A 3-in-1 account for Non-Resident Indians is a group of online NRI investment accounts opened by the NRI customers. It is a combination of an NRI bank account, Demat account and trading account linked to each other. A 3-in-1 NRI account allows seamless online trading and investment experience, as transactions between these three 3 accounts are managed by the bank internally.
What is 3-in-1 NRI account
A 3-in-1 account NRI account is a combination of:
- NRI Bank Account (PIS Linked)
- NRI Trading Account
- NRI Demat Account
Non-Resident Indians need each of these accounts to invest/ trade in the Stock Market in India. Major Indian banks like SBI, HDFC, ICICI, Kotak Mahindra, and Axis Bank offer these accounts to NRI customers.
1. NRI Bank Account
Non-Resident Indians need to open an NRI savings bank account to deposit their foreign earnings in Indian Rupees. NRIs can open an NRE or NRO bank account. They need to open a PIS account in India to invest in the Indian stock market on a repatriation basis. This type of account is known as the NRE PIS bank account and all the transactions in this account are reported to the Reserve Bank of India.
The PIS permission letter is not mandatory for NRI investment in India on a non-repatriable basis through the NRO account.
2. NRI Demat Account
The NRI Demat account is required to save the securities in electronic format. All securities, including shares, NRI mutual funds, bonds, ETFs, etc. are stored in the Demat account.
3. NRI Trading Account
The NRI trading account is required for buying/ selling securities. When you trade online, the trading application checks the funds in the NRI bank account and shares in the Demat account before executing the trade on the exchange. Some banks open 2 bank accounts including PIS and Non-PIS accounts.
NRI 3 in 1 account benefits
- Integrated 3-in-1 account provides a convenient investment experience for NRI investors.
- 100% online investment process with one single user ID.
- Various investment options including shares, mutual funds, F&O, etc.
- Easy fund movement across the accounts.
5 best 3-in-1 account for NRIs
Here are 5 best 3-in-1 accounts, including ICICI Direct NRI trading account, Axis Bank 3-in-1 account for NRI and OCI investors who wish to invest in the Indian markets:
| Bank/ broker | Account Opening Fee | Brokerage charges |
|---|---|---|
| ICICI Direct | Rs. 4,000 | 0.50% – 1.25% |
| HDFC Securities | Rs. 2,500 | 0.75% |
| AxisDirect | Rs. 2,500 | 0.75% |
| Kotak Securities | Rs. 3,750 | 1.00% |
| IDBI Capital | Rs. 1500 | 0.50% |
ICICI Direct NRI 3-in-1 account
ICICI Direct offers a 3-in-1 account that includes ICICI NRI account, Demat account and trading account to NRI customers. NRIs living in the USA and Canada can open a paperless NRI 3-in-1 account online with ICICI Bank.
ICICI NRI 3 in 1 account charges
Following are the ICICI NRI trading account charges:
| Particulars | Charges |
|---|---|
| NRI Brokerage charges for equity delivery | From 0.50% to 1.25% |
| Equity futures brokerage | From 0.03% to 0.05% |
| Equity options brokerage | Rs. 70 to Rs. 95 |
| NRI Account AMC | Zero |
Note: The ICICI NRI trading account charges vary based on the total trade volume of the customer
HDFC NRI 3-in-1 Account
HDFC 3-in-1 account for NRIs allows them to trade and invest in the stock market in India. It combines HDFC NRI account, Demat and HDFC Securities NRI trading account for seamless trading. HDFC Securities NRI 3-in-1 account offers a single investment gateway to trade and investment in equity, ETF, IPO, FD, and Mutual Funds.
HDFC NRI 3 in 1 account charges
Following are the HDFC NRI trading account charges:
| Particulars | Charges |
|---|---|
| NRI Brokerage charges for equity delivery | 0.75% |
| Equity futures brokerage | 0.025% (both buy & sell) |
| Equity options brokerage | Rs. 100 per lot |
| NRI Account AMC | Zero |
| NRI account opening charges | Rs. 2500 |
| Other charges | PIS AMC: Rs. 1000; Minimum brokerage: Rs. 25 |
Note: HDFC NRI trading account charges may vary based on the total trade volume of the customer
SBI 4-in-1 Account
State Bank of India provides a 4-in-1 NRI account to non-resident customers to allow them to invest online in equities, derivatives, IPOs, and mutual funds. SBI 4-in-1 account consists of:
- NRE Savings Bank (SB) account
- NRE Portfolio Investment Scheme (PIS) account
- Demat Account
- SBI Securities NRI Trading Account
SBI Securities trading charges
| Particulars | Charges |
|---|---|
| NRI 3 in 1 account opening charges | Rs. 2000 |
| NRI Demat account AMC | Rs. 600 |
| Fee for RBI approval for PIS (one time) | Rs. 500 |
| PIS AMC | Rs. 900 |
| Equity delivery brokerage | 0.75% |
| NRI Account AMC | Zero |
| NRI account opening charges | Rs. 2500 |
Note: The SBI NRI trading account charges vary based on the total trade volume of the customer
Living away from India, it is not easy for NRIs to open a NRI Trading account or Demat account and make the right decision about investment in India. At SBNRI, we understand that there are many obstacles faced by NRIs while investing in India. You can download SBNRI App to connect with our experts and get end-to-end assistance related to an NRI investment.
You can also click on the button below to ask any questions. Visit our blog and YouTube Channel for more details.
FAQs
A 3-in-1 NRI investment account consists of an NRI bank account (PIS Linked), a Demat account and a trading account. They are interlinked and allow NRIs, PIOs and OCIs to trade in the stock market in India and invest in IPOs, Mutual Funds, FDs and Bonds. NRIs must open a 3-in-1 account for investment in the Indian Stock Market or MFs.
A 4-in-1 NRI account combines a PIS Bank, Non-PIS bank account, a Demat account and a trading account, linked to each other. This type of stock market investment account enables NRIs to trade in equity and currency derivatives on both repatriation and non-repatriation basis. NRIs can also invest in stocks, bonds, mutual funds, IPOs, ETFs, etc.
No, these stock brokers don’t offer 3-in-1 NRI accounts because they are not allowed to offer banking services.
