Karvy Demat Account queries answered here!

Read this to get answers to all your queries regarding your Karvy Demat account.

May 05, 2021 04:05 IST India Infoline News Service

1. Why my Demat Account freezed by DP without my consent? What will happen to my Karvy account?

Given that your DP account was with Karvy, we have now been nominated as your new depository participant by NSDL & CDSL. Your Demat account details including securities balances will remain the same, only the DP name will be changed to IIFL from Karvy. The demat accounts are transferred to IIFL in freezed mode, hence for activation (unfreezing) of the said accounts to enable the client to operate his/her demat account, client will have to submit an Application for Account Activation.

Click here for Annexure
Click here for Tariff

Apart from the above process, where the demat account is also freezed by any other authority, an appropriate letter / order from the authority is also required to be submitted to unfreeze the demat account.

Further client will have to submit acceptance of tariff either offline to any branch office of IIFL or directly to our Central processing Address: Plot No.B-23, Sun Infotech Park, Road No. 16V, Wagle Estate, Industrial Area, Thane, Maharashtra 400604

For activation of Demat Account and Opening Trading account with IIFL, you can visit https://wecarekarvy.indiainfoline.com and follow the steps accordingly to get the account activated or visit our nearest branch. Your Trading account will get activated and demat account will be mapped to this trading account.

Click here to locate for Branch

2. How will I get holdings in my Karvy demat Account?

To get the holding statement, please write to us at wecare@iifl.com and the copy of the same shall be sent to your registered email id available in our records

3. How to get my stocks lying in Karvy pool account?

You need to approach previous DP (Karvy) or Regulators for the same.

4. My Karvy Demat Account is moved to IIFL how and when can I start trading?

You would be required to activate your trading account in a very simple process. To get your account activated, you can visit our nearest branch or visit https://wecarekarvy.indiainfoline.com and follow the steps accordingly to get the account activated.

You will have to provide the limited purpose Power of Attorney (POA) in favour of IIFL Securities Ltd. You can directly courier the POA at the below address or else you can submit the same at our nearest branch. Once the POA is received by our activation team, your DP account will get unfreezed and you will be able to view your holdings and start trading.

Address: Plot No.B-23, Sun Infotech Park, Road No. 16V, Wagle Estate, Industrial Area, Thane, Maharashtra 400604

Click here to locate for Branch

5. I am a Karvy client what would be charges for opening account with IIFL?

We have very competitive charges and created a special scheme for Karvy customers under which Karvy customers can open their account at ZERO Account opening fees and FREE First year AMC. Also, if you will activate your account before 30th May 2021 then you can get the benefit of Unlimited traders for the first 30 days. Not only this, our segment wise brokerage & others charges are almost 50% lower than Karvy Standard Charges. Start your account activation journey to view detailed tariff plan : https://wecarekarvy.indiainfoline.com

6. How can a Karvy client view details?

Once you activate the trading account with us, you can download our mobile App “IIFL Markets” from Playstore or login to our online trading portal https://ttweb.indiainfoline.com to check your details.

Click here to view link for Mobile App

7. How can a Karvy client sell existing DP holding & transaction statement?

Once a trading account is opened you can sell the stocks, however fulfilling paying obligations to Exchange will be convenient if the POA is mapped to your account. Further, we are awaiting EDIS approval from NSDL/ CDSL.

8. Where can Karvy clients contact for further details or assistance or support?

Given that your DP account was with Karvy, we have now been nominated as your new depository participant by NSDL & CDSL and will provide you with best of services. We have a special service desk for you to take care of your queries without the need for you to approach NSDL/CDSL. You can call us at 022-40075000 or write to us at wecare@iifl.com. You can also visit your nearest branch. You can find your nearest branch using this link https://www.iifl.com/locate-us
 
9. What is the process to transfer shares of Karvy outside IIFL, if I do not want to trade with IIFL?

In case of any balance in the account – The client will have to submit proper KYC documents to IIFL for activating the account (if not KYC compliant) and then submit documents for closure of account.

Click here for Annexure
Click here for Tariff Sheet
Click here for Closure letter

In case of NIL holdings demat account - If client do not wish to continue their demat account with IIFL Securities, then they can close their demat account by either sending hard copy of account closure request letter or by sending an email from their registered Email ID to wecare@iifl.com to IIFL Securities

10. What are the products offered by IIFL Securities?

Refer the link https://www.indiainfoline.com/demat/why-iifl

11. I am a Karvy client; how to transfer shares offline?

Once your account is activated with IIFL , Single account holders can request for DIS slip from ttweb.indiainfoline.com Post that you need to fill the DIS Slip and opt for transfer of shares offmarket. In case of non-individual & joint holders, you can approach the nearest branch.

Click here for the Requisition slip format
Click here to locate branch
Click to activate your account with IIFL Securities

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