Zerodha NRI Account – Benefits, Charges, Opening Process, Support & more

If you are one of the investors eager to open a Zerodha NRI account but unsure whether it would be a great initiative, come along.

Knowing why choosing an NRI account is crucial before paying Zerodha NRI account charges. Yet, most investors may even seek extra clarification, including AMC details and features.

Addressing these common concerns, this Zerodha NRI account review guides you through the step-by-step process of opening an account, accompanied by a breakdown of other vital metrics.

Why Invest with Zerodha NRI Account?

• Investing with a Zerodha NRI account is a good idea for NRIs. You can buy and sell stocks and derivatives, but only in delivery segment. There is no intra-day trading.
• The organization started operations in 2010 and is India’s most prominent stockbroker, certified by the stock exchange and clients.
• They provide two primary services: a trading account and a demat account. The trading account lets you trade on the BSE and NSE.
• Their NRI demat account is similar to the one for residents. You can also have another NRI or Indian resident as a nominee.

To open a NRI account, you pay Rs.500. Then, there’s an annual maintenance charge, i.e. Zerodha NRI Account AMC of Rs. 500 plus 18% GST.

That’s the cost of keeping your account active. With this small fee, the broker makes sure your account works smoothly.

So, when you think about opening a NRI account, remember these charges: Rs.500 to start and Rs.500 plus GST every year to keep it going.

Zerodha NRI Account Brokerage Charges are simple to understand. Delivery trading costs a bit, but there’s a choice between PIS and non-PIS.

For equity delivery with PIS, it’s 0.5% or Rs.200 per trade, whichever is lower. If it’s without PIS, it’s 0.5% or Rs.100 per trade, whichever is less.

Trading in equity futures or options costs a flat Rs.100 per trade. The charges for equity delivery (PIS) and non-PIS might seem a bit high, but it’s cool that they cap it at a maximum, making it affordable for small trades.

For instance, you’ll will pay only a maximum of Rs.100 or Rs.200 for that trade if the 0.5% of the trade value is more than Rs.100 or Rs.200.

How to Open a Zerodha NRI account?

Opening a Zerodha NRI account is easy; follow these steps:

Make sure you have all or any of the following accounts as per your selection of services:

• NRI Bank Account (NRE or NRO),
• PIS Bank Account (NRE or NRO),
• Custodial account for derivatives.

Please note: Zerodha only accepts NRI and other accounts from HDFC Bank, IndusInd Bank, IDFC FIRST Bank, Axis Bank, and others. So, confirm from the broker’s official site first.

1. Collect copies of the supporting documents listed above and notarize all supporting documents.
2. Then, scroll down and click the ‘Open NRI Account’ button below. A form will open up, fill it up, and submit it. You will get a call shortly from the company executive. You will obtain the PDF form for the account opening along with guidance from the executive,
3. Please fill out the form, sign it, and send it to Zerodha’s Bangalore office with the attached documents. You can email the documents or courier them to their Bangalore office.

Once you receive all the documents, this simple process will allow you to open a Zerodha NRI account within 3–5 working days.

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If you are serious about opening a Zerodha Non-Resident Indian Account, you’ll need a few essential documents:

• The participant must sign the NRI Account Opening Form. But make sure you check the accepted banks with them.
• The individual’s PAN card is another necessary identification document.
• You must provide proof of an overseas address, e.g., a driving license or passport.
• Your Indian address proof can be requested, so provide documents like an Aadhaar, a driver’s license, or an Indian passport.
• NRE or NRO Bank A/c Cancelled Cheque is another mandatory document for linking your bank account with Zerodha.
• OCI or PIO Card; if applicable, provide this card.
• You can be asked to provide a valid VISA, such as a work, student, employment, or resident permit.
• Attach a recent passport-sized photo.
• You may need to attach a check for account opening charges, such as providing a check for the Demat account opening fee.

Please note that if you opt for other services from Zerodha, you may need to submit additional documents separately.

Zerodha NRI Account – Top Features

Here’s why Zerodha for NRI is a good choice:

• The maximum cost is Rs.100 to Rs.200, depending on your pick.
• You can trade equities in various areas, though no intraday trading is offered.
• NRI gets dedicated assistance from the broker’s team, and there’s no waiting around.
• Trading is a breeze for NRIs. You can opt to trade using the app or website at the same time. There’s no restriction.
• They also provide algo and basket trading for those looking deeper.
• The fee structure is clear and straightforward. No surprises here!

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So, when it comes to the products offered with your Zerodha NRI Demat Account, let’s break it down for you.

You can hold onto stocks long-term with equity delivery orders accessible to NRI clients. But if you’re thinking of quick trades on the same day, equity intraday isn’t allowed.

However, if you’re into options or futures for stocks, yes, you’re in luck, as trading is allowed for these products. Note that NRI clients don’t have commodities currency options and futures.

Let’s head to the services offered to Zerodha NRI Trading Account holders now. If you’re into intraday services, you may not receive any assistance.

But they have your back regarding futures and options (F&O) trading. You’re in luck even if you consider diving into Initial Public Offerings (IPOs).

Their IPO services are also there for your rescue. But if you’re looking for portfolio management services (PMS) or personalized portfolio creation (PCG), they don’t provide those.

If you ever need help with your account, contact the Zerodha NRI Support team. You can call them at the provided number, or if you prefer emails, reach out to [email protected].

The broker has a dedicated support team to answer all your trading and related queries. But keep in mind that it may come with a charge.

If you need a devoted dealer, that’s available too, but it’s chargeable. If you’re into social media, check them out on Facebook and Twitter for extra support.

Unfortunately, no support on WhatsApp is available right now, but you can also find them on Telegram.

You might be wondering how it feels to trade on Zerodha. So, let’s break down the Zerodha NRI App and Trading Platform into simple points:

• Kite Trading App: The broker facilitates convenient and reliable trades for iOS and Android users. You can download the version on your app or Android, as both are accessible.
• Kite Web Trading Platform: If you prefer trading on your computer or don’t want to use a mobile app, their Web Trading Platform is for you.
• Trading Terminal: Zerodha doesn’t have a specific trading terminal for NRIs.
• Algo Trading Platform: One of the best things about Zerodha lies in its Algo Trading Platform. It can automate your trading strategies, making things easier.
• Foreign Stock Trading Platform: Currently, they do not allow trading foreign stocks.
• Basket Trading Platform: The organization has a basket trading platform. It means you can place multiple orders simultaneously, simplifying your trading strategy.

Let’s take a look at Zerodha Advisory for NRI. The booking platform has a history of impressing its clients through various means, including research and advisory.

• First, you have fundamental reports, which help you understand the basics of a company’s health and performance.
• You’ll receive a report if a company is about to launch its shares for the first time.
• There’s also a technical report, which uses charts and graphs to analyze a stock’s performance, helping you make informed decisions.
• Unfortunately, they do not provide direct tips on which stocks to buy. Similarly, they don’t give specific daily stock recommendations.
• The company doesn’t assign someone specifically to you for personal advice. But if you want, you’ll be charged an additional amount.
• They offer automated advice using algorithms, helping you with investment strategies.

Zerodha NRI Charges

We saw that the security transaction tax varies from product to product in Zerodha. Alongside this, the Stock Exchange Board of India also mandates stamp duties and transaction charges.

But now it’s time for us to look at some Zerodha Hidden Charges for NRI you might encounter with your account. Keep in mind that these are standard fees that apply to various transactions.

Aside from this, some hidden charges also exist. Here’s a quick heads-up:

• SEBI Turnover Charges: It’s like a small fee—Rs. 10 for every crore you trade in all segments.
• DP Charges: When you sell a stock, Rs.13.5 per share is charged.
• GST: The tax is 18% on your combined brokerage, SEBI, and transaction charges.
• Account Closure Charges: If you decide to say goodbye to the broker, you’ll pay only Rs.25.
• Reactivation Charges: If you return after a break to restart your journey, you’ll be charged Rs.20 for the account reactivation fee.
• Dematerialization Charges: Turning physical certificates into electronic ones costs Rs.30 each.
• Call and Trade Charges: The broker charges Rs. 50 for each trade you make during a call.

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Zerodha NRI Account Review – Conclusion

In this Zerodha NRI Account Review, we get to the depths of the NRI account and figure out the potential merits and demerits of the stock broker for investors.

Set up in 2010, the discount broker is primarily known for its trust score in the Indian stock market. Used by millions of investors, Zerodha can be your reliable ally as an NRI investor.

FAQs on Zerodha NRI Account Review

Here is the list of FAQs related to the Zerodha NRI account.

How to Open NRI Demat Account in Zerodha?

You cannot open your NRI account online. The procedure is explained in the article’s section.

How do you convert Zerodha’s account to NRI?

Individuals who are Indian residents can transform their accounts into demat accounts and NRI-NRO trading, but not into NRI-NRE accounts.

What is AMC for NRIs in Zerodha?

The AMC for Zerodhas for NRIs is 500 INR plus 18% tax.

What is Account Opening Fees for NRIs in Zerodha?

The account opening fee for the NRI account is 500 INR.

Which Assets are Restricted for Trading in Zerodha for NRIs?

By SEBI regulations, an NRI can invest up to 5% of a company’s paid-up capital on either a repatriation (NRE) or non-repatriation (NRO) basis. Trading in F&O by an NRI is limited to the NRO account, and a custodial participant (CP) code is mandatory.

Can an NRI invest in a Mutual Fund in Zerodha?

Certainly, NRIs are eligible to invest in mutual funds on Coin if they possess a non-PIS NRI account with Zerodha.

What is the Brokerage for Zerodha NRI?

For PIS accounts, the charge is 200 INR or 0.5% or, whichever is less, per executed order. The non-PIS accounts fee is 100 INR or 0.5% or less per completed order.

Can Zerodha’s NRI Account be opened online?

NRI accounts are not eligible for online opening. Nevertheless, you can electronically fill out the account opening form for NRO-Non-PIS and NRE-PIS accounts.

After online validation, please dispatch the file to the company’s office using a courier service.

What is the Helpline Number for Zerodha NRI?

The clients can reach out at 080 4680 5727 for their queries.

Which documents are required to open a Zerodha NRI Account?

These are the list of documents, you must keep handy in order to open Zerodha NRI account:

• Cancelled cheques
• Self-attested copy of passport.
• Self-attested copy of Indian address proof.
• Salary slips for six months
• Income tax return acknowledgement or Form 16
• Net Worth certificate
• Demat holdings statement