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SBICAP Securities NRI Account Opening, Charges, Services Review
SBICAP Securities NRI Account Opening, Charges, Services Review
SBICAP Securities Limited (SSL) is well-known for its world-class services and security. SSL is one of the leading stockbrokers of India which provides the facility to trade/invest in equity, derivative, currency, mutual fund, IPO, bonds, NCDs and much more. It provides the loan facility i.e. home loan, car loan and loan against securities. As a full-service broker of India, it has started its operation in the first quarter of the financial year 2006-07. SSL is the arm of the trusted and country’s largest bank SBI (State Bank of India) which is the India’s largest bank and also it is one of the subsidiaries of SBI Capital Markets Limited. SSL is a SEBI registered broker and member of the BSE and NSE. SSL offers a wide range of services that includes institution equity, retail equity, derivatives, broking, depositary services and third-party distribution products.
It offers free research and advisory services to resident Indians and non-resident Indians. SSL offers ‘SBISmart’ trading platform or software for Resident Indians and Non-Resident Indians (NRIs) to invest in various segments.
• SBISmart Portal (Browser-based trading platform).
• SBISmart Xpress (Desktop Trading Software).
• SBISmart Lite (Website).
• SBISmart Mobile App.
SBICAP Securities Limited NRI Account:
SBI offers 3-in-1 account services to NRIs across the globe but it does not solicit investments from NRIs based in UK, USA, Japan and Canada due to regulatory restrictions on cross-border investments. SBI is one of the most-trusted banks of India and it has 24000+ branches across India and 190+ overseas branches in 19 different countries.
SBICAP Securities 3-in-1 Account for NRI:
In association with SBI, SBICAP Securities offers 3-in-1 account for NRI across the globe i.e. NRI Portfolio Investment Scheme (PIS) Account + NRI Demat Account + NRI Trading Account. NRIs are allowed to open 4 accounts with a single application. It provides hassle-free fund transfer facility from PIS account to trading account. NRI 3-in-1 account includes:
1. SBI Portfolio Investment Scheme (PIS) Account for NRI- PIS account is for NRI customers to trade in the stock market. SBI offers PIS savings bank account to NRIs across the globe. All type of transactions from PIS account are reported to RBI by the bank.
It also offers Non-PIS NRE and NRO bank account in which transactions are not reported to RBI by the bank.
2. SBI Demat Account for NRI- It is an online account to hold stocks, mutual fund units, IPO shares, bonds etc.
3. SBI Trading Account for NRI- It is an online account linked to your demat account to trade in BSE and NSE in various different such as equity, derivative, currency etc.
SBICAP Securities NRI Trading Account Charges:
NRI Account Opening Charges
NRI Account AMC
Equity Delivery Brokerage
Equity Future Brokerage
Equity Options Brokerage
Documents Required to Open NRI Demat/Trading Account:
• PAN Card
• VISA/OCI/PIO Card/Resident Permit
• Foreign address proof- Utility bills/rent agreement etc.
• Indian address proof.
• RBI Permission letter.
• Passport size photograph.
• Valid Tax proof.
• Cancelled cheque or SBI bank letter.
All the above documents except RBI permission letter needs to be duly attested by one of the officers; High commissioner/ notary public/ Indian Embassy or consulate general in the country of your residence/ any SBI officials (With their SS number).
Points to be remember:
• It is allowed to open both NRE and NRO bank account but you can link only one bank account with SBI demat/trading account.
• If you link your NRE account with the trading account then you are allowed to trade only in equity segment.
• If you link with your NRO account with the trading account then you can trade in both equity and derivative segment.
• NRIs are allowed to trade only in equity and equity F&O segment.
• NRIs are not allowed to trade in intraday, currency and commodities segment on SBI platform.
SBICAP Securities NRI Mutual Fund:
NRIs can invest in mutual funds through this platform. NRIs don’t need a trading account with SBI to invest in mutual funds. NRIs can purchase and redeem various mutual fund units including debt funds, money market funds and equity funds through demat as well as physical mode.
NRIs can also invest in mutual fund through SIP in which an NRI can invest periodically as per their convenience.
SBICAP Securities NRI Customer Care Details:
SBICAP Securities provides 24/7 customer support via phone and email.
NRI Customer Care phone number- +91 22 6153 6900
NRI Customer Care Email id- email@example.com
Frequently Asked Questions
At 2.45 pm, SBICAP Securities auto-square off all the open intraday positions.
SBICAP Securities charges 0.05% for intraday trades and it is also known as Margin Intraday Square-up or MIS trades.
SBICAP Securities charges 0.03% for currency futures trading and Rs.30 per lot for currency options trading.
SBICAP Securities charges Rs.850 on opening of 3-in-1 account.
No, currently this facility is not available. You can not invest in commodity segment through SBICAP Securities as it is not a member of national exchange MCX.
Yes, you can place cover order and bracket order on SBICAP Securities.
SBICAP Securities charges 0.50% for equity delivery trade on SBICAP Securities.
It comprises of 3 balances; lien, ledger and collateral balance. • Lien- It is the total balance blocked by you for the trading purpose. • Ledger- After setting off the trade amount or outstanding dues, total balance available in your account is ledger balance. • Collateral- It is the notational valuation of your demat holdings, you can use this to place order.
Kindly follow the below steps: • Go to ‘download’ tab. • Fill and sign the ‘change in designated bank account’. • Attach the scanned copy of cancelled cheque of your bank account you wish to add. • You can send the scanned copy of your cheque for the verification purpose.
Limit, order, SL-L and SL-M are the types of order to be selected.