How to switch demat account from IL&FS to Zerodha?
- The Annual Maintenance Charge (AMC) should be cleared with IL&FS for the demat account to be closed. See How do I pay the AMC for ILFS? AMC which have already been paid at the beginning of the year will be reversed on a pro rata bases for the year.
- Any AMC due for the IL&FS demat account is posted on the Zerodha ledger when the IL&FS demat account is switched to Zerodha. To pay the AMC due at IL&FS and to avoid it being posted to the Zerodha ledger, visit ilfsdp.com/eko-pay.asp.
To switch, the IL&FS demat must first be closed, and a new Zerodha demat account must be opened. To close the IL&FS demat, courier the IL&FS closure letter ( PDF ) and Zerodha demat application form ( PDF ) to Zerodha. To know how to fill out the IL&FS closure form, see How do I fill up the IL&FS closure form? Courier the documents to the following address:
153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru - 560078
Once the forms are received, the Zerodha demat account is opened within 3-4 working days & the IL&FS demat account is closed within 15 working days.
Did you know?
- This transfer would be considered as a closure cum transfer, i.e., closure of the account with IL&FS and transferring out the shares, for which there are no charges. For a joint account, write the name of the joint account holder and sign in the signature boxes.
- If the IL&FS demat account is linked to the Zerodha trading account, holdings cannot be seen or sold on Console and Kite. Stocks have to first be transferred to Zerodha demat account.
In the case of an NRI or non-individual, check the relevant articles for instruction on how to close the IL&FS demat and open a Zerodha demat.
- For an NRI account , see How do I switch my demat from ILFS to Zerodha? - NRI accounts .
- For a HUF account , see How do I switch my demat from ILFS to Zerodha - HUF accounts?
- For a corporate account , see How do I switch my demat from IL&FS to Zerodha - Corporate account?
- For a Limited Liability Partnership (LLP) account , see How do I switch my demat from IL&FS to Zerodha - LLP account?
- For a partnership account , see How do I switch my demat from IL&FS to Zerodha - Partnership account?