Kotak Securities NRI Account Opening, Charges, Services Review
Kotak Securities Track Record Of Best Online Stock Broker In India
Kotak Securities NRI Account Opening, Charges, Services Review
The Kotak Securities Limited was a subsidiary of Mahindra Bank that was founded in the year 1994. They provide various stock broking service and distributes various financial products in India. The company is famous for its out of the box ideas over the past years. In other words, they are well-known and well-respected full-service brokerage firm. The company is listed in BSE and NSE is also a depository participant with NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited).
Kotak Securities is a brokerage firm that offers its services across all the financial trading asset classes. It was initially incorporated in Mumbai, Maharashtra. It serves the traders and investors from all nation. The company has earned over 13 lakh active accounts in the present that are managed by the giant and great network of more than 1200 branches that are spread across 177 cities in India.
It was the first stock broker in India that introduced various mobile stock trading app that will easily keep the record and track all the investments of an individual on the go. The firm also introduced the concept of SMS alerts right before the execution of depository transaction.
NRI Account Opening
Kotak Securities is among the full-service brokers that offers several kinds of services to the NRIs from the globe that includes online trading in Equity, Derivatives (F&O), Mutual Funds, Bonds, ETF and IPO. The company offers account i.e. 3 in 1 account that combines a trading, demat and Kotak NRI Savings Bank Account that provides a smooth trading experience to its customers.
Benefits of NRI Account in Kotak Securities
1. It offers easy and fluent trading experience through three in one account.
2. Kotak Securities has its presence worldwide.
3. It has the best and advanced trading platform and tools that makes it stand out.
4. It allows the NRIs to make investment in IPOs, Mutual Funds, etc. other than trading in stocks and derivatives through this account.
Kotak Trinity Account
It provides various offers that includes a three-in-one account to the NRI investors to trade fluently and smoothly. The three-in-one account includes:
1. NRI Trading Account (NRE or NRO).
2. NRI Demat Account (NRE or NRO).
3. NRI Bank Account (PIS or Non-PIS).
Features of Kotak NRI 3-in-1 Trading Account
1. It provides smooth online delivery trading with an integrated three-in-one account.
2. It provides the in-depth services from the expert team.
3. It provides 80% margin against executed and unbilled delivery market trades.
4. It allows investment across IPOs, Mutual Funds and other fixed instruments.
5. It provides free access to wide range of advanced online trading platforms.
6. It provides an access to portfolio tracker for the quick snapshot of portfolio and investment performance.
7. It has a facility for GTC and AMO orders.
8. It allows trading on the phone facility.
9. It provides access to “Kotak University” as an online learning resource that covers trading, stock markets and various other financial subjects.
Kotak NRI Bank Account
Kotak Mahindra provides four types of bank accounts:
1. NRE Rupee Savings Account (For the transactions on the repatriable basis).
2. NRE Platina Savings Account (For the transactions on the non-repatriable basis).
3. NRO Rupee Savings Account (For the transactions on the repatriable basis).
4. NRO Platina Savings Account (For the transactions on the non-repatriable basis).
Each NRI Bank Account is categorized as Portfolio Investment Scheme (PIS) or Non-PIS account. PIS is a scheme from RBI scheme through which the NRIs can easily trade in the shares, mutual funds, bonds, etc in the Indian Stock Exchange.
1. PIS permission is compulsory for the NRIs trading in Indian Stocks.
2. A Non-PIS bank account can be used to sell IPO shares and stocks bought when the NRI was an India Resident. The Non-PIS rupee account can be used to the fund investments in mutual funds and trading in equity derivatives (F&O) on the non-repatriable basis.
Kotak NRI Demat Account
The Kotak NRI demat provides facility of holding the bought securities in the electronic format. The online demat account are used to hold different types of securities that includes stocks, IPO shares, mutual funds, etc.
It is a depository participant with both NSDL and CDSL. The membership makes it possible for the customers to offer demat account related services to the customers.
NRIs can open two types of Demat Accounts with Kotak:
1. NRE (Non-Resident External) Demat Account- Repatriable.
2. NRO (Non-Resident Ordinary) Demat Account- Non-Repatriable.
Features of Kotak Securities NRI Demat Account
1. It provides free online access to demat account.
2. It allows the quick transfer of securities.
3. It allows investments in stocks, IPOs and Mutual Funds.
4. It has the same charges as of the Indian Resident Customers.
Kotak NRI Trading Account
The Kotak NRI trading account allows the NRI customers to trade in the shares of listed companies and their derivatives at the national stock exchanges i.e. NSE and BSE.
NRI Account Opening Process
The customers can set up a NRI Trading account in two ways:
1. In case the customer already have an NRI bank and NRI demat account with another bank they need to open an NRI trading account with Kotak Securities and link bank and demat account with the trading account. This process can only be done simply in the offline mode.
2. In case the customer does not have an NRI bank and demat account then he can open a Kotak Trinity Account.
To open an NRI Account follow the steps mentioned below:
1. Fill in the enquiry form available on the website.
2. Now call on the toll-free number to make a request for account opening.
3. Visit the Kotak Securities Branch Office.
NRI Account Opening Charges
NRI Account Opening Charge(One-time Fee)
NRI Account AMC
Documents Necessary to Open A Kotak Trinity Account
1. Cheque leaf with the name printed on it.
2. A copy of the passport.
3. A copy of Visa.
4. PIS Permission
5. Form 60.
6. Latest Electricity bill.
7. Bank passbook or statement.
8. Leave and license agreement.
9. Banker’s verification
10. Driving license.
Kotak Securities NRI Mutual Fund
The Kotak securities customers can enjoy the facility of investing in mutual fund services to the NRIs. They can simply use 3-in-1 trading account to make investment in mutual funds.
Features of Kotak NRI Mutual Fund
1. The customers can purchase, redeem and switch the funds online.
2. It helps in monitoring the mutual funds online and receive monthly updates.
3. The Mutual fund account and bank account are linked for quick fund transfer.
4. It charges zero transaction charge.
5. The customer can receive SMS alerts on the transactions.
6. The mutual fund units are simply credited to their demat account.
7. It has the facility to place orders through call and trade.
Frequently Asked Questions
Yes, Kotak Securities offer online IPO applications to its customers. IPO offers an early opportunity to buy shares of companies that are not previously traded publicly.
Each scheme has a minimum transaction amount. The amount differs from scheme to scheme. The minimum amount is mentioned for each scheme in the scheme information document.
Kotak Securities charge 0.049% (on both side) for equity, currency and commodity futures trading.
Yes, modifications can be done on the online portal and the final amount payable will be blocked by the bank subsequently.
Kotak Securities is a Full-Service Broker and thus the brokerage charged by them is higher than the discount brokers.
Yes, Kotak securities allows to place three orders at different rates.
Kotak Securities charge 0.49% for equity delivery trade. These trades are known as cash and carry trades or CNC.
The customer can apply in an IPO at any time between the IPO open and close date. The online IPO application can be filled and submitted at any time of the day.
A customer can apply up to five application allowed to the Kotak Mahindra Bank Account.
The amount blocked in your bank account supporting the ASBA application cannot be withdrawn till the time of allotment.
There is no charge for opening the demat account with Kotak Securities broker. In fact, there is no amount charged for opening any of the three accounts i.e. Demat, Trading and Bank account.
As per the new process if an individual sells their holdings then they must be sold in the following sequence. First stock you hold as BNST will be sold. Second stocks you hold in the demat account and third stocks you own under Margin finance will be sold.
No, Kotak securities website allows IPO application only to the Trinity account holders.
Yes, the customers can check the Kotak Mutual Fund status online. To check the status of your Mutual Fund investments are: 1. Login to Kotak Securities Account. 2. Click on reports. 3. Visit the mutual fund section. 4. Select Check order status.
Kotak Securities is a Limited firm and is a member of BSE, NSE, MSE, MCX, NCDEX. It is also registered as a depository participant with NSDL and CDSL.
Realized profit is the profit that comes from a completed trade. It means that the trade that has been exited. The realized profit is usually already deposited into the trader’s trading account and can simply be withdrawn from their trading account to bank account.
It charges 0.049% for Intra-day trades. These orders are known as Margin Intraday square-up or the MIS orders. All the open Intraday orders are auto squared-off at the end of each day. Extra leverage can be offered for these trades.
A ledger balance is computed by the bank at the end of each business day. It includes all the withdrawals and deposits to calculate the total amount of money in a bank account. The ledger balance is the opening balance in the bank account next morning and remains all day.
The Kotak Securities mobile application supports iOS, Android, Blackberry, Windows Java Operating Systems.
No, Kotak securities does not provide margin funding.