Benefits and services offered by opening a Demat Account with us:
- Zero Account Opening Charges
- ZERO RISK of loss or damage of physical papers
- Waiver on 1st year AMC. Preferential charges from 2nd year onwards for Managed customers
- Dematerialization / Rematerialization of Securities + Conversion / Redemption of Mutual Fund
- Enjoy benefits ofdigital Loan against shares/ mutual funds
- Invest in stocks, IPOs, bonds, and NCDs, via seamless online mode
- DP on Net -View Your Holding and Transaction details on Net-Banking
- Faster Instruction Processing (Transfer of securities) – Digital / Manual mode
- Corporate Benefits – Auto credit of dividends, auto credit of stock split etc
- Ease of trading & seamless investment with 3-in-1 account: Saving account, Demat account & Trading account
We open two types of non-resident account:
- NRE (Non Resident External) - Repatriable Demat Account
- NRO (Non Resident Ordinary) - Non Repatriable Demat Account
Please note the above said demat accounts will be opened basis the types of savings account held by customer and also linked to same savings account respectively
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|Can Non- residents open NRE / NRO Demat and Trading account with bank account?|
Yes, Non-residents Indian can open Demat and Trading account with our bank but they need to have similar bank account i.e. NRE savings account needs to be linked to NRE Demat account for all charges and transactions. Similarly NRO savings accounts can be linked only to NRO Demat account only.
NREPIS account to be linked with NRE trading account and NRO special securities account to be linked with NRO trading account
|I have a Resident Demat Account and currently I have been posted overseas for work. Do I need to open a new NRI Demat Account or I can continue with my existing Resident Account?|
As per section 6(5) of FEMA, NRIs can continue to hold the securities (on a non-repatriable basis) that they had purchased when they were resident Indians, even after they have become non-resident Indians.
Yes, once resident customer shifts abroad, firstly he needs to convert his existing savings bank account to NRO savings account. Thereafter he can convert his existing resident demat account status to NRO Demat account by filling a conversion form and submitting necessary documents. He needs to close existing resident trading account and open a new NRO trading account. Additionaly customer can even open NRE savings account, NREPIS account separately linked to NRE demat and trading account.
|What are the requirements for opening a NRI demat account with HDFC bank?|
Documents required for face to face Demat /HSL account are AOF, Photo, Copy of PAN Card, Valid Passport copy, Valid Visa copy, Valid OCI Card / PIO Card Copy, Extended KYC form. (If Passport is other than Indian Passport), Overseas Address proof. All documents must be self-attested in presence of bank staff and staff does to do the OSV stamp on all documents after originals are sighted.
|Can we open Non Face to Face non-resident NRE/NRO Demat and Trading account?|
Yes, for non-face to face accounts opening all the above mentioned documents are required but clients IPV column on AOF needs to be left 'BLANK' and all documents need to be attested by anyone of the following:- Notary Public, Any court of law, Magistrate. Judge, Local Banker with Bank Seal, Name, Designation, Employee Code of the Person doing attestation or lastly by Indian Embassy / Consulate General of the country.
|What is a Portfolio Investment Scheme (PIS) account and is it mandatory for NR to open it?|
It's not mandatory to open PIS account to open the demat account.
The standing instruction will be "NO" for the NRE demat account opened without NRE PIS account. A Non- Resident Indian (NRI) may acquire securities or units from a recognized Stock Exchange in India on repatriation basis under the Portfolio Investment Scheme(PIS), subject to the terms and conditions specified in Schedule " 3" of FEMA (Transfer or Issue of Security by a person Resident outside India). Hence an NRI intending to buy and sell shares / convertible debentures of an Indian company through a registered broker on a recognized stock exchange in India on repatriation basis(NRE), needs to open the NREPIS account. As per the process followed by the bank if an NRI intending to buy and sell shares / convertible debentures of an Indian company through a registered broker on a recognized stock exchange in India on Non- repatriation basis (NRO), needs to open the NRO special securities account along with the NRO savings bank account.
|Can US and Canada Citizens open Demat?|
Yes, US and Canada Citizens can open Demat account on separate AOF form fulfilling the below conditions:
- Customer to be present in India for account opening. Only Face to Face account opening will be allowed
- Indian address proof is mandatory for HSL communication and should be recorded on HSL account opening form
- Special designated 3 in 1 HSL trading form has been designed for US/CANADA based NRIs. Same should be used. (Regular HSL 3 in 1 not to be used)
- HDFC Securities cannot offer online platform to US and Canada based NRI Customer but customer can communicate and trade through HDFC Securities Relationship Manager
- Currently NO PROXY facility is available to operate HSL trading account
Link for US/ Canada citizens: https://www.hdfcsec.com/productpage/account-opening-for-nri-others
|How can I, as an NRI Demat Account holder with no representative in India get the address changed in my Demat Account without visiting branch personally?|
As customer is out of India (NRI) non face to face case client need to submit / dispatch the address modification along with copy of the self signed supporting ID and address proof documents to their RM / Home Branch / DP -CPU CPU.
Copies of the supporting ID and address proof documents should be "verified with original" by any one of the following entities viz; authorized officials of overseas branches of Schedule Commercial Banks registered in India, Notary Public, Court, Magistrate, Judge, Indian Embassy / Consulate General of the country where the client is residing
|Can an NRI be appointed as nominee?|
A resident Indian or an NRI can be a nominee, subject to exchange control regulations in force from time to time. Similarly, an NRI can nominate a resident Indian or another NRI as a nominee.
|If the Standing Instruction is “N” in an NRI Demat Account, then how can I get credit of shares allotted through Auto Corporate action without opting for a PIS Account?|
Corporate benefits may be in the form of rights, bonus, etc. These are automatically credited to the Demat Account if the Standing Instruction is “N” in NRI Demat account.
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