Investing in Indian financial markets is no longer a complicated process for NRIs. Whether it is investing in equities, mutual funds or bonds, opening a reliable and top Demat account is all you need to invest securely and manage your investments. With the introduction of Demat online platforms, monitoring your portfolios and making timely decisions from another country has become more convenient than ever before.
Here’s an article that explores the features and benefits of opening the Demat accounts of NRIs, steps to open an account and factors to consider when opting for the right app.
What is a Demat Account?
A Demat or a Dematerialised account is a digital account that holds investors various financial securities, including shares, mutual funds, debts and IPOs, all at one place. This has eventually eliminated the need to go through long processes and manage lengthy paperwork, saving users time and effort in visiting physical offices. The right Demat account helps an NRI investor to manage and track their investments in India directly.
There are two types of NRI Demat Accounts:
- Repatriable Demat Account: This account allows funds to be easily transferred in and out of India, as it is linked to an NRE (Non-Resident External) bank account.
- Non-Repatriable Demat Account: This account ensures that the funds deposited or gained must remain within India and cannot be transferred. It is linked to an NRO (Non-Resident Ordinary) bank account.
Features of NRI Demat Accounts
Let’s explore some of the features of top Demat accounts for NRIs:
- Global Accessibility: This account allows NRIs to track and manage their portfolios from anywhere in the world, provides market updates, and ensures seamless trading.
- Demat Account Opening: With the right platform, the process of opening a Demat account is straightforward and can be done online from the comfort of your home.
- Dividend and Interest: It allows NRIs to receive the returns on investments in their respective accounts without any hassle.
- Wide Range of Investment Options: The Demat apps allow NRIs to diversify their portfolios and invest in different types of financial securities.
Benefits of Demat Accounts for NRIs
Here’s why having a Demat account is beneficial for NRIs:
- They are equipped with advanced security features to protect your financial and personal information.
- Demat accounts simplify the process and make investing and trading easier.
- Eliminates the need to go through lengthy paperwork, saving your valuable time and effort.
- It allows investors to diversify their portfolios right on one platform, which reduces the risk and earns you maximum returns.
- Top Demat accounts maintain transparency and provide real-time market updates, helping you make the right investment decisions.
Steps to Open an NRI Demat Account
Follow the below-mentioned steps to open an NRI Demat account:
- Download a trusted Demat online application from reliable sources.
- Register by providing the required information and fill out the account form by providing the correct details.
- Upload your documents and wait for them to get verified along with your KYC.
- Once your account is verified, you can explore different options and start trading.
Choosing the Right Demat App
Before making a final decision, make sure you consider these factors while opting for a Demat app:
- Look for an app with a user-friendly interface to make the navigation easier.
- Check the account maintenance, brokerage, and other associated charges to see if they suit your needs.
- Choose a platform that has responsive customer service available to assist you in different time zones.
- Make sure the app is equipped with safety features to keep your data protected.
Conclusion
An NRI Demat account opens doors for global investors to start their Indian investment journey without any hassle. You just need to use a trustworthy, user-friendly and secure Demat apps like Bajaj Finserv to open your Demat account conveniently. The platform charges zero opening fee, provides research reports, has a dedicated NRI helpdesk and is a one-stop platform with a range of investment options.
It’s time to make your investments smartly and fulfil your financial goals, no matter where you are.