AxisDirect NRI Account Review

Axis Bank, the 3rd largest private bank in India, offers a 4-in-1 account to NRI customers. This account is a combination of a PIS & Non-PIS Bank Account, Trading Account, and Demat Account.

Axis Bank has 10 international branch offices across the world to serve NRI customers. These branches are located across major cities around the world including London, Dubai, Singapore, and Shanghai. Axis bank does not have an office in the USA.

The Axis NRI 4 in 1 Account enables you to trade online in stock exchanges in India. An NRI customer can invest in Mutual Fund, Bond, NCD, FD, IPO, ETF and trade in Equity, Equity Derivatives (F&O) using this account. The account also gives you the convenience to trade online without worrying about settlement cycles, funds transfer from the bank to the trading account, and reporting to RBI, etc.

Note that online trading is not available to NRI's located in the USA.

Axis Bank offers trading and investment services to Non-resident Indian (NRI) investors through its subsidiary Axis Direct. The online broking and investment services are offered via its website axisdirect.in.

Axis Direct NRI brokerage charges for equity delivery is 0.75%, for equity Futures is 0.05% and for equity options, the rates are 1 paisa per lot for intraday and Rs 1o per lot on carry-forward positions.

Axis Direct trading software for NRI's includes; AxisDirect.com online trading website, Axis Direct Mobile trading app and DIRECTTrade desktop trading terminal.

Axis Bank NRI customers can also benefit from research recommendations and investment advice from top global research companies such as Reuters, The Screeners, and Recognia.

Axis NRI 4-in-1 Trading Account

Axis Bank NRI 4-in-1 investment account is a key offering to NRIs. This account offers multiple online investment options in India under one login id. The 4-in-1 NRI account is the most convenient way to invest in stock markets and mutual funds in India.

Key Features of Axis 4-in-1 Trading Account

• Integrated account for trading convenience.
• 100% online trading and investment.
• Trade online using advanced trading software and tools.
• Invest across stocks, equity derivatives, ETFs, IPOs, NCDs, and Mutual Funds.
• Free stock research and tips.
• Trade on phone with call n trade facility.

Axis 4-in-1 investment account consists of 4 different accounts:

1. NRI PIS Saving Bank Account (NRE or NRO)
2. NRI Non-PIS Saving Bank Account (NRE or NRO)
3. NRI Demat Account
4. NRI Trading Account

All these accounts are linked together for seamless transactions among them. When an NRI buy shares through the trading account, money is withdrawn from the PIS bank Account and the shares are credited to the demat account. When they sell shares, the shares are debited from the demat account and money gets deposited in the PIS account.

1. Axis NRI Bank Account

   The 4 in 1 account include 2 bank accounts; a PIS NRI Saving Bank Account and a Non-PIS Saving Bank Account.

   The PIS Account is used for buy/sell of equity stocks in India. All transactions from this account are reported to RBI by the bank.

   The Non-PIS Account is for trading in derivatives, investments in mutual funds, ETFs and holding income earned from rent, business and other incomes in India.

2. Axis NRI Demat Account

   The NRI Demat accounts help you in keeping all bought securities like stocks, IPO shares, and mutual funds, etc., in electronic format. In a 4-in-1 account, the demat account is linked with an NRI bank account and NRI trading account.

   Axis NRI Demat Account Review

   1. Axis bank is a depository participant of NSDL.
   2. The NRI demat account is the same as a resident demat account.
   3. An NRI has to choose the account subtype as Repatriable or Non-Repatriable.
   4. An NRE or NRO bank account has to be linked with the demat account.
   5. The dividend, interest or bonus earnings are credited automatically to the linked NRI bank account.
   6. Axis NRI Demat account is a safe way to keep your holdings.
   7. It is mandatory in India to have a demat account for stock market investments.
3. Axis NRI Trading Account

   The trading account enables NRI customers to place buy/sell orders for stocks and derivatives trades. Customer use trading software provided by the broker to place orders, monitor market on a real-time basis and check the status of orders placed.

Axis NRI Trading Process

The step-by-step AxisDirect NRI Trading process is as follows-

1. Placing an Order

   Use any of the trading software provided by Axis Direct to place an order.

2. Order Execution

   The system will first check the availability of funds in your linked bank account before executing the order. Orders are now send to the exchange. Once order is executed, a confirmation is received by the client.

3. Credit/Debit

   The funds are deducted from your bank account. The shares are credited in your demat account on T+2 days with T being the day of trading.

4. PIS Reporting

   At the end of the day, all your transaction details will be forwarded to PIS authorities.

AxisDirect NRI Trading Software Review

Axis Direct offers the same trading platform to NRIs as well as resident customers.

The Good Till Date Orders (GTDt) and After Market Orders (AMO) makes it easy for NRIs to invest in stock market. NRIs can place buy/sell orders at any time.

Axis offers a range of online trading software and tools:

1. AxisDirect Portal (Online Trading Website)
2. DIRECTTrade (Desktop Trading Application)
3. Swift Trade 3.0 (Web-based Trading platform)
4. Axis Direct Mobile App (Mobile Trading App)
5. Axis Direct Wise Advisor (Suite of Investment Tools)

Axis DirectTrade

Axis Mobile App

AxisDirect NRI Account Opening Process

The Axis Direct NRI Account Opening Process is online, simple and fast.

4 Steps to open Axis NRI Account

1. Fill an online NRI Account Application Form
2. Take a print of the application form and sign in the relevant spaces
3. Scan and upload the application form and attested supporting documents
4. Axis bank will verify the documents and arrange for all the documents to be collected once verification is successful.

Axis NRI Documents

Below is the list of Axis NRI account documents for an individual. An NRI has to submit notarized copies of all these documents.

1. Identity Proof - Valid Passport (Indian, in case of NRI) ) (Foreign, in case of PIO)
2. NRI Status Proof - Employment, Residence, Student etc.
3. Overseas Address Proof - Driving License, Utility Bills
4. Indian Address Proof - Indian Passport, Voter ID, Aadhar Card etc.
5. Signature Proof - Any official document containing signature.
6. Additional Proofs - Bank cheque
7. Photo - 2 passport size photos
8. PAN CARD with Photograph

Note:

• You can open both NRE and NRO accounts with a bank. However, you can link only one of the accounts (NRE or NRO) with your Axis NRI Trading account.
• Linking your NRE account with the NRI trading account will enable you to trade in the Equity segment. Linking an NRO account will allows you to trade in both the Equity & Derivative segments. To map both the accounts, you need to open 2 trading accounts.
• NRIs can trade only in equity and equity Futures & Options.
• Axis Direct doesn't offer NRI trading services in intraday, currency, and commodities.

AxisDirect NRI Mutual Fund

Axis Direct offers mutual funds to NRI investors. You can invest in AxisDirect NRI mutual fund schemes by using the 4-in-1 trading account.

Key Features of Axis NRI Mutual Fund

1. Transact in mutual funds online or over the phone.
2. Manage the mutual fund folio (account) directly or through PoA (Power of Attorney)
3. Choose from a wide range of AMCs and mutual fund schemes.
4. Expert assistance from a dedicated Relationship Manager.

Please read our article NRI Mutual Fund Investment Online in India to know in detail about NRI mutual fund investments regulations, taxation and top brokers offering mutual funds to NRIs.

AxisDirect NRI Trading Account Advantages

1. Offers 4-in-1 account for fast trading experience.
2. Offers online Mutual Fund, IPO and NCD services.
3. One-click Trade through Intelligent Order Entry Panel, a unique integrated order entry panel that informs you on your capital gains before placing the trade.
4. Access to Trade-Passport, a detachable and secure Order Entry Panel, enables trading while researching on any financial website.
5. Free trading and investment recommendations.
6. Assistance from Relationship Managers.
7. GTC and AMO orders.
8. A subsidiary of the reputed Axis Bank.

AxisDirect NRI Trading Account Disadvantages

1. The Axis brokerage plans are based on the trading value which makes it expensive over flat-fee brokerage charged by Zerodha, Tradeplus, etc.
2. Axis does not provide online trading facility to USA based NRI clients.

Conclusion

AxisDirect is a good choice as a stock broker for NRIs looking to invest in stocks, derivatives, mutual funds and IPOs in India. The company offers 4-in-1 account and good trading software and investment tools to its customers. Also, the brokerage charges of the company are competitive among full-service brokers. Axis provides many customer-friendly features to NRIs like AMO orders, Call & Trade and Relationship Manager for quick assistance.

Frequently Asked Questions

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Information on this page was last updated on Thursday, November 23, 2023