UdaipurTimes, September 7, 2026 | Investment Blog: Non-Resident Indians (NRIs) who want to invest in Indian stocks and other securities need an NRI Demat account to hold their investments electronically. Depending on the investment and source of funds, NRIs may use an NRE or NRO account structure.

With digital investing platforms and bank-backed investment services, NRIs can now initiate the process of opening a Demat account from outside India. However, the account-opening process, documentation, investment options, charges, and repatriation facilities can differ significantly across platforms.

A good NRI Demat account platform should offer a convenient account-opening process, support the appropriate NRE/NRO structure, provide access to eligible investment products, offer transparent charges, and provide reliable support for investors living abroad.

In this guide, we compare some of the best platforms to open an NRI Demat account in India and explain the key factors NRIs should consider before choosing a platform.

Top Platforms to Open an NRI Demat Account in India

1. Groww

Groww provides NRIs with a digital platform to invest in eligible Indian market products through a Non-PIS NRO account. NRIs can open the account digitally, and those with an existing NRO bank account can link it to Groww instead of opening a new account.

NRIs can use the platform to invest in stocks, futures and options (F&O), mutual funds, ETFs and IPOs, subject to applicable regulations and eligibility.

The account opening process is designed to minimise paperwork, with documents verified digitally. Eligible NRIs and OCI/PIO cardholders need to provide documents such as a PAN card, passport or OCI card, overseas address proof and NRO bank account details. A PIS letter is not required for the Non-PIS route.

Key Features of Groww for NRI Investors

• Non-PIS NRO account
• Digital account opening and verification
• Existing NRO account can be linked
• No PIS letter required
• Stocks and F&O access
• Mutual funds and ETF investments
• IPO participation, subject to eligibility
• Applicable TDS on capital gains
• Integrated digital investing experience

Groww is Best For

• NRIs who already have an NRO bank account
• Investors seeking a digital account-opening process
• NRIs who do not want to use the PIS route
• Investors interested in stocks, F&O, mutual funds, ETFs and IPOs
• Investors looking for a relatively simple way to access eligible Indian investments

Overall, Groww suits NRIs who want to invest in Indian markets through the Non-PIS NRO route, particularly those looking for digital onboarding and the convenience of linking an existing NRO account.

2. Zerodha

Zerodha is one of India's leading discount brokers and offers investment facilities for NRIs.

The platform is best suited to investors interested in Indian equities who want a brokerage-focused investment experience.

NRIs should review Zerodha's current NRI account-opening requirements, eligible investment products, applicable brokerage, and NRE/NRO account requirements before opening an account.

Zerodha is Best For

• NRIs primarily interested in Indian equities
• Investors looking for a brokerage-focused platform
• Existing Zerodha users who want NRI investment facilities

3. ICICI Direct

ICICI Direct offers NRI investment services through its integrated banking and investment ecosystem.

One key advantage is the connection between ICICI Bank's NRI banking services and its investment platform. This can make it convenient for existing ICICI customers who want to manage their banking and investments within the same ecosystem.

NRIs can access eligible investment products such as stocks, mutual funds, IPOs, and other securities, subject to applicable regulations.

ICICI Direct is Best For

• Existing ICICI Bank customers
• NRIs looking for banking and investment integration
• Investors who prefer a bank-backed investment platform

4. HDFC Securities

HDFC Securities provides investment services through the broader HDFC financial ecosystem.

For NRIs, the platform can be useful for investors who prefer to maintain their banking and investment relationships with an established financial institution.

Confirm the exact NRI account-opening process, charges, investment products, and documentation requirements before opening an account.

HDFC Securities is Best For

• Existing HDFC customers
• NRIs looking for an established bank-backed platform
• Investors who prefer integrated financial services

5. Kotak Securities

Kotak Securities provides NRI investment facilities through its brokerage and banking ecosystem.

The platform can be useful for NRIs who already have a relationship with Kotak Mahindra Bank and want to manage their NRI banking and investments together.

Kotak Securities is Best For

• Existing Kotak customers
• NRIs looking for an integrated banking and investment platform
• Investors who prefer a traditional financial institution

6. Axis Direct

Axis Direct offers investment services through the Axis Bank ecosystem and provides access to eligible Indian investment products.

NRIs can consider the platform if they prefer managing their investment relationship alongside their NRI banking relationship with Axis Bank.

Axis Direct is Best For

• Existing Axis Bank customers
• NRIs looking for bank-backed investment services
• Investors who prefer an integrated financial ecosystem

7. Motilal Oswal

Motilal Oswal provides investment services for NRIs and offers access to Indian equities and other eligible financial products.

The platform may be suitable for NRIs who prefer a full-service brokerage model and research-oriented investment services.

Motilal Oswal is Best For

• NRIs looking for research-oriented investment services
• Investors interested in Indian equities
• Investors who prefer full-service brokerage support

8. Angel One

Angel One is a digital investment platform offering access to multiple financial products.

NRIs considering Angel One should verify the current availability of NRI account-opening facilities, eligible investment products, country-specific requirements, and applicable regulations before proceeding.

Angel One is Best For

• Investors familiar with digital brokerage platforms
• NRIs looking for a broader investment ecosystem
• Investors who prefer managing investments digitally

How to Choose the Best Platform to Open an NRI Demat Account

Before choosing a platform, consider the following factors.

1. NRE and NRO Support

Check whether the platform supports the NRE or NRO account structure required for your investments.

2. Investment Products

Review whether the platform provides access to the products you want to invest in, such as:

• Stocks
• Mutual funds
• ETFs
• Bonds
• IPOs
• REITs and InvITs
• Other eligible securities

3. Account Opening Process

NRIs living overseas should check whether the account can be opened remotely and what documentation, attestation, notarisation, or verification may be required.

4. Brokerage and Other Charges

Compare:

• Account-opening charges
• Annual maintenance charges
• Brokerage
• Transaction charges
• DP charges
• Other applicable fees

The lowest brokerage does not necessarily mean the lowest overall cost.

5. Repatriation Facilities

If repatriating investment proceeds is important to you, understand the applicable rules for NRE and NRO investments before opening the account.

6. Customer Support

NRIs may need assistance with KYC, documentation, bank linking, account activation, and investment-related queries while living outside India.

7. Digital Platform

A good platform should allow investors to conveniently monitor holdings, view transactions, track portfolio performance, and manage eligible investments from abroad.

What Is the Best Platform to Open an NRI Demat Account?

No single platform is best for every NRI.

Groww suits NRI investors who prefer a digital-first experience and access to multiple investment products.

Zerodha may suit NRIs who primarily focus on equity investing and prefer a brokerage-focused platform.

ICICI Direct, HDFC Securities, Kotak Securities, and Axis Direct may suit investors who prefer integrated banking and investment services.

Motilal Oswal may suit investors looking for a full-service, research-oriented experience.

The right choice depends on your country of residence, investment goals, preferred products, banking relationship, account type, and support requirements.

Conclusion

Opening an NRI Demat account is an important first step for NRIs who want to invest in eligible Indian securities. Today, investors can choose from digital investment platforms, discount brokers, and bank-backed investment platforms.

Platforms such as Groww, Zerodha, ICICI Direct, HDFC Securities, Kotak Securities, Axis Direct, Motilal Oswal, and other eligible providers offer different combinations of investment products, account services, banking integration, and customer support.

Before choosing the best platform to open an NRI Demat account, compare NRE/NRO support, investment options, brokerage and account charges, account-opening requirements, repatriation rules, customer support, and digital experience.

Most importantly, verify the latest NRI eligibility requirements, product availability, fees, and regulatory conditions with the platform before opening an account.

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