Go to Finvasia NRI site https://www.finvasia.com/nri
Click on “Open a Bank Account”
Follow the procedure —provide KYC details along with the attached documentation mentioned.
Submit the PIS letter given by your bank.
Once it’s done, follow the procedure to open a Demat and trading account.
Please note that the NRIs can choose either to open a bank account under the category of NRO — Non-Resident Ordinary or NRE — Non-Resident External. However, NRO allows trading in Equity F&O while NRE allows trading in Equity Delivery only. Therefore, if you wish to trade in both Equity Delivery and F&O, you need to open two accounts — NRO and NRE.
NRE accounts allow the user to repatriate an unlimited amount to India, while the NRO account limits up to USD 1 million/year after taxes.
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