Which banks can be linked for NRO accounts with FYERS?
When opening an NRI trading account with FYERS, the bank you can link to depends on whether you choose the PIS or Non-PIS account type.
Banks for PIS accounts
For clients trading under the Portfolio Investment Scheme (PIS), FYERS supports partnerships with:
- HDFC Bank
- Axis Bank
- Yes Bank
FYERS can assist with the PIS bank account opening process to help complete onboarding with these partner banks.
Flexibility for Non-PIS accounts
If you opt for an NRO Non-PIS setup:
- You can link any RBI-registered Indian bank to your FYERS trading account.
- This includes public sector, private, or cooperative banks that support NRO accounts.
The choice of bank for NRO Non-PIS accounts is not limited to FYERS partner banks, provided the bank is RBI-registered and supports NRO accounts.
What If...
| Scenario | What you should know |
|---|
| You already hold an NRO account with a bank not listed | You can still link it for Non-PIS trading. |
| You want to convert from PIS to Non-PIS | You’ll need to delink the existing PIS bank and initiate the switch. |
| You’re unsure which account type to choose | Review the differences between PIS and Non-PIS setups before account opening. |
Last updated: 12 Aug 2025
Related Articles
Can I link both NRE and NRO accounts to the same FYERS trading account?
While NRIs can maintain both NRE (Non-Resident External) and NRO (Non-Resident Ordinary) bank accounts with RBI-approved banks, FYERS allows linking only one bank account to a trading and Demat account at a time. You must choose whether to link an ...
What is an NRO Non-PIS account and how is it different from an NRE account?
An NRO Non-PIS account is a type of bank account that enables NRIs to invest in Indian stock markets and mutual funds using income earned within India, such as rent, dividends, or pension income. It does not fall under the RBI’s Portfolio Investment ...
Can I open multiple trading/Demat accounts with FYERS?
No, you cannot open more than one trading and Demat account with FYERS using the same PAN. However, you're allowed to open accounts with other brokers or depository participants (DPs) if you wish to manage multiple portfolios. Why only one account is ...
Can NRIs open an account with FYERS using NRO account?
NRIs can open a trading account with FYERS by linking their NRO (Non-Resident Ordinary) bank account. This account setup enables regulatory-compliant access to Indian stock markets. Steps to open an NRI account using your NRO bank account Fill out ...
What is TDS, and How Is It Applied on NRI Non-PIS Accounts at FYERS?
Tax Deducted at Source (TDS) is tax collected at the point of income generation under the Income Tax Act, 1961. For NRI Non-PIS accounts at FYERS, TDS applies on capital gains and certain India-sourced income, and is processed through a structured ...