Hello,
Context: I have an ICICI savings account linked to my demat account at Zerodha. Since i have moved to Germany and currently have a NRI status, I wanted to open a NRE account at my bank and the bank mentioned my existing “savings account” will be converted to “NRO” account with same account details and a separate NRE account will be opened.
Query: 1. Since the bank account behind my demat account is savings account. After the conversion of savings account to NRO account, will it affect my demat account at Zerodha in any form (considering the account details of converted NRO account will be same as savings account?
- Is there any other better process? or should my NRE account be linked with the demat account (not sure if its possible)
Side note: I am not planning to move/use the money generated through trading abroad. I want to keep them in India.
Any help would be highly appreciated, Thank you!