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Zerodha NRI Account Review

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Invest without brokerage fees in Equity Delivery and Direct Mutual Funds. Pay a flat Rs 20 per trade for Intra-day and F&O. Open an instant account with Zerodha and start trading today.

Zerodha is a leading stock broker in India. The Bengaluru based stock broker offers online discount broking services to both resident and non-resident Indians (NRIs). Zerodha offers 2-in-1 accounts to NRIs which includes a trading and a demat account linked to each other.

Zerodha NRI Trading Account

Incorporated in 2010, Zerodha is the largest stock broker in India. Zerodha NRI services include:

  1. Zerodha NRI Trading Account
  2. Zerodha NRI Demat Account

The trading account allows a customer to buy and sell securities across BSE & NSE.

The demat account holds the securities in electronic format. Unlike most countries where securities stay with the broker, in India, the equity shares, mutual funds, ETFs, NCD, etc. securities are held in the demat account. These accounts are opened and mamanged by government mandated central depositories CSDL and NDSL. The role of the broker is limited to acting as an intermediary between the customer and central depository. The demat account offers a secure repository of securities similar to the bank account where we keep the money. Read NRI Demat Account Explained for more detail about Demat Account for NRIs.

Zerodha offers stock trading and investment services to NRIs in partnership with 3rd party companies including:

  • NRI Bank Account - HDFC Bank, IndusInd Bank, IDFC FIRST Bank and Axis Bank
  • Custodial Account - Orbis Financial Corporation Limited
  • Demat Account - Central Depository Services Limited (CDSL)

Note: The custodial account (CP Code) is required for trading in equity derivatives (F&O) segment.

Zerodha brokerage charges are:

  • Non-PIS Account: 0.5% or ₹100 per executed order for equity (whichever is lower).
  • PIS Account: 0.5% or ₹200 per executed order for equity (whichever is lower).

Zerodha offers a range of online trading applications for trading and analysis. Zerodha Kite is its flagship trading platform. It comes in the form of Mobile App and browser-based website for trading.

NRI can trade only in delivery-based stocks and derivatives. No intraday trading on stocks allowed. Currency and commodities trading is also not allowed to NRIs.

Zerodha doesn't offer Mutual Fund (MF) investment to NRI customers through its signature Zerodha Coin platform for MFs.

Zerodha NRI Demat Account

Zerodha offers NRI demat account through its CDSL membership.

Zerodha NRI Demat Account Highlights

  • Zerodha NRI demat account is same as demat for resident Indian.
  • The account opening application form is the same for resident and non-resident Indians.
  • At the time of account opening, an NRI customer has to choose account type as 'NRI' and subtype as 'Repatriable or Non-Repatriable'.
  • An NRI Bank Account (NRE or NRO) has to be linked with demat account. The dividend/interest is credited directly in this account.
  • An NRI Demat account can have another NRI or a resident India as the nominee.

Zerodha NRI Trading Process

Following is the step-by-step Zerodha NRI trading procedure for trading in Equity Delivery segment.

  1. Fund Allocation

    Transfer funds from NRE/NRO bank account to your PIS Bank Account. The bank informs Zerodha on how much funds you have allocated. This is then updated on the trading account as an available limit.

  2. Place Order

    Use trading software (i.e. Zerodha Kite Mobile App or website) and place to order to buy/sell shares.

  3. Fund Settlement

    At the end of the day, Zerodha sends a contact note to the bank. Based on the contract note, the bank debits fund from PIS account and credits it to Zerodha. When selling the stocks from demat, Zerodha sends a sell contract note to the bank. Zerodha also credits the PIS bank account with the proceeds from the sale. Note that two separate contract notes are sent to the bank at the end of the day; one for all buy transactions and another for all sell transactions.

  4. Stocks Settlement

    Zerodha credits the stock in the NRI demat account.

In case of sell, the stocks are debited from the NRI demat account and delivered to the buyer by Zerodha.

Zerodha NRI Trading Account Charges

Zerodha NRI brokerage charges for trading in Equity and Equity Derivatives.

NRI Account Opening Charges₹500
NRI Account AMC₹0
Equity Delivery Brokerage₹100 per trade (non-PIS), ₹200 per trade (PIS)
Equity Future Brokerage₹100 per trade (non-PIS), ₹200 per trade (PIS)
Equity Options Brokerage₹100 per trade (non-PIS), ₹200 per trade (PIS)
Other ChargesDemat Account AMC: ₹300 yearly

Zerodha NRI Trading Software Review

The trading platform offered to NRI's is same as it is offered to the resident account. Zerodha offers a range of online trading software and tools:

Zerodha also offers following paid add-ons to advance traders:

Zerodha Investment Options

The investment options available to an NRI at Zerodha.

Investment OptionStatus
Mutual FundsNo

Zerodha NRI Account Opening Process

Zerodha account opening process for NRIs is simple. However, online account opening for NRIs is not available with Zerodha.

For Zerodha NRI account opening, an NRI has to download a PDF account opening form, fill it, sign it and send it Zerodha's Bangalore office along with the necessary documents.

Note: Zerodha doesn't offer NRI 3-in-1 account as it doesn't have a banking license.

Zerodha NRI Account Opening Prerequisites

Before opening a trading and demat account with Zerodha, an NRI customer has to open the following accounts:

  1. NRI Bank Account (NRE or NRO Saving Bank Account)
  2. PIS Bank Account (NRE or NRO)
  3. Custodial Account (For derivatives trading)


  • Clients who have NRI bank accounts with HDFC Bank, IndusInd Bank, IDFC FIRST Bank and Axis Bank can only open NRI account with Zerodha. If you have PIS bank account with any other bank i.e. ICICI or SBI, you cannot open NRI account with Zerodha.
  • NRI customers who are only looking for trading in F&O's doesn't need PIS permission or PIS enabled saving bank account.
  • RBI has waived off the PIS requirement to trade through NRO mode, but currently Zerodha along with many other brokers has not yet allowed to trade without PIS in equity markets.

Zerodha NRI Account Opening Form PDF

Zerodha account opening form is the same for resident and non-resident Indians. Following are the steps for Zerodha NRI account opening form download:

  1. Visit
  2. Scroll down to the bottom of the page.
  3. Go to the 'Account' section.
  4. Click on the Download & Resources link.
  5. Go to the Application Forms section.
  6. Download PDF.

Note: Zerodha Account Opening Form PDF includes forms for both trading and demat account opening.

Zerodha NRI Documents

Below is the list of Zerodha NRI account documents for the individual. An NRI has to submit the notarized copy of all these documents.

Note that the copies of these supporting documents need to be notarized by Indian Embassy or any other competent authority like Consulate General / Notary Public / Any Court / Magistrate / Judge / Local Banker of the country where you are currently residing.

Zerodha NRI Account Opening Documents for Individual

  • PIS permission letter (provided by the bank whom with you have NRI bank account)
  • FEMA declaration
  • PAN card Copy
  • Overseas address proof (Driving License/Foreign Passport/Utility Bills/Bank Statement /Notarized copy of rent agreement/Leave & License agreement/ Sale Deed;)
  • Indian address Proof (optional)
  • Passport size photograph
  • For NRIs with Indian Passport: Copy of passport and valid visa
  • For NRIs with Foreign Passport: Copy of passport, PIO/OCI card
  • Proof of bank account (canceled cheque of NRE or NRO savings account)
  • Declaration of P.O. Boxin your residing country; and
  • FATCA Declaration Form.

How to open NRI account in Zerodha?

Zerodha doesn't offer online account opening to NRIs. The account should be opened by filling the paper forms.

10 steps to open a new account in Zerodha for NRIs.

  1. Open an NRI Bank Account with HDFC Bank or IndusInd Bank or IDFC FIRST Bank or Axis Bank.
  2. Get PIS permission from RBI (with the help from your bank).
  3. Open a custodial account with ORBIS and get CP Code (if plan to trade in F&O).
  4. Collect copies of supporting documents listed above.
  5. Notarized all supporting documents.
  6. Download the PDF Account Opening Form.
  7. Fill the application form.
  8. Scan the filled forms and supporting documents.
  9. Send them through email for verification to Zerodha NRI desk.
  10. If everything looks good, courier the documents to Zerodha Bangalore office.


  • It takes between 3 to 5 working days to open an account once documents are received.
  • You can open both NRE and NRO account with a bank. However, you can map only one of the accounts (NRE or NRO) with your Zerodha NRI Trading account.
  • Mapping your NRE account with the trading account will enable you to trade in the Equity segment whereas, by mapping an NRO account, you can trade in both Equity & Derivative segment. To map both the accounts, you need to open 2 trading accounts.
  • Currently, Zerodha supports only NRE or NRO accounts opened with HDFC Bank, Axis Bank, IndusInd Bank and IDFC FIRST Bank.
  • NRIs can trade only in equity and equity Futures & Options.
  • Zerodha doesn't offer NRI trading in intraday, currency and commodities.

Zerodha Key Features

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

Zerodha NRI Mutual Fund

Zerodha offers 'Coin', a Mutual Fund investment platform to its customer. But this platform is not available to NRI's. Zerodha NRI customers can invest in Mutual Funds through AMC's by providing them the Zerodha demat account while buying the Mutual Funds.

Zerodha doesn't offer Mutual Funds to NRI customers through its trading platform. As per Zerodha official statement:

This is because of the Foreign Account Tax Compliance Act (FATCA) that makes it compulsory for all financial institutions in the world to report to the US Government comprehensive details of all transactions involving US persons which includes NRI.

Zerodha NRI Customer Care

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

Zerodha NRI HelplineNumber
Zerodha NRI Customer Care Number+91 80 4718 1888
Zerodha NRI Customer Care Email

Zerodha NRI Trading Account Advantages

  1. Discount stock broker offer trading at a low brokerage charges. Zerodha charges Rs 200 per trade (PIS Account) and Rs 100 per trade (Non-PIS account) whereas full-service stock brokers charge on an average 0.75% of the order value. So, if you trade for Rs 1 lakh, you pay Rs 750 with a full-service stock broker whereas Zerodha will charge you Rs 200.
  2. India's largest stock broker in terms of active customers.
  3. Offers access to best-in-industry trading software and tools.
  4. Supports HDFC Bank, IndusInd Bank, IDFC FIRST Bank and Axis Bank NRI Bank Account.

Zerodha NRI Trading Account Disadvantages

  1. Doesn't offer 3-in-1 accounts. Only offer trading and demat accounts. So, you have to first transfer funds from your PIS account to Zerodha trading account before trading.
  2. Doesn't offer Mutual Funds to NRI customers.
  3. Doesn't provide research reports or analysis.


Zerodha comes across as a decent choice for NRIs looking to invest in stock markets in India and want to save on brokerage. The company offers best-in-the-industry trading platforms and tools. However, NRIs have to open bank accounts with HDFC Bank, IndusInd Bank, IDFC FIRST Bank and Axis Bank to open a Zerodha NRI account. It also doesn't offer mutual fund investment services to NRIs. It charges a low flat-fee brokerage which makes it an attractive choice for NRIs.

Zerodha Special Offer

Free stock trading and mutual funds

  • Free account opening for people under 25.
  • Brokerage-free share delivery trades and flat Rs 20 per trade for Intraday & F&O +
  • Brokerage-free Direct Mutual Fund investment + +
  • Trade with the best trading platform in India.

This is a limited time offer. Open an instant Zerodha account online and start trading today.

Frequently Asked Questions

  1. 1. Can NRI open demat account in Zerodha?

    Yes. Zerodha offers 2-in-1 account services to NRI which includes trading and a Demat account. Zerodha has membership with CDSL. An NRI can open an NRE (NRI Repatriable)/NRO (NRI Non-Repatriable Demat account) with Zerodha. You could reach out to Zerodha by submitting a callback request.



  2. 2. How to open NRI Demat Account in Zerodha?

    The NRI account opening process is a manual process where an NRI has to print and send the filled paper forms along with supporting documents to the Zerodha Bangalore office.

    Steps to open NRI Demat Account in Zerodha

    1. Fill online account opening form.
    2. Download prefilled PDF.
    3. Print and sign the forms.
    4. Attaché supporting documents listed below:
      1. Copy of PIS approval;
      2. Duly filled up FEMA Declaration;
      3. Copy of PAN card;
      4. Overseas address proof;
      5. Indian address proof, if any;
      6. Passport size photograph;
      7. Copy of valid passport and Copy of Valid Visa in case of Indian passport.
      8. Copy of Valid passport, Copy of PIO/OCI card in case of a foreign passport.
      9. Cancelled cheque leaf of NRE or NRO savings bank account
      10. Declaration of P.O. Box of the residing country; and
      11. FATCA Declaration Form
    5. Send forms and supporting documents to the Zerodha office.

    Note: The documents where copies are being submitted are required to be self-attested and notarized by the Indian embassy or any other competent authority.



Zerodha Account Opening Enquiry

Invest without brokerage fees in Equity Delivery and Direct Mutual Funds. Pay a flat Rs 20 per trade for Intra-day and F&O. Open an instant account with Zerodha and start trading today.

Read more about Zerodha

Information on this page was last updated on Tuesday, April 30, 2024

Special Offer: Invest without brokerage fees in Equity Delivery and Direct Mutual Funds. Pay a flat Rs 20 per trade for Intra-day and F&O. Open an instant account with Zerodha and start trading today.


1. Prashant Patel   I Like It. |Report Abuse|  Link|October 1, 2023 12:25:13 AMReply
Zerodha is the best broker for residential customers, but it is the worst broker for NRI Customers. Why? Because NRO account holder cannot trade F&O. For trading F&O you need to go with their HOPLESS, arrogant, stupid, custodian named, Orbis. I left working with Zerodha and opened account with Pro stocks who have better customer service than Zerodha with good trading platform. But they have world's worst back-office section you hardly find your account details. Zerodha back office Consol is far better than Pro Stocks useless back office.