BWI: IIFL Announces Launch of its ‘LifeTime Prepaid, AnyTime Money Back’ Brokerage Product

Press release from Business Wire India
Source: IIFL (India Infoline Ltd)
Friday, March 25, 2011 04:21 PM IST (10:51 AM GMT)
Editors: General: Consumer interest, Economy, People; Business: Accounting & management consultancy services, Advertising, PR & marketing, Banking & financial services, Business services, Information technology, Media & entertainment, Retailers, Stock exchanges; Technology
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IIFL Announces Launch of its 'LifeTime Prepaid, AnyTime Money Back' Brokerage Product


Mumbai, Maharashtra, India, Friday, March 25, 2011 -- (Business Wire India) -- The IIFL Group today announced the launch of its 'LifeTime Prepaid, AnyTime Money back' brokerage product. The product offers complete flexibility to customer with prepaid brokerage beginning from Rs10,000. With the prepaid brokerage, the customer can enjoy reduced brokerage across Equity ‐ cash as well as derivatives, Commodities and Currency markets. In an industry first, actual brokerage will be adjusted against the pre‐paid brokerage on a daily basis. While the customer can enjoy the benefits of substantially lowered brokerage against the pre‐paid scheme for lifetime, he can withdraw the pre‐paid amount anytime he chooses. The reduced brokerage rates also include depository charges. This way, the customer is not tied‐in to the scheme for a long duration. When the customer chooses to withdraw, he will be refunded the unutilized pre‐paid brokerage after adjusting for the normal brokerage charges.

Besides upfront reduced brokerage across asset classes, customers will enjoy free access to the 'Trader Terminal', which is IIFL's acclaimed proprietary trading platform which offers the facility to trade across Equities, Commodities, Currency and also Mutual Funds. Besides, customers will also have a dedicated Financial Advisor across asset classes for unparalleled service.

"The launch of our 'LifeTime Prepaid, AnyTime Money back' product is a testimony to our customer‐centric approach. While customers will enjoy commitment from us for reduced brokerage charges for as long as they choose, we will refund the unutilized brokerage anytime the customer so chooses", said Mr Nandip Vaidya, President - Retail Broking, IIFL Group.

Speaking at the occasion, Mr Prasanth Prabhakaran, President - Retail Equity sales, IIFL Group, said "While competition offers similar products with no refund during the long lock‐in period, we endeavor to lock in the customer with quality of our service, research and superior technology. We believe that the customer, if for any reason is not satisfied and wants to discontinue, then he should not be penalized unreasonably in terms of product or pricing. Our business strategy and products are always designed with philosophy that the customer always comes first."

About India Infoline (IIFL) group:

The India Infoline (IIFL) group, comprising the holding company, India Infoline Ltd (NSE: INDIAINFO, BSE: 532636, Bloomberg: IIFL) and its subsidiaries, is one of the leading players in the Indian financial services space. IIFL offers advice and execution platform for the entire range of financial services covering products ranging from Equities and derivatives, Commodities, Wealth management, Asset management, Insurance, Fixed deposits, Loans, Investment Banking, GoI bonds and other small savings instruments. It owns and manages the website, www.indiainfoline.com, which is one of India's leading online destinations for personal finance, stock markets, economy and business.

IIFL has been awarded the 'Best Broker, India' by FinanceAsia and the 'Most improved brokerage, India' in the AsiaMoney polls. IIFL was also adjudged as ''Fastest Growing Equity Broking House ‐ Large firms' by Dun & Bradstreet. A forerunner in the field of equity research, IIFL's research is acknowledged by none other than Forbes as 'Best of the Web' and '.a must read for investors in Asia'. IIFL's research is available not just over the Internet but also on international wire services like Bloomberg, Thomson First Call and Internet Securities where it is amongst one of the most read Indian brokers.

A network of over 3,000 business locations spread over more than 500 cities and towns across India facilitates the smooth acquisition and servicing of a large customer base. All our offices are connected with the corporate office in Mumbai with cutting edge networking technology. The group caters to a customer base of about a million customers, over a variety of mediums viz. online, over the phone and at our branches.

IIFL refers to India Infoline Ltd and its group companies.


CONTACT DETAILS
Ms. Nikita Amlekar,Corporate Communications, IIFL (India Infoline Ltd) , +91 9004663042, nikita.amlekar@indiainfoline.com
Mr. Pranav Thakkar, Sampark PR, +91 (22) 40425565 / +91 9833924775, pranav.thakkar@sampark.com

KEYWORDS
CONSUMER, ECONOMY, PEOPLE, CONSULTANCY SERVICES, MARKETING, BANKING, BUSINESS SERVICES, IT, MEDIA, RETAIL, STOCK EXCHANGES, TECHNOLOGY

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