India Infoline (IIL) today has launched a unique lifetime prepaid account for its broking and depository customers.According to a release issued by IIL to the BSE, the company's subsidairy portal 5paisa.com announced the lauch of 'Lifetime prepaid' account, which it said is a unique and first time ever in India.As per the scheme, a customer who registers under this scheme, has to pay a one time charge of Rs 555 and does not have to ever pay any fixed or recurring charges for his / her broking and depository services. However the customer will have to keep minimum margin of Rs 5000 in the account, against which the customer will get trading limits. Post-registration, the customer will only pay brokerage and depository transaction charges as per actual usage, the release adds.The release added, the company has also waived off all future annual maintenance charges for its existing depository customers.Further, above scheme is for retail investors. IIL has a separate scheme for high volume 'traders' where the registration fee is Rs 8000 per annum, but is fully refunded through brokerage.Nirmal Jain, CMD of the company said, "India is still in the nascent stage of growth of equity cult. It is a pity that less than 1.5% of household savings get invested in equities. The wealth created by Indian enterprise and labor is increasingly owned by foreigners. We are making this humble effort to ease small Indian investors entry into stock markets."
