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Aditya Birla Money NRI Account Review


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Aditya Birla Capital Limited (ABCL) is a well-known financial services company offering trading, insurance, and mutual funds, etc. to non-resident Indians. Aditya Birla Money Ltd (ABML), a subsidiary of Aditya Birla Capital, offers stock broking services. The broker offers equity delivery, and F&O trading services to NRIs in BSE and NSE. It also offers Portfolio Management Services as a registered Portfolio Manager with SEBI.

Aditya Birla provides mobile, web and desktop-based trading platform to make trading easy for NRIs. Express Trade is the company's online desktop trading platform, Mobile Invest- the mobile trading app and ABTrade is a platform for trading analysis.

Aditya Birla has a dedicated research division that offers stock recommendations and investment insights based on fundamental and technical analysis to NRIs.

Mutual Fund Services to NRIs is offered by Aditya Birla Sun Life Mutual Fund, another subsidiary company AMC of ABCL.

Aditya Birla NRI Account

PAN Card

All investors, residents, and non-residents, investing in Indian stock markets are required to provide PAN numbers while opening trading and demat accounts. If you have a PAN number acquired when you were a resident Indian then you can use the same PAN as an NRI. In case you do not have a PAN card, you can apply online on NSDL and UTIITSL websites.

NRI Saving Bank Account

Aditya Birla doesn't offer banking facilities to the investors. NRIs have to open NRI bank accounts with other designated banks in India on their own and then link the bank accounts with ABML trading & demat accounts.

PIS Account:

NRIs have to request for PIS permission with the help of a bank where NRI has opened the NRE bank account. Portfolio Investment Scheme (PIS) allows NRIs to invest in the Indian stock market. PIS permission is required to invest in the equity delivery segment.

Custodial Account:

NRIs who want to invest in the equity derivatives segment have to open a custodial account. Clearing member provides CP (custodial participant) code which is necessary to trade and invest in the F&O segment.

Aditya Birla Trading Account

After opening the PIS account, NRIs have to open a trading account with Aditya Birla Money. A trading account is necessary to place a buy/sell request through the trading platform. Aditya Birla Money offers free trading platforms to trade online.

Aditya Birla Demat Account

Aditya Birla Money offers a Demat account to keep securities in dematerialized form. The broker offers a Demat account with a CDSL depository.

Key Features of Aditya Birla Demat Account:

  • Online access to Demat account
  • Transfer the securities quickly from the Demat account
  • Get dividends and interests automatically credited in the Demat linked NRI bank account
  • Keep stocks, mutual funds, bonds in the Demat account safely
  • Demat account application form is the same resident and non-resident Indians
  • Demat accounts can be opened on a repatriable or non-repatriable basis

Aditya Birla Trading Process

Aditya Birla offers an online trading facility for NRIs. After opening the NRI account, here is the process of trading with Aditya Birla Money.

Transfer Fund

Transfer funds from the NRI bank account to the PIS account. Based on the money transfer request, the NRI trading account is updated with the investment limit.

Place Buy/Sell Request

Place a buy request through the NRI trading platform. As the system gets the request, it checks the availability of funds in the PIS account. If everything is correct, the order is executed on the stock exchange.

Debit/Credit

As it is a buy request, the NRI bank account is debited with money, and the Demat account is credited with shares. In case of a sell order, the Demat account is debited with shares and the NRI bank account is credited with funds.

Contract Notes

At the end of the day, all the transactions are reported to RBI under the portfolio investment scheme. The broker sends contract notes for the buy and sell transactions separately. The contract notes details all your transaction for the day.


Aditya Birla Money NRI Trading Account Charges

Aditya Birla Money NRI brokerage charges for trading in Equity and Equity Derivatives.

TransactionFee
NRI Account Opening Charges₹750
NRI Account AMC₹450
Equity Delivery Brokerage
Equity Future Brokerage
Equity Options Brokerage
Other Charges

Aditya Birla Money NRI Trading Software Review

Aditya Birla offers 3 trading software for online trading-

  1. Express Trade- Online desktop trading platform
  2. Mobile Invest- Mobile Trading App
  3. ABTrade Platform- Tool for trading analysis

 

Aditya Birla Mobile Invest App

 


Aditya Birla Money Investment Options

The investment options available to an NRI at Aditya Birla Money.

Investment OptionStatus
StocksYes
Mutual FundsYes
IPOYes
Others

Aditya Birla Money NRI Account Opening Process

Here is the process of opening NRI account with Aditya Birla Capital:

  1. Open an NRI bank account with a designated bank in India.
  2. Get PIS permission with the help of the bank.
  3. Open a custodial account and obtain CP code.
  4. To open the NRI trading and Demat account with Aditya Birla, download the application form from the broker's website.
  5. Fill the form and take out the print.
  6. Paste the photographs wherever required.
  7. Attach photocopies of the documents.
  8. Send the application form along with the documents to the broker's office in India.
  9. Wait for In-person verification (IPV) by the representative assigned by the broker.
  10. After completing the document verification process, the broker will provide a trading account ID and password.

Note:

  • All the photocopies should be self-attested by the applicant.
  • Notarize the documents from a competent authority such as Indian Embassy/ Consulate General, Court, Magistrate, Judge, Notary Public, Indian scheduled bank branch in the country where NRI resides.
  • IPV is a compulsory process to open a Trading and a Demat account in India as directed by SEBI.
  • IPV is completed by the employees of Aditya Birla Capital in Indian or overseas branches.
  • Fill investor type as NRI and select basis as repatriable or non-repatriable while filing the form.
  • Attach the cheque for account opening and account maintenance charges with the broker.

Aditya Birla NRI Documents:

Here is the list of documents an NRI needs to attach for a Demat account and a trading account opening with Aditya Birla:

  • Copy of NRI bank account proof (cancelled cheque of NRI bank account)
  • Overseas address proof (bank statement/ leave & license agreement/ utility bills/ foreign passport/ driving license)
  • Indian address proof (optional)
  • Passport size photograph
  • Photocopy of PAN Card
  • PIS Permission letter
  • FEMA declaration form
  • FATCA declaration form
  • Declaration of P.O. box in the country where NRI resides
  • For NRIs with Indian passport- passport copy and valid visa copy
  • For NRIs with a foreign passport- passport copy and PIO/OCI card copy

Aditya Birla Money Key Features

FeatureStatus
3-in-1 AccountNo
Free Research and TipsNo
Automated TradingNo
Other Features

Aditya Birla Money NRI Mutual Fund

Aditya Birla Sun Life Mutual Fund (ABSLMF) is an asset management company. It offers in-house mutual fund products for residents as well as NRI investors. The broker has a wide range of mutual fund products to invest across equity, debt, hybrid and balanced securities.

Investors can choose any mutual fund based on their financial goals and invest through the Aditya Birla platform.


Aditya Birla Money NRI Customer Care

Aditya Birla Money NRI Support Desk contact information. Find Aditya Birla Money NRI contact number.

Aditya Birla Money NRI HelplineNumber
Aditya Birla Money NRI Customer Care Number18002707000
Aditya Birla Money NRI Customer Care Email ID

Aditya Birla Money NRI Trading Account Advantages

  • Part of Aditya Birla group, a financial services conglomerate
  • Provides a wide range of financial services under one roof
  • Offers research advice and stock recommendations

Aditya Birla Money NRI Trading Account Disadvantages

  • Doesn't offer a 3-in-1 account and separate account opening increases the paperwork.
  • Doesn't offer an IPO investment option.
  • Robo advisory facility is not available.

Conclusion

Aditya Birla Capital is a well-known name when it comes to financial services. However, when it comes to trading & investment services for NRIs it doesn't measure up to its reputation. The company doesn't have a major USP for NRIs. It doesn't offer 3-in-1 accounts. The choices in trading platforms are limited. There are many better options available in the market.


Frequently Asked Questions

  1. 1. What types of mutual funds are offered by Aditya Birla for NRIs?

    Aditya Birla offers mutual funds to NRIs across the world. However, the US and Canada based NRIs need to present in India to open the investment account before investing.

    Here are some of the mutual fund types available for NRIs:

    • Low cost index funds / ETFs
    • Large-cap funds
    • Multicap
    • Mid or small-cap
    • Hybrid
    • Thematic or sector funds
    • Liquid Funds
    • Debt Funds

    Discuss this question

  2. 2. How NRIs can buy/sell Aditya Birla mutual funds?

    To invest in mutual funds in India, NRIs must have an NRE/NRO account. Please make sure that you have your PAN card and KYC documents for verification. NRIs also have to complete FATCA and CRS declaration in place.

    NRIs can open an online mutual fund account online with Aditya Birla right away and buy mutual funds immediately.

    Similarly, NRIs can sell the mutual fund directly online. And, the money is automatically credited to the linked NRI account.

    Discuss this question

  3. 3. Can NRIs remit money from Aditya Birla Mutual Fund at any time?

    Yes, NRIs can redeem from the scheme and get the money back in the base country. The remit account depends on NRE and NRO accounts.

    In the case of the NRO account, NRIs can remit up to 1 million USD per financial year. When it is an NRE account, there is no such limit.

    Discuss this question

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Information on this page was last updated on Tuesday, November 26, 2019


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