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Kotak Securities NRI Account 2024: A Complete Review

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Table of Contents

Kotak Securities NRI Savings Bank Account,

Kotak Securities Demat Bank Account,

Kotak NRI Trading Account (3-in-1 Trading Account),

Kotak Securities NRI Trading Platforms,

Kotak Securities NRI Customer Care,

Conclusion

Do you wish to open up an NRI Account with Kotak Securities? Kotak Securities is a full-service broker. It has a wide variety of services on offer for Non-Resident Indians or NRIs from the world over. These include ETF, IPO, Bonds, Mutual Funds, Equity Derivatives (F&O) and Equity. Keep in mind that the Kotak Securities NRI Account is a 3-in-1 account.

You can get a NRI Savings Bank Account, a Demat Account and a Trading Account. All three are combined together. This makes for a smooth investment experience. Know all about the Kotak Securities NRI Account 2024, and get a complete review of the same.

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Kotak Securities NRI Savings Bank Account

Kotak Securities provides Savings Bank accounts within its NRI 3-in-1 Trading account. It is facilitated by Kotak Mahindra Bank. The bank offers four types of accounts:

  1. NRE Rupee Savings Account (for repatriable transactions),
  2. NRE Platina Saving Account (for non-repatriable transactions),
  3. NRO Rupee Savings Account (for repatriable transactions), and
  4. NRO Platina Saving Account (for non-repatriable transactions).

Further, each NRI bank account is categorized as either a Portfolio Investment Scheme (PIS) or a Non-PIS account. The PIS is an RBI scheme enabling NRIs to trade in shares, mutual funds, bonds, and other securities on the Indian stock exchange.

Kotak Securities Demat Bank Account

Kotak Securities provides a Demat account service for NRIs. It lets you hold various securities electronically – such as stocks, IPO shares, and mutual funds.

As a depository participant with NSDL and CDSL, Kotak Securities offers demat account-related services to customers. As an NRI, you have the option to open two types of Demat accounts:

  1. NRE (Non-Resident External) Demat Account, which is repatriable, and
  2. NRO (Non-Resident Ordinary) Demat Account, which is non-repatriable.

The Kotak Securities Demat Bank Account offers a range of features, including:

Free online access to your demat account, a monthly AMC of Rs 75 and seamless transfer of securities. You can invest in stocks, IPOs, and Mutual Funds. There is automatic crediting of dividends and bonuses into linked bank accounts.

You also get the convenience of a 3-in-1 account for expedited trading. Notably, the account has consistent charges for both resident and non-resident Indian customers.

Kotak NRI Trading Account (3-in-1 Trading Account)

NRI customers can use the Kotak NRI trading account to trade in the stocks of listed companies as well as their derivatives (F&O) at the stock exchanges of NSE and BSE.

Kotak Securities NRI Trading Process

Kotak Securities extends online trading services to NRI investors, excluding those located in the US and Canada. The NRI trading process involves funding the PIS (NRE/NRO) account to enable stock purchases.

Once funded adequately, you can place buy orders through any Kotak trading platform. The system verifies the availability of funds in the linked PIS bank account. It executes the order if sufficient funds are present.

Upon placing a buy order, the PIS account is debited. Shares are credited to the Demat Account. Conversely, for sell orders, shares are debited from the Demat account. Funds are credited to the PIS account. At the end of each day, all transactions are reported to Kotak Bank in compliance with regulations, facilitating onward reporting to RBI.

Kotak Securities NRI Trading Account Charges

Kotak Securities imposes various charges for NRI trading in Equity and Equity Derivatives. The NRI account opening incurs a fee of ₹3750.

However, there is no annual maintenance charge (AMC) for the NRI account.

Brokerage charges for Equity Delivery, Equity Future, and Equity Options are all set at 1.00%. Also, an average quarterly balance of ₹10,000 is required. Other associated charges may apply.

Kotak Securities NRI 3-in-1 Trading Account Opening Process

The process of opening a Kotak NRI 3-in-1 account is straightforward and can be done in 3 ways.

  1. Firstly, you can fill out an enquiry form on the Kotak website.
  2. Alternatively, you can call the toll-free number in India for assistance with the account opening process.
  3. Another option is to visit a Kotak Securities branch office in person.

Kotak Securities NRI 3-in-1 Trading Account Opening: Documents Needed

To complete the account opening, certain documents are required, including:

  • A passport copy,
  • PIS permission (not necessary if the Kotak Mahindra bank form is filled),
  • Visa copy (for those with passports issued in India or a UAE work permit),
  • FATF declaration, and
  • Form 60 (for those without a PAN card).

Further, address proof documents must be provided. These include documents such as:

  • A recent electricity bill,
  • Driving license,
  • Bank passbook or statement for overseas address,
  • Latest telephone bill for overseas address,
  • Foreign/Indian government-issued card with address, and
  • Banker’s verification (from a scheduled commercial bank).

Kotak Securities NRI 3-in-1 Trading Account Features

The Kotak NRI 3-in-1 Trading Account offers a seamless online trading experience through its integrated account. Users can benefit from in-depth research services provided by an expert team and invest in various financial instruments such as IPOs, MFs, and fixed-income options.

The account provides free access to advanced online trading platforms and includes a portfolio tracker for quick snapshots of investment performance. Further, users can take advantage of features like Good Till Canceled (GTC) and After Market Orders (AMO), trade via phone, and stay informed with detailed news and real-time updates on the Indian markets, economy, and individual scrips through the Kotak Securities News Channel.

Kotak Securities NRI Trading Platforms

Kotak provides NRI customers with trading platforms identical to those available for resident Indians, offering a diverse range of online trading tools and software.

These include:

  • Stock Trader for mobile trading,
  • Kotak Securities website for online trading,
  • Smallcase,
  • KEAT Pro X for desktop trading,
  • Call & Trade, and
  • Chat to Trade.

Also, NRIs can utilize specialized trading tools such as TradeSmart Insights, TradeSmart Derivatives, and TradeSmart Trends.

Kotak Securities NRI Customer Care

Kotak Securities provides comprehensive assistance to NRI customers via email, WhatsApp, and phone. Each NRI customer is assigned a dedicated relationship manager for personalized support.

For inquiries, you can contact Kotak NRI customer care at 022-66896000 and 022-66529191 for phone assistance, or reach out through WhatsApp at +91 7738988888 and +91 7738788888.

Email support is also available at panjnani@kotak.com and nricustomerservice@kotak.com.

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Conclusion

A part of the Kotak Group and a subsidiary of Kotak Mahindra Bank, Kotak Securities is a full-service Indian stock broker that has a wide variety of investment and trading services on offer. With its NRI Account, you can be assured of getting some of the best brokerage services as a Non-Resident Indian.


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