Can NRIs open an account with FYERS using NRO account?
Yes, NRIs can link their NRO (Non-Resident Ordinary) bank accounts to FYERS for trading. This allows NRIs to invest in Indian stock markets while complying with regulatory guidelines through FYERS’ NRI account setup.
How to link your NRO account to FYERS
- Visit the FYERS support article on NRI account opening: How to initiate an NRI account opening with FYERS.
- Follow the step-by-step instructions provided, including documentation requirements and forms.
- Ensure you select an NRO bank account while filling the application.
- Once the account is opened and verified, your NRO account will be linked for trading purposes.
What If
| Scenario | Solution |
|---|
| You want to use an NRE account instead | FYERS currently supports NRO account linkage only. NRE accounts are not permitted for this setup. |
| You already have a FYERS account | You’ll need to close the existing resident account and reapply as an NRI with correct documentation. |
| Your NRO account is with a bank not supported by FYERS | Ensure the NRO account is with a supported bank (e.g., HDFC, ICICI) to proceed. You may need to open a new NRO account if required. |
Always ensure your PAN is tagged as NRI and the status is updated with the depository (CDSL) before initiating the NRI onboarding process.
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