NRI Portfolio Investment Scheme

NRI Portfolio Investment Scheme

NRI Portfolio Investment Scheme

Invest in the growing Indian economy even when you are abroad. Access the convenience of purchasing or selling shares and convertible debentures of Indian companies using the NRI Portfolio Investment Scheme (PIS) account* in accordance with the terms and conditions specified under the Foreign Exchange Management Act (FEMA).

- PIS Accounts can be opened as NRE
- Facility to open account jointly with resident family member
- Free online Trading account opening with Sharekhan Ltd.

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Overview

Features and benefits of NRI PIS account:

  • Can be only opened under NRE (Repatriable) category. As per recent RBI guidelines, NRIs should have a separate bank account exclusively for PIS purposes. Account/s can be held in joint names.
  • Can be opened at the designated branch i.e. Deutsche Bank House branch, Hazarimal Somani Marg, Fort, Mumbai.
  • db OnlineBanking access will be provided for NRI PIS accounts, allowing you to transfer funds to and from your regular NRE / NRO accounts.
  • db TradePro the online trading account with Sharekhan Ltd. at zero cost.
  • International / Domestic Debit Cards and Cheque books will not be issued on an NRI PIS account.

List of Documents

Documents required to be submitted

  • NRE PIS account opening form
  • Duly signed bank AD letter
  • Primary market and transfer case annexures
  • NRI declaration and undertaking

Schedule of Charges

 Charges Head  Amount
 Account opening fee (one time fee)  Rs. 5,000
 Annual account maintenance fee   Rs. 2,000
 PIS reporting charges :-  
 Purchase    Rs. 500 per contract
 Sale    Rs. 500 per contract
 Purchase / Sale on same contract   Rs. 1,000
 Sale proceed charges (through secondary market)   Rs. 2,500 per trade date
 Sale proceed charges for shares acquired through primary market / gift / inheritance   Rs. 3,000 per trade date
 Application for SPLITTING / CONVERSION / EXCHANGE (Per Transaction)   Rs. 200

Common clauses :

  • The above rates are subject to change with 30 days prior intimation.
  • Charges plus taxes as applicable will be levied.

* This service is not available to citizens/ residents of USA, Canada and any other country/ jurisdiction which prohibits or restricts in any other manner, the sale and solicitation of Indian securities and any other financial products/ services.

Deutsche Bank AG, Mumbai Branch (“Bank”) of Deutsche Bank Aktiengesellschaft, a corporation duly organized and existing under the laws of Federal Republic of Germany is regulated in India by Reserve Bank of India. It offers NRI Accounts and related services under the Reserve Bank of India program for Non-Resident Indians and are governed by the rules in effect from time to time relating to such programs, are subject to the sovereign risk arising from, and governed by the laws of, or any changes to the laws of India. NR deposits with the Bank in India are not insured by any other insurance company or corporation outside India and are payable only at the branch of the Bank in India where the deposit is made. The insurance available is up to a maximum of  One Lakh provided by India's Deposit Insurance and Credit Guarantee Corporation. The information provided herein is not directed or intended to be used by any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation within such jurisdiction or would subject the Bank or its affiliates to any licensing or registration requirements.