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NRI FAQs
14 October 2016
Hits: 22248

NRE or NRO, Meaning, Benefits, Compare, Difference, which is better?

NRE or NRO or Both Account with ProStocks

ProStocks is Stock Broker, Depository Participant and Clearing Member for NRI Equity Futures and Options Trades. ProStocks will open your Trading as well as Demat Account. ProStocks can also get you CP Code required for trading in Equity Futures and Options.

Non-Resident Indian (NRI) Trading Account with repatriation benefit is called Non-Resident External (NRE) Trading Account and is required to buy and sell shares, securities, bonds, exchange-traded funds, mutual funds etc.

Non-Resident Indian (NRI) Trading Account without repatriation benefit is called Non-Resident ordinary (NRO)Trading Account and is required to buy and sell shares, securities, bonds, exchange-traded funds, mutual funds etc. and trade in Equity Futures and Options.

Non-Resident Indian (NRI) Demat (Depository Beneficiary) Account with repatriation benefit is called Non-Resident External (NRE) Demat Account and is required to electronically hold (in dematerialized format) shares, securities, bonds, exchange-traded funds, mutual funds etc.

Non-Resident Indian (NRI) Demat (Depository Beneficiary) Account without repatriation benefit is called Non-Resident ordinary (NRO) Demat Account and is required to electronically hold (in dematerialized format) shares, securities, bonds, exchange-traded funds, mutual funds etc.


NRI can open NRE Trading and Demat Account or NRO Trading and Demat Account or both, NRE as well as NRO Account.

Benefits of NRO Non PIS Account compared to NRO PIS Account

Sr.No

Difference

NRO PIS A/C

NRO Non PIS A/C

1

Banks

Only 4 Bank viz Axis, HDFC, Induslnd, Yes Bank

Any Bank out of more than 125 Banks in India

2

Time required

NRO PIS Bank A/C can take generally 4-5 days.

NRO Non PIS Bank account can be opened virtually in one day.

3

Segments allowed

Equity delivery

Equity Intraday, Equity delivery and Equity Futures and options (FNO)

4

AMC

AMC is to be paid to Bank for PIS A/C

No PIS Bank, hence no charges

5

Per contract charges

Bank charges on per contract for buy and sale

No PIS Bank, hence no charges

6

Convenience

Client needs to deal with broker for trades and PIS Bank for funds and Taxation

Clients will deal with Prostocks for their trades, funds and taxation.

NRE PIS Vs NRO Non-PIS Trading Account

Sr. No

Difference

NRE PIS Trading and Demat Account

NRO Non-PIS Trading and Demat Account

1.

Segment

Equity delivery

Equity Intraday, Equity delivery and Equity Futures and options (FNO)

2.

Order Type

Only Delivery

In Equity Intraday and Delivery, In FNO – intraday as well as short sales

3.

Bank A/C

NRE Savings and NRE PIS

NRO Savings

4.

Approved Banks

Only 4 Bank viz Axis, HDFC, Induslnd, Yes Bank

Any Bank out of more than 125 Banks in India

5.

Linked account

One NRE PIS A/C can be linked

More than 1 NRO Savings Bank A/C can be linked

6.

AMC

AMC is to be paid to Bank for PIS A/C

No PIS Bank, hence no charges

7.

Bank charges per contract note

Generally, PIS Bank will charge you anything between Rs 100 to Rs 500 per buy contract and per sale contract depending on the value and the bank.

No PIS Bank, hence no charges

8.

Convenience

Client needs to deal with broker for trades and PIS Bank for funds and Taxation.

Clients will deal with Prostocks for their trades, funds and taxation.

9.

Taxation

Subject to withholding tax for short term and long term capital gain.

Subject to withholding tax for short term , long term capital gain and business income.

10.

Repatriation

Freely repatriable

Repatriation subject to Form 15CA, CB

11.

Brokerage

Rs 100 per executed order

Rs 100 per executed order


You would have come to know the answer to the following question:

What is NRE Trading Account?

What is NRE Demat Account?

What is NRO Trading Account?

What is NRO Demat Account?

How does NRE PIS Bank Account operate?

How NRO PIS Account operated?

How NRO Invest Bank Account get operated?

Why NRI are not allowed Intraday Trading?

Can NRI do Intraday Trading in India?

Can USA NRI do Intraday Trade in India?

How NRI can do Intraday Trades in India?


Do I need Custodian Account to trade in futures and options or derivatives?

What is NRE/NRO Account and do I need NRE Account or NRO Account or both for NRI Trading with ProStocks?

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  • Team ProStocks

Comments (4)

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  • Guest - Amit Thaker

    about 6 years ago

    hi there,
    i am an australian citizen with indian OCI.
    wants to open Equity and derivatives trade account linked to my ICICI bank NRO account.
    Amit

    http://maps.google.com/maps?z=15&q=,
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  • Team ProStocks

    about 6 years ago

    Please send email to [email protected] to know further how you can do this

    http://maps.google.com/maps?z=15&q=,
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  • Guest - Manish

    about 6 years ago

    Hi, I have pins NRE, demat and trading account with Kotak. Can I open trading, demat account with prostocks and link my pins kotak and transfer share from kotak to prostocks? Thanks!

    http://maps.google.com/maps?z=15&q=,
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  • Guest - Rahul Kohinkar

    about 1 year ago

    Is BTST in F&O stocks allowed for NRI trading account?

    http://maps.google.com/maps?z=15&q=,
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