5Paisa NRI Account – Benefits, Charges, Opening Process, Support & more

Know everything about 5Paisa NRI Account here. As you know, both NRIs and Indian residents are allowed to trade in the Indian stock market.

However, as an NRI, you are mandated to open an NRI account in India. Many prominent brokerage houses offer NRI account services, and the newest on the list is 5Paisa.

5Paisa recently opened its doors to non-Indian residents who want to open a demat and trading account in India. But you might wonder what this new entrant has to offer.

In this 5Paisa NRI Account Review, you will learn the ins and outs of NRI trading and demat accounts, from 5Paisa NRI Account Charges and perks to the account opening process and advisory support.

Why Invest with a 5Paisa NRI Account?

• First, the discount broker facilitates a budget-friendly way to open an NRI account. You should pay 450 INR to set up your NRI account in India.
• An individual holding the 5Paisa NRI Account can trade in stocks and derivatives in the delivery segment.
• The discount broker is the one-stop destination for mutual funds investments in India.
• Being the first publicly listed online broker, it offers NRIs access to many trading platforms. These platforms include a mobile app, web, algo, foreign stocks and basket trading platform, mutual fund investment platform, and trading terminal.
• You can close or reactivate your account whenever you want to without incurring any expenses.

Do you want to join hands with India’s fastest-growing discount broker to embark on your trading journey in India? If yes, your first step is to set up an NRI account with 5Paisa.

Now that you have decided to open an NRI trading and demat account with the brokerage house, get ready to pay Rs.450.

Yes, it’s right! The account opening charges are Rs.450, and the best part is it’s a one-time fee. Once the account is opened, you still have to try to maintain it.

The company can do the job for you in return for 5Paisa NRI Account AMC (account maintenance charges) of Rs.500 + 18% GST.

Here is the breakdown of 5Paisa NRI Account Brokerage charges:

You can’t trade in the Indian stock market without paying brokerage charges for each transaction. The broker’s brokerage charges vary with PIS and non-PIS for equity delivery.

If you want to trade in the equity delivery segment in the PIS, you will have to pay Rs.150 per trade. The brokerage fee for trading in equity delivery, non-PIS segment is Rs.80 per trade.

Furthermore, trading in equity futures and options is only possible when you pay flat brokerage charges of Rs.80 per trade.

How to Open a 5Paisa NRI Account?

Following these steps is the key to Open 5Paisa NRI Account:

1. The first step requires choosing whether you want to open an NRI bank account (NRE or NRO), a PIS bank account (NRE or NRO), or a custodial account for derivatives.
2. Once you apply for any of these accounts, tap on the ‘Open an NRI account’ form below on the screen. A form will open, enter all necessary details, and submit the form. You can expect the company’s executive to contact you shortly. The executive will share the PDF form to set up an NRI account and guide you through the further steps.
3. Please fill out and sign the form. In addition, attach copies of self-attested supporting documents, as mentioned in this review. After attaching the mandatory documents to the account opening form, you can email or courier them to 5Paisa’s office.
4. Once the company receives the form and all the documents, your NRI account will be open within 3-5 working days.

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Knowing the document requirements before starting the NRI account opening process will help.

Mandatory documents to Open a 5Paisa Non-Resident Indian Account will give you enough time to collect them.

• The applicant must sign the NRI account opening form.
• NRI’s PAN card is mandatory to prove his identity.
• Address proof, including a driver’s license, bank statement, and overseas passport, is compulsory.
• Submit your Aadhaar card, Indian passport, or driver’s license to verify your Indian address
• Attach your cancelled cheque to your NRE or NRO bank account.
• OCI or PIO card along with a valid passport are mandatory.
• Vaid VISA is compulsory and can be a student, resident, employment, or work permit.
• Paste the passport-size photo on the form and attach a PIS letter from the bank.
• The cheques you deposited to pay account opening charges and demat opening fee.

5Paisa NRI Account – Top Features

The below listed are some features that make 5Paisa for NRI an excellent choice:

• Your maximum brokerage charge can range from Rs. 80 to Rs. 150, depending on your trading goals.
• 5Paisa allows NRIs to trade equities in various areas, but the company doesn’t facilitate intraday trading.
• You will get dedicated customer support, allowing you to resolve all your queries by calling, emailing, or via social media.
• By logging into all vital trading platforms, from mobile apps to mutual fund investment platforms, trading will be a breeze with 5 Piasa.

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You can’t open the 5Paisa NRI Demat Account without knowing the financial product offerings beforehand.

Equity delivery orders allow NRIs to hold their stocks and derivates for a long, but they can’t access intraday trading.

Most Indian brokerages don’t offer NRIs the facility of quick trades, and 5Paisa is one such broker. Furthermore, if you desire to invest your funds in Indian equity options and futures, you are in luck.

The company allows NRIs to trade in equity options and futures. Other than that, no commodities and currency trading options are available.

However, you can expect the firm to allow you to invest in varied Indian mutual fund schemes.

Let’s dig further to uncover the 5Paisa NRI Trading Account services:

If you are looking for intraday services, sorry, you can’t expect them from 5 Piasa.

Other than that, the organisation has your back when it comes to demat and trading services. In addition, the company’s executives will help you to trade in equity futures and options.

Are you considering investing in the stocks listed publicly for the first time in India? If so, you can seek assistance from the brokerage house’s IPO services.

Are you dealing with some issues when operating the company’s trading platform? Do you want to communicate those issues to 5Paisa? It’s possible by accessing the 5Paisa NRI Support.

You can contact the firm’s customer support department via call or email to communicate your queries, complaints, or issues. They will help you with all genuine questions and problems.

If you explicitly need trading support or dealer guidance, the company provides it in return for some fees.

Moreover, you can use your social media, such as Facebook, Twitter, and Telegram, for customer support.

5Paisa is the first online brokerage company to be listed publicly. So, you can’t expect less from the firm regarding technological support.

Here listed are trading platforms that an NRI can log into for a streamlined trading journey:

Mobile App: The 5Paisa NRI App is your one-stop solution for achieving your financial aspirations by trading in the Indian stock market.

Used by millions of users, this app is a cutting-edge platform for gaining insights into 5,000+ listed stocks.

Moreover, this trading app facilitates easy withdrawals, tracking account activity, instant fund transfers, and alerts.

Web Trading Platform: 5Paisa NRI Trading Platform allows you to log into your dashboard and place trade orders.

Moreover, you can view and manage your investment portfolio online, gain insights into the stock market, and track your brokerage charges.

Trading Terminal: The company-owned trading terminal provides NRIs with the interface to trade and invest in varied financial assets in India.

You can access real-time financial information via a trading terminal and place buy and sell orders accordingly.

Algo Trading Platform: Trading in the Indian stock market is about speed and timing.

The brokerage house’s robust algorithm trading platform can help you place profitable trade orders within a few seconds.

Foreign Stocks Trading Platform: By logging into the firm’s foreign stocks trading platform, you can fulfil your desire to buy and sell foreign stock assets.

Basket Trading Platform: 5Paisa offers a user-friendly basket trading platform that allows NRIs to buy or sell securities in bulk at just one click.

Mutual Fund Investment Platform: This trading platform allows you to choose from 9,000+ Indian mutual fund schemes.

You can invest in those that best suit your financial goals while living in another country.

As an NRI, you might find it challenging to trade in the Indian stock market, especially for the first time. In such a case, you might expect some research and Advisory from 5Paisa Account for NRI.

However, you are in no luck as the company doesn’t offer research and advisory support, be it fundamental and technical reports, stock tips, or relationship manager support.

Since 5Paisa recently introduced its NRI account services, the company will soon offer research and advisory support.

5Paisa NRI Charges

Let’s head to the charges that 5Paisa levies on its NRI investors or traders:

• STT charges for equity delivery: When trading in the equity delivery segment, you must pay 0.1% on buys and sells as STT charges.
• Stamp duty charges for equity future: You can buy equity future only after paying 0.002% stamp duty.
• Transaction charges for equity option: To complete your equity option transaction, you must pay transaction charges of 0.053% of the premium.
• Pledge and margin charges: Although you can invocate the pledge for free, you must pay INR 12.5 plus GST for each request to create one.
• Hidden charges: 5Paisa Hidden Charges for NRI entails SEBI turnover charges of Rs. 10 per crore for all segments and DP charges of Rs. 13.5 per scrip only on the sell side. In addition, there are GST, dematerialisation, and call & trade charges.

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5Paisa NRI Account Review – Conclusion

Among India’s top ten discount brokerage houses, 5Paisa is an excellent choice for setting up an NRI account with an online company.

The firm caters to lakhs of Indian and international clients with its exceptional NRI account services and highly responsive trading platforms.

After reading this 5Paisa NRI Account Review, you might already have decided that opening an NRI account with a broker can provide a smooth trading experience.

FAQs on 5Paisa NRI Account Review

Check out various FAQs related to the 5Paisa Non-Resident Indian Account.

How to Open an NRI Demat Account in 5Paisa?

5Paisa facilitates a super-easy process to open the NRI demat account. You can open two types of demat accounts with the discount broker – NRE and NRO.

This article has a dedicated section guiding you through the Demat account opening process.

How to Convert 5Paisa Account to NRI?

Converting your account with the company to NRI is only possible after completing the requisite form and submitting mandatory documents.

Remember that an Indian resident can transform his account into an NRI-NRO trading and demat account.

What is AMC for NRIs in 5Paisa?

You can seek the firm’s help to maintain your NRI account by paying Rs. 500 plus 18% GST as AMC.

What is Account Opening Fees for NRIs in 5Paisa?

An NRI can set up a trading and demat account with 5Paisa by paying Rs. 450.

Which Assets are Restricted for Trading in 5Paisa for NRIs?

The brokerage house restricts the NRIs from trading in the intraday segment, commodities, and currencies.

Can an NRI invest in a Mutual Fund in 5Paisa?

Non-Indian residents can invest in registered mutual fund schemes in India.

What is the Brokerage for 5Paisa NRI?

The brokerage charges for NRIs trading in equity delivery in PIS are 150 INR per trade, and non-PIS are 80 INR per trade. Moreover, you can trade in equity futures and options by paying Rs. 80 per trade.

Can 5Paisa NRI Accounts be Opened Online?

You can open a 5Paisa NRI account online for free by visiting the company’s official website.

What is the Helpline Number for 5Paisa NRI?

The helpline number for NRIs is 8976689766.

Which documents are required to open a 5Paisa NRI Account?

You must submit the following notarised documents to set up an NRI account with the discount broker:

• NRI account opening form
• PAN card
• Overseas and Indian Address proof
• PIS letter from the bank
• Account opening charges and Demat opening fee cheque
• Passport size photo
• NRE or NRO bank account cancelled cheque
• OCI or PIO
• Valid VISA
• Passport