Religare NRI Account Review


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Religare Broking offers trading and investment services to NRIs. It offers NRI Trading and NRI Demat Accounts. This 2-in-1 account provides NRIs with access to BSE & NSE to trade across Equities, Equity Derivatives, IPOs, and Mutual Funds.

Religareonline.com is the flagship online investment portal of the company. The website offers online trading and many useful tools like e-contract notes, research & advisory, stock screener, stock comparison, calculators and portfolio tracking system.

Religare has a dedicated support team to assist NRIs in account opening, account updates, fund allocation, trading support and advisory. Religare also offers PAN Card services to NRIs.

The company also has a dedicated research team that regularly publishes incisive reports on stocks, markets, and economies to help customers make informed trading decisions.


Religare NRI Account

To start investing in the Indian stock market, an NRI must have:

  1. NRI Bank Account (with PIS permission)
  2. NRI Custodian Account (for F&O Trading)
  3. NRI Trading Account
  4. NRI Demat Account

1. NRI Saving Banks (SB) Accounts

Religare Online doesn't offer banking services. NRIs have to open NRE or NRO Bank Account with a designated bank. Further, with the help of the bank, the NRIs can obtain PIS permission from RBI for investing in Indian Stock Markets.

2. Custodian Account

Religare online is a clearing member registered with SEBI. It works as a custodian for the transaction placed through the Religare Online platform. If you are interested in trading in Equity Derivatives (F&O), Religare can get a CP Code for you, which is required for F&O trading.

3. Religare NRI Trading Account

Religare, through its membership with BSE and NSE, offers trading account to NRI investors. The trading account is required to buy and sell securities from stock exchanges.

Note:
  • The trading account provides access to a range of online trading software for fast and convenient trading.
  • The trading account is linked with the Demat Account and NRE PIS Bank Account or NRO Bank Account to make the online trading seamless.
  • It offers a single platform to invest in stocks, mutual funds, derivatives, and IPO segments.
  • Access to research reports

4. Religare Online NRI Demat Account

Religare offers Demat Account to NRI customers through its depository participant (membership) with central depositories i.e. NSDL and CDSL. The Demat account holds securities in electronic format and is a must for trading in Indian stock markets.

Note:
  • A Demat account holds the securities in digitized form.
  • Demat account is the same for the resident and non-resident Indian investors.
  • Religare demat account opening form is the same for NRI and resident investors.
  • NRIs can open Demat account as a joint account with another NRI.
  • The dividend and bonus earned are directly credited to the linked bank account.
  • Online access and management of demat accounts
  • Alerts & notifications on credit/debit of securities

Religare NRI Trading Process

NRI online trading with Religare is simple. Once you open a 2-in-1 account with Religare and link your NRI bank account, you can trade following these steps:

1. Fund Allocation

Transfer funds to your PIS Bank Account. The bank informs Religare on how much funds you have allocated and accordingly your trading account is updated as an available limit.

2. Place a Buy or Sell Request

When the NRI places buy or sell order, the system will check the availability of funds for a buy order or shares in the respective accounts for the sell order. If everything is alright, the order is executed on the stock exchange.

3. Debit and Credit

If it's a buy order, the NRI Bank Account is debited and the NRI Demat account is credited with shares. For sell orders, the NRI Demat account is debited with shares and the NRI Bank Account is credited with the money.

4. Reporting

The broker sends separate buy and sell contract notes to the bank at the end of the day. The bank further reports those transactions to RBI.


Religare NRI Trading Account Charges

Religare 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 ChargesODIN Diet: ₹999 per year

Religare NRI Trading Software Review

Religare offers free web and mobile-based trading software to NRIs. The platforms provide several useful trading features like advanced portfolio tracker, live market watch, stock screener, technical analysis tools etc.

  1. Religare Online (Trading Website)
  2. Dynami (Mobile trading app)

Dynami - Religare Mobile Trading App

Religare Mobile Trading App

Religare Investment Options

The investment options available to an NRI at Religare.

Investment OptionStatus
StocksYes
Mutual FundsYes
IPOYes
Others

Religare NRI Account Opening Process

Religare is a full-service broker offering Trading and Demat Account to NRIs. Before opening the account with Religare, an NRI needs:

  1. PAN Card
  2. NRI Bank Account (NRE/NRO PIS Account)

PAN Card can be obtained by filling up Form 49AA online through the websites of UTIITSL and NSDL. After submission, a 15 digit acknowledgment number is generated, which needs to be sent to the designated address along with the supporting documents.

Once PAN Number and PIS Bank Account are established, an NRI can open following 2 accounts with Religare:

  1. Religare NRI Trading Account
  2. Religare NRI Demat Account

Steps to open NRI account with Religare

  1. Visit Religareonline.com website
  2. Go to 'Support' > 'Download' page
  3. Download 'Account Opening Form - RBL'
  4. Fill the application form and put the signatures.
  5. Attach photocopies of the required document attested by a notary public of the residing country.
  6. Send the form to the Religare Noida office.

Note:

  • The Religare NRI account prerequisite is PAN card and NRE/NRO Bank Account.
  • It takes 3 to 5 working days to open NRI Account with Religare after receiving the form.
  • NRIs are not allowed for currency, intraday and commodity trading.
  • Mapping of Religate Trading and NRE account will allow NRIs to invest in equity delivery. Whereas, by mapping of NRO account with Religare trading account, they can trade and invest in mutual funds and derivatives segment.
  • NRIs do not need PIS permission to trade and invest in Equity Derivatives and Mutual Fund.

Religare Key Features

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

Religare NRI Mutual Fund

Religare offers online Mutual Fund investment to NRI customers. NRIs can choose from 5000+ MFs offered by 30+ AMCs.

Religare also provides tools like Portfolio Tracker for easy tracking of investments across the segments including MFs.

Religare Mutual Fund Research & Advisory services also provide Personalized Mutual Fund Research Reports to NRIs.

Key Features:

  • Buy, sell and redeem funds online
  • Track the performance online at any time.
  • Get investment tips from the research team
  • Choose from multiple schemes from fund houses
  • Option to invest one time and through SIP.
  • Systematic Withdrawal Plan (SWP) is also available.

Learn more about NRI Mutual Fund Investment.


Religare NRI Customer Care

Religare NRI Support Desk contact information. Find Religare NRI contact number.

Religare NRI HelplineNumber
Religare NRI Customer Care Number0120 6130300
Religare NRI Customer Care Email IDwecare@religareonline.com

Religare NRI Trading Account Advantages

  • Dedicated NRI Invest team and relationship managers to all NRIs.
  • Free research, recommendation and trading tips to NRIs.
  • NRIs can hedge the portfolio risk using futures and options trading facility.
  • Offers Mutual Fund services to NRIs

Religare NRI Trading Account Disadvantages

  • Brokerage charges are higher in comparison to discount brokers like Zerodha, Tradejini , and Prostocks.
  • Religare doesn't offer automated trading to the investors.
  • Doesn't offer 3-in-1 accounts which means more paperwork for NRIs in opening bank accounts & PIS separately. Also, funds need to be transferred to the PIS enabled bank account before trading.

Conclusion

Religare Broking Ltd is a good choice for NRIs who wants trading assistance as well as access to research reports to gain market insights. It has a dedicated research team that publishes incisive research reports to keep you updated on the latest trends in the economy and markets. It also offers good trading platforms with useful features like multiple stock tracking, instant order execution, and real-time streaming of quotes.


Religare Special Offer

Free Trading + Demat Account

Religare offer FREE Trading + Demat Account. In addition you get ₹0 AMC on Demat Account for 1st year.

This is a limited time offer. Simply leave your contact information with us and Religare representatives will contact you.

Frequently Asked Questions

  1. 1. Can an NRI open a Religare account without a PAN card?

    No, an NRI should have a PAN number to open an NRI account with Religare. The company offers PAN card services to NRIs. An NRI who doesn't have a PAN card can contact the broker and an advisor at Religare will contact you to assist you in getting a PAN card.

     

  2. 2. What is the prerequisite for an NRI account with Religare Online?

    NRIs would need a PAN Card and NRI Bank Accounts (PIS) before opening an NRI 2-in-1 account with Religare. Religare offers assistance in getting PAN cards, bank accounts and PIS permission. Contact their customer support and the company's advisors will help you in opening the various accounts.

     

  3. 3. What all investment products are offered by Religare to NRIs?

    NRIs can invest in following products with Religare:

    • Equity Shares of BSE/NSE listed companies
    • Equity Futures and Options
    • Mutual Funds
    • Initial Public Offerings (IPO's)

     

  4. 4. Which type of NRI Bank Account is required for NRIs to trade with Religare?

    There are 2 types of bank accounts for NRI:

    1. NRE Account (Non-Resident External Account) - Balances held in NRE accounts can be repatriated abroad freely. Any Investments done out of funds from NRE account can be freely withdrawn by the client into foreign currency outside the country.
    2. NRO Account (Non Resident Ordinary Account) - Balances held in NRO account cannot be remitted abroad but is permitted to be used only for local payments in rupees

    NRE/NRO Bank Account Subtypes:

    1. PIS (Portfolio Investment Scheme) Account - A PIS account is must as per RBI regulations for investment in equity/debentures on repatriation basis.
    2. Savings Account - Normal NRI bank account like savings, current account etc. - can be used for any other purpose.

     

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Information on this page was last updated on Tuesday, October 1, 2019


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