HDFC Demat Account for NRI

HDFC Demat Account for NRI clients offered by HDFC securities is a 3 in 1 Demat Account. This is for the simple reason that HDFC Securities is a bank-based stockbroker and it can provide such a value proposition.

HDFC Demat Account for NRI Review

Here are some of the top features the HDFC Demat Account for NRI traders has to offer:

• There is a variety of trading platforms you can use for your trades. These applications include HDFC Securities trade (web-based), HDFC Securities Blink (terminal software), HDFC Securities App (mobile).
• You can invest in a range of trading products including IPO, Futures and Options, Equity, ETFs or Gold ETFs, Bonds, Mutual funds, Corporate Fixed Deposits.
• Your PIS account gets direct trade reports of your trades.
• AMO (After-Market Hours) allowed i.e. you can place buy or sell trades even after the Indian stock market has closed for the day.
• HDFC Securities research is known well for its fundamental reports.

At the same time, this needs to be known that HDFC Demat Account for NRI clients is not available to USA or Canada based NRIs. This is a specific condition imposed at the geographic level.

Furthermore, shares in an NRO Demat account cannot be transferred to an NRE Demat Account.

HDFC Demat Account for NRI Charges

HDFC Demat Account for NRI comes with its different set of charges.

• If you do not have an NRE/NRO bank account with HDFC Bank, you need to provide an initial account deposit cheque of ₹16,000. However, if you already hold such an account, this cheque is NOT required.
• One-time account opening charge of ₹2,500.
• One-time PIS approval issuance fee of ₹1,000.
• One-time Currency account opening charges of ₹250.
• Annual maintenance charges of PIS account of ₹1,000.
• HDFC Securities Annual maintenance charges of Demat account is nil for the first year and ₹750 from the second year.

All charges are exclusive of GST.

HDFC Demat Account for NRI – Brokerage

As far as the brokerage charges are concerned, HDFC Securities charges a specific percentage of your trade value as brokerage. There is a minimum brokerage charge per trade (₹25) established in case the turnover of the trade is relatively low.

Here are the details:

 

Apart from the brokerage and account related charges, there are other charges levied on your trades as well, including:

• GST (18% on brokerage)
• STT (varies from 0.01% to 0.1% depending on the trading segment)
• Stamp Duty (depends on your state)
• SEBI Turnover tax (0.00015%)
• Long-term capital gain on Equities is 10% while Short-term capital gain is in the range of 15%.

You can check HDFC Securities Brokerage calculator to know the complete details on different charges levied on your trades.

HDFC Demat Account for NRI Process

There is a set of procedures you need to follow in order to get started with trading through HDFC Securities as an NRI client.

These formalities include you to:

• Open NRE/NRO Savings bank account with HDFC Bank
• get a PIS permission letter through HDFC bank or a NOC from your existing bank
• Open a Demat Account with HDFC securities along with a trading account

In order to open the above-mentioned accounts with different entities, you need to provide the following documentation:

• 2 Passport-sized photographs
• PAN Card
• Passport with valid timelines and other details.
• Visa copy
• If you do not hold an Indian passport, you need to provide a valid OCI/PIO card
• Address proof of your overseas location

For more information, you can check this detailed review on NRI Demat Account checklist.

HDFC Demat Account for NRI Customer Care

The customer support team for HDFC Demat account for NRI clients is available from Monday till Saturday during the timelines of 9 am to 6 pm.

The customer support team is available through phone and email.

In case you are looking to get started with your HDFC Demat Account for NRI, let us assist you in taking the next steps forward:

 

If you are looking to know more about HDFC Securities, here are a few reference links:

 

Also Read:

If you wish to learn more about NRI Trading, here are a few references: