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ICICI Bank offers trading and investment opportunities in India stock market to NRIs through ICICI NRI 3-in-1 account. It is a combination of an NRI saving bank account, an NRI Demat, and an NRI trading account.
The ICICI 3 in 1 Account for NRI enables you to trade online in BSE & NSE without the worry to monitor the settlement cycles, transfer funds from bank to trading account, etc. It offers a range of services including online investment in Equity, Derivatives (F&O), Mutual Fund, Bond, NCD, FD, IPO, and ETF.
ICICI Bank offers trading and investment services to Non-resident Indian (NRI) customers through its subsidiary ICICI Securities. The online trading and services are offered via its flagship website ICICIDirect.com.
ICICIdirect NRI brokerage charges range from 0.50% to 1.25% for Equity Delivery trades, from o.03% to 0.05% for Equity Futures trades and flat Rs 70 to Rs 95 for Equity Options trading. The ICICI NRI trading account charges vary by the total trade volume of the customer.
ICICI Securities offers a range of online trading software to its customers. This includes ICICIDirect.com website, ICICIdirect Mobile Trading App and Trade Racer, an installable trading terminal.
ICICI also offers online mutual funds to NRIs. Investors can choose from a range of schemes and invest without the hassles of any paperwork.
ICICI NRI 3 in 1 Account
To invest in India Stock Market or Mutual funds in India an NRI has to open ICICI NRI 3-in-1 Account.
ICICIdirect 3-in-1 Online Trading Account Features
- Integrated NRI 3-in-1 account for seamless trading experience.
- Online trading facility with advanced trading platforms and tools.
- Access to a wide choice of investments including stocks, derivatives, mutual funds, and IPOs.
- Flexibility to invest through repatriable and non-repatriable funds.
- Open both PIS (Portfolio Investment Scheme) and non-PIS trading account.
This combo account includes:
- ICICI NRI Bank Accounts (PIS or Non-PIS)
- ICICI NRI Trading Account (NRE or NRO)
- ICICI NRI Demat Account (NRE or NRO)
1. ICICI NRI Account Types (Bank Account)
ICICI Bank offers 2 type NRI account types:
- NRE Bank Account (For transactions on the repatriable basis)
- NRO Bank Account (For transactions on the non-repatriablebasis)
Visit NRE Vs NRO Bank Account for the detailed comparison of NRI Bank Accounts.
In addition, each NRI bank account is tagged as PIS or Non-PIS account. PIS (Portfolio Investment Scheme) is an RBI scheme through which NRIs and PIOs can buy and sell shares, mutual funds, bonds, etc in India stock exchange.
Note that
- PIS permission is required for NRIs to buy and sell stocks in India.
- Non-PIS account can be used to sell IPO shares and shares bought when the NRI was Indian Resident. The Non-PIS account can also be used for investing in Mutual Funds and trading in equity derivatives (F&O) on non-repatriable
2. ICICIDirect NRI Trading Account
NRI Trading Account allows customers to buy/sell stocks, bonds, NCD, ETF, etc from a stock exchange like BSE and NSE. The trading account is required if you are planning to invest/trade in India Stock Market.
The ICICI Securities NRI Trading Account can be accessed by visiting ICICIDirect.com or using ICICIdirect Mobile App on Android or Apple phones.
The ICICI trading account charges for NRIs (i.e. AMC, Brokerage) are different for resident Indian trading account. In most cases, the NRI charges are 5 to 10 times higher because of the lengthy trade settlement process and tough compliance.
3. ICICIDirect NRI Demat Account
ICICI Bank offers NRI demat account through its membership with NSDL and CDSL. A demat account is mandatory to invest/trade in India Stock Market. It's an online account which holds the securities you bought in electronic format. The demat account is a secure way to keep your stocks, mutual funds, ETF, Bonds, etc.
The ICICI Securities NRI Demat Account can be accessed from ICICIDirect.com, ICICIdirect Mobile App or by login directly on NSDL or CDSL website.
ICICI NRI Demat Services Review
- ICICIDirect NRI demat account is same as demat account for resident Indians.
- The demat charges and demat account opening application form is also the same too.
- While opening an NRI demat account, the customer has to choose the account subtype as Repatriable or Non-Repatriable.
- An NRE or NRO bank has to be linked with a demat account based on the subtype.
- The dividend, interest or bonus earned are credited to the linked bank account.
- NRI demat account can be opened jointly with another NRI.
- Online account management.
- SMS facility to check your Holdings, Transactions, Bill & ISIN details.
- Mobile alerts for all debits/credits from your NRI Demat Account.
ICICI NRI Trade Process
ICICI offers a completely online and fast trading experience to NRI investors. Once your 3-in-1 account is opened, the step-by-step ICICIDirect NRI trading procedure for trading in Equity Delivery segment is as follows:
- Placing an Order
Login to ICICIDirect.com and place a buy or a sell order online. ICICI's system will check the funds and shares available in your bank and the demat account. If everything is alright then your order will be executed on the exchange.
- Debit/Credit
Depending on whether it is a buy or sell order, your linked NRI bank account, and linked NRI demat account is automatically credited or debited.
- Reporting
The transaction is automatically reported by ICICI Securities to ICICI Bank for onward reporting to RBI, as per the Regulations.
ICICIdirect NRI Trading Account Charges
ICICIdirect NRI brokerage charges for trading in Equity and Equity Derivatives.
| Transaction | Fee |
|---|---|
| NRI Account Opening Charges | ₹4000 |
| NRI Account AMC | ₹0 |
| Equity Delivery Brokerage | 0.50% - 1.25% |
| Equity Future Brokerage | 0.03% - 0.05% |
| Equity Options Brokerage | ₹70 to ₹95 |
| Other Charges |
ICICIdirect NRI Trading Software Review
The trading platform offered by ICICI Securities is the same for resident Indians as well as NRIs.
Availability of Good Till Canceled (GTC, GTD or VTD) and After Market Order (AMO) order types make ICICIDirect most favorite trading portal for NRI's.
ICICIDirect offers 3 trading software:
- ICICIDirect.com
- ICICIdirect Mobile App
- Trade Racer (Installable Trading Terminal)
Read ICICI online trading software review for more detail.
ICICIDirect.com Website
ICICIDirect Mobile App
ICICI Trade Racer
ICICIdirect Investment Options
The investment options available to an NRI at ICICIdirect.
| Investment Option | Status |
|---|---|
| Stocks | Yes |
| Mutual Funds | Yes |
| IPO | Yes |
| Others | ETF, Corporate Bonds, NCD, FD, Insurance |
ICICIdirect NRI Account Opening Process
To trade/invest with ICICI, An NRI has to open a 3-in-1 NRI account.
How to open NRI 3 in 1 account with ICICIDirect?
ICICIDirect offers a number of ways to open an account based on the country where you reside. Below are a few popular ways to open an account with ICICI:
Online Account Opening
ICICI bank offers online account opening to US based NRIs. The paperless account opening is not available in any other country.
An NRI from the US can open an NRI bank account in just 2 days. Below are the steps to open paperless NRI bank account with ICICI:
- Fill up the Online Application Form Online and select the United States in the country of residence.
- Fill up all the required fields and accept the online terms and conditions.
- Upload the scanned images of photograph and signature in the pre-defined format and the required documents in the designated slots.
In case of any clarification required, an email is sent to the customer and also an ICICI representative gets in touch with you.
Print PDF Forms
- Register on company's website icicidirect.com > Apply Online > Non-Resident Account.
- On successful registration, you will get an email with an ICICIDirect NRI account application form PDF attached to it.
- Take a printout and fill the application form.
- Attach all required documents.
- Send it to the company address provided on the form.
Visit ICICI Branches Abroad
ICICI Securities has its offices in Oman, Bahrain, Abudhabi, and Dubai. You can visit any of the nearest ICICI Securities Center or ICICI Bank branch and get assistance on opening an NRI 3-in-1 account. You can also hand over your completed Account Opening form at these branches.
Visit ICICI Branch in India
One of the preferred ways to open an NRI 3-in-1 account is visiting the ICICI branch when you are visiting India. This process is easy and convenient.
Note:
- You can map only one of the accounts (NRE or NRO) with your ICICI NRI Trading account.
- Linking your NRE account with the trading account will enable you to trade in the Equity segment whereas, with an NRO account, you can trade in both Equity & Derivative segment. You need to open 2 trading accounts to map both accounts.
- NRIs can trade only in stocks and equity Futures & Options.
- CICIDirect doesn't offer NRI trading in intraday, currency, and commodities.
ICICI NRI Account Documents
You need to provide the following documents to open an NRI account with ICICI:
- Copy of Passport
- Copy of Valid Visa
- Address Proof
- Colour Photographs
- Copy of PAN Card
All the required documents need to be self-attested and to be attested by the Indian Embassy or any other competent authority like Consulate General / Notary Public / Any Court / Magistrate / Judge / Local Banker of the country where you are currently residing.
Please note that in case you do not have a PAN card, ICICI offers free assistance in applying for a PAN number.
ICICIdirect Key Features
| Feature | Status |
|---|---|
| 3-in-1 Account | Yes |
| Free Research and Tips | Yes |
| Automated Trading | No |
| Other Features |
ICICIdirect NRI Mutual Fund
ICICIdirect offers online investment services in Mutual funds. The process is hassle-free and paperless for ICICI NRI 3-in-1 account holders.
Key Features of ICICIDirect NRI Mutual Fund
- Online Mutual Fund investment requires NRI 3 in 1 account.
- Invest in funds without filling lengthy application forms or any other paperwork.
- No signatures or documents required for investing as the process is totally online.
- Bank funds are automatically debited/credited while simultaneously crediting or debiting your units in the demat account.
- For NRE bank accounts, debit certificate is submitted automatically to the Mutual Fund to enable subsequent repatriation of sale proceeds.
- Online order confirmations and order status tracking.
- Monitor the performance of your funds online.
ICICIdirect NRI Customer Care
ICICIdirect NRI Support Desk contact information. Find ICICIdirect NRI contact number.
| ICICIdirect NRI Helpline | Number |
|---|---|
| ICICIdirect NRI Customer Care Number | +91-22-28307780 |
| ICICIdirect NRI Customer Care Email ID | nri@icicidirect.com |
ICICIdirect NRI Trading Account Advantages
- India's leading stockbroker. Part of the prestigious ICICI group, a financial services conglomerate.
- ICICI 3-in-1 NRI Account offers the easiest online trading experience.
- It offers an online trading facility with automatic fund transfer and PIS reporting.
- Invest online in Mutual Fund, NCD, FD, IPO, etc.
- GTC (or GTD, VTD) and AMO order types are available for placing orders in non-trading hours.
- It has a very stable trading platform.
ICICIdirect NRI Trading Account Disadvantages
- While ICICI trading platform gets the job done, it is very old trading software with poor user experience in comparison to the next generation online brokers like Zerodha, upstox, and 5paisa.
- The equity delivery brokerage is higher in comparison to discount brokers like Zerodha. With ICICI, a buy order or Rs 1 lakhs will cost Rs 1250 (1.25%) in brokerage. The same order at Zerodha cost Rs 200 in brokerage.
- NRIs from the UK (United Kingdom) cannot invest in IPO and Mutual Fund through ICICIDirect.com
- ICICI Bank doesn't offer online account opening to NRIs apart from customers from the US. Online account opening is also not available to Minor NRIs from the US.
Conclusion
ICICI is a highly recommended trading account for NRIs who are looking for investing in the stock market and mutual funds in India. It offers a convenient way to invest with competitive brokerage charges. It offers a range of investment options along with a dedicated RM, NRI support desk, free research, and tips. GTC and AMO order helps NRI customers to place an order in their own convenient timings.
ICICIdirect Special Offer
ICICIdirect Neo Plan (Discount Brokerage)
Open a 3-in-1 account with Neo Plan for:
- Free Account Opening
- Brokerage-Free Equity Futures trading
- Flat Rs. 20 per trade brokerage in Options, Currency F&O and Commodity futures in BSE, NSE and MCX
- Free trading tips
- Get funds in your bank account in just 5 minutes of selling stocks
Interested in opening a trading account? Open Instant Account Now
Frequently Asked Questions
1. Can NRI open ICICI Direct account?
Yes, an NRI can open an account with ICICI Direct to trade in India stock market or invest in Mutual funds. NRIs can open a demat account in ICICI by filling an online application form. They need to open an NRI 3-in-1 account which includes 3 accounts; NRI Bank Account (PIS or Non-PIS), NRI Trading Account (NRE or NRO) and NRI Demat Account (NRE or NRO).
- NRI Bank Account
ICICI Bank offers 2 types of NRI bank accounts:
- NRE Bank Account (For transactions on the repatriable basis)
- NRO Bank Account (For transactions on the non-repatriable basis)
Read NRE Vs NRO Bank Account for the detailed comparison of NRI Bank Accounts.
- NRI Trading Account
NRI Trading Account allows NRIs to trade stocks, bonds, NCD, ETF, etc from stock exchanges like BSE and NSE. The trading account is of 2 types depending on whether it is linked with your NRE or NRO bank accounts.
- NRI Demat Account
ICICI Bank offers an NRI demat account through its membership with NSDL and CDSL. The NRI Demat Account is linked with the NRO or NRE bank account.
Once your 3-in-1 account is opened, you can buy/sell shares, derivatives and bonds etc., online using the various trading software offered by the stock broker.
Note:
- PIS permission is mandatory NRIs to buy/sell stocks in India on repatriation basis. All trading transactions from PIS accounts are reported by ICICI Securities to ICICI Bank for onward reporting to RBI.
- Non-PIS account can be used to sell IPO shares and shares normally bought when the NRI was Indian Resident. It can also be used for trading in equity derivatives (F&O) on non-repatriable and investing in Mutual Funds.
- NRI Bank Account
2. What is ICICI NRI Account?
ICICI NRI Account is a bank account for Non-resident Indian (NRI) to invest their foreign earnings in India or to manage the money they are earning in India.
NRI customers who would like to invest in India stock market, Mutual funds, IPO, FDs, etc. need an NRI account. Almost all large banks in India offers NRI account.
ICICI Bank offers two types of saving bank accounts to NRI:
- NRE Account - To transfer and invest foreign earning in India.
- NRO Account - To manage money earned by NRIs in India i.e rental income, dividends, etc.
Visit NRE Vs NRO Bank Account to find the difference between NRE and NRO account.
Note:
- NRI account is optional.
- Relationship managers at banks like ICICI push NRIs to open an NRI account as soon as they land to foreign country. You should carefully understand the pros and cons before opening the account. NRI's, who don't need it, should avoid opening it. An NRI account requires a lot of paperwork, compliance issues and bank charge annual maintenance charges even when you don't use it.
- An NRI should have a clear understanding of the type of accounts, tax liabilities, and FEMA and FATCA regulations.
3. How to open ICICI NRI account?
ICICI NRI Account offer convenience to save and invest in India. An NRI can open an account in the following ways:
- Visit nri.icicidirect.com and submit an enquiry form.
- Once your enquire is registered, you will receive a PDF form in an email.
- Print the form, fill it and sign it.
- Attach required documents mentioned in the account opening form. Note that all documents should be attested by ICICI bank employee or Indian Embassy.
- Enclose a cheque or DD of Rs 4000 for account opening fee. (Rs 6000 for UK NRIs.)
- Send the form and document to ICICI Bank, Mumbai branch.
Note: US based NRIs can open an NRI account online through a complete paperless process. The account is opened in just 2 days. This facility is not available to residents in any other countries.
4. How to close ICICI NRI Account?
Steps to close ICICI Bank NRI account online:
- Download 'Request for Closure of Saving Bank Account for NRI form'
- Print it, Fill and Sign it.
- Attach a self-attested photocopy of a valid passport.
- Send the form to ICICI Bank, Mumbai office.
Note:
- This request will delink the NRI Trading and NRI Demat Account from the NRI bank account.
- If the account is inactive or dormant, the account has to be activated before closure.
Closure proceeds of NRO Savings account cannot be transferred to an NRE or any third party account.
5. How much are ICICI Securities NRI brokerage charges?
ICICI Securities NRI Brokerage Charges
Segment
Brokerage Charges
Equity Delivery
0.50% to 1.25%
Equity Futures
0.03% to 0.05%
Equity Options
Rs 70 to Rs 95
ICICI NRI Trading Tax
Tax
Equity Delivery
0.1% on both Buy and Sell
Transaction / Turnover Charges
NSE: 0.00325% | BSE: 0.003% per trade (each side)
Goods and Services Tax (GST)
18% on (Brokerage + Transaction Charge)
SEBI Charges
Rs 15/Crore
Stamp Charges
0.01% on delivery based turnover and 0.002% on non-delivery based turnover
ICICI NRI Equity Brokerage Structure
Total Turnover (per month)
Brokerage
Trades above Rs 50 lacs
0.50%
Rs 25 lacs to Rs 50 lacs
0.75%
Rs 10 lacs to Rs 25 lacs
0.90%
Rs 5 lacs to Rs 10 lacs
1.00%
Up to Rs 5 lacs
1.25%
How ICICI NRI Brokerage slabs are calculated?
If the total value of buy and sell transactions is Rs 5,00,001 or more in any calendar month, brokerage for the next month would come down to 1.00%. However if in the next calendar month, the total value of buy and sell transactions is less than Rs 5 lacs, the applicable brokerage fee for the next quarter would increase to 1.25%.
6. How to convert ICICI Direct to NRI account?
ICICI NRI Trading and Demat Account Conversion
A Resident Indian Trading and Demat account cannot be converted into a Non-Resident Indian (NRI) account. An NRI customer should close the resident account and open a new account with NRI status.
This is because NRI accounts have tough compliance requirements. These accounts are closely monitored by RBI in India and by the government of your country of current residence.
Thus changing ICICI account trading and demat status from Resident Indian to Non-Resident India is not possible.
Note:
- Your Demat holding from Resident Indian Demat account can be transferred to your NRO demat account (Non-PIS only) as long as you provided the proof of buying them when you were an Indian resident.
- Mutual funds from the resident demat account can also be moved to NRO demat account with proof of buying.
ICICI NRI Bank Account Conversion from Resident to NRI
In case of a Resident Saving Bank Account, the account can be converted into NRO Saving Bank Account. The NRO account can be converted into an ICICI NRI 3-in-1 account by adding NRI Trading and Demat Account to it.
7. How to activate ICICI NRI Account?
There are 3 possibilities of an NRI bank account goes to inactive status:
- A newly opened NRI Bank Account remains in inactive mode. To activate the account, the customer has to transfer funds to the account and authenticate it.
- The ICICI NRI account becomes inactive when it is not used for 12 months. To reactivate the account, the customer has to make one transaction through it.
- If the ICICI NRI account becomes a Dormant Account, the customer has to provide certified copies of valid documents for proof of identity and address.
8. How to open ICICI NRI Account in UK?
The process of opening ICICI NRI Account for UK based NRIs is same as the process for the rest of the world (except the US where account process is paperless).
To open ICICI NRI Account in the UK, an NRI has to:
- Download the NRI Account opening form PDF.
- Print it, fill it and sign it.
- Attach supporting documents (attested by ICICI Bank Employee or Indian Embassy)
- Attach a cheque / DD or Rs 6000
- Send the form and documents to ICICI Bank Mumbai office.
9. Can an NRI open a demat account in ICICI?
Yes, An NRI can open an NRI Demat Account (NRE or NRO) with ICICI Bank.
The best option available for NRIs is to open ICICI NRI 3-in-1 account. This account is a combination of bank, trading and demat account, interlinked together for seamless transitions between these accounts.
The ICICI 3 in 1 account for NRI offers trading/investing in stocks, mutual funds, IPO, Bonds, NCDs, FD and equity derivatives.
10. How to open NRI Account ICICI bank?
ICICI NRI account opening process is a paper-based process (except for US residents). An NRI has to request a PDF form from the bank, fill it up, sign it, attached supporting documents, attach check/dd for account opening fee and send it to the ICICI Bank Mumbai Branch.
ICICI Bank offer complete online account opening to USA based NRIs. This paperless process enables NRI's to open NRE/NRO bank account in just 2 days.
11. How to open ICICI Bank NRI Account online with Aadhar Card?
The online account opening with Aadhar based digital signature is not available to NRIs.
US based NRIs can open an account online. This paperless process takes only takes 2 days to open an account once the online application is submitted.
For all other countries, an NRI has to download the PDF form, fill it, sign it and send it to ICICI Bank Mumbai office.
12. How to open NRI Demat Account in ICICI?
An NRI can open a demat account in ICICI either by opting for an NRI 3-in-1 account which allows an NRI to open a trading and bank account along with a demat account.
The NRI Demat Account opening process is a manual process where an NRI has to fill the form online, print it, sign it and send it to the ICICI Bank Mumbai office. It takes 2 days once the paper received by the bank to open the account.
The easiest way to open an NRI demat account is by visiting any of the nearest ICICI Securities Center or ICICI Bank branches while visiting India. ICICI Securities also has its offices in Oman, Bahrain, Abudhabi, and Dubai.
Steps to open NRI Demat Account in ICICI
- Visit www.ICICIDirect.com website.
- Click on the 'Open an Account' tab on top.
- Click the 'Get Started' button.
- Click on the 'Non-Resident Indian (NRI)' tab.
- Choose the country.
- Fill up the Application Form online.
- Print the completed form & follow the CHECKLIST for signatures, photographs, and documents.
- Attach the required attested documents to the printed form.
- Send it to the address mentioned in the checklist.
Note:
- ICICI Direct does not offer trading account to US-based NRI customers.
- Send an email to the customer care at nri@icicidirect.com for help in the account opening.
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Information on this page was last updated on Monday, April 3, 2023
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