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

Nuvama Wealth and Investment Limited, a digitally powered securities company, is named after its vast array of products and services in the stock exchange industry.

You landed on the right page if you’re an overseas resident NRI with a strong interest in Indian stocks.

We will impart important information regarding the Nuvama NRI Account Review, giving you proper insight into the stock broker’s offerings.

We are also going to shed light on Nuvama NRI Account Charges. So, without much ado, let us delve into the article.

Why Invest with Nuvama NRI Account?

Below is the list of reasons why you should invest with a Nuvama NRI account:

• NRIs residing in Gulf countries, Singapore, New Zealand, Australia, the UK, and Hong Kong can have a 2-in-1, i.e., demat and trading account with Nuvama.
• With Nuvama NRI Account, NRIs can trade and invest in derivatives, equities, Mutual funds, currency derivatives, NCDs, and Bonds.
• Moreover, customers can access the firm’s products and services through a website, mobile application, terminal, and API-based trading platforms.
• The tech-driven company believes in digitization and has digitized all its trading and investments for its customers’ ease of use and access.
• They will assign clients a dedicated team of relationship managers and dealers to address their concerns.
• The firm also has a footing in the distribution of financial products and margin trade financing.

Nuvama doesn’t charge money to open an account, which means the account opening charge is Nil.

Coming to Nuvama NRI Account AMC, the firm charges the clients Rs.600 + 18% GST as Annual Maintenance Charges.

Apart from this, NRIs can also subscribe to Nuvama’s exclusive plans, like the Lite and Elite plans.

Under the Lite plan, the AMC is free for the first year, and from the second year, you have to pay Rs.300 + tax.

On the other hand, under the Elite plan, the AMC is free for the first year, and for the second year, it is Rs.500 + tax.

If you are all set to open a two-in-one NRI account with Nuvama, you must first and foremost know the Nuvama NRI Account Brokerage charges.

The firm charges Rs. 75 per Trade in equity delivery (PIS) and Rs.50 per Trade in equity delivery (non-PIS).

Nevertheless, it doesn’t allow trading in equity intraday. To trade in equity future and equity options, the firm levies Rs.50 per Trade as a brokerage.

NRIs who wish to explore a wide variety of trading segments may not be able to do so as the firm doesn’t support them.

How to Open a Nuvama NRI Account?

To Open a Nuvama NRI Account, follow the steps below:

1. Hit the “OPEN NRI ACCOUNT” option at the bottom.
2. It will redirect to a new page where you must input your details, bank details, trading preferences, etc.
3. You will receive a call shortly from the executive who will guide you through the following process.
4. Upload the soft copies of the necessary documents, such as the original PAN card, address proof, bank proof, and specimen signature for KYC.
5. The firm conducts verification by submitting all the documents to the firm digitally.
6. After successful verification, complete the ensign process.

Your account will open in 12 to 24 hours. Your password will be sent to your registered email ID.

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If you have decided to open a Nuvama Non-Resident Indian Account, you need to submit the following documents to the firm:

• Have the NRI Account Opening Form ready. Make sure to sign it beforehand.
• An identification document like a PAN card is required.
• The firm asks for proof of overseas address, and you can submit supporting documents like a driving license or overseas passport.
• For proof of Indian address, you could submit an Aadhaar, Indian passport, or driving license.
• To link your bank account with Nuvama, submit an NRE or NRO bank a/c Cancelled Cheque.
• Also, keep OCI/PIO cards ready.
• A valid passport and VISA are also required.
• A passport-size photograph of the NRI is a must, too.
• Account opening charges and demat opening fee cheques are to be submitted by the NRI.

Nuvama NRI Account – Top Features

Nuvama offers excellent features for its NRI customers. We have listed below for you:

• At Nuvama, you can open an account almost instantly without hassle.
• You can access Nuvamawealth.com, Nuvama Markets & TX3, Nuvama’s website, mobile app, and trading platforms by creating an NRI account with the firm.
• Our knowledgeable research team examines more than 200 businesses across more than 16 industries.
• Furthermore, the company competes with its peers regarding brokerage fees and demat charges.
• The firm exclusively offers two plans for NRI customers: Lite and Elite.

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NRIs who own a Nuvama NRI Demat Account can access the following products. Nuvama’s Demat account allows NRIs to trade equity delivery, options, and futures.

However, equity intraday is not offered at the firm. Also, the firm has zero support for trading segments like commodity options, commodity futures, currency options, and currency futures.

NRIs looking to invest their hard-earned dollars can happily invest in mutual funds at Nuvama.

After looking at Nuvama’s product range, let us look at the services offered along with the Nuvama NRI Trading Account.

The stockbroker offers demat and trading services to clients for smooth trading execution in the Indian stock market.

The firm assists NRIs in opening and managing these accounts effortlessly. While no intraday services are offered, F&O services are available.

IPO services are also available with the firm. Unfortunately, no PMS or PCG services are available to maintain an investment portfolio.

The stockbroker acts very diligently and responsibly with its clients, which is reflected in the support it offers.

You can connect with the firm’s customer care team if you have any queries regarding trading or investments made on the platform.

The customer care number is 022-66203030. You can also fetch Nuvama NRI Support through NRI Email Support at [email protected].

The firm offers trading and dedicated dealer support, both chargeable. For more information, you can visit Nuvama’s official website.

The firm is also active on social media platforms like Facebook and Twitter, while WhatsApp and Telegram channels are unavailable.

Nuvama has developed multiple digital trading and investment platforms to assist NRI clients. Here are some of them:

Nuvama Android App: With the Nuvama NRI App, you can trade and invest in the Indian stock market seamlessly.

The firm develops the app with excellent security, ensuring your information is secured and safe. The app lets you view the live share market and how your money proliferates.

Nuvama iOS App: The iOS app allows NRI clients to start their trading journey in just three clicks. With the app’s help, you can receive notifications and alerts regarding Nifty/Sensex.

NRIs interested in IPOs can look no further than Nuvama Markets to invest in the latest IPOs. NRIs can track trends in advance, research the stock charts, and choose the apt investment option.

Nuvama NRI Trading Platform: The stockbroker also has a web trading platform from which customers can easily carry the trading business.

Moreover, the financial organization also has dedicated mutual funds investment platforms, an algo trading platform, and a trading terminal.

As an NRI associated with Nuvama, you will have access to fundamental reports about the company’s performance and standard of services.

Apart from this, the firm also provides IPO reports to the customers, which help them find the best IPOs that meet their requirements.

The brokerage house also provides technical reports to NRIs to help them analyze the Indian stock market better. In addition, the company offers daily top stock picks and stock tips to customers.

Under Nuvama Advisory for NRI, relationship manager support is provided at full length, guiding you with trading and investments.

The broker doesn’t provide robo-advisory support to the NRIs.

Nuvama NRI Charges

Check out the Nuvama Hidden Charges for NRI below to learn what you need to pay the firm.

• SEBI Turnover Charges: The NRI must pay Rs.10/crore per each trade they made in all segments.
• DP Charges: You must pay the firm Rs.20 per ISIN for each stock you sell.
• GST: Besides the brokerage fee, the firm charges a GST of 18% on Brokerage + SEBI + Transaction charges.
• Account Closure Charges: Unlike some of its peers who charge nothing for account closure, Nuvama charges Rs.150.
• Reactivation Charges: Similarly, it charges Rs.100 for account reactivation.
• Dematerialisation Charges: NRIs who wish to dematerilize the certificates must pay Rs.18 per certificate to the firm.
• Call & Trade Charges: NRIs must pay Rs.20 per trade as call & trade charges.

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Nuvama NRI Account Review – Conclusion

It has been more than 20 years since the inception of Nuvama Group, and how it shaped its finance and wealth management sectors is commendable.

While sporting best-in-class features, it has come a long way in the money market. If you are looking to be a part of Nuvama by joining their NRI program, you can give it a try.

In this Nuvama NRI Account Review, we aim to help you make wise investment decisions by providing all the information we have discussed about products, services, brokerage, and more.

We trust we accomplished it.

FAQs on Nuvama NRI Account Review

Check out various FAQs related to the Nuvama NRI Account here.

How do you open an NRI Demat Account in Nuvama?

A straightforward process exists to open an NRI demat account online with Nuvama. A dedicated section explaining the step-by-step process is provided above.

How to Convert Nuvama Account to NRI?

NRIs who want to convert their trading account into an NRI account with Nuvama can contact the firm through customer care and follow their guidelines.

What is AMC for NRIs in Nuvama?

Nuvama charges Rs.600 + 18% GST from NRIs to maintain their trading and investment accounts for one year.

What is Account Opening Fees for NRIs in Nuvama?

Nuvama charges zero for account opening. Yes, the firm doesn’t accept money from NRIs for opening accounts.

Which assets are restricted from trading in Nuvama for NRIs?

Segments like intraday, commodity options, currency options, commodity futures, and currency futures are not allowed to trade in  this firm.

Can an NRI invest in a Mutual Fund in Nuvama?

Yes, it is possible to invest in mutual funds in Nuvama. The firm has a tech-driven platform that addresses the mutual fund investments of NRIs.

What is the Brokerage for Nuvama NRI?

The stock broker levies Rs.75 per Trade under the equity delivery segment and Rs.50 for PIS and NON-PIS, respectively. It also levies Rs.50 per Trade for equity futures and options.

Can a Nuvama NRI Account be Opened Online?

Yes, NRIs can easily open an online account with Nuvama without even moving from their couch. Customers can contact customer support with queries regarding opening an online account.

What is the Helpline Number for Nuvama NRI?

NRI customers facing any issues with trading or stocks can immediately contact the firm’s helpline number: 022-66203030.

Which documents are required to open the Nuvama NRI Account?

The stockbroker requests a variety of documents from customers to open an NRI account. You can check the list of all documents in this page.