HDFC Securities NRI Account Review

HDFC Securities NRI Trading Account Charges

HDFC Securities NRI brokerage charges for trading in Equity and Equity Derivatives.

HDFC Securities Investment Options

The investment options available to an NRI at HDFC Securities.

HDFC Securities Key Features

HDFC Securities NRI Customer Care

HDFC Securities NRI Support Desk contact information. Find HDFC Securities NRI contact number.

1. 1. How to open HDFC NRI account?

   An NRI can open HDFC NRI account by taking the following steps-

   • Download HDFC NRI Account Opening Form PDFs from the company's website.
   • Take printouts of the forms, Fill it and put your signatures.
   • Attach 2 sets of documents self-attested by you and notarized by a competent authority along with the Account opening forms.
   • Submit in-person or courier the Account Opening Application Forms along with the required documents to the address provided in the form.

   For more details, please read the Account Opening section on this page.

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2. 2. How to close HDFC NRI 3-in-1 account?

   To close your HDFC 3-in-1 account, you need to-

   1. Take a print out of Investment Account Closure Form
   2. Fill and sign it.
   3. Attach a copy of your passport and ID.
   4. Send it to your branch office.

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3. 3. Can the US and Canada based NRIs open HDFC NRI 3-in-1 account?

   Yes, US and Canada based NRIs can open a Trading account on fulfilling the below conditions:

   1. Customer must be present in India for account opening. Only Face to Face account opening is allowed.
   2. Indian address proof is mandatory.
   3. They need to fill Special designated 3 in 1 trading form designed for US/CANADA based NRIs.
   4. Online trading services are not available for US and Canada based NRI Customers. However, they can place orders through HDFC Securities Relationship Manager.
   5. NO PROXY facility is available to operate HDFC NRI 3-in-1 trading account.

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4. 4. How to transfer money from NRO to NRE account in HDFC online?

   As per RBI guidelines, NRIs are allowed to transfer funds from NRO bank account to NRE account up to a total limit of USD 1 million per financial year. To transfer funds from NRO to NRE, an NRI needs to submit the following documents-

   1. A cheque or a letter for funds transfer from NRO to NRE account signed by the customer
   2. FEMA Declaration
   3. Documentary evidence of source of funds
   4. Form 15CB- It is a form certified by a CA about details of the payment, TDS rate and deductions as per section 195 of the Income Tax Act. It also certifies whether DTAA (Double Tax Avoidance Agreement) is applicable along with details of nature & purpose of the remittance.
   5. Form 15CA - This needs to be uploaded on the income tax website.

   Steps To Upload Form 15ca Online:

   1. Visit Income Tax India website.
   2. Click on the e-filling log in page. Enter your PAN as user ID and password
   3. After login, click on E file - Prepare and Submit Online Form (other than ITR)
   4. Select form type -15CA.The 15CA form is available in four parts -Part A, Part B, Part C, and Part D. Fill the applicable part, verify and submit.
   5. Now click on My Account and then on My Returns/Forms tab. It will show all the returns and Forms submitted by you.
   6. Click on the 15CA form and take a print out of the form along with acknowledgement Slip.
   7. Sign on the form and submit 2 copies to the Bank.

   Your transfer will be made after the bank processes your application.

   Note-

   • Certificate in Form 15CB is not required for transferring funds between Rs 50,000 (in a single transaction) and Rs 2,50,000 (total in a financial year). Only Form 15CA needs to be submitted in this case.
   • You need to have both NRO SAVINGS Bank and NRE SAVINGS Bank account with HDFC to transfer funds.
   • Customer should choose only one bank at a time to avail facility of USD 1 million.

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5. 5. What is HDFC 3 in 1 account for NRI charges?

   You need to pay 2 types of charges on NRI Trading account- Account Opening Charges and Brokerage Fees.

   HDFC NRI trading charges For Account Opening

   While opening HDFC NRI 3-in-1 account, the bank charges a one-time fee of Rs 2500 from NRIs. The bank also charges an one-time PIS approval issuance Fee of Rs 1,000.

   NRI demat account charges HDFC

   The HDFC NRI demat charge of Rs 750 is waived off for the first year. It will be applicable from next year.

   NRI brokerage charges HDFC

   The HDFC NRI demat and trading account charges are as follows:

   Security Type	Brokerage Rates
   Equity Delivery	0.75% or min Rs 25 or ceiling of 2.5% of the transaction value
   Equity Futures	Non-Square Off Trade: 0.05% or min Rs 25 or ceiling of 2.5% of the transaction value; Square Off Trades: 0.025% or min Rs 25 or ceiling of 2.5% of the transaction value
   Equity Options	Higher of 1% of the premium amount or Rs 100 per lot

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6. 6. Can NRI avail a loan against securities at HDFC?

   Yes, NRIs can take a loan against shares or other securities. However, the loan cannot be used for trading or investing. It should be utilized for meeting personal requirements or business purposes.

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7. 7. Can I open HDFC NRI account without visiting the bank branch?

   Yes, for opening HDFC 3-in-1 NRI trading accounts without visiting the bank, you need to keep IPV column on AOF 'BLANK' and all documents need to be attested by any one of the following: Notary Public, Any court of law, Magistrate. Judge, Local Banker with Bank Seal, Name, Designation, Employee Code of the Person doing attestation or lastly by Indian Embassy / Consulate General of the country.

   You need to download the forms, fill it and courier it along with 2 sets of copies of documents attested by authorities discussed above.

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8. 8. Can NRI with no Indian representative make changes in his HDFC account?

   Yes, you can make changes or corrections like change in the mobile number, address, email id etc., in your trading account without a branch visit. To make corrections, you need to send a letter along with copy of the self-signed supporting documents to their RM or Home Branch.

   The copies of the supporting proof documents should be 'verified with original' by anyone of the Notary Public, Court, Magistrate, Judge, authorized officials of overseas branches of Scheduled Commercial Banks registered in India, Indian Embassy / Consulate General of the country where the client is residing.

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9. 9. Can NRI open Demat account in HDFC?

   HDFC offers 3-in-1 account to NRIs which allows them to open trading, Demat, and Bank account with HDFC.

   An NRI can open an NRE (NRI Repatriable Demat Account)/NRO (NRI Non-Repatriable Demat account) as desired. The Demat account is opened at zero cost with no annual maintenance charges for the first year.

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10. 10. How to open a Demat account in HDFC for NRIs?

    HDFC Securities offers an online and offline account opening facility to NRIs. The online account opening facility is available for all NRIs except for NRIs based in USA and Canada.

    Steps for online NRI account opening with HDFC Securities:

    1. Download, fill, and sign the below forms:
       • NRE/NRO Savings Bank Account Form.
       • NRE/NRO PIS Bank Account Form.
       • NRI - HDFC securities 4 in 1 online Investment Account Form
    2. Attach the supporting documents.
    3. Send the form and documents over mail to nri.sales@hdfcsec.com or your Relationship Manager.
    4. The broker will verify the documents and open an account once the verification gets completed.

    Steps for offline NRI account opening for USA and Canada based customers:

    1. Download the HDFC Securities NRI Account Opening Form and PIS Form.
    2. Fill in the details.
    3. Attach the KYC documents required for account opening.
    4. Courier the form to your HDFC Bank Relationship Manager.

    Documents required for NRI account opening

    • Passport Size Photo
    • Copy of PAN Card
    • A copy of Passport
    • Copy of Visa
    • OCI Card / PIO Card Copy (in case of no Indian passport)
    • Civil ID /Resident Card / Permit Copy
    • Overseas Address Proof
    • Indian Address Proof (mandatory)
    • Income Proof (in case of Derivatives trading)

    Points to Note

    • In case of an online opening, you need to attach two copies of each document.
    • The physical presence of the USA and Canada-based NRI in India is mandatory at the time of account opening.
    • The USA and Canada-based NRI customers can trade through HDFC Securities Relationship Manager or Call and trade facility and not through digital modes.
    • The documents need to be attested by any one of the following:
    • Notary Public.
    • Any court of law.
    • Local Banker - Bank Seal; Name; Designation; Employee Code of the Officer doing attestation.
    • Indian Embassy / Consulate General of the country.

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11. 11. What is NRO account in HDFC?

    NRO account in HDFC is an NRI account to manage Indian income. Once an individual becomes an NRI, he/she cannot own a normal savings bank account in India and the existing account is required to be converted to NRO or open a new NRO account.

    An NRO account can be opened either as savings account, current account, term deposit or recurring deposit.

    NRO account documents HDFC:

    1. PAN Card or Form 60.
    2. Photograph - Latest passport size.
    3. Official Valid Documents (OVD):

    Proof of Identity

    • Indian Passport Holder - Photocopy of a valid Indian passport.
    • Foreign Passport Holder - Photocopy of a valid foreign passport.

    Proof of NRI/PIO Status

    • Indian Passport Holder - Photocopy of a valid visa (Employment, Residence, Student, Dependent, etc.) or Work/Residence Permit.
    • Foreign Passport Holder - Photocopy of OCI (Overseas Citizen of India) card/PIO (Person of Indian Origin) card/PIO Declaration, wherever applicable.

    Proof of Address (Indian or Overseas)

    • Valid Passport.
    • Driving License.
    • Aadhaar Card (Indian Address Proof).
    • Voter’s ID card (Indian Address Proof).
    • NREGA Job Card (Indian Address Proof).
    • Letter from the National Population Register with Name & Address details.
    • Documents from foreign jurisdictions (e.g., OCI/PIO Card, Work/Resident Permit, Social Security Card, Green Card, etc.) for foreign citizens with PIO/OCI cards.
    • Letter from a Foreign Embassy or Mission in India for foreign citizens with PIO/OCI cards.

    Applies as OVD:

    • Utility bill (electricity, telephone, postpaid cell phone, Piped Gas, Water) - not older than 2 months.
    • Property tax or Municipal Tax Receipt.
    • Pension or Family Pension Payment Orders (PPOs) with address details.
    • Letter of allotment of accommodation & Leave and License agreements from employer (State or Central Govt. departments, public sector undertakings, scheduled commercial banks, financial institutions, and listed companies).

    Attestation: All documents should be self- attested and attested by either of the following officials.

    • Authorized official of an overseas branch of an Indian Scheduled Commercial Bank.
    • Branches of overseas banks with relationships with any Indian bank.
    • Notary Public abroad.
    • Court Magistrate abroad.
    • Judge abroad.
    • Indian Embassy/Consulate General.

    Process to apply for HDFC NRO Account Offline

    1. Contact the HDFC Bank customer care number.
    2. Download the form and fill it out.
    3. Attach the documents mentioned above.
    4. You can send the form and documents via mail or post to the HDFC Bank branch.
    5. Once the HDFC team receives the documents they will process the account opening process.

    Process to apply for HDFC NRO Account Online:

    Here is the process for opening an NR account with HDFC Bank based on the provided image:

    1. Visit the HDFC Bank official website.
    2. Navigate to the NR account application form page.
    3. Fill in your personal details:
       • First Name
       • Last Name
       • Email ID
       • Current Country (select from the dropdown)
       • Mobile Number (including ISD code)
       • Alternate Phone Number (including ISD and area code)
    4. Indicate whether you are an existing customer or a new customer by selecting the appropriate option.
    5. Agree to the terms by checking the box stating "I agree that all details mentioned above are true to the best of my knowledge."
    6. Authorize HDFC Bank to contact you by checking the box that states "I authorize HDFC Bank to call me or SMS me to give product details."
    7. Enter the captcha code exactly as displayed in the provided field.
    8. Click the "Submit" button to complete your application.

    After submitting the form, you will receive further instructions from HDFC Bank regarding the next steps for account verification and activation.

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