📢We have an update for NRIs.

ICICI Bank is now among our partner banks for opening an NRE–PIS account and linking it to your Zerodha NRI account, along with HDFC Bank, IndusInd Bank, IDFC FIRST Bank, Yes Bank, and Axis Bank.

What’s a PIS account?

PIS (Portfolio Investment Scheme) is a bank-managed account that allows NRIs to buy and sell listed shares in India. The partner bank obtains the RBI PIS permission and routes all trades through this account.

Why does this matter?

Under RBI rules, NRIs can invest in Indian equities only through either the PIS route or a Non-PIS route. The PIS setup is needed if you want to use funds from your NRE account to invest in equities.

At Zerodha, we provide both options

PIS: Funded through your NRE or NRO account. Proceeds are fully repatriable (transferable overseas). Requires an account with one of our partner banks.

Non-PIS: Funded through your NRO account. Proceeds are non-repatriable beyond $1 million per year. Available with any bank, and this route comes with fewer restrictions and lower costs.

Learn more: https://support.zerodha.com/category/account-opening/nri-account-opening/pis-non-pis/articles/difference-between-pis-and-non-pis

You can open your NRI trading and demat account online.