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* All details updated as on Apr 01, 2018
Provider
Brokerage per trade
Annual demat charges
Account opening charge
Mutual funds allowed
Details
Complete Results
Provider
Brokerage per trade
Annual demat charges
Account opening charge
Mutual funds allowed
Details
Zerodha
0 reviews
Rs. 200
Rs. 300
Rs. 300
No
Brokerage:
- Equity: Rs 200 or 0.1% whichever is lower
- Equity F&O: Rs. 100 per order

Eligible banks for Demat accounts:
- Axis Bank
- HDFC Bank
- Yes Bank
Prostocks
0 reviews
Rs. 100
0
0
No
Annual maintenance charges:
- NIL with Rs 1000 refundable one time deposit


Eligible banks for Demat accounts:
- Axis Bank
- HDFC Bank
- Yes Bank
- ICICI Bank
- Indusind Bank
TradePlus Online
0 reviews
0.50%
Rs. 1000
Rs. 2500
Yes
Annual maintenance charges:
- Nil for 10 years with one-off charge of Rs. 2,500


Eligible banks for Demat accounts:
- Axis Bank
- HDFC Bank
- Yes Bank
Sharekhan
0 reviews
0.50%
Rs. 400
Rs. 1000
Yes
Eligible banks for Demat accounts:
- Axis Bank
- HDFC Bank
- Indusind Bank
- IDBI Bank
HDFC Security
0 reviews
0.75%
Rs. 750
Rs. 2,500
Yes
Charges:
- Brokerage: 0.75% or Rs. 25 whichever is higher
- PIS Approval Issuance Fee (One Time): Rs 1,000

NRIs ineligible to apply from:
- USA
Kotak Securities
0 reviews
1.00%
Rs. 900
Rs. 3750
Yes
Charges:
- Brokerage: 0.75% or Rs. 25 whichever is higher
- PIS: Rs. 1000 per year
ICICI Direct
0 reviews
1.25%
Rs. 1200
Rs. 4000
Yes
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Zerodha

Brokerage per trade
Rs. 200
Annual demat charges
Rs. 300
Account opening charge
Rs. 300
Mutual funds allowed
No
Details
Brokerage:
- Equity: Rs 200 or 0.1% whichever is lower
- Equity F&O: Rs. 100 per order

Eligible banks for Demat accounts:
- Axis Bank
- HDFC Bank
- Yes Bank
 

Prostocks

Brokerage per trade
Rs. 100
Annual demat charges
0
Account opening charge
0
Mutual funds allowed
No
Details
Annual maintenance charges:
- NIL with Rs 1000 refundable one time deposit


Eligible banks for Demat accounts:
- Axis Bank
- HDFC Bank
- Yes Bank
- ICICI Bank
- Indusind Bank
 

TradePlus Online

Brokerage per trade
0.50%
Annual demat charges
Rs. 1000
Account opening charge
Rs. 2500
Mutual funds allowed
Yes
Details
Annual maintenance charges:
- Nil for 10 years with one-off charge of Rs. 2,500


Eligible banks for Demat accounts:
- Axis Bank
- HDFC Bank
- Yes Bank
 

Sharekhan

Brokerage per trade
0.50%
Annual demat charges
Rs. 400
Account opening charge
Rs. 1000
Mutual funds allowed
Yes
Details
Eligible banks for Demat accounts:
- Axis Bank
- HDFC Bank
- Indusind Bank
- IDBI Bank
 

HDFC Security

Brokerage per trade
0.75%
Annual demat charges
Rs. 750
Account opening charge
Rs. 2,500
Mutual funds allowed
Yes
Details
Charges:
- Brokerage: 0.75% or Rs. 25 whichever is higher
- PIS Approval Issuance Fee (One Time): Rs 1,000

NRIs ineligible to apply from:
- USA
 

Kotak Securities

Brokerage per trade
1.00%
Annual demat charges
Rs. 900
Account opening charge
Rs. 3750
Mutual funds allowed
Yes
Details
Charges:
- Brokerage: 0.75% or Rs. 25 whichever is higher
- PIS: Rs. 1000 per year
 

ICICI Direct

Brokerage per trade
1.25%
Annual demat charges
Rs. 1200
Account opening charge
Rs. 4000
Mutual funds allowed
Yes
Details
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* All details updated as on Apr 01, 2018
This site is for informational purposes only. Nothing on this site should be construed as advice. When you click on "Go to Site" button, you will be directed to the provider's website where you need to register for the service. We may get paid if you use services from providers listed here. The providers are included based on their rates, service charges, turnaround time and reviews.

NRI Share Trading Accounts FAQs

Can an NRI invest in shares in India via the Indian stock exchange?

Yes, an NRI can buy shares or convertible debenture of Indian companies via the stock exchange. This is possible under “Portfolio Investment Scheme” on repatriation or non-repatriation basis.

What is Portfolio Investment Scheme (PIS or PINS)?

During June 2013, Securities and Exchange Board of India (SEBI) instructed the Portfolio Investment Scheme (PIS or PINS), a foreign investment path to make the registration process, as well as the investment procedure simpler by bringing all groups of foreign investors under a single medium called PIS or PINS.

Can an NRI invest in securities other than Indian shares?

Yes, an NRI can invest in securities other than Indian shares. Examples of other securities include:
- Government securities, except bearer securities
- Government treasury bills
- Domestic mutual funds
- Bonds from public sector companies in India
- Shares in public sector companies

Can an NRI invest in an Indian Exchange Traded Fund (ETF)?

Yes, an NRI can invest in an Indian Exchange Traded Fund (ETF) on repatriation or non-repatriation basis.

How can an NRI start trading in the stock market of India?

There are two ways for an NRI to start trading in the stock market of India:

 

Getting an NRE Savings Account:
A Non-Resident External (NRE) account is a type of account through which you can transfer the money that you earn in a foreign land to India in the rupee denomination. With an NRE account, you can always repatriate the principal amount and the interest earned. But, if you just have an NRE account, you will have to take the route of PIS in order to buy/sell shares or debentures. Remember, with an NRE account, you can trade only in equities. To know more about an NRE Savings account, click here.

 

Getting an NRO Savings Account:
A Non-Resident Ordinary (NRO) account is a type of account that enables you to save your earnings, though you don’t live in India. With this type of account, you will not have to go through the regular PIS formalities. Also, you can be able to trade across the equities, as well as the derivatives with this account. To know more about an NRO Savings account, click here.

What is the list of documents to be submitted by an NRI to open a trading account in India?

The list of documents to be submitted by an NRI to open a trading account is as follows:

 

A. Proof of status of entity:
- Indian passport holder with a valid passport (India as the place of birth), visa (work, student, employment, or residency)
- Foreign passport holder with a valid passport (India as the place of birth), a copy of PIO or OCI card

 

B. PIS permission letter from the designated bank

 

C. PAN card

 

D. Anyone of the following:
- Overseas address
- Driving license
- Utility bills
- Bank statement
- Notarized copy of the rental agreement
- Leave and license agreement
- Sale Deed

 

E. Photographs

 

F. Proof of bank account and/or depository account

How can an NRI pay for shares listed on the Indian stock exchange?

The payments for shares or debentures purchase on repatriation basis can be done by inward remittance via banking channels or using funds that are held in NRE savings account or FCNR(B) account. On the other hand, if the shares are got on non-repatriation basis, NRIs can use funds in their NRO savings account.

Should an NRI pay extra charges for the demat account linked to his/her NRO account?

This will totally depend on your bank. Taking a thorough look at the fine print while applying for a bank account will help you know this. The bank may charge some extra fee for the demat account with shares. You can always find this in the bank account opening application form.

Can an NRI sell transferred shares from his/her PINS account?

No, an NRI can sell only those shares that are bought through PINS through his/her PINS account.

Can a Person of Indian Origin (PIO) and Overseas Citizen of India (OCI) invest in shares in India?

Yes, PIOs and OCIs have equality with NRIs in terms of all the facilities related to economic, financial, as well as educational fields. However, this doesn’t apply to the possession of agricultural and plantation properties.

Are there any client registration formalities for NRI, PIO or OCI clients?

In case of client registration, the documents have to be executed by the clients themselves, which means they can’t be undertaken by Power of Attorney holder. As such, during the in-person verifications, clients may provide KYC documents that are attested by one of the following bodies:
- Notary Public
- Court
- Magistrate
- Judge
- Local banker

Should an NRI provide local Indian address for share trading in India?

During the registration process, an NRI has to provide his/her foreign address along with the documentary proof for the same. In case, if an NRI wishes to keep his/her local Indian address as the correspondence address, he/she has to provide documentary proof for the local address too.

Can an NRI open two different trading accounts based on NRE and NRO savings accounts?

Yes, NRIs can have two different trading accounts based on NRE and NRO savings accounts.

How can an NRI remit sale proceeds from shares in india?

If the shares that are held on repatriation basis are sold by an NRI, the sale proceeds will be credited to his/her NRE, NRO or FCNR(B) accounts. On the other hand, if the shares that are held on non-repatriation basis were sold, the sale proceeds will be credited only to NRO accounts.

Can an NRI execute trades via relatives living in India?

Yes, an NRI can give Power of Attorney to his/her relative in India.

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