The type of Bank accounts needed for NRIs to start investing with AxisDirect are classified as below :-

Classification on the basis of source of funds :

NRE Account :

NRE account is required, where the investments have to be done on repatriable basis.

NRO Account :

NRO account is required, where the investments are done on non-repatriable basis.

Classification based on the nature of transactions

PIS Account :

This accout is required, where the investments are done under PIS or have to be reported through PIS.

Non PIS Account :

This account is required, where the investments are not routed through PIS and are not required to be reported through PIS. Such account is required for all IPOs, ETF's, Derivatives and MF investments and also to sell shares, which were acquired as resident Indian.