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

To open an Upstox NRI account, the individual must qualify as an NRI per the GOI.

An individual will be recognized as a Non-Resident Indian (NRI) if their stay in India during the preceding financial year is fewer than 182 days.

Opening an NRI account is simple and will be explained in this article. In this Upstox NRI Account review, we have covered everything you need to know before opening your account with the company.

We will cover all the topics related to the Upstox NRI account charges, products & services provided, support facilities, etc.

Why invest with a Upstox NRI account?

Undoubtedly, Upstox is one of the best platforms to explore if you open your NRI account with them. Let’s look at some of the reasons you should know:

• The Upstox account makes investing in the Indian stock market significantly more convenient, substantially reducing transaction processes and documentation requirements.
• Their account opening procedure is easy and quick. You do not need to wait for document verification or visit the centres. The assistance is provided on call, and the account can be opened online.
• The company promotes mutual fund investment and delivery trading for investors.
• Their user-friendly interface is best for beginners who have just entered the Indian stock market and are keen to start investing their money.
• NRIs can only deal with delivery trading, as Intraday is prohibited.

When you start an Upstox account, you pay an initial fee of Rs.500. After that, you must pay Rs.500 annually as an annual maintenance charge (AMC) plus 18% GST, making it Rs.590.

This is for keeping your account active. While the starting fee might seem okay, knowing the Upstox NRI account AMC cost is essential.

People considering Upstox should compare these yearly charges with what the platform offers. Remember, if you use Upstox, you cannot avoid paying these fees.

You should know their brokerage charges before opening an NRI account with this broker. The charges for equity delivery for PIS and non-PIS are 200 INR.

The charges for equity futures and trades are 200 INR for every trade. The Upstox NRI account brokerage charges are transparent, so most NRIs prefer to work with them.

The commodity future & option and currency future & option are not currently available with the Upstox.

However, there is a drawback to the absence of intraday, but the charges offered for their listed products are reasonable as per their services.

How to open an Upstox NRI account?

Once you know the charges for opening an Upstox NRI account, you can proceed with the account opening procedure.

We have listed a step-by-step process so you can open your account with Upstox anytime. Have a look:

• Fill out your details in the form or hit the “open NRI account” tab at the bottom of the webpage.
• A form will open up; mention your details and submit.
• Upon submission, you will receive a call from the company executive shortly.
• They will guide you through the further procedure.
• Upon completing the procedure and verifying your documents, you will be provided an account number and other details.
• If you have any queries, then speak to the support team and will receive the requisite guidance.

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Here are the documents required to open the Upstox NRI account. It would help if you looked at these documents, as they are mandatory to open your account with Upstox:

• A duly filled and signed account opening form needs to be submitted.
• A photocopy of a PAN card is needed.
• NRI needs to submit their overseas address proof. They can submit documents like overseas passports, bank statements and driver’s licenses.
• Indian address proof is required, and the user can submit an Indian passport, driving license or Aadhar card. Any of the above-listed documents will be viable.
• NRE or NRO bank account cancelled cheque is mandatory.
• PIO or OCI card is mandatory.
• Passport and Visa is mandatory.

In this section, we have tried to list all possible documents that an NRI must submit.

However, there can be situations when some users are asked to present more documents to open their Upstox non-resident Indian account.

Upstox NRI Account: Top Features

Here is a quick review of the top features related to the Upstox NRI account for you. Have a look:

• Company offers a user-friendly platform that allows NRIs to manage all their investments in the country effectively. Their intuitive interface provides a seamless experience for experienced and new investors.
• The brokerage house also handles all the regulatory requirements directly related to the NRI investments. It includes the guidelines that the RBI and various other authorities state.
• This broker offers tools and resources for in-depth research and analytics, empowering NRI investors to make informed decisions. Access to market insights helps you stay updated on relevant information.
• Upstox provides dedicated customer support for NRIs, addressing queries and concerns related to the NRI trading account. This ensures that you receive assistance whenever needed.

Upstox exclusively offers the above-listed features to NRIs. They are constantly striving to provide the best services to NRIs so that they can find all financial-related products on a single platform.

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Upstox NRI Demat account ensures every user has the best facilities. The products provided by the broker range from Equity delivery to equity options and Equity futures.

Currently, they do not support currency and commodity options. But yes, mutual funds are included in their product deck.

Upstox’s product deck is quite comprehensive as per industry standards. They keep adding to their product, so every NRI should reach out to open an account and start trading with them.

The Upstox NRI Trading Account caters to international investors looking to invest in the Indian stock market.

It provides a comprehensive range of services, including demat (dematerialization), trading, futures & options (F&O), and initial public offerings (IPOs), making it an all-in-one solution for NRIs seeking reliable brokerage services in India.

The platform’s user-friendly interface ensures a seamless trading experience, while its diverse range of financial tools makes it an attractive choice for NRIs seeking a well-rounded trading experience.

However, most of these services are currently only accessible to local users, which may limit their availability to NRIs residing abroad.

Upstox NRI support is reliable, especially if the NRIs seek investment assistance.

They have a customer care team, you can contact them via phone 022-41792999 and email assistance at [email protected].

Whatever the issue, they are just a call or email from you. User-friendly website support ensures an easy online experience.

Additionally, Upstox offers support through social media platforms like Facebook, Twitter, and Telegram. You can quickly find the relevant links on the page for easy access.

The Upstox NRI App and Upstox NRI Trading Platform stand out for their user-friendliness, particularly for beginners.

The Android and iOS apps are effortless to navigate, whether using a smartphone or tablet, and the web platform is equally convenient for those who prefer managing investments on a larger screen.

What sets Upstox apart is that it’s not just a trading platform; it’s also an excellent choice for mutual fund investments.

With all necessary tools readily available through Upstox’s app or web platform, investors can easily access their portfolio and related services from anywhere.

Upstox’s mobility ensures that investors have complete control over their investments regardless of location.

Currently, Upstox is working on its research and advisory department. Now, they are offering fundamental and IPO reports to their users.

Upstox advisory for NRI will help make the right decision at the right time. However, the broker does not offer other reports like technical reports, stock tips, and robo advisory.

They are working on it, and we are sure they will shortly have a full-fledged section for offering quick tips and reports to the NRI investors.

Upstox NRI Charges

Knowing about Upstox’s hidden charges is essential before opening your account. With Upstox, everything is crystal clear, check them below:

• They charge 18% GST for transactions, brokerage and SEBI.
• The DP charges are 50 INR for every scrip on sale.
• SEBI’s turnover is 18.5 INR for every crore in all segments.
• Call and trade charges are 50 INR + 18%(tax) for every trade.
• They do not charge for reactivation and account closure. However, for dematerialization, the charge is 20 INR for every certificate.
• Also, the pledge invocation and creation charges with Upstox are 50 INR for every request.

The above-listed Upstox hidden charges for NRI will help you notify you of the charges deducted from your account.

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Upstox NRI Account Review: Conclusion

Upstox is one of the premium service providers in the industry. The broker provides various products & services needed by NRIs.

They also provide the requisite reports, and their charges are also minimal.

The NRI account provided by Upstox will help them make their investment in the Indian stock market and will offer a stable platform where they can keep all their money in a single account.

This Upstox NRI account review will help you learn about the platform and how to open your broker account easily.

FAQs on Upstox NRI Account Review

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

How do you convert Upstox’s account to NRI?

You must provide the organization with the requisite documents to convert your regular Demat account to NRI. You can find the complete details in the article.

What is AMC for NRIs in Upstox?

The AMC charges with the Upstox users is about INR 500 + 18%.

What is Account Opening Fees for NRIs in Upstox?

With Upstox, the account opening fee for an NRI account is 500 INR.

Which Assets are Restricted for Trading in Upstox for NRIs?

Non-resident Indians (NRIs) are subject to certain investment restrictions in India. They cannot trade in currency, commodity & Intraday trading of shares.

Can an NRI invest in a Mutual Fund in Upstox?

Yes, Upstox allows the NRIs to invest in their mutual funds. The user can help themselves and choose the Mutual fund they want to invest in.

What is the Brokerage for Upstox NRI?

The Upstox NRI brokerage for non-PIS and PIS is Rs.200 for every trade. For Equity’s future and option, the user must pay 200 INR for every trade.

Can Upstox’s NRI Account be opened online?

Yes, you can apply for an Upstox NRI account online. Hit the “Open NRI account” tab below. You will receive the required guidance shortly.

What is the Helpline Number for Upstox NRI?

The Upstox NRI helpline number is 022-41792999. Users can also contact them from any social media platform.

Which documents are required to open an Upstox NRI Account?

For opening NRI documents with Upstox, you need to provide the below-listed document:

• PAN card is mandatory
• Sign & Submit NRI Account Opening Form
• Address proof of Overseas and India
• Valid visa and passport