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NRI Demat Account

The Indian equity market is in an expansion mode, attracting investors from across the globe to benefit from the growing economy. It is interesting to note that the foreign investors are now becoming more keen on investing in the Indian equity market than ever before.Read More

As a non-resident Indian (NRI), managing your investments and assets back in India is important for your financial growth. An IDFC FIRST Bank NRE PIS account linked with NRE Demat and trading account is a seamless platform for you to invest and trade in India without any hassles.

A Demat account as it is commonly known is a short form of “Dematerialised account”, serves as a digital repository for your securities instead of their physical forms, allowing you to hold and trade various financial instruments electronically with linked trading account. With an integrated Demat account for NRI by IDFC FIRST Bank, you can conveniently invest in various Indian stocks, securities, debts, and money market instruments effortlessly and grow your wealth.Read Less

Types of NRI Demat Accounts

IDFC FIRST Bank offers a range of NRI Demat accounts to suit your unique financial needs and investment strategies. You can choose a suitable Demat account for NRIs based on your preferences, objectives, and sources of income. Here are the types of accounts.

Repatriable Demat account

This is an ideal demat account if you want to hold and manage your foreign earnings in Indian currency invested in securities. It is fully repatriable, meaning you can freely transfer the funds back to your foreign account along with the dividend post paying applicable tax once you sell the securities. To use this type of account, you first need to link your NRE PIS and NRE savings account with the NRE Demat account and open a trading account with SEBI registered broker.

NRIs can also invest in stocks and bonds through the Portfolio Investment Scheme (PIS) introduced by the Reserve Bank of India which enables them to invest in Indian stocks on a repatriable basis. IDFC FIRST Bank offers PIS accounts with numerous benefits such as instant PIS permissions (the first in the country with a paperless process), no minimum balance requirements and high-interest rates with monthly interest pay-outs.

Non-repatriable Demat account

If you have income sources in India like rent, dividends, or pensions, the NRO Demat account is a suitable option to invest that money in securities. It allows you to manage both your Indian earnings and overseas income in one place. You can link your NRO savings account with the Demat account to start investing in India.

Repatriable Demat account

Repatriable Demat account

This is an ideal demat account if you want to hold and manage your foreign earnings in Indian currency invested in securities. It is fully repatriable, meaning you can freely transfer the funds back to your foreign account along with the dividend post paying applicable tax once you sell the securities. To use this type of account, you first need to link your NRE PIS and NRE savings account with the NRE Demat account and open a trading account with SEBI registered broker.

NRIs can also invest in stocks and bonds through the Portfolio Investment Scheme (PIS) introduced by the Reserve Bank of India which enables them to invest in Indian stocks on a repatriable basis. IDFC FIRST Bank offers PIS accounts with numerous benefits such as instant PIS permissions (the first in the country with a paperless process), no minimum balance requirements and high-interest rates with monthly interest pay-outs.

Non-repatriable Demat account

Non-repatriable Demat account

If you have income sources in India like rent, dividends, or pensions, the NRO Demat account is a suitable option to invest that money in securities. It allows you to manage both your Indian earnings and overseas income in one place. You can link your NRO savings account with the Demat account to start investing in India.

    

How to Open NRI Demat and Trading Account?

Opening an NRI Demat and Trading account with IDFC FIRST Bank is straightforward and can be done through an offline process for your convenience. Here's how:

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Step 1 - Fill out the application form:

Fill out the application form with requisite details, including personal information, type of NRI Demat account, and other details as asked in the form.

Step 2 - Provide KYC documents:

Attach the copies of your KYC documents, which include your passport, visa, PAN card, overseas address proof, and recent passport-sized photographs.

Step 3 – Account opening

Our banking representative will subsequently contact you to further assist with the account opening process.

Documents Required to Open NRI Demat and Trading Account

Documentation

To initiate your IDFC FIRST Bank NRI Demat and trading account application, you will need the following documents:

  • Identity proof: Passport
  • Non Resident Status Proof (any one of the following): Visa / PIO card/ Foreign Passport with PIO declaration/ Continuous Discharge Certificate with Valid contract letter for seafarers / Resident Permit/ Resident Card.
  • Overseas Address Proof (Any one of the following documents having your overseas address): Passport, driver's license, National ID/government-issued ID, Latest utility bill (mobile/gas/electricity/telephone), Latest savings bank statement from a transactional account, Council tax bill, Resident Permit, voter ID/voter’s card.
  • Tax related: PAN / Form 60, FATCA-related fields on the application form.
  • Other documents: Recent colour photograph, an image of your signature (only for online applications).
  • Document certification: If not being met by an IDFC FIRST Bank employee, please ensure your passport, visa and address proof copies are certified by any one of the following entities from your overseas country of residence: Overseas bank, Overseas Branch of Indian Bank, Notary, Post Office, Court Magistrate, Judge, Indian Embassy, Exchange Houses.

Eligibility Criteria

    

NRI Demat and Trading Account Opening Charges

Account opening fees

Account opening fees

This is a one-time fee for setting up your NRI Demat and trading account. With IDFC FIRST Bank there are no charges for opening of bank and demat account.

Annual maintenance charges (AMC)

Annual maintenance charges (AMC)

An annual fee for maintaining your demat account, which ensures seamless access to your investments.

Brokerage charges

Brokerage charges

These are fees incurred for buying and selling securities through your trading account maintained with SEBI registered broker.

Transaction charges

Transaction charges

These charges are applied per transaction, covering the cost of executing your trades through your NRE PIS bank account and deduction of applicable capital gain taxes.

FREQUENTLY ASKED QUESTIONS

Can NRI have a Demat account?

Yes, NRIs (Non-Resident Indians) can have a Demat account and invest in Indian stocks. In fact, having a Demat account is highly beneficial for NRIs to manage their investments and securities in India electronically, eliminating the need for physical certificates.

What are the requirements for a Demat account for NRI?

To open a Demat account as an NRI, you will need documents like a passport, visa copy, PAN card, overseas address proof, passport-sized photographs, and foreign bank account statements. The specific requirements might vary slightly based on the type of NRI Demat account you choose.

What are the benefits of an NRI Demat account?

An NRI account allows non-resident Indians to invest in various financial instruments like equities, mutual funds, government securities, and more. It facilitates easy buying, selling, and holding of securities while providing a secure and efficient way to manage investments from abroad.

How can I open an NRI Demat account online?

Opening an NRI Demat account online is a simple process. Choose a registered Depository Participant (DP), like IDFC FIRST Bank, fill out the application form with accurate details, provide the requisite KYC documents.

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