Some of the best trading options for NRIs in India are offered by Geojit NRI Trading Services. Being a leading retail financial services provider in India, many NRIs look toward Geojit when they consider investing in the Indian market.
For this reason, we will discuss at length everything you need to know about Geojit NRI trading. If you are an NRI who is curious about Trading options in India, you are going to find this guide very useful.
Geojit NRI Trading Account Opening
Opening a Geojit NRI Trading account is as simple as it is easy. You are only going to need these four specific documents:
Copy of PIS account. This account can be opened at any of the banks designated by the RBI.
A proof of the address of the NRI in the country of residence.
A photocopy of the valid visa.
A photocopy of the passport.
Furthermore, for citizens of India who reside in UAE, Bahrain, Saudi Arabia, Kuwait, or Oman, Geojit offers specialized services for trading in the Indian market. It acts as an intermediary and offers many products and services to the NRIs living in these countries.
When using Geojit NRI Trading services, a Non-resident Indian might have to keep various fees in mind that will be levied upon them. This fee includes:
There are no account opening charges charged by Geojit. Further, there are no dematerialization charges as well. However, a courier charge related to dematerialization will be charged at ₹35.
There is a rematerialization charge that is charged at ₹10 per 100 securities, or ₹10 per certificate, whichever turns out to be a higher amount. There are also courier charges that will cost you ₹35 per scrip.
There are no custody charges that are charged by Geojit.
For transactions that are done through Geojit: For debit transactions, the transaction charges are 0.02% of the transaction value. This is subjected to a minimum of Rs 15 and a maximum amount of ₹40 per transaction, in case the delivery is through POA/ easiest with DCN. If the delivery is by DIS or POA without DCN, the transaction fee is 0.03% of the transaction value. It is subjected to a minimum of ₹20 and a maximum of Rs 40 per transaction.
If there is a late delivery of slips (received on the payin day), it will be charged at ₹25 per transaction.
For transactions that are done through other brokers: The transaction fee is charged at 0.04% of the transaction value subjected to a minimum of ₹50 and a maximum of ₹100 per transaction.
For off-market trades: The transaction fee is 0.02% of the transaction value. It is subjected to a minimum of Rs 20 and a maximum or ₹40. However, one should have Geojit Demat account. If the receiving demat account is not with Geojit, the transaction fee is charged at 0.04%. It is subjected to a minimum of Rs 50 and a maximum of Rs 100 per transaction.
Geojit NRI Trading fee also includes the following pledge charges: For pledge creation, an amount of Rs 50 is charged per transaction. There are no pledge closure charges. However, there are a pledge invocation charges of Rs 100 per transaction.
For NRIs, there is also an Annual Maintenance Fee of ₹1600. However, for NRIs using electronic communication (DCN), the annual maintenance charges are ₹400. These charges are not applicable in the first Fiscal year.
There are certain other minor additional charges as well. For a printout of statements, a fee of ₹25 is charged per statement. There are also stamp charges that are involved while opening an account. If the charges are not paid before the due date, an interest of 18% post due date will be charged.
These are all the things that you as an NRI will need to know about Geojit NRI Trading. If there is anything that you wish to enquire, you can always ask your queries and we will be glad to respond to them!
In case you are looking to get started with stock market investments, let us assist you in taking the next steps ahead.
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More on Geojit
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