Kotak Securities NRI Account – Benefits, Charges, Opening Process, Support & more

If You have started searching for top Indian NRI Accounts, then among the top names, one is Kotak Securities NRI Account.

Do you want to enter the Indian stock market to increase your bank balance while living abroad? If yes, you must adhere to the SEBI and RBI requirements, i.e., having an NRI account in India.

It’s only possible by collaborating with a trustworthy stock broking firm in your home country.

The organization help NRIs simplify their global trading journey by offering a three-in-one (the NRI demat, trading, and Kotak Securities NRI savings) account.

Kotak Securities NRI Account Review offers a straightforward way to understand the nuances of Kotak Securities NRI Account Charges, the account opening process, document requirements, and more.

Why Invest with Kotak Securities NRI Account?

• The brokerage house was incorporated in 1994, making it one of the oldest stockbrokers in India. Hence, with the Kotak Securities NRI Account, you can leverage the firm’s years of experience to improve your trading strategies.
• You can legally purchase and sell securities on the NSE and BSE by opening an NRI account with the firm.
• Talking about its product offerings, NRIs can trade in equity delivery, futures and options, and mutual funds.
• An NRI needing help when trading for the first time in India can expect to receive top-notch trading, Demat, F7O, IPO, and PMS services.
• NRI account holders can trade online via user-friendly trading platforms or place orders via call at their convenience.
• Customer care is available to assist you with trading or using the company’s trading platforms.

The key to opening your NRI account with Kotak Securities is paying specified account opening charges of Rs.3,750.

You might want to step back as the fee is higher than that of the other Indian brokerage houses.

However, since Kotak Securities is a well-established firm, you can expect top-notch trading experience by paying this one-time fee.

Besides opening your trading account, maintaining it is vital for a seamless trading experience.

The broker can do it on your behalf in return for Kotak Securities NRI Account AMC, i.e., Rs.750 + 18% GST.

All brokerage houses levy a fee for the trade order you place or transactions you make in the Indian stock market.

Kotak Securities is no exception and, thus, charges the following brokerage fees from non-Indian residents.

The first in the Kotak Securities NRI Account Brokerage list is a 1% fee for trading in the PIS and non-PIS equity delivery segment. Another point to note is this fee is charged on your transaction value.

Next on the list are brokerage charges of 0.1% on the transactional value of equity future and INR 150 per contract for trading in equity options.

How to Open Kotak Securities NRI Account?

Here is the step-by-step guide to Open Kotak Securities NRI Account:

1. The first step is to decide whether to open an NRE, NRO, FCNR (B), or PIS account.
2. Once selected, look for the ‘Open an NRI account’ form. You must enter all the details the form asks for and tap the submit tab. The company’s team will receive the form and you can soon communicate with its executive. On call, the executive will guide you to open an NRI account and provide the form for the account you want to open.
3. Complete the form and attach the documents listed in the section below. Then, courier the form and documents to the company.
4. The firm will perform a KYC verification to confirm your identity.
5. Once your KYC is verified, your NRI account will be activated within three to four working days.

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Submitting the below-listed documents is critical to Open Kotak Securities Non-Resident Indian Account:

• NRI account opening form that you must have filled and signed.
• NRI’s PAN card to validate his identity.
• A few documents such as a driver’s license, overseas or Indian passport, Aadhaar card, or bank statement to validate your address in India and a foreign country.
• Attach your NRE or NRO bank account’s cancelled cheque with the form.
• Copy of OCI or PIO card
• Copy of your valid passport and VISA
• Passport-size photograph
• Give the company the cheque you might have deposited to pay the account and demat opening fees.
• PIS letter

Kotak Securities NRI Account – Top Features

The below-discussed features are what make Kotak Securities for NRI a perfect one-stop store to trade in your home country:

• The expert team is appointed to provide NRI account holders with in-depth research and advisory services.
• You can place GTC (Good Till Cancelled) and AMO (After Market Orders) orders.
• Mobile apps and web-based and desktop-based trading platforms are available to place orders online quickly. In addition, these platforms can provide you with detailed news and real-time updates about the Indian stock market to help you make rational trading decisions.
• Kotak Securities also launched its academy to guide someone new to trading in the Indian stock market.

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Set up the Kotak Securities NRI Demat Account and trade in the following discussed financial products!

Trading in the equity delivery segment allows you to hold your stocks and derivates longer, but you can’t buy and sell securities on the same day.

The company does not allow equity intraday trading. Another product offering includes futures and options only in the equity segment.

Lastly, Kotak Securities is among the few Indian stockbrokers allowing NRIs to invest in Indian mutual fund schemes.

Now that we have covered the product offerings, let’s discuss the services a Kotak Securities NRI Trading Account holder can avail of.

You can set up a demat and trading account with the brokerage house while leveraging dedicated services for the two.

Since the firm doesn’t allow intraday trading, you can’t also expect intraday trading services. You want to trade in futures and options, which Kotak Securities allows, but you don’t know how to proceed.

The firm offers F&O services to assist such NRIs. Are you a novice to investing in Indian IPOs? You might be nervous, but you shouldn’t be, as there are IPO services to help.

Lastly, the company provides PMS or PCG services to aid NRI traders in tracking and managing their investment portfolios.

Regarding Kotak Securities NRI Support, the brokerage house uses multiple communication channels to assist its customers.

You can call a toll-free number, 1800-209-9393, or email your queries to [email protected].

These lines are open between 8 a.m. and 6 p.m. IST on weekdays and from 9 a.m. to 2 p.m. on Saturdays.

Moreover, after paying pre-specified charges, you can avail of trading and dedicated dealer support.

Kotak Securities integrates social media channels to provide customer support, and the platforms include Facebook, WhatsApp, Twitter, and Telegram.

You can also contact the NRI desk helpline and support via the firm’s official site.

No brokerage house can survive in this technology-dominant age without introducing trading platforms.

Therefore, Kotak Securities allows NRIs to log into the following platforms to facilitate online trading:

Mobile app: Kotak Securities NRI App can be used by iOS and Android users to invest in the share market, mutual funds, IPOs, and trade in stocks.

Furthermore, Kotak Neo is a dependable stock trading, finance, and investment application facilitating easy online trading to registered NRIs.

Web trading platform: Kotak Neo is the Kotak Securities NRI Trading Platform that provides access to Indian share market research reports, expert tips on financial assets, watchlists, charts, and other technical support.

Some exclusive features include bracket orders, limit price protection, price alerts, a new simplified order form, etc.

Trading terminal: It’s a robust platform for easy equity trading in the futures, options, and delivery segment.

In addition, you can view real-time updates on NSE and BSE and their respective indices to place profitable trade orders.

Basket trading platform: It is the ultimate solution for placing stock buy and sell orders in bulk with a single click.

Mutual funds investment platform: This MF investment platform allows you to invest in Indian mutual funds with a minimum monthly investment of INR 500.

Kotak Securities Advisory for NRI is provided by the expert team working in the industry for a long. You can leverage their experience and expertise for in-depth market research and advisory services.

Do you want to know about Kotak Securities’ financial standing? Here you go! The company provides fundamental reports to help NRIs understand its current financial performance.

IPO reports are available for non-Indian residents who want to research the latest companies planning to introduce their shares publicly.

In addition, you can view daily top stock picks to choose the best stocks to invest in or trade-in. A relationship manager will guide you at each step of your trading journey in India.

Kotak Securities NRI Charges

This section covers the charges an NRI might have to bear when trading in the Indian stock market via Kotak Securities:

• STT charges: The firm charges 0.1% STT for buying and selling in the equity delivery segment, 0.0125% on selling equity futures, and 0.0625% on equity of sale options.
• Stamp duty charges: When buying in the equity delivery segment, you must pay 0.015% stamp duty. Moreover, stamp duty for purchasing equity futures and options is 0.002% and 0.003%, respectively.
• Transaction charges for equity delivery: To complete your equity delivery transaction in NSE, you must pay 0.00335%, and in BSE, the charges are 0.00375%.
• Pledge and margin charges: Any ARI who wants to create a pledge must pay 0.05% of the value. Moreover, he can invocate the pledge after depositing 0.04%.
• Hidden charges: Kotak Securities’ hidden charges for NRIs entail DP charges of INR 21 per scrip on sell, call and trade charges of Rs. 90/trade, and more.

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Kotak Securities NRI Account Review – Conclusion

One of the oldest full-service stockbrokers in India, Kotak Securities offers seamless trading opportunities to non-Indian residents via its NRI account.

Kotak Securities NRI Account Review discusses what the stockbroker has to offer NRIs wanting to trade and invest in India.

At Kotak Securities, you will get everything from innovative trading platforms, superior-quality services, and multiple financial products to dedicated customer support and top-notch research and advisory support.

FAQs on Kotak Securities NRI Account Review

Check out various FAQs related to Kotak Securities NRI Account.

How to Open an NRI Demat Account in Kotak Securities?

The first step is to decide whether you want to open an NRE, NRO, FCNR (B), or PIS account. You can refer to the NRI account opening section in the review for further steps.

How to Convert the Kotak Securities Account to NRI?

You can convert your account with the stockbroker to an NRI account by submitting the necessary documents and completing the NRI account opening form.

What is AMC for NRIs in Kotak Securities?

You can ask the company to maintain your NRI account by paying INR 750 plus 18% GST.

What is Account Opening Fees for NRIs in Kotak Securities?

An NRI must pay Rs. 3,750 when thinking of creating the NRI account with the company.

Which Assets are Restricted for Trading in Kotak Securities for NRIs?

Kotak Securities don’t allow non-Indian residents to trade in the intraday segment, commodity F&O and currency F&O.

Can an NRI invest in a Mutual Fund in Kotak Securities?

The brokerage house allows you to invest in Indian mutual funds at a minimum of INR 500 per month.

What is the Brokerage for Kotak Securities NRI?

The broker asks for the same amount as a brokerage for trading in equity delivery PIS and non-PIS segment, i.e., 1% of transaction value.

Other than that, to trade in equity futures, the brokerage will be 0.1% of transaction value and Rs. 150 per contract for equity options.

Can Kotak Securities’ NRI Account be opened online?

The firm’s official website has a dedicated section displaying the NRI account opening form.

After filling in the form and attaching mandatory documents, dispatch it to the company’s office via courier or online.

What is the Helpline Number for Kotak Securities NRI?

The toll-free helpline number for NRI to contact the firm’s customer care desk is 1800-209-9393.

Which documents are required to open a Kotak Securities NRI Account?

To learn the documents requirement to set up an NRI account, you can go through the table or section dedicated for the same.