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:
- IL&FS closure letter ( PDF ), and the Zerodha demat application form ( PDF ).
- FEMA declaration form ( PDF ) and FATCA declaration form ( PDF ).
- 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.
- Copy of PIS permission letter.
Courier all the forms to the following address:
Zerodha Broking Ltd.,
#153/154, 4th Cross, JP Nagar 4th Phase,
Bengaluru 560 078 – India
Tel: +91-8047192020
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.
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