Where to open NRI Demat Account?

An NRI can open a Demat Account with any stock broker in India who offers NRI services. Most stock broker and banks offer NRI Demat Account. This includes:

• Bank (NRI 3-in-1 Account) - ICICI, HDFC, Kotak, SBI, Axis Bank
• Full-Service Broker - Sharekhan, IIFL, Motilal Oswal, Geojit, Edelweiss
• Discount Stock Broker - Zerodha, ProStocks. Tradeplus

Visit NRI Demat Account Detail for more detail.

Demat Account is an online account to hold securities (i.e. Stock, Mutual Fund, NCD, Bonds) in electronic format. Demat Account is opened with one of the two depositories (CDSL and NSDL) through a depository participant (usually stock brokers).

Note that for trading / investing in the stock market an NRI needs 4 accounts:

1. PIS NRE Bank Account - For investing in Stocks on repatriation basis
2. Non-PIS NRO Bank Account - For investing in IPO, Mutual Funds, ESOPs on non-repatriation basis
3. NRI Trading Account - To trade in the stock market.
4. NRI Demat Account - To hold securities in electronic format

NRI 3-in-1 Account, which includes bank, trading and demat account is the most convenient way to invest in India. Most large banks in India offer this account. They offer seamless online trading experience but at a higher brokerage charge.