mutual Fund SIP:
Follow the below steps to start Mutual Fund SIP:
1. Login to your IIFL mutual fund account.
2. Click on ‘Invest SIP’.
3. Select scheme and investment period you wish to procced with.
4. Select the Mode of the payment.
5. Click on Start SIP.
2. Offline Mutual Fund SIP:
You can contact your Relationship manger for offline mutual fund SIP and he will guide you accordingly.
Key Points of IIFL SIP Plans:
1. The customers can stop their SIP through the MF or by the assistance of relationship manager. It takes about 45 days to execute the request.
2. The minimal investment amount for the IIFL SIP plans is just ₹500.
3. The investment intervals can be chosen by the convenience of daily, weekly, monthly, bimonthly or quarterly of the investors.
4. It allows the redemption of SIP at any time. Some fund houses may charge an exit load that they have to pay in case withdrawing is done before the certain time interval.
5. It allows the investors to track the progress of mutual fund investments with IIFL.
IIFL Mutual Fund Investment Platform
1. IIFL mutual fund App:
This app is especially designed for mutual fund investment. You can easily download this app, named ‘IIFL MF’ from google play store or apple store. You can login to this app using your IIFL login credentials.
Features of IIFL MF App:
• It has an instant account opening facility.
• It provides easy online tracking of Mutual fund investments.
• It provides a safe and secure to use trading platforms.
• It provides experts advice online to create and increase the wealth.
• You can initiate Mutual Fund SIP with min Rs.500 only.
• It provides about 600 mutual funds from different fund houses and categories to choose from.
2. IIFL Trader Terminal:
It is a desktop-based trading terminal. The customers can make investments in Equity, Derivatives, Commodities, IPO currency and mutual funds with IIFL Trader Terminal. The customer needs to hold a IIFL trading and demat account. You can easily download this software by visiting official website of ‘IIFL Securities’. To access this software, you must have an IIFL trading and demat account.
Features of IIFL Trader Terminal
• It allows the creation of your own customized watchlist.
• It allows an instant order placing by a click only.
• It has safe and secure as it has Two-level authentication.
• It avails the customer to check the mutual fund performance.
• It allows investment by lumpsum or SIP mode of investment.
Advantages of IIFL Mutual Fund:
1. It is a dedicated and most trusted mutual fund app.
2. It offers various in-house mutual fund schemes.
3. It facilitates its customers with expert advice and recommendation for making investment in mutual funds.
4. It offers instant IIFL Mutual Fund Account opening facility.
Disadvantages of IIFL Mutual Fund:
1. They charge commission on the regular mutual fund from the other fund houses.
2. It offers direct mutual funds of IIFL only.
Frequently Asked Questions
Yes, the clients can have two separate trading accounts based on NRE and NRO.
The Headquarters of IIFL are located in India.
The customer can simply submit the documents to their Relationship Manager and the documents must hold a stamp of “Verified with original” and need to have signature of RM or branch manager.
FEMA provisions provides permission to the Indian Companies to issue right or bonus shares to existing non-resident shareholders that is subjected to adherence to sectoral cap as may be applicable.
An entity contracted to keep up the record of the owners of the stocks and the bonds that are issued by the company.
• A Resident Indian Individual Account. • HUF Account. • Partnership Firm Account. • NRI Account. • Minor Account. • Corporate Account. • Trust Account.
The transfer of securities from the account in one depository to an account in the other depository is termed as an inter-depository transfer.
No, the NRIs are not allowed to make Intraday transactions. They can only trade on delivery basis. Short selling is not allowed.
Rohit Sharma is the brand ambassador of IIFL.
The customer can square off the stocks through Non-POA holding under the holdings section by selecting the stocks you are willing to sell and authorizing the same via T-Pin procedure.
HDFC Bank, Axis Bank, RBL Bank, Federal Bank, State Bank of Mauritius, Yes Bank and Kotak Bank
As SEBI regulates the Stock Market, Forward Markets Commission (FMC) regulates the commodity market.
IIFL sends DP transaction that includes holding, bill statement (monthly) to their registered mail Id.
A Demat and a trading account can be opened with IIFL Securities.
SEBI has assigned DPs in order to determine the value of holding on to the basis of the daily closing price or Net Asset Value of the securities or the units of mutual funds. If the value of your holdings exceeds by the slabs then the DPs are permitted to change the same as they charge non-BSDA regular demat accounts.
Any transaction that involves delivery of securities to a clearing corporation or clearing house for sale of securities done on the stock exchange platform is termed as “On Market Transaction”.
IIFL POA form is signed for the limited purpose. It allows IIFL to perform limited activities in the demat account of a client like the debit of shares from the account. IIFL asks its customers about the Power of Attorney (POA).
CM BP ID stands for Clearing Member Business Partner Id.
You can simply contact the RTA of the company.
An individual needs to submit dematerialization request by sending a duly filled dematerialization request form to the DP along with the certificates of securities to be dematerialized.
The Securities that are held in the depository account can be pledged in order to avail the loan or credit facility. Pledge of Securities in CDSL/NSDL depository requires both the borrower and the lender to have an account within a same depository either in NSDL or CDSL.
The customers will receive SMS on the registered mobile number and a welcome mail on the registered mail id. He will also receive a welcome letter along with the welcome kit on the registered address. Further, the customers will receive the password on the registered mobile number.
IIFL Securities is among the best brokers in terms of its trading platform like IIFL Markets Mobile app, best research and advisory, complete investment option and the personalized PMS.
Your Relationship Manager will contact you in case there is any kind of rejection.
A minor can be nominated if he submits an Id proof and address of the guardian of the minor nominee shall be provided by the beneficial owner along with the birth certificate of minor.