April 20, 2024

How to Become a Sub Broker in Nirmal Bang?

Nirmal Bang is what you call a perfect blend of experience, expertise, and ethics. Any business opportunity with the broker is a sure road to success. If you too are keen on taking that road, learn the process of How to Become a Sub Broker in Nirmal Bang here.

There aren’t many names around in the industry who have managed the transition of digitization in the stock market better than the grand old broker Nirmal Bang.

The discount broker has been operating in the stock market since 1986

That’s way earlier than even Demat accounts were in existence. The broker mainly has a presence in the states of Gujarat, Maharashtra, Madhya Pradesh, Rajasthan, etc.

But the broker is keen on growing its physical footprint across the vast expanse of the country.

The broker allows the opportunity to invest in financial products such as equity, currency, IPO, derivatives, mutual funds, and so on.

Likewise, the broker has gained the trust of the trading community for its quality trading services.

The broker counts over 1.15 Lakhs customers subscribed to their demat account services. In all likelihood, that number will surely see a rise in the years to come.

Meanwhile, the broker has over 3000 sub brokers across the country. 

These stats seem to be indicative of the huge potential in becoming a sub broker in Nirmal Bang. so, if you too are looking at the prospect of a business opportunity with the broker, read on.

In this article, we will be looking at all the aspects such as the eligibility criteria, documents, charges involved in the sub broker registration process.

Nirmal Bang Sub Broker Model

The broker likes to keep things simple and therefore offers only one sub broker model. The broker has a tagline that says “You’re More Than Just A Business Associate, You’re An Equal Partner.”

In the same vein, the broker offers handsome commissions to the sub broker. The main objectives of the sub broker or the Authorized Person are to onboard new clients to the broker’s client base. 

Also, the sub broker helps customers make well-refined investment decisions as per their investment goals and investment strategy.

The main concern of a business enthusiast is to learn how much the sub broker earns in a partnership with the broker. All that claims are put to rest with their lucrative commissions.

The sub broker is offered a 50:50 based commission rate for fulfilling the above-mentioned responsibilities.

Here in this Nirmal Bang Franchise model, the individual will be given the facility to invest in all the financial products offered by the broker.

Thus enabling the sub broker to cater to the vast needs of the audience. 

As a sub broker, you would not need to worry about setting up the office and branding yourself in a bid to attract new customers.

Nirmal Bang will provide all the necessary help in branding as well as business applications. 

Before you are given a go-ahead to manage on your own, you will be provided with an Onboarding manager who will train you and your team to improve the process.  

In addition to this, a Relationship Manager will be provided to assist you in devising a business plan. This training will help you better execute your business operations, as well as in acquiring new clients. 

Nirmal Bang Sub Broker Process

To register as a Nirmal Bang sub broker you just need to follow the below-mentioned steps: 

  1. Simply fill in the below-mentioned form. You just have to provide us with your – Name, Contact Number, City to initiate the process.

  2. We will set up your telephonic interview with a Nirmal Bang representative.
  3. You will need to share your business objectives, your background details with the business executive on the telephonic interview. 
  4. Later, the Nirmal Bang representative will fix an appointment with you to take the process further. 
  5. You will be provided with the commission rates of the Nirmal Bang sub broker models. They will share details such as the initial investment amount, charges responsibilities of a sub broker, etc. 
  6. Later you can set up a meeting with the executive at a location and you will need to submit the necessary documents. 
  7. The submitted documents will be sent for verification.
  8. Once the documents get verified, you will be provided with the Nirmal Bang Sub Broker account toolkit. This toolkit will contain your account credentials such as the login ID and password which can be used for setting up your account.

Nirmal Bang Sub Broker Eligibility

Nirmal Bang mentions a clear sub broker eligibility criteria that an individual must fulfill in order to become a sub broker. 

It is advised to have a look at the requirements listed by the broker before proceeding to the sub broker registration process.

Following is the list of eligibility criteria to become a sub broker with the discount broker:

The individual should have at least completed the 10th. However, an MBA or degree in finance will be preferred.

The applicant should at least be 18 years old or older. 

SEBI registration certificate.

An entity (individuals, Companies, or LLPs) with good experience in the financial services domain and/or with a reasonable client base.

The individuals should have experience selling financial products. Professionals such as – Mutual Fund Distributor, Insurance Advisor Financial Planner, Chartered Accountants all can participate under the sub broker model.

Individuals who have good contacts, and/or understanding of the stock market will be given preference.

The individuals should have the mandatory NISM certificate for the segments of their choice.

Nirmal Bang Sub Broker Charges

The Nirmal Bang sub broker charges includes the SEBI registration fees, initial security deposit and then the infrastructure charges. 

The first step is to submit the SEBI registration form. Along with which you will have to pay an amount of ₹2360 + the applicable GST charges.

An individual will need to make an initial security deposit with Nirmal Bang. The sub broker model also involves infrastructure charges.

The sub broker will need to set up an office to carry out business operations and provide services to their clients. 

To become a sub broker in Nirmal Bang, the individuals will have to pay an initial security deposit in the region of ₹1 – 1.5 Lakhs. This amount is refundable in nature and will be returned later upon contract cancellation or termination.

On the other hand, the sub broker will need to set up an office or rent, lease an office space. These costs depend on the location where you want to set up your office. 

But, the infrastructure charges are generally said to be around ₹1 – 1.5 Lakhs as well. So, just to be on the safe side, the individual should expect the minimum initial investment of around ₹3 Lakhs

This is pretty much the same for most of the stockbroking firms in the country.


Documents for Nirmal Bang Sub Broker

The Nirmal Bang sub broker registration process requires the individual to submit a couple of documents.

The broker has enlisted a well-defined list of documents that an individual must possess at the time of registration. 

The documents for Nirmal Bang sub broker are listed below:

🌟 PAN Card 

🌟 Identification Proof – PAN card, Aadhaar Card, Voter ID Card, Passport, Driving License.

🌟 Address Proof – Aadhaar Card, Voter ID, Driving License, Rent Agreement, Passport, Hostel Address, Electricity Bill, Telephone Bill.

🌟 Qualification Proof – 10th Marksheet, Copy of Graduation certificate, NISM certification

🌟 Age Proof – Aadhaar Card, Driving License, Voter ID Card, or other valid certificates where age is mentioned.

🌟 SEBI Registration Certificate

🌟 Passport Size Photographs

🌟 Reference letter from a registered CA


The name Nirmal Bang stands synonymous with experience, expertise, and ethics.

Boasting of an experience of over 34 years in the stockbroking industry, the discount broker is one of the most reliable brokers in the country.

The broker allows investment opportunities in a vast variety of investment products and has over 1.15 lakh customers for their demat account services.

The broker is a top choice for business enthusiasts.

The broker has over 3000 sub brokers reaping countless perks and benefits of its business partnership model.

Likewise, individuals who want to become a sub broker in Nirmal Bang will have to keep an eye on certain aspects.

One of them is that the broker only has one sub broker model, wherein the authorized person works to acquire clients and generates brokerages for the broker.  

The broker will provide all the necessary help in various business operations, right from onboarding new clients to branding. 

The broker shares a 50:50 based commission rate which is low as per the industry standards. However, the commission rate is negotiable in nature and depends on the volume of trade a sub broker manages to bring for the broker.

As for the charges, the individual will have to deposit an initial security deposit of ₹1 – 1.5 Lakhs at the time of registration.

Then there are infrastructure costs which are in the region of ₹1 – 1.5 Lakhs as well.

All in all the prospect of becoming a sub broker in Nirmal Bang is pretty attractive. However, the commission rates will put off some individuals.

Interested in a sub broker partnership with the broker? Let us assist you in taking the process further. 

Simply fill in the details mentioned in the form below :


Leave a Reply

Your email address will not be published. Required fields are marked *