ICICIdirect Vs HDFC Securities - NRI Account Comparison (2024)

FAQs

Is HDFC or ICICI better for NRI account? ›

ICICI is a highly recommended trading account for NRIs who are looking for investing in the stock market and mutual funds in India. It offers a convenient way to invest with competitive brokerage charges. It offers a range of investment options along with a dedicated RM, NRI support desk, free research, and tips.

ICICI Bank's return on risk-weighted assets has drastically improved and is now better than HDFC Bank's. ICICI Bank should trade at a premium on high-quality granular earnings. Maintain BUY with revised target of Rs 1,214 (from Rs 1,192) as we roll to September 2025E – ICICI Bank is our top sectoral pick,' it said.

ICICIdirect NRI brokerage charges range from 0.50% to 1.25% for Equity Delivery trades, from o. 03% to 0.05% for Equity Futures trades and flat Rs 70 to Rs 95 for Equity Options trading. The ICICI NRI trading account charges vary by the total trade volume of the customer.

You can open NRI Account for Indians staying in America with HDFC Bank. Make the most of the features and benefits offered through our simple and smarter banking solutions. Effortless and seamless repatriation of funds to your country of residence through our NRE Account.

HDFC NRI account benefits

Interest earned on NRE accounts can be tax-free in India. HDFC has a low minimum balance requirements. Remitting money can be easy with HDFC remit options. HDFC has an easy process for converting your regular account in India to a NRI account.

It's subjective to determine which bank is better for a current account as it depends on individual needs and preferences. Both ICICI Bank and HDFC Bank are leading private sector banks in India and offer competitive services and features for current accounts.

Titanium Privilege Account

This type of ICICI bank savings account offers advantages to not only account holders but also their families. The Titanium Privilege Debit Card offers a higher limit of daily cash withdrawals.

Zerodha and Prostocks are the two best NRI discount brokers in India. Prostock is the low-cost NRI trading broker that charges Rs. 100 flat brokerage on NRI trading while Zerodha charges Max Rs. 200 per order brokerage.

ICICI Bank NRI Services launch 'Online Paperless Account Opening Process' - a first- of-its-kind facility for NRIs and PIOs in the US. Account can be opened in a single web session using a complete online process. 3) Request for documents pick up*.

ICICI Direct offers NRI investment services to Non-resident Indians who moved abroad for work, business or education. We offer NRIs with multiple investment solutions in primary market investments, secondary market investments, mutual funds, derivatives, bonds, etc.

Which Indian bank is best for NRIs? ›

HDFC Bank, India's No.1 Bank for NRI Services, offers you a range of banking tools custom-made for NRIs.

You can, but this is tricky. Non-resident accounts are only available to Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs). If you don't fall into any of these categories, you'll need to be living in India before you can open an account.

The NRE funds can be repatriated only to customers' own/self-account abroad. The beneficiary's name should be same as per name of the account holder.

ICICI Bank offers NRE FD rates between 6.70% to 7.10% for tenure ranging from 1 year to 10 years. The highest interest rate of 7.10% is offered on 15 months to 2 years tenure. The rates are effective from October 16, 2023. PNB Bank offers NRE FD rates between 6.75% to 7.25% for tenure ranging from 1 year to 10 years.

Zerodha and Prostocks are the two best NRI discount brokers in India. Prostock is the low-cost NRI trading broker that charges Rs. 100 flat brokerage on NRI trading while Zerodha charges Max Rs. 200 per order brokerage.