FREE Equity Delivery and MF
Flat ₹20/trade Intra-day/F&O
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Zerodha (Flat Rs 20 Per Trade)
Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account and start trading today.
NRI PIS and Non-PIS Bank Accounts are for NRIs and Person of Indian Origin (PIO) to invest in securities in India such as Equity Stocks, Mutual Funds, Bonds, IPOs, ETF etc.
PIS Account Meaning
Portfolio Investment Scheme (PIS) is a scheme for NRIs by RBI. It facilitates NRIs and Person of Indian Origin (PIO) to buy and sell shares on repatriation basis in Indian stock markt.
Key Points about PIS
Non-PIS Account Meaning
A Non-PIS account is an ordinary NRI savings bank account (NRE or NRO) opened with any bank in India. The transactions in this account are not reported to RBI. The NRO Non-PIS Account can be used to invest in Equity Shares, IPOs, Mutual Funds and Bonds on non-repatriation basis.
Feature | PIS Bank Account | Non-PIS Bank Account |
---|---|---|
Purpose |
To buy/sell equity shares on repatriation basis. |
To buy/sell equity shares and mutual funds on non-repatriation basis. |
Source of funds Basis |
Can be repatriable |
Can be repatriable or non-repatriable |
RBI Rules |
The secondary market transaction is reported to RBI. |
The secondary market transaction is not reported to RBI. |
Saving account |
NRE Savings Account |
NRE and NRO Savings Account |
Account Uses |
NRIs can buy shares in the secondary market on repatriation basis through this account. This account cannot be used to make any other payments. |
All the payment other than the secondary market investment on a repatriation basis is made through this account such as equity shares on a non-repatriation basis, MF, IPO, Bonds, and ESOP. |
Shares with resident status |
The shares purchased as a resident Indian needs to be transferred to a new demat account on a non-repatriation basis. |
The shares purchased with Indian residential status can be transacted through Non-PIS Account. |
FREE Intraday Trading (Eq, F&O)
Flat ₹20 Per Trade in F&O
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i started opening accounts at same time with zerodha and prostocks
Prostocks account opening was qucik less than two weeks but zerodha unprofessional customer service and response asked me send my paper attested documents from australia at my own expense after sending documents i waited month s then they told my signs don't match this that and there reponse time was very poor . And my account is still not opened with Zerodha
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