Sharekhan offers its 3-in-1 NRI Account services to NRIs, PIOs, and OCIs that comprises of NRI Trading and Demat Account with Sharekhan and NRI Savings Bank Account with Axis, Indusind or HDFC Bank. NRIs can trade in equities and derivatives, invest in IPOs, Mutual Funds, Bonds, NCDs and FDs with Sharekhan 3-in-1 NRI Trading Account. Sharkhan also offers PMS to NRIs.
NRI is required to open 3-in-1 NRI Account with Sharekhan in order to start trading and investing through them. It consist of
Sharekhan has a tie-up with these three banks to provide NRI Savings Bank (SB) Account to be linked with Sharekhan NRI Trading and Demat Account. NRI can open two types of Saving Account.
NRE Account is required if you want to repatriate the funds back to the country you live. NRE Account has to go through the Portfolio Investment Scheme (PIS). NRE PIS Account is needed if you wish to trade-in equity delivery. You can also invest in mutual funds and IPOs through this account. Derivatives trading is not allowed with NRE Account.
NRO Account is equivalent to an Indian Resident Account in terms of investment facility. NRO Account does not require PIS through Bank. This allows for transactions under Non-PIS on a Non-Repatriable basis. Trading in equity derivatives, investment in mutual funds is allowed with the NRO Non-PIS account.
NRIs with NRI trading account can invest or trade in the Indian stock market. It facilitates to trade in stocks, invest in bonds, NCD, ETF etc on NSE and BSE. Further NRI has to choose to open either NRE PIS, NRE NON-PIS or NRO Non-PIS trading account depending on the NRI Savings Bank Account you choose. Sharekhan NRI trading account can be opened along with Axis, Indusind, IDBI or HDFC Bank NRI Savings Account and Sharekhan NRI Demat Account. Trading is allowed in equity Delivery and equity derivatives (futures and options) and currency derivatives. Intraday trading is not allowed to NRIs in India.
Sharekhan offers NRI Demat Account in two forms- NRE Demat Account and NRO Demat Account to be linked with a similar type of Trading and Savings Account. Sharekhan has DP membership with NSDL and CDSL both. Demat Account is required to keep all your holdings of stocks, mutual funds, ETFs, bonds at one place in electronic form.
Repatriable Demat Account is required if an NRI wants to trade in securities in India. As this account allows the investor to transfer funds abroad, it needs to be linked to an NRE Bank account.
If a Non- Resident Indian wants to trade in securities but does not wish to transfer funds abroad he can open a non-repatriable Demat Account. This account has to be linked to an NRO bank account.
Sharekhan offers different types of trading and demat account for trading in different segments. Bank account also needs to be open accordingly keeping in mind the segment which you want to invest and trade in as a NRI.
|Product||Trading Account||Bank Account||Demat Account|
|Equity||NRE PIS||NRE SB & NRE PIS||NRE Demat|
|Mutual Funds||NRE Non PIS||NRE SB||NRE Demat|
|IPO||Through ASBA||Through ASBA||NRE OR NRO Demat|
|Equity||NRO Non-PIS||NRO SB||NRO Demat|
Note: In addition to brokerage, GST and statutory charges would be applicable.
Last updated on 13th Dec 2019
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.
Sharekhan offer two PMS to its NRI clients. These are
It is a diversified Equity PMS strategy for long term investment with an objective to create an equity portfolio through disciplined investments that will lead to a growth in the portfolio’s value with medium to high risk. Investments are made primarily in the Nifty Fifty or the BSE 100 scrips. Minimum Investment of Rs 25 lac is required.
It is PMS strategy to invest in the most undervalued stocks of growing companies on the basis of reported financial performance.