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Open an Instant and Online account with Sharekhan in 15 mins.Can NRI trade with Sharekhan. Yes, Sharekhan offers NRI trading services. To offer NRI 3-in-1 account, the broker has partnered with HDFC, IndusInd, IDBI, and Axis Bank. As an NRI, you can open an integrated 3-in-1 NRI account that combines your NRI Demat, NRI Trading, and NRI Bank account.
At Sharekhan, NRIs can invest in equities on BSE and NSE, IPO, mutual funds, and trade in equity derivatives. Here is the complete guide on how to open NRI account in Sharekhan, NRI account opening fee, NRI trading brokerage, and more.
Here are the 10 most important reasons on why should NRIs trade with Sharekhan.
A 3-in-1 Sharekhan NRI account combines 3 different accounts including NRI Trading Account, NRI Demat Account, and NRI Bank Account (NRE or NRO).
NRIs can open either an NRE or NRO bank account in India. NRE (Non-Resident External) is a repatriable account and used to deposit foreign earnings whereas NRO account is a non-repatriable account where NRI can deposit the money earned in India.
NRI trading account in Sharekhan allows non-residents to trade in stocks, equity F&O, and ETFs on NSE and BSE.
For NRIs who want to use an NRE bank account to buy and sell shares of Indian companies, it is must to get PIS permission. PIS is a mechanism developed by RBI for NRI investment in India.
Know more on NRE PIS Trading Account
However, PIS permission is not mandatory on NRI transactions through an NRO account. Know more on NRO Non-PIS Account
NRI Demat account is mandatory as it keeps all shares, mutual funds, IPOs, etc. in digital format.
Demat account mapped with NRE bank account is called repatriable demat account and account linked with NRO account is non-repatriable demat account.
| NRI Trading Segment | NRE PIS or Non-PIS Account | NRO PIS or Non-PIS Account |
|---|---|---|
| Equity Delivery | NRE PIS Account | NRO PIS or NRO Non-PIS Account |
| Equity Intraday | Not Allowed | Not Allowed |
| Equity Futures & options | Not Allowed | NRO Non-PIS Account |
| Commodity futures & options | Not Allowed | Not Allowed |
| Currency futures & options | Not Allowed | Not Allowed |
| IPO | NRE Non-PIS Account | NRO Non-PIS Account |
| Mutual Fund | NRE Non-PIS Account | NRO Non-PIS Account |
NRIs can sign up for Sharekhan online trading account and the executive will get back to you and guide you for the NRI account opening.
Steps to open Sharekhan NRI trading and demat account
Check here the Sharekhan NRI Demat and Trading Account opening charges and AMC
| Particulars | Charges |
|---|---|
| Sharekhan NRI Account opening charges | Rs 2,000 |
| Sharekhan NRI Account opening fee (Axis, IndusInd, and HDFC bank) | Rs 1,000 |
| Sharekhan NRI Account AMC (HDFC Bank) | Rs 3,000 |
| Sharekhan NRI Account AMC (Axis/IndusInd/IDBI Bank) | Rs 2,000 |
| Sharekhan PIS Annual Maintenance Charges | Rs 1,000 |
For opening NRI account in sharekhan, you need to submit NRI account opening form with due documents. Here is a list of required NRI documents;
All the above documents must be duly attested.
Brokerage is the fee or commission charged by Sharekhan to provide trading services to NRIs. Sharekhan full-service broker charges a fixed percentage on total trading turnover.
Here are the brokerage charges details on NRI trading in different segments;
| Particulars | Brokerage charges |
|---|---|
| NRI Equity delivery brokerage | 0.50% |
| NRI Equity Future brokerage | 0.1% on the first leg and 0.02% on the second leg (If squared off on the same day) or 0.1% if square off on any other day. |
| NRI Equity Options Brokerage | Rs. 250 per contract note |
Sharekhan does not provide flat brokerage NRI trading services.
If you have a NRI trading account with HDFC PIS Bank, all transactions in the equity cash segment will be follow below process;
NRIs with PIS account in Axis, IndusInd, or IDBI Bank have to allocate funds to their PIS account. And the bank will share PIS balance with Sharekhan to update the trading limit. Once it gets updated, you can start investment in shares listed on NSE and BSE.
| Sharekhan NRI customer service desk phone | +91 022 6518500/+91 22 6115 1122 |
| Sharekhan NRI customer care E-mail ID | [email protected] |
If you are nearby to any of the Sharekhan branches, then you can also visit the branch office, let the team know your query and the customer service team will resolve your query.
Sharekhan account opening process is not fully online. They offer following ways to open NRI Account with them
Sharekhan offers account opening at their branch offices in India. If you are in India, you can visit the nearest branch and fill the forms. Provide two set of self attested documents- one for Sharekhan and one for Bank.
For sending forms from overseas, all the documents should be attested by Indian Embassy/ consulate general/overseas banker/Notary.
To open an NRI Account with Sharekhna, Two sets of following documents (one for Sharekhan and one for Bank) are needed:
NRIs have to go through ASBA process by Banks to block the IPO application amount through Internet Banking. Sharekhan demat account number is to be fill in the form for allotment of shares. Investment in IPOs is possible only through NRE NON-PIS and NRO NON-PIS Account.
There are a lot of reasons that made Sharekhan one of the most preferred brokers for NRI trading services, that are pointed below:
Yes, if you are a Sharekhan NRI client and have opened an NRI trading account then you can invest in mutual funds. However, the key considerable point is that the broker only offers regular mutual fund schemes means you can only invest in regular MF and can't invest in direct plans. NRIs can invest in mutual funds online through the Sharekhan mobile app or Sharekhan website or Insta MF app.
NRIs can open the Sharekhan 3-in-1 NRI account (trading + demat + bank account) to start online NRI trading with Sharekhan. Here is the process;
As per RBI norms, it is necessary to report every NRI transaction to the bank, thus, lastly, whatever orders an NRI client has placed through Sharekhan will be automatically reported to the Bank.
After Market order (AMO) is the trading order placed after market closure. Sharekhan allows both the residents as well as NRI customers to place AMO through their Sharekhan trading account. Notably, a market order is the only option for AMO means one can't place a limit order in AMO.
Last Updated on 2024-03-04
