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Can I open NRI Bank Account with other bank and link it to NRI trading and Demat account with Yes Securities?

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NRIs need Trading, Demat and Bank Account to trade/invest in India. Technically all these 3 accounts can be opened with different organizations. But this results in operational challenges.

It is recommended to open all 3 or at least 2 accounts (trading and demat account) with one broker/bank.

The most convenient way is to open 3-in-1 account with a bank which includes all 3 accounts. These accounts are integrated well to offer a seamless trading experience to NRIs. But the brokerages charged by the 3-in-1 account are very high.

For frequent traders, it is recommended to open trading and demat account with a discount stock broker (i.e. Zerodha, ProStocks) and bank account with any bank (i.e. HDFC, ICICI). This reduces the cost of trading.



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