Motilal Oswal NRI Account Review | Motilal Oswal
Motilal Oswal NRI Account Review | Motilal Oswal

Motilal Oswal NRI Account Review

Motilal Oswal is one of the country's first full-service stock brokerage firms. The company was founded in 1987. It is one of India's oldest stock brokerage firms. It's noted for its trading software, portfolio management services, and quick customer support. Trading services are also available in a number of areas, including stock, commodities, currency, and derivatives.

The firm has released more than 30,000 research-based papers on 260+ firms across 21 industries. Motilal Oswal has a presence in more than 500 cities across India, with 2,200 outlets.

  • NRI Account at Motilal Oswal

Customers of Motilal Oswal can open a two-in-one NRI trading account. This account combines trading and Demat capabilities. Before opening an NRI account with Motilal Oswal, an NRI must have an NRE and NRO bank account as well as a Portfolio Investment Scheme letter. It has a collaboration with HDFC Bank for NRI bank accounts.

Customers interested in derivative trading must first get a CP code. It has an IL&FS securities custodian, which gives NRI customers the CP code. IL&FS is considered to be the custodian of all assets.

  • Documents required for a Motilal Oswal NRI Account

To open an NRI account with Motilal Oswal, a specific set of documents is required. The documents are listed below:

1. A duplicate of your PAN card

2. A proof of overseas address

3. A proof of Indian residency

4. A passport-sized photo

5. Evidence of a bank account (For example, a canceled cheque from an NRE or NRO savings account)

A FATCA Declaration form is also required

7. A letter of permission from PIS

8. FEMA declaration form

  • Opening a Motilal Oswal NRI Account

The company offers a paperless online account opening procedure, making it simple to open an account with them. A person must have an NRI bank account, a PIS bank account, and a custodial account before opening a Demat account with Motilal Oswal.

  • Motilal Oswal's NRI Demat Account

Motilal Oswal requires all of its customers to open a Demat account. Because the firm has many years of experience, opening a Demat account with them is never a bad idea.

Non-Resident Indians (NRIs) and Indian residents can both open Demat accounts to trade on the stock market.

NRIs purchase securities in electronic format, which are maintained and secured in Demat accounts. The Demat account enables the consumer to conduct secure financial transactions (buying and selling). 

  • Documents required to open a Motilal Oswal NRI Demat account:
  1. Address proof
  2. Identity proof
  3. PAN card and Aadhar card should be linked with your mobile number 
  4. Income proof
  5. Canceled cheque
  6. Recent passport size photograph

Concluding comments:

The Indian stock market provides a variety of trading opportunities for investors. You can open an NRI Demat account if you are an NRI. It has never been easier for NRIs to open a Demat account, but organization like Motilal Oswal makes it quite easy and hassle-free. 

Related Articles: How to Open a Demat Account Without a Broker | Factors to Keep in Mind While Opening a Demat account | Factors to Consider When Opening a Demat Account | 10 Points to Remember When Operating your Demat Account | Types Of Demat Account & Trading Account

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