IIFL Securities NRI Account Opening, Charges and Services Review

 
 
 
 
 

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IIFL Securities NRI Account Review 

IIFL Securities is a part of IIFL Group. IIFL group was incorporated in the year 1995 while IIFL Securities was incorporated in the year 1996. It is among the largest independent full-service stock broker house that serves various retail and institutional clients. It provides an online trading and research-based advisory services for the complete range of financial products that includes Stocks, Derivatives, Commodities, Insurance, FDs, Mutual funds, Loans, IPO, Bonds and NRI account services etc.

IIFL Securities offers 2-in-1 account i.e., both IIFL securities NRI account joint demat and trading account. It allows trading in across stocks, equity derivatives and investments in Mutual Funds, IPOs and Bonds. IIFL securities NRI account is explained well below.

IIFL NRI Account Brokerage Charges

Segment wise IIFL NRI brokerage charges are given below:

Segment

Charges

F&O

₹10 per executed order

Equity

₹200 or 0.1% per executed order

Equity (Non-PIS account)

₹100 or 0.5% per executed order


IIFL NRI Services

IIFL securities NRI account services offers its customer IIFL securities NRI trading account and IIFL securities NRI demat account facility. NRI stands for Non-Resident Indian. NRIs need to open their bank and custodial account. IIFL NRI account PIS Permission is required to make investment in stocks. PIS stands for Portfolio Investment Scheme. PIS is provided by your respective bank. A custodial participant code (CP Code) in order to trade in equity derivatives (F&O) is required. It supports ICICI for the custodial account that is required for trading in equity derivatives.

IIFL Securities supports PIS from the following Banks:
• Axis Bank
• HDFC Bank
• RBL Bank
• Federal Bank
• State Bank of Mauritius
• YES bank
• Kotak Bank

IIFL Securities NRI Account Opening Documents

There are some IIFL securities NRI Account Requirements. List of Documents Required to open NRI account in IIFL securities is given below.
1. Passport (PIO and OCI card is required and birth place in India)
2. Visa.
3. PAN Card.
4. Overseas Address Proof
5. PIS Permission Letter
6. Bank Account Proof.

How to Open IIFL Securities NRI Account?

IIFL securities NRI account application can be submitted online.
IIFL securities NRI account opening process is given below:
1. Visit IIFL securities.
2. Scroll down and click on NRI services.
3. Enter your Email ID, Mobile Number and select the account type.
4. Create a User ID and password.
5. Fill in your required personal details.
6. Enter your bank account details.
7. Upload the soft copies of required documents.
8. Choose a plan for trading of your choice and submit.

IIFL Securities NRI Account Rules

Some of the important points to remember while using IIFL NRI Account:
1. IIFL securities NRI account holders cannot trade or place intraday orders. NRIs are allowed to trade on delivery basis only.
2. India Infoline NRI trading (IIFL NRI trading) account does allow trading or investing in commodities and currency segments and in their derivatives.
3. Short selling is not allowed in IIFL NRI trading account.
4. As per the rule of the Reserve Bank of India (RBI), an IIFL NRI demat account or any demat account can hold up to 5% of the paid-up capital in an Indian company.
5. IIFL securities NRI account online trading or investing is allowed in the below segments only:
a) Equity – Only cash
b) Mutual fund
c) IPO
d) Options
e) Exchange Traded Fund
f) F&O (only via NRO account)

IIFL Securities NRI Account Trading Process

After opening all the necessary accounts, IIFL securities NRI account works will so that NRIs can trade seamlessly online in their desired stocks. Steps to trade online are:

a) Transfer Money into PIS account- In order to invest or trade, NRIs needs to transfer the money from their PIS Bank account.
b) Place Buy or Sell Order- An individual can buy or sell order by using the various IIFL NRI Trading Software. In case the bank has enough fund to proceed with the order then the trade is executed per order basis. The customer receives a confirmation message for the same.
c) Submit Contract Note- IIFL sends various contract notes for buy or sell transactions to the banks at the end of the day. Based on the buy/sell order the bank transfers the fund to the broker or the broker transfers it to the bank.
d) Stock Settlement- The stocks are credited or debited to or from the demat account in T+2 days based on the buy or sell order request.

Note:
1. The investment amount for IPOs, Rights and Bonus shares will be debited or credited from the NON-PIS Bank Account.
2. Before placing an order an NRI does not need to transfer the amount from a savings bank account to the PIS account.
3. The payment gets rejected in case there is an insufficient balance in the PIS bank account.
4. The separate transactions will be settled by the banks on the basis of their purchase and sale of securities.

IIFL Securities NRI Mutual Fund

IIFL customers can use the IIFL Mutual Funds mobile app for investing in various schemes IIFL by IIFL securities NRI account login. NRI account mutual funds allows customers to buy, sell, initiate SIP, track and monitor the various types of mutual funds.

Some of the main features of IIFL Mutual Fund includes:
• Free mobile app for mutual fund investing including mutual funds from the top AMCs.
• NRIs can select SIP investment option through E-mandate.
• The customers receive research insights on mutual funds to provide better investment decision making.
• It monitors the fund performance from anywhere and at any time

Unique Selling Point (USP)

The Unique Selling Point of IIFL securities NRI Mutual Fund Investment are:
• It has a wide range of Investment products.
• It provides a loyal and dedicated Relationship Managers (RM).
• It has an in-house research team.
• IIFL NRI account process has an online account opening by the video verification process.

Advantages of IIFL Securities NRI Account

Benefits of IIFL Securities NRI Account is Given Below:
1. IIFL NRI account can buy or sell securities in Indian stock market easily from any country.
2. IIFL Securities serves its customers by providing with a dedicated relationship manager, research reports and a broad range of products and services.
3. IIFL NRI account opening provides simple and online IIFL NRI account procedure.
4. It provides a convenient mutual fund investment via mobile app as IIFL NRI account app or via IIFL NRI account website.
5. It is part of trusted IIFL Group, a financial services conglomerate.

Disadvantages of IIFL Securities NRI Account

1. IIFL brokerage charges for NRI is higher as compared to the other stock broker.
2. It does not provide the facility of three-in-one account. The NRI has a compulsion to open a NRI Bank account and custodian account on their own.
3. Foreign currencies kept in an NRI account are incline to risk as (if) might subject to currency conversion.

IIFL Securities NRI Customer Care

IIFL Securities NRI customer services is good. You can contact on IIFL NRI customer care.
IIFL Securities NRI account customer contact number - +91 22 4007 1000
IIFL Securities NRI account email address - cs@iifl.com


Frequently Asked Questions


Brokerage charges of IIFL starts form ₹20 per executed order depending upon the segment.
Brokerage charges for IIFL securities depends upon the brokerage plan chosen by you.
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.
IIFL broking firm brokerage charges starts from ₹20 per executed orders.
• 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.

IIFL Securities Reviews