Comment on Various Types of Accounts

hitesh commented on 24 Jan 2015, 01:01 AM

Hi Nitin,

I am NRI and I plan to open my mother’s DEMAT and Trading account with Zerodha as the services being offered to NRIs by any online broker leads to a lot of additional charges. Just to clarify, my mother still stays in India. I have a resident savings account with HDFC but I plan to close this because this is not allowed (6 months post you leave India and become an NRI). Now, while opening the account with Zerodha, in the bank account details section can I put my NRO account number while the DEMAT and Trading will belong to my mom. (I can put my mother’s bank details but it will be inconvenient). Also, It will be great if you can suggest a product for an NRI (DEMAT and Trading) that will help me save the additional costs. Also, is it that with an NRI trading account you cannot do intraday square off? Looking forward to your reply.

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