HDFC Securities NRI Trading Account Review
HDFC Securities offers the most convenient way of handling stock market trading. The HDFC securities 3-in-1 account for NRI, which includes NRI saving Bank Account, NRI Trading Account, and NRI Demat Account is the key offering for NRI investors.
It provides an extremely simple and efficient way to invest in the stock market and other financial instruments via convenient– interlinked Demat, Savings, and Broking account, here Instead of transferring monies to a broker's pool or towards deposits, you can manage your own Demat and bank accounts when you trade through HDFC Securities.
As an NRI Investor if you open HDFC Securities 3- in- 1 account, you would not need to worry about monitoring the settlement cycles, transfer funds from bank to trading account, etc. You can also access a wide variety of products such as equities, derivatives, mutual funds, IPOs, ETFs.
Please note that HDFC doesn't offer 3-in-1 NRI Account or online trading to NRIs located in USA and Canada.
HDFC Securities NRI brokerage charges for Equity delivery trades is 0.75% or min Rs. 25 or ceiling of 2.5% on transaction value (Both Buy & Sell), 0.05% or min Rs.25/- or ceiling of 2.5% of transaction value (Both Buy & Sell) for Equity Futures trades and Higher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell) for Equity Options trading.
HDFC Securities NRI Trading Account Advantage & Disadvantage
- 3-in-1 online trading account.
- Security of your investment & money.
- 24/7 customer service & dedicated relationship manager.
- Easy-to-use website.
- Derivatives trading, mutual funds, IPOs and online life insurance.
- Offers AMO and GTC order facility.
- Very High brokerage.
- Does not offer online trading to the USA and Canada-based NRIs.
- Charges for trading terminal usage.
- Minimum brokerage charges.
HDFC Securities NRI Account Opening
Below steps needs to be followed to open NRI Trading & Demat account in HDFC Securities.
How to open HDFC NRI Trading Account?
Visit HDFC Bank Branch: If you are in India then one of the easiest ways to open an NRI account is by visiting HDFC Bank Branch.
HDFC Click2Talk facility is a free doorstep service for NRIs who want to open HDFC Bank accounts. Once you fill the inquiry form, you will receive a call in 3 hours.
Following are the steps to open an NRI account with HDFC Securities:
- Download and take a printout of these 3 HDFC NRI Account Opening Form PDF-
- Fill the forms and put your signatures. If you wish to open a joint account then all account holders must sign on it.
- Attach 2 sets of documents self-attested by you along with the Account opening forms. Here's the HDFC NRI Documents list-
- Photos
- PAN Card
- Valid Passport
- Valid Visa
- Valid OCI Card / PIO Card
- Overseas Address Proof
The above documents need to be attested by a Notary Public, Any court of law, Magistrate, Judge, Local Banker - Bank Seal; Name; Designation; Employee Code of the Officer doing attestation, Indian Embassy / Consulate General of the country.
The HDFC Account Opening Application Forms along with the required documents must be submitted or couriered to the address provided in the form.
Note-
- Rs. 16000/- amounting Cheque should be crossed A/c Payee & drawn payable to "HDFC Bank Ltd. A/c __________(Customer Name)". ( If you already have HDFC NRE/NRO Saving Bank Account, Cheque is not required).
- NRIs can trade-in the Derivative (Futures & Options) segment through NRO account only.
- You can open both NRE and NRO accounts with HDFC bank. However, you can map only one of the accounts (NRE or NRO) with your HDFC NRI Trading account.
- Mapping your NRE account with an HDFC trading account will allow you to trade in the Equity segment whereas, by linking an NRO account, you can trade in both Equity & Derivative segments. You need to open 2 accounts to map both the bank accounts.
- NRIs are allowed to trade only in equity and equity Futures & Options.
- Intraday, currency and commodities trading is not allowed for NRIs.
HDFC Securities NRI Trading Account Opening charges:
- Account Opening Charges for Trading Account (One Time): Rs 2,500/-.
- PIS Approval Issuance Fee (One Time): Rs 1,000/-
- Annual Maintenance Charges: PIS (Portfolio Investment Scheme) Account: Rs 1,000/-
- Demat Account Maintenance Charges is waived only for 1st year, from the second year onwards it will be charged as Rs.750/- per annum.
HDFC Securities NRI Brokerage Charges, HDFC Securities NRI Charges
| Segment | Brokerage Charges |
|---|---|
| Equity Delivery | 0.75% or min Rs. 25 or ceiling of 2.5% on transaction value (Both Buy & Sell) |
| Equity Intraday | Not Allowed |
| Equity Future | 0.05% or min Rs.25/- or ceiling of 2.5% of the transaction value (Both Buy & Sell) |
| Equity Options | Higher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell) |
| Currency Future | Not Allowed |
| Currency Options | Not Allowed |
| Commodity | Not Allowed |
HDFC Securities Customer Care: HDFC Securities NRI Help Desk contact number
- • HDFC Securities NRI Customer Care Number: +91 2267 6061 61
Final Thought about HDFC Securities NRI Services
HDFC Securities is highly recommended, convenient and popular among the NRI investors who want to invest in the Indian stock market and mutual funds but the downside is HDFC Securities does not provide an online 3-in-1 account facility to US & Canada customers and charges very high brokerage vs its peers.
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