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How to switch from an NRI IL&FS demat account to Zerodha demat account?

To switch from an NRI IL&FS demat account to Zerodha demat account, send the following forms:

  1. IL&FS closure letter ( PDF ) , and the Zerodha demat application form ( PDF ).
  2. FEMA declaration form ( PDF ) and FATCA declaration form ( PDF ).
  3. A copy of the NRE or NRO bank account. Any one of the following is accepted as bank account proof: Cancelled cheque, bank statement containing the IFSC, MICR and branch details.
  4. Copy of PIS permission letter.

Courier all the forms 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 and 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.
  • 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 to first be transferred to Zerodha demat account.