I wish to start investing in Equity and Mutual Funds. Where should I open Demat account for best rates, transaction charges and so on? I am NRI.

As an NRI looking to invest in equity and mutual funds in India, you need to open a Demat account. Here are some of the best options for NRIs, considering rates and transaction charges:

Best Demat Accounts for NRIs

1. Zerodha:

   • Brokerage: ₹200 per executed order for NRIs.
   • Features: No minimum brokerage cap, delivery is free, and offers a margin from 4 to 15 times. Zerodha is partnered with HDFC Bank, Axis Bank, and Yes Bank for NRE account opening.
   • Customer Support: Dedicated team for NRI customers.

2. IIFL (India Infoline):

   • Features: Offers research advisory, video validation for account opening, and a dedicated relationship manager.
   • Suitable for: NRIs who need guidance and research for investment decisions.

3. ProStocks:

   • Brokerage: ₹100 per executed order.
   • Features: Offers real-time charts and intraday trading backed by technical studies.

4. Sharekhan:

   • Features: Integrated RBI-approved bank account with HDFC Bank, free fund transfers, and online training.
   • Brokerage: Generally higher compared to discount brokers like Zerodha.

5. Kotak Securities:

   • Features: Offers a 3-in-1 trading account for seamless fund transfers, detailed research reports, and online support.
   • Brokerage: Higher compared to discount brokers.

Mutual Funds

• Note: You don't need a Demat account to invest in mutual funds as an NRI. You can use platforms like the SBNRI app to access over 3000 mutual fund schemes in India1.

Additional Considerations

• PIS Account: Required for NRIs to invest in Indian equities. It can be opened with banks like Axis Bank, HDFC Bank, etc.2.
• Taxation: Investment income may be subject to Indian tax laws, including capital gains tax3.

Opening a Demat Account

• Online Process: Some brokers allow online account opening for NRIs, but documents may need to be attested by the Indian Embassy or local authorities4.
• Offline Process: Available for NRIs visiting India4.

For the best rates and transaction charges, Zerodha is often recommended due to its low brokerage fees and user-friendly interface. However, if you prefer full-service brokers with additional research support, IIFL might be a better choice.