HDFC Securities NRI Account opening, charges and Procedure
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HDFC Securities NRI Account opening, charges and Procedure
HDFC Securities is the most renowned financial service providing company which is a subsidiary of private bank HDFC. It provides the both online trading and the trading on the go i.e. mobile or tab. It facilitates its customers with a unique three in one feature that integrates your HDFC securities trading account with the existing HDFC bank savings account and the existing demat account. This account helps in the smooth movement of funds or shares from the demat or bank account to execute the transactions.
HDFC Securities avails its customers with the Cash-n-Carry on both the NSE and BSE, day trading on both the NSE and BSE, trade on the Futures & Options on the NSE and the online IPO investment.
HDFC Securities NRI Account
HDFC facilitates its customers with the NRI three-in-one account facility. It offers the fluent trading experience to the NRIs. It provides an integrated NRI trading account wherein an NRI Trading, Demat and bank account are linked to each other for the smooth and fast online transactions. This full-service broker does not provide the three in one account or online trading to the NRIs that are located in USA and Canada.
HDFC Securities offers several benefits to NRI such as:
2. Equity F&O.
3. Mutual Funds.
6. Bonds and NCDs.
HDFC Securities offers a broad range of trading and investment services to the NRIs. To make investments through HDFC, an NRI needs to hold an NRI three in one account. This account includes:
1. NRI Bank Account- This account comes in two forms i.e. NRE and NRO account. This account holds money.
2. NRI Demat Account- It is an online account that holds securities in an electronic form. In India, to make investments in the Indian Stock Market one needs to hold a demat account.
3. NRI Trading Account- It provides the access to the BSE and NSE to trade across the stocks, equity derivatives and ETFs.
HDFC Securities NRI Demat Account
HDFC offers the two types of NRI Demat Accounts:
1. NRE (Non-Resident External)- Repatriable Demat Account
2. NRO (Non-Resident Ordinary)- Non-Repatriable Demat Account
Major Features of NRI Demat Account by HDFC
1. The full-service broker charges zero demat account opening charge.
2. There is no risk of loss to the traded securities.
3. It does not charge first year AMC. The other preferential charges are charged from second year.
4. It provides the facility of dematerialization and Rematerialization of the Securities and Redemption of mutual funds.
5. It provides a digital loan facility against the shares or mutual funds.
6. It provides an online investment facility in the stocks, IPOs, Bonds and NCDs.
7. It helps you in checking the holding and transaction details online.
8. It allows the auto-credit of the dividends, stock split and etc. in your linked bank account.
Documents Required to open an NRI Account with HDFC Securities
1. Passport size Photographs.
2. PAN Card details.
3. A valid passport.
4. A valid Visa.
5. A valid OCI Card/PIO Card.
6. An overseas address proofs.
NRI Account Opening Procedure
An NRI can open their NRI account by visiting the nearest HDFC bank branch if the customer is in India. In case the customers is from overseas then they are required to fill the enquiry form available on the HDFC Security website and a HDFC will get you to move through the process.
To open an NRI Account, one needs to follow the steps below:
1. Download and take a print out of NRE/NRO Savings Bank Account, NRE/NRO PIS Bank Account form. It also offers the four-in-one online Investment account.
2. Fill the forms and put on the signatures on the same. If an individual is willing to open a joint account then all the account holders must sign on it. Attach the self-attested documents along with the account opening forms.
3. The HDFC account opening Application forms along with the required documents must be submitted or couriered to the address provided in the form.
HDFC Securities NRI Trading Account Charges
NRI Account Opening Charges
NRI Account AMC
Equity Delivery Brokerage
Equity Future Brokerage
0.025% (on both buy and sell)
Equity Options Brokerage
₹100 per lot
Minimal Brokerage: ₹25, PIS AMC: ₹1000
Points to Be Noted:
1. The NRIs can trade in derivatives (Futures & Options) segment through NRO account only.
2. The customers can open their both NRE and NRO account with the HDFC Bank. Remember that you can only handle any one account i.e. either NRE or NRO account with their HDFC NRI Trading Account.
3. NRIs are not allowed to trade only in the equity Futures & Options.
4. NRIs are not allowed to trade in the segments such as Intraday, Currency and the Commodities.
Advantages of NRI Trading Account
1. It is famous as it is a subsidiary of renowned HDFC Bank.
2. It has a research team that offers trading and investment recommendations.
3. It facilitates its customers with the loan facility against the securities held in the NRI Demat Account.
4. It provides assistance through the Relationship Managers.
5. It offers the placing of AMO and GTC order facility.
Disadvantages of NRI Trading Account
2. It does not provide online trading to the USA and Canada Based NRIs.
Frequently Asked Questions
₹750 is the demat account AMC that is waived off for the first year. The charges will be charged from the next year.
The Pay out of funds or securities is credited within the business day post receipt of the funds or securities from the exchange. As an internal practise, we try and effect the pay out in T+2 days.
• NRE/NRO Regular Savings Account with any branch in India. • NRE/NRO PIS Savings Account with the designated branch. • NRE/NRO PIS Permission through HDFC Bank. • NRE/NRO Demat Account with HDFC Bank. • NRI Trading Account with HSL.
It trades in Index and Stock.
The application is processed at CPU and then it is forwarded to the HDFC Bank for the linking or opening of the bank and depository accounts. Once the savings and DP accounts are opened, the securities trading account is opened and then the details of all the accounts and the TIN, passwords, etc. are sent to you. If the application remains un processed because of any missing details then the customers will be contacted by the representative.
Yes, the NRIs can borrow against share or other securities. However, the loan must be utilized for meeting the requirement of borrower for his own business purposes.
Yes. A POA holder can manage portfolio on the behalf of NRIs. However, he cannot affect remittance outside India. With the Internet trading, life of NRIs has become easy for the portfolio investments.
HDFC Securities is good at offering the qualitative trading and investment services to all of its users.
Yes, you can start trading after opening an account. You just need to have funds in the bank account or stocks with your Depository Participant.
A cut off price is the offer price that is finalised by a company in consultation with the book running lead managers (BRLMs), that could be any price within the price band. It is different from a floor price that is the minimal price at which the bids can be made.
HDFC Bank Demat Account is the easiest, safest and the most convenient way of storing the investments. Now, open the demat account without any charges and then combine a trading account and a savings account to seamlessly bank and invest.
The user Id will be sent to you once the account is opened along with the account details. The password and TIN will be dispatched to you separately by the secured mail.
Yes, an email address is compulsory to open an account with HDFC Security.
In NRE PIS Permission, all the holders should be the NRIs. In case of NRO PIS Permission NRO PIS Account jointly with the resident only on former or survivor basis.
HDFC Pro Terminal is a paid platform. The firm charges an annual fee of ₹1,999 from customers.
The “Limit Price” shall mean that the price limit must be specified by the client to the HDFC Securities up to which the price the stop loss limit order for the cover order can get executed. The “margin” shall mean that the total amount must be made available by the client to HDFC Securities for taking a Cover Order Position under this facility.
The PIS account are always opened as per the holding pattern of the demat account. Thus, if the demat account exists in the combination of A+B+C, then the PIS permission too would be in combination of A+B+C. However, the Bank account can be solely in the name of A.
No, we don’t provide the three in one trading account to USA & Canada based NRIs and PIOs.
You can link up to five HDFC Bank saving bank account and five HDFC Bank demat accounts to your trading account.
Login with HDFC Securities trading website and then click on IPO button on the top navigation bar to see the list of current IPOs/FDs. Click on apply of the IPO that you would like to apply for. On Place order page choose the select investor status (i.e. ASBA Retail), enter the order information and then click on proceed.