Steps to open Zerodha NRI account-
- Open an NRE/NRO Saving Bank Account in India with Axis,Yes or HDFC Bank.
- Get a PIS (Portfolio Investment Scheme) permission letter from RBI. The bank where you opened an NRE/NRO account will take care of this.
- Open trading and demat account with Zerodha linked with your NRE/NRO Account.
Points to be noted-
- Aadhar based account opening is not possible, you need to submit physical forms.
- By mapping your NRE account, you can only trade in the Equity segment. Through an NRO account, you could trade in both Equity & Derivative segment.
- As per the recent changes from RBI, you don't need a PIS letter for NRO-SB account. This is now rebranded as NRO Investment Account. Yet the process is still the same, the broker needs to submit complete trade reports to the bank. The banks still make the settlement of these trades and deduct the TDS.
- It will take 3 to 5 working days to open NRI trading and demat account once Zerodha NRI team receive your complete documents.