Axis Bank, the 3rd largest private bank in India, offers a 4-in-1 account to NRI customers. This account is a combination of a PIS & Non-PIS Bank Account, Trading Account, and Demat Account.
Axis Bank has 10 international branch offices across the world to serve NRI customers. These branches are located across major cities around the world including London, Dubai, Singapore, and Shanghai. Axis bank does not have an office in the USA.
The Axis NRI 4 in 1 Account enables you to trade online in stock exchanges in India. An NRI customer can invest in Mutual Fund, Bond, NCD, FD, IPO, ETF and trade in Equity, Equity Derivatives (F&O) using this account. The account also gives you the convenience to trade online without worrying about settlement cycles, funds transfer from the bank to the trading account, and reporting to RBI, etc.
Note that online trading is not available to NRI's located in the USA.
Axis Bank offers trading and investment services to Non-resident Indian (NRI) investors through its subsidiary Axis Direct. The online broking and investment services are offered via its website axisdirect.in.
Axis Direct NRI brokerage charges for equity delivery is 0.75%, for equity Futures is 0.05% and for equity options, the rates are 1 paisa per lot for intraday and Rs 1o per lot on carry-forward positions.
Axis Direct trading software for NRI's includes; AxisDirect.com online trading website, Axis Direct Mobile trading app and DIRECTTrade desktop trading terminal.
Axis Bank NRI customers can also benefit from research recommendations and investment advice from top global research companies such as Reuters, The Screeners, and Recognia.
Axis Bank NRI 4-in-1 investment account is a key offering to NRIs. This account offers multiple online investment options in India under one login id. The 4-in-1 NRI account is the most convenient way to invest in stock markets and mutual funds in India.
Key Features of Axis 4-in-1 Trading Account
Axis 4-in-1 investment account consists of 4 different accounts:
All these accounts are linked together for seamless transactions among them. When an NRI buy shares through the trading account, money is withdrawn from the PIS bank Account and the shares are credited to the demat account. When they sell shares, the shares are debited from the demat account and money gets deposited in the PIS account.
The 4 in 1 account include 2 bank accounts; a PIS NRI Saving Bank Account and a Non-PIS Saving Bank Account.
The PIS Account is used for buy/sell of equity stocks in India. All transactions from this account are reported to RBI by the bank.
The Non-PIS Account is for trading in derivatives, investments in mutual funds, ETFs and holding income earned from rent, business and other incomes in India.
The NRI Demat accounts help you in keeping all bought securities like stocks, IPO shares, and mutual funds, etc., in electronic format. In a 4-in-1 account, the demat account is linked with an NRI bank account and NRI trading account.
Axis NRI Demat Account Review
The trading account enables NRI customers to place buy/sell orders for stocks and derivatives trades. Customer use trading software provided by the broker to place orders, monitor market on a real-time basis and check the status of orders placed.
The step-by-step AxisDirect NRI Trading process is as follows-
Use any of the trading software provided by Axis Direct to place an order.
The system will first check the availability of funds in your linked bank account before executing the order. Orders are now send to the exchange. Once order is executed, a confirmation is received by the client.
The funds are deducted from your bank account. The shares are credited in your demat account on T+2 days with T being the day of trading.
At the end of the day, all your transaction details will be forwarded to PIS authorities.
AxisDirect NRI brokerage charges for trading in Equity and Equity Derivatives.
Axis Direct offers the same trading platform to NRIs as well as resident customers.
The Good Till Date Orders (GTDt) and After Market Orders (AMO) makes it easy for NRIs to invest in stock market. NRIs can place buy/sell orders at any time.
Axis offers a range of online trading software and tools:
Axis Mobile App
The investment options available to an NRI at AxisDirect.
The Axis Direct NRI Account Opening Process is online, simple and fast.
Below is the list of Axis NRI account documents for an individual. An NRI has to submit notarized copies of all these documents.
Axis Direct offers mutual funds to NRI investors. You can invest in AxisDirect NRI mutual fund schemes by using the 4-in-1 trading account.
Key Features of Axis NRI Mutual Fund
Please read our article NRI Mutual Fund Investment Online in India to know in detail about NRI mutual fund investments regulations, taxation and top brokers offering mutual funds to NRIs.
AxisDirect NRI Support Desk contact information. Find AxisDirect NRI contact number.
AxisDirect is a good choice as a stock broker for NRIs looking to invest in stocks, derivatives, mutual funds and IPOs in India. The company offers 4-in-1 account and good trading software and investment tools to its customers. Also, the brokerage charges of the company are competitive among full-service brokers. Axis provides many customer-friendly features to NRIs like AMO orders, Call & Trade and Relationship Manager for quick assistance.