Portfolio Investment Scheme (PIS) Account

A Non-resident Indian (NRI) may purchase shares or convertible debentures of an Indian Company on a Stock Exchange under Portfolio Investment Scheme, subject to the terms and conditions as specified under FEMA. HSBC NRI Services helps you to open your PIS bank account with any of our branches in India.

So whether you are at home or abroad, you need not miss out on the opportunity to make the most of your wealth.

Features & Benefits

• PIS account is an NRE or NRO Current account / Savings account to credit and debit funds pertaining to secondary market transactions in India, namely the buying and selling of shares under Portfolio Investment Scheme, subject to the terms and conditions as specified under FEMA
• No transaction charges and no minimum balance requirement!
• View your account balances and transaction history online through Internet Banking
• Power of Attorney (POA) can be granted to an individual to operate the account on your behalf
• The account can be opened on either repatriable or non-repatriable basis
• The account can be opened* at any one of HSBC's 47 branches across India

Notes

• Transfers to and from your regular NRE / NRO savings / current account, foreign inward remittances to PIS account, and payments / receipts from your stock broker are the transactions allowed on PIS accounts
• ATM / debit card or cheque books will not be issued on a PIS account

NRIs residing in US, Canada, Australia & New Zealand cannot be offered PIS accounts currently.

Fees & Charges

• No minimum balance requirement
• No transaction charges
• Annual maintenance charge of Rs. 3000^# for Savings account and Rs. 2,000^# for Current account

How to open a PIS account

Contact your nearest HSBC India Branch or NRI Centre^ for assistance with the PIS account opening documentation:

• NR Centres
• Branches in India