Sharekhan NRI Account Review - Opening, Charges, Services
Sharekhan NRI Account Review | Features and Details
Sharekhan is one of the largest stock brokers in India and was incorporated in the year 2000 and provides its brokerage services by its website. It has grown immensely since last 10 years and now is considered as the leading stock broker of India. It provides services to all kinds of customers that includes investors, traders, corporate, institutional and NRIs. It provides its execution facilities for the Equity Cash and derivatives segments on BSE and NSE, commodity facilities on MCX and NCDEX.
Sharekhan NRI Account Details
NRIs can start trading in the Indian share market by opening an account with Sharekhan. This stock broker provides a 3 in 1 NRI account. This account is a combo account that includes three accounts in it which are listed below:
1. NRI Bank Account- The NRI bank account comes in two forms i.e. NRE and NRO account. It has a partnership with four banks i.e. Axis, IndusInd, IDBI and HDFC bank. The customers can open an NRI bank account with only any of these banks.
2. NRI Demat Account- These account holds the securities such as stocks, mutual funds, IPO shares and much more in electronic format. This account is a compulsion to start investing in Indian Stock Markets.
3. NRI Trading Account- It provides the access to BSE and NSE to trade across various segments such as stocks, equity derivatives and ETFs.
Sharekhan NRI Demat Account
Sharekhan offers the NRI demat account opening facility to its customers through the NSDL and CDSL Membership.
Features of Sharekhan demat account for NRI
1. Sharekhan account for NRI is very similar to the normal Sharekhan demat account.
2. An NRI has to select the account type as “NRI” and subtype as “Repatriable or Non-Repatriable” at the time of account opening.
3. An NRI Bank account (NRE or NRO) has to be linked with the demat account. The dividend or interest earned is auto-credited to the account.
4. The account can be used to trade in various instruments such as IPOs and Mutual Funds besides the stocks is one of the benefits of NRI demat account sharekhan.
5. The account can have another NRI or Indian Resident as a nominee.
6. Benefits of having NRI account is that customers can access the account online.
7. It provides alerts and notifications for each debit/credit.
Documents Required to open a NRI Account with Sharekhan
The documents that are necessary to open a NRI account with Sharekhan are:
1. A copy of passport and VISA.
2. A copy of PAN Card.
3. Foreign Address Proof- Copy of Driving License, Foreign Passport, Utility Bills, Bank statement, notarized copy of rent agreement, leave and license agreement or sale deed.
4. Indian Address Proof (If any).
5. Two passport size photographs.
6. PIS Letter.
7. Two cheques (one for account service charge in favour of Sharekhan Ltd, the other in favour of “Your Name-Bank name” as the initial deposit to the bank.
• The documents should be self-attested. If you apply for overseas, get all the documents attested by Indian Embassy or consult general or overseas banker or Notary.
• It can open both NRE and NRO account with the bank. However, you can map only one of the both account with your Sharekhan NRI Trading account.
• NRIs can trade in Stocks and Equity Futures and Options. Trading in Currency and Commodities is not allowed to NRIs.
• NRIs can not trade in Intraday Trading.
Sharekhan NRI Account Opening Process
If you are residing in India then the easiest way to open an NRI account is to visit the nearest branch of Sharekhan but in case you are overseas then you must follow the below mentioned steps to open account.
1. Visit the company’s website.
2. Move the cursor to “Products and Services” button from the navigation bar.
3. Now, under Sharekhan services select on “NRI Services”.
4. Click on “Open an Account Tab”.
5. Fill in the registration form and wait for a call back. The sales representative will contact you take the process further.
Sharekhan NRI Mutual Funds
Sharekhan NRI customers can easily invest in the mutual funds by using the Insta MF. It is an online paperless Mutual Fund Investment platform. An NRI can easily set up or do lumpsum investment in the Mutual Funds.
Features of NRI Mutual Funds
1. A NRI can buy, redeem or switch mutual funds online.
2. It creates a model portfolio as per the risk appetite.
3. It provides expert advice on the phone and chat.
4. It provides the SIP facility. The customers can view portfolio performances online.
Benefits of NRI Account
1. It is the most reliable and among the biggest stock broker in India.
2. It provides various advanced trading platforms in desktop, mobile and web browser.
3. It offers online Mutual Funds, IPOs and Bonds.
4. It provides PMS services for wealth management.
5. It provides hand holdings to the beginners in the stock market.
Sharekhan is an excellent choice as a stock broker for NRIs. It provides a complete range of the financial services to NRIs that includes smooth 3-in-1 trading account, research services, investment in Mutual Funds, IPOs, NCDs and also PMS. It also provides GTC and AMO order along with the Call and Trade facility helps to place orders in the timing suitable to them. Sharekhan NRI customer care number is +91 022 6518500.
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Frequently Asked Questions
In case the customer forgot or lost their Sharekhan Login Id then they can get it back on their mobile or mail id at any time just by submitting an online request. Steps to recover Sharekhan Login ID are: • Visit the Sharekhan Website. • Select the login or trade option in the top right. • Click on the Forgot Id. • Now, check on login Id. • Enter the mobile number and mail. • Validate the Captcha code. • Click on the Submit Option, then the login will be sent to their mobile or mail as per their choice.
Yes, Sharekhan offers mutual funds SIP services.
Good-For-day is the validation period of order with Sharekhan. The orders that are placed under GFD are valid until the market closes on the day of the placing order and it will be executed as soon as the set price is available.
It takes maximum 24 hrs except the bank holidays.
No, Sharekhan do not offer the forex trading facility.
Sharekhan is known for bringing the new and innovative ways of investment. It helps its customers to earn more profits in the near future. It is a very trustworthy firm and one must feel safe being under them.
Trade Tiger is the Sharekhan desktop trading platform.
Sharekhan works on various platforms and this makes it very convenient for the users. It provides a pretty solid mobile trading facility. The platform works on high speed advancement and gets the work done in no time.
In order to open a trading account with Sharekhan, the account opening is free.
Sharekhan offers four types of accounts to suit the customers need: • First Step (For Beginners) • Classic (For Investors) • Trade Tight (for Active Traders) • Advisory (For HNIs)
Yes, while the bidding for the IPO shares is open, the customers can modify or cancel the IPO application placed online.
Pay-in options include Cheque, Online Bank Transfer via IMPS, NEFT or RTGS, UPI, Net banking/Payment Gateway from Reliance Smart Money Platform. Pay-out/Fund Withdrawal- Bank Transfers only.
Sharekhan is a depository participant with both NSDL and CDSL depositories. The customers can choose from one of the depositories at the time of account opening. The Sharekhan DP Id on which depository you have the account with. Sharekhan DP Ids for NSDL and CDSL are: NSDL DP Id: IN300513 CDSL Id: 12036000
No, Sharekhan is not free. The company charges brokerage and other fees for its services.
It is a part of Stop Loss order. When an individual places a stop loss order then you are required to enter two types of prices i.e. Trigger price and Limit Price. The stop loss order gets activated when the price of a security reaches or crosses the trigger price. The order is executed at the limit price as mentioned.
Yes, Sharekhan provides day trading and it increases the chance of doing excellent business of luring the customers in who are just as willing to put their money into action.
There are two ways to open an account with Sharekhan: • Request a call back from Sharekhan representative for account opening. • Now, visit the local branch or request a call back and their sales representative will call you in some time.
No, the users can’t utilize the trading account allocated funds for IPO. But they can transfer fund between the trading account and IPO account.
Yes, this stock broker provides news and live market alerts.
No, Sharekhan does not allows to have multiple trading accounts with the same.
Yes, Sharekhan provides the quarterly reports of equity and mutual funds.