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What is the full form of IIFL?
What is IIFL?
IIFL stands for India Infoline Finance Limited. The company has the responsibility to deal with all the finance and advisory activities. The company provides advice related to different types of loans like home loans and gold loans. Many schemes are also provided by IIFL to the people whose earnings are low and whose profits are also very low. It also keeps an eye on the market and gives suggestions for investment.
Founder of IIFL
Nirmal Jain is the founder of IIFL. The company was founded in 1995 and its headquarters is in Mumbai. IIFL showed its presence by providing financial services to its customers. It deals in different financial sectors like equity, commodity broking, asset management, insurance, loans, etc.
History of IIFL
IIFL was launched in 1995 as a Probity Research and Services Private Limited. It launched Probity 200 reports which consisted of research probes. The report was delivered in 1998. It launched its website indiainfoline.com in 1999 and 5paisa.com in 2000. In 2001, it went into a partnership with ICICI Prudential Life Insurance and became the first corporate insurance agent.
The year 2005 was great for the company as it was listed in the NSE and BSE. It got the license for the housing finance sector in 2009 and the gold loan was started in 2010. Another achievement was made in 2011 where it was incorporated into the IIFL Asset Management Corporation. A mobile trading app was launched by the company in 2015.
IIFL Aim
IIFL has many aims and objectives and they are listed below −
IIFL aims to provide the best financial services to its customers
Win the trust of the customers by providing excellent services
A wide range of products and services are available for the customers
Helps in the development of the financial sectors in India
IIFL Services
IIFL provides many services to its customers and some of them are as follows −
Fixed Deposits
Customers can go for fixed deposits as the interest rates are reasonable.
Investment Banking
Different types of investment facilities are provided by IIFL. Some of them include mergers, acquisitions, corporate finance, and many more.
Insurance
Many insurance products are available with IIFL and some of them are health insurance, life insurance, vehicle insurance, and many more.
Loans
Different types of loans are provided by IIFL to its customers. Some of these loans include home loans, business loans, personal loans, and many more.
Mutual Funds
Different types of mutual funds are also provided by IIFL. They include equity funds, hybrid funds, debt funds, and many more.
Wealth Management
IIFL helps in the management of wealth. It helps in providing plans for wealth management. It also provides services like portfolio management, tax planning, and financial planning.
Functions of IIFL
IIFL performs many functions and we will discuss some of them here.
Brokerage
IIFL helps its clients to purchase and sell mutual funds bonds stocks, and other types of securities.
Research and Analysis
IIFL performs research and analysis and shares the results with the clients.
Financing
Different types of financing options are provided by IIFL and they include loans, mortgages, credits, etc.
Advisory Service
IIFL provides services which will be beneficial for tax planning, risk management, investment planning, and many other types of financial planning.
Wealth Management
Another set of services that we will discuss here is wealth management where IIFL provides services like tax planning, financial planning, and many more.
Achievements of IIFL
IIFL has achieved many things since the time it was launched. Some of its achievements are as follows −
Won many awards
IIFL has won a large number of awards and some of them are listed below −
Best Performing Small Bank in 2012
Best Retail Broker in 2012
Financial performance is great
It has been reported that IIFL is performing well in the financial sector.
Many types of products and services
A large number of products and services are available with IIFL which it provides to its customers. Some of these products include wealth management, loans, Insurance, fixed deposits, mutual funds, and many more.
Different types of customers
IIFL deals with different types of customers which include individual commercial, and industrial.
Difference between (closest alternative and IIFL)
Advantages of IIFL
IIFL has many advantages and we will list down some of them here −
A large number of financial products and services are available
Financial performance is very strong according to reports
Large customer support
Answers queries as soon as possible
Disadvantages of IIFL
IIFL has a few disadvantages which can be found in the list below −
Research and analysis of IIFL may not always be accurate
IIFL charges fees for some of its services
IIFL depends on the location of the customer to provide its product and services
IIFL has a few risks in investment
Conclusion
IIFL can be expanded to India Infoline Finance Limited. This is a company that deals in financial aspects for industrial, commercial, and individual customers. The company was launched in 1995 and till now it has achieved any goals. It provides a large number of products which include loans, insurance, equity, and many more.
FAQs
1. What is the full form of IIFL?
TIIFL stands for India Infoline Finance Limited.
2. What products and services does it provide to its customers?
The company provides many products and services like insurance, loans, fixed deposits, investment banking, and many more.
3. Do customers have to pay fees for availing the services of IIFL?
Yes! Customers have to pay for the services and products.
4. What types of insurance are provided by the company?
The different types of insurance that the company provides are life insurance, health insurance, vehicle insurance, and many more
5. What types of loans are provided by IIFL?
The loans that IIFL provides are business loans, home loans, personal loans, etc.
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