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What is the trading process for NRI accounts?

The trading process for NRI accounts is as follows:

PIS accounts

  • Adding funds: Funds must be allocated from the NRE or NRO bank account to the PIS bank account. The bank sends a report to Zerodha with the PIS balance at the end of the day. The PIS balance is updated as margins in the Zerodha account the next trading day before the market opens. See What are the market timings?

  • Buy orders: When a stock is purchased, Zerodha sends a buy contract note to the bank at the end of the day. The bank debits the PIS account to that extent and credits Zerodha one working day after the transaction day (T+1).

  • Sell orders: When a stock is sold from the demat account, Zerodha sends a sell contract note to the bank at the end of the day to calculate TDS. The PIS bank account is credited with the proceeds from the sale the next working days after the transaction day (T+1).

NRO Non-PIS account

  • Adding funds: Funds can be transferred to the Zerodha account directly through the payment gateway, NEFT, RTGS, and IMPS. To know how to transfer funds, see What are the different ways of transferring funds to my Zerodha account?
  • The trading process for an NRO NON-PIS account is similar to a resident individual account. The only difference is that an NRO bank account is mapped with Zerodha.

Futures & Options (F&O)

NRIs can trade in the F&O segment through an NRO account. A Custodial Participant (CP) code is required to trade in the F&O. Zerodha has tied up with Orbis to help NRI clients receive a CP code. Once the NRI has the CP code, all funds for trading F&O will be with the custodian, similar to how all the funds for trading stocks are with the bank. To learn more about Orbis, visit

To open an NRI account and to know the difference between a PIS and NON-PIS account, see How can I open a Zerodha trading and demat account as an NRI?