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Brokerage firm India Infoline (IIFL) on Friday said it has launched a prepaid product, starting from Rs 10,000, which allows advance payment of charges at reduced rates.
The brokerage product called ‘LifeTime Prepaid, AnyTime Money back’ offers complete flexibility to customer with prepaid brokerage beginning from Rs 10,000. With the prepaid brokerage, the customer can enjoy reduced brokerage across equity — cash as well as derivatives, commodities and currency markets,” IIFL said in a statement.
The company claimed that it is the first such product in the industry, in which the actual brokerage will be adjusted against the pre-paid brokerage on a daily basis.
“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 penalised unreasonably in terms of product or pricing,” IIFL resident — Retail Equity Sales Mr Prasanth Prabhakaran said.
With the IIFL’s new product, the customers will enjoy free access to the company’s acclaimed proprietary trading platform’Trader Terminal’, which offers the facility to trade across equities, commodities, currency and also mutual funds, the statement said.
Besides, the customers will have a dedicated financial adviser across asset classes, it added.
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