Anand Rathi NRI Account Review


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Anand Rathi provides a wide range of trading and investment services to the resident as well as NRI investors. It offers a 2-in-1 account, combining trading and demat accounts, for NRIs to trade in equity, equity derivatives, mutual funds, and IPOs, etc. The company also provides free call & trade facility and relationship managers to NRIs.

Anand Rathi provides several online trading platforms and tools to cater to the varied trading needs of the NRI traders. Tr@de X'pro is its installable desktop software for high-frequency traders whereas TradeMobi is its mobile trading app that offers useful features to trade on-the-move. It also offers 'AR Mutual Fund', a mobile app for Mutual Fund investors and Tr@de X'pro+, an innovative solution that gives investors access to investment services, trading advice, news and trading tools.

Anand Rathi has a wide branch network across 1200 locations in India as well as in international cities like Bangkok, Dubai, and Singapore. Anand Rathi has a dedicated NRI helpdesk and offers a hassle-free account opening process.


Anand Rathi NRI Account

Before opening an NRI account with Anand Rathi, an NRI needs the following:

1. PAN Card

To trade/invest in India, an NRI needs a PAN Card. An NRI can obtain the PAN Card by filling up Form 49AA online for allotment of permanent account number through the websites of UTIITSL and NSDL.

The PAN Card is issued by the Income Tax Department in India. It is the same for NRIs and Resident Indians. If you already have a PAN Number as resident Indian, you do not need a new PAN number.

2. NRI Saving Banks (SB) Account

Anand Rathi doesn't offer banking services which means you cannot open the NRI bank account with the broker. NRIs have to open an NRI bank account with a designated bank. Anand Rathi allows multiple banks to open an account and link the account with its trading and demat accounts.

3. PIS Permission

When you open the NRI bank account (NRE or NRO) with a bank, you also have to get the PIS permission from RBI to invest money in the Indian Stock Market. The PIS permission is linked to a specific NRI bank account. Once PIS permission is obtained on the bank account, it is called NRI PIS Bank Account.

The bank where you're opening the NRE and NRO bank account helps you get PIS permission too.

4. Custodial Account

NRIs have to open a custodial account and get a CP Code to trade and invest in equity futures and options. Indian Clearing Corporation Ltd (ICCL) works as a custodial for trade settlement on behalf of Anand Rathi.


Anand Rathi 2-in-1 Account

Anand Rathi offers 2 in 1 NRI account opening services including demat and trading account.

1. Anand Rathi NRI Demat Account

Demat account is necessary for NRIs to hold the securities (shares, mutual funds, bonds, and ETFs etc.) in electronic format. Anand Rathi is a depository participant (member) of CDSL and NSDL, the central depositories in India. While the demat accounts (and securities held in them) remain with CDSL/NSDL, Anand Rathi plays the role of intermediary between the NRI and the depository.

Highlights of Anand Rathi NRI Demat Account

  • Holds the securities in electronic format.
  • Saves securities from theft and damages.
  • Access and manage the account online.
  • Get alerts (SMS and Email) for debit and credit of securities.
  • Can open NRI demat account as a joint account with another NRI.
  • The account opening form is the same for both NRIs and resident Indians.

Note:

2. Anand Rathi NRI Trading Account.

NRI trading account is used to access NSE & BSE to place buy and sell. The Anand Rathi NRI Trading Account is linked with NRI Demat Account and NRI Bank Account.

Each investor has a separate login ID and password to access the account at any time. NRIs can use research tips, technical charts, and historical reports available on Anand Rathi online trading platforms in taking the investment decisions.


Anand Rathi NRI Trading Process

Anand Rathi offers a complete online solution for fast trading experience for non-resident Indian investors. NRIs have to open an NRI bank account with a designated bank and take PIS permission for trading in Indian stock market. Here are the steps for trading in equity delivery segment:

1. Preparing Funds

Deposit funds in the NRI PIS Bank Account which is linked to the trading account. Once funds are available, the bank informs the broker about this. The broker now increases the trading limits for the customer.

2. Place Buy/Sell Order

Log in to online trading account or call the trading desk to place buy or sell orders. The broker's risk management system (RMS) checks the availability of funds or shares in demat account, respectively.

3. Contract Notes

At the end of the day, the broker informs the bank in two separate contract notes for buy and sell orders.

3. Transaction Credit/Debit

Depending upon the order type, the demat account and bank account is debited or credited. If it is a buy order, the NRI bank account is debited with money and the Demat account is credited with shares. For sell orders, the NRI bank account is credited with money and the Demat account is debited with shares.

5. Reporting

The bank further informs the RBI on all the transactions done by the trader through the PIS bank account.


Anand Rathi NRI Trading Account Charges

Anand Rathi NRI brokerage charges for trading in Equity and Equity Derivatives.

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

Anand Rathi NRI Trading Software Review

Anand Rathi offers multiple online trading software to trade across equity, equity derivatives and mutual funds etc. The trading platforms offered by Anand Rathi include a mobile trading app, trading website, desktop trading terminal and mutual fund investment app.

  1. Trade Mobi (Mobile Trading Application)
  2. Trade X'Press+ (Web-based Trading Platform)
  3. Trade X'Pro (Desktop Trading Software)
  4. Anand Rathi Online MF (Mutual Fund App)
  5. Trade Lite (Light Web-based App)
  6. Trade X'Pro+ (Suite of Trading Tools)

 

 

Read Anand Rathi Trading Software Review to know in detail about the platforms.


Anand Rathi Investment Options

The investment options available to an NRI at Anand Rathi.

Investment OptionStatus
StocksYes
Mutual FundsYes
IPOYes
Others

Anand Rathi NRI Account Opening Process

Before opening an Anand Rathi NRI trading and demat account, you will need an NRI SB account and PIS account.

How to open an NRI account with Anand Rathi?

If you are in India, you can visit the nearby branch and get assistance from the team in opening the account.

If you are not in India, then follow these steps to open Anand Rathi NRI account:

Open NRI SB account.

  • Obtain PIS permission from RBI through designated bank branch in India.
  • Visit Anand Rathi's website.
  • Click on 'Quick Links' in the top right.
  • Click on 'Downloads' link
  • Download 'Account Opening Form'.
  • Fill the form and mention the details correctly.
  • Attach the self-attested documents with the form and send it to the local branch office in India.
  • After the broker has received the documents, a representative will contact you for in-person verification.

If IPV is not feasible, NRIs can complete the process by getting required documents attested by any competent authority/consulate general/ magistrate/ court or Indian Embassy in the residing company and sending it to the branch office in India.


Anand Rathi NRI Documents

To open an NRI 2-in-1 account with Anand Rathi, you will need the below-mentioned documents:

  • Photocopy of passport
  • Photocopy of valid visa
  • Passport size photograph (two)
  • PIS permission letter
  • Indian address proof, if applicable
  • Overseas Address proof- Utility Bills/ Driving License/ Bank Statement/ Foreign Passport/ Leave & License agreement/ Notarized copy of rent agreement/ Sale Deed

Note:

  • All the documents are required to be self-attested by NRIs.
  • After receiving documents correctly, the account will be opened in 3 to 5 working days.
  • NRIs can open both NRE or NRO types of accounts with the broker.
  • Anand Rathi NRI services are not available for intraday, commodity and currency trading.

Anand Rathi Key Features

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

Anand Rathi NRI Mutual Fund

Anand Rathi offers a mutual fund investment platform for both the NRIs and resident Indian investors. Investors can transact, redeem, switch and invest through the NRI mutual fund platform. NRIs can invest in Mutual Funds in two ways: either Lump Sum (one time) or through Systematic Investment Plan (SIP). They can also access their mutual fund portfolio and check the performance anytime.

 

 


Anand Rathi NRI Customer Care

Anand Rathi NRI Support Desk contact information. Find Anand Rathi NRI contact number.

Anand Rathi NRI HelplineNumber
Anand Rathi NRI Customer Care Number0291 666 1001
Anand Rathi NRI Customer Care Email IDnridesk@rathi.com

Anand Rathi NRI Trading Account Advantages

  • Wide range of online trading platforms
  • Offers research and recommendation tips.
  • Offers Relationship Manager assistance
  • Offers free call & trade facility for NRIs.
  • Can open PIS account with multiple banks.
  • Online Mutual Fund investment is available.

Anand Rathi NRI Trading Account Disadvantages

  • Charges brokerage in percentage which is higher than most of the discount brokers.
  • It only offers a 2-in-1 account which means NRIs have to open NRI SB and PIS accounts with other banks.
  • NRIs have to depend on ICCL (3-rd party custodial) for trade settlement. This increases the cost of trading.

Conclusion

Anand Rathi is a recommended choice for NRI investors who are ready to pay high brokerage for value-added services like good online trading software, online mutual fund services and research advisory etc. It is a full-service broker offering a wide range of services for NRIs and resident investors. They offer wealth management, advisory, investment, portfolio management, and insurance services. NRIs have to open the NRI SB account and custodial account with 3rd party before opening the NRI trading and demat account with the broker.


Frequently Asked Questions

  1. 1. Is it necessary to open a custodial account with Anand Rathi?

    If NRI is planning to trade in Equity Derivatives in India, it is necessary to open a custodial account with ICCL (Indian Clearing Corporation Limited) before trading with Anand Rathi. Anand Rathi is not a clearing member registered with the stock exchange. It has tied-up with ICCL for custodian services.

    If NRI just wants to invest in stocks (equity delivery), it doesn't require custodial account.

     

  2. 2. Can I open an NRI account with Anand Rathi without visiting the branch?

    Yes, you can open an NRI account with Anand Rathi without visiting the branch. You just have to send the application form along with the documents to the local branch of the broker. All the documents must be self-attested by the applicant and attested by a competent authority (a Notary Public/ Any court of law/ Magistrate/ Judge/ Local Banker/ Indian Embassy / Consulate General of the country).

     

  3. 3. Which types of Demat accounts are offered by Anand Rathi to NRIs?

    Anand Rathi offers two types of Demat accounts which are repatriable and non-repatriable demat accounts. They can transfer the funds in NRE account from India and abroad.

    It is also possible to transfer money from NRE account to NRO account. But, it is not reversible to transfer back into the NRE account from the NRO account.

     

  4. 4. How to close the trading account with Anand Rathi?

    Steps to close Anand Rathi trading account

    1. Download the closure request form from the official website
    2. Fill client code, demat ID, name, address, contact no., and reasons for closing the account.
    3. Submit the form to the designated branch.
    4. After verification done by the branch manager successfully, your account will be closed.

     

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Information on this page was last updated on Friday, February 6, 2015


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