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NRI Demat Account

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NRI demat account is a demat account opened by an NRI, PIO & OCI cardholder. It holds securities (Stocks, Mutual Funds, Bonds, etc.) in electronic format.

The Demat Account holds securities (Stocks, Mutual Funds, Bonds, etc.) in electronic form. It works like a bank account but instead of money, it holds the securities.

NRI Demat account is a demat account opened by an NRI, PIO & OCI cardholder. It is similar to the resident demat account in terms of account opening process, transactions, charges and the way it is managed.

A Demat Account is mandatory in India for investing in India stock market. This applies to both Resident Indian as well as NRI. The demat account makes online investment/trading secure, easy and fast.

Read NRI Demat Account for in-depth detail of NRI Demat.

NRI Vs Resident Indian Demat Account


Resident Demat Account

NRI Demat Account

Demat Account Opening Fee



Demat Account Charges



Account Subtype



(Repatriable or Non-Repatriable)

Linked with Bank Account

Resident Saving Bank Account

NRE or NRO bank account based on the demat account subtype

Linked with Trading Account

Trading Account

NRI Trading Account

Role of Central Depositories & Stock Brokers

The demat accounts are opened with one of the two government-approved depositories, National Securities Depository Ltd (NSDL) and the Central Depository Services India Ltd (CDSL).

The stock brokers are the registered members of the depositories and play the role of an intermediary between the central depository and the customer. From a customer point of view, the broker offers the demat account. But in the backend, the depositories (CDSL or NSDL) hold the demat account and its holdings.

The NRI Demat Account must be linked with an NRO or NRE bank account. The earnings from securities like dividends and interest are auto-credited in the linked bank account.

NRI Demat Account and RBI Regulations

As per RBI guidelines, NRIs need to open two separate demat accounts for repatriable and non-repatriable investments.

For repatriable funds, you need to link your NRE bank account whereas for non-repatriable funds link your NRO bank account with the NRI demat account.

NRI Demat Account Key Facts

  • Demat account holds the securities in electronic form.
  • An NRI can open as many as demat account as they want.
  • NRI Demat Account can be opened with any stock broker like Zerodha, SBI CAP and Axis Direct, etc., who are the member of CDSL and NSDL.
  • NRIs don't need permission from RBI to open a demat account.
  • NRIs need to open two separate demat accounts for repatriable and non-repatriable investments.
  • NRI Demat Account must be linked with the NRI Bank Account (NRE or NRO) for auto-credit of dividends, bonuses, etc., earned from their investments.

Read articleNRI Demat Account for the detailed review of NRI Demat Accounts in India.

Answered on


  1. 1. What are NRI Demat Account charges?

    An NRI Demat account attracts fees & taxes similar to a resident demat account. Some key NRI demat account charges are:

    1. NRI Demat Account Opening Fee

      A one-time fee charged by the broker while opening an account.

    2. Annual Maintenance Charges (AMC)

      A yearly fee charged by the broker to maintain a demat account. This fee is charged irrespective of whether you have done transactions or are holding any securities in your demat account or not.

    3. Debit Transaction Charges

      A fee charged every time you sell shares and the shares are withdrawn from the demat account.

    4. Other Charges

      NRI demat account also attract charges like Pledge Fees and Fee for updating personal info i.e. address, phone number.

    5. Taxes

      All NRI Demat charges have GST of 18% on top of the actual charge.

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  2. 2. Can a US-based NRI open an NRI Demat Account in India?

    Yes, US-based NRIs are allowed to open demat account in India. An NRI Demat account can be opened by a Non-Resident Indian (NRI), Overseas Citizen of India (OCI) or Person of Indian Origin (PIO) living in any country abroad.

    The demat account is used to electronically hold the securities including shares, mutual funds, and bonds. It is similar to the bank account but instead of money, a stock market investor keeps shares in the demat account. Demat account offers a safe, fast and convenient way to hold securities for online transactions.

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  3. 3. Can an NRI have more than one demat accounts?

    Yes, an NRI can have as many demat accounts as he wants.

    Usually NRIs open 2 demat accounts; NRE Demat Account and NRO demat Account.

    The NRE Demat account is to buy/sell shares on repatriable basis. In case of an NRE Demat Account, both principal and dividend/interest are freely repatriable.

    The NRO Demat Account is to buy/sell on the non-repatriable basis or to hold securities which are bought as an Indian resident before becoming an NRI. In the case of NRO Demat Account, the principal is not repatriable. Dividend/interest is repatriable.

    Note that NRIs can open multiple of NRE or NRO demat accounts on the same name. But there is an annual maintenance cost (AMC) which customer has to pay irrespective to the use of the demat account.

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