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Prabhudas Lilladher NRI Account Opening, Charges, Services Review

Prabhudas Lilladher Track Record Of Best Online Stock Broker In India

  • Life

    3.4

    Company Rating

  • Life

    9+

    Cities Covered

  • Life

    40K+

    Orders Per Day

  • Life

    15K Crore

    Daily Turnover

  • Life

    49000+

    Our Client Base

  • Life

    4

    Mobile App Rating

  • Life

    3.4

    Company Rating

  • Life

    9+

    Cities Covered

  • Life

    40K+

    Orders Per Day

  • Life

    15K Crore

    Daily Turnover

  • Life

    49000+

    Our Client Base

  • Life

    4

    Mobile App Rating

 
 
 

Prabhudas Lilladher Account Opening Enquiry


 
 
 
 

Prabhudas Lilladher NRI Account Opening, Charges, Services Review

Before India got independence i.e. in 1944, a great personality named as Mr. Prabhudas Lilladher Sheth started a financial service provider company known as Prabhudas Lilladher (PL) in Mumbai which is now one of the best stockbrokers of India. PL got BSE membership in the mid of 1980-90s and later on registered with NSE and MCX. It is a full-service broker which offers you to invest in equity, derivative, mutual fund, commodity, currency, US stocks and IPO. PL charges different brokerage for various different segments and charges Rs.0 for demat and trading account opening as well as offers free trading software and tools which are accessible in desktop and mobile both. PL is the member of the both depositary participant CDSL and NSDL.
Prabhudas Lilladher has partnership with Vested (US Securities and Exchange Commission) which gives you an opportunity to invest in US stocks. Now, any NRI can invest in Indian share market through this platform. NRI traders only need a demat/trading account with Prabhudas Lilladher to start trading in Indian share market. Any NRI with relevant document can open demat/trading account with Prabhudas Lilladher.

What is an NRI Demat/Trading Account?

Non-Resident Indian (NRI) is any person who is a citizen of India but resident outside India. To invest in the share market, NRI needs a demat/trading account with any broker. Any NRI can open a demat/trading account with Prabhudas Lilladher by linking his/her Non-Resident Ordinary (NRO) or Non-Resident External (NRE) savings bank account. NRI can trade/invest in equity, IPO, mutual funds, ETFs and derivative segment but not allowed to trade in currency and commodity segment.
Portfolio Investment Scheme (PIS) is an RBI scheme under which NRI can buy or sell shares of Indian companies on stock exchanges. NRI investors need to obtain a Portfolio Investment Scheme (PIS) permission letter from the Reserve Bank of India (RBI) to open a demat/trading account in India. NRI can also open Non-PIS account by linking NRO savings bank account with demat/trading account. Before this, NRI investors need to open an NRE and NRO account with the bank and that bank will help you to obtain PIS permission letter from the Reserve Bank of India (RBI) after some documentation.
Either NRE or NRO, only one bank account can map to your demat/trading account. If you want to trade only in equity segment then you need to map with NRE account and if you want to trade in equity or derivative segment then you need to map with NRO account.

Documents required to open an Demat Account at Prabhudas Lilladher for NRIs:

• Copy of Passport/ PIO card/ OCI card.
• Overseas Address Proof- Driving license/Utility bills/Bank statement (not more than 2 months)/Rent agreement.
• Bank account Proof, declaration duly signed that BO has compiled with and continue to comply with FEMA regulations and other laws.
• For Merchant Navy NRIs, Declaration of Mariner or certified copy of CDC (Continuous Discharge Certificate) is mandatory to attach.
• Mandatory to submit the Declaration of overseas P.O. Box no. address as correspondence/permanent.
• Passport size photograph.
• Local Indian address (If any).
• Copy of PIS permission letter otherwise you can open Non-PIS account by linking NRO savings bank account.

Note: NRIs needs to submit the scanned copy of the documents which should be self-attested and notarized by one of the authorized officials which are Indian embassy/Consulate General in the country where the person resides, Court Magistrate, Judge, Notary Public, authorised officials of overseas branch of scheduled commercial bank of India.


Prabhudas Lilladher NRI Demat Account Charges

Entity

Charges

Account Opening Fee

One-time fee

Annual Maintenance Fee (AMC)

Annually charged for maintaining the account

Transaction Charges

Fee charges when you sell shares

Other Charges

It includes pledge fees, modification charges

 

NRI Portfolio Investment Scheme (PIS) charges 

NRIs can trade on repatriation and non-repatriation basis. NRIs need to open a PIS enabled NRE account for investment on repatriation basis whereas NRIs need a PIS enabled NRO bank account or NRO account (without PIS) for investment for investment on non-repatriation basis.

 

Entity

Charges

PIS issuance charges

Between Rs.0 to Rs.500

PIS Account AMC

Annual fees paid to the bank irrespective of transaction.

Other PIS Charges

Charged for every buy & sell transaction.


Frequently Asked Questions


No, short selling is not permitted for an NRI. An NRI investor has to take delivery of shares purchased and give delivery of shares sold.
Prabhudas Lilladher levies an interest of 18% per annum on delayed payments and charges are debited to client DP ledger amount.
PIS stands for Portfolio Investment Scheme which allows NRIs to invest in shares of Indian companies.
Yes, collect account opening form from our representative near to your area, fill that form along with documents submit that form to our representative.
No, only a residing citizen of India are allowed to invest in currency derivative segment as defined in Section 2(V) of FEMA Act 1999.
No, only one name can be registered with trading account. You can open demat account with joint holders.
Max limit for IPO application is 2 lakhs per transaction on UPI.

Prabhudas Lilladher Reviews