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How can the NRI demat account be switched from IL&FS to Zerodha?

To switch the NRI demat account from IL&FS to Zerodha, submit the following documents:

If the KYC status of the NRI is non-resident, there is no need to notarise the documents required for opening an account. If it is not, the documents need to be notarised by the Indian embassy or any other competent authority, such as authorised officials of overseas branches of scheduled commercial banks registered in India, public notaries, court magistrates, judges, or the Indian embassy or consulate general in the country that they reside in the country where the NRI resides. The attesting authority should affix a verified with original stamp, name, designation, authority or employee code, signature and date on the said documents. To check the KYC status, create a ticket by mentioning your PAN and date of birth.

Equity F&O trading is not available by default with NRI accounts. F&O trading requires a Custodial Participant (CP) code with Zerodha partner for custodial services, Orbis Financial Services. See Can a Non-resident Indian (NRI) trade in futures and options (FnO)?

In-person Verification (IPV)

As part of the mandatory In-Person Verification(IPV) requirement for all brokers, a webcam or physical verification is required. See What is In-Person Verification (IPV), and why is it required?

Need help? Call on +91-080 4719 2020 or 080 71175337 or create a ticket.

Once all the documents are ready, e-mail the soft copy of all the forms to [email protected]. The forms will be reviewed in case any corrections are required. After the forms are reviewed, 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, Zerodha will open the demat account within 72 working hours, and the IL&FS demat account will be closed in 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.
  • If the IL&FS demat account is linked to the Zerodha trading account, holdings cannot be seen or sold on Console and Kite, respectively. Stocks have first to be transferred to Zerodha's demat account.