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I am permanently moving back to India from abroad. Do I need to change my status to a Resident Indian? How do I do so?

If you had previously invested or continue to invest with Scripbox using funds in your NRE or NRO bank account, please do not close your NRE or NRO bank account until your resident change is successfully completed i.e from NRI to Resident Indian.

Inorder to invest with the resident status as Resident Indian, you need to have a savings bank account in India. Once your resident Indian bank account is ready, login to your Scripbox account click on your name i.e. at the top left corner of the page & then add yourself as a family. Enter your own details but with your India address and resident Indian savings bank account. 

Once your new Scripbox account is created, request you to courier the physical copies of the below documents to us: 

  1. Paste your passport size photograph on the pre filled KYC form, sign across the photograph & at the relevant designation (email with the KYC form attached is sent to your registered email ID).
  2. Self signed copy of your PAN card. 
  3. Self signed copy of your Indian address proof. 
  4. A short 30-second video selfie (Face the camera for 5 seconds) 
  5. A canceled cheque leaf (with your name printed on it) of the NEW bank account (resident Indian savings bank account). If you don't have a cheque, you can provide a recent 3-month bank statement with the seal and signature of a bank employee. Please ensure the employee code and designation are indicated on the statement. 
  6. Self-signed link your bank account form (email with the link your bank account form is sent to your registered mail ID when you had added yourself as a family member).
  7. Print, sign and mail (or courier) the bank change letter with other documents back to us, so we can update the information in our records as well as with KYC registration agencies

It usually takes around 1 working day to get your “Scripbox account with the resident status as Resident Indian”, activated i.e. once we receive the above documents from you, post which you can start investing with your updated resident status. 

Below are the documents required for the folio movement from NRI to Resident Indian: 

  1. A canceled cheque leaf (with your name printed on it) of the OLD bank account (NRE or NRO bank account). If you don't have a cheque, you can provide a recent 3-month bank statement with the seal and signature of a bank employee. Please ensure the employee code and designation of the bank employee are clearly indicated in the statement. 
  2. Request letter duly signed by you to move all  your Folios to the updated resident status as Resident Indian account. (We will share the format with you.) 
  3. Print, sign and mail (or courier) the bank change letter with other documents back to us, so we can update the information in our records as well as with the mutual fund companies.

The folio movement usually takes 4 weeks from the time we have received the complete set of documents.

NOTE:

  • For customers who were investing using NRE bank account, in some rare situations, some mutual fund companies may ask for a bank statement of the NRE account. We will contact you if this need arises.
  • There might be additional documents required if any of the mutual fund houses requests for it (we will keep you posted in case if any).

Hope we helped! Why not get started with your Scripbox.
If you need further assistance please feel free to reach us at 1800-102-1265