Looking to open a 3 in 1 Demat Account and that is why you’d definitely want to know which is the best demat account in 3 in 1 category available out there. This becomes even more important to know since there is a huge range of stockbrokers available and it can be really easy to get confused with whatever each broker has to say.
Let’s figure out answers to all such confusions in this review here.
A trading account allows you to trade across these mentioned segments while a demat account is like a safe locker where you keep your purchased stocks from the stock market. Such a provision of a demat plus trading account can be provided by any stockbroker – be it a full service or a discount broker.
One main crunch when you trade is managing your funds in your account. When you trade on a regular basis, there is a consistent need of:
Immediate Transfers during opportunity situations
In case you have your bank account with a banking service and you are trading through a full service or a discount broker, you always have to make sure there are a reasonable amount of funds available in your account. Otherwise, you will to regularly keep transferring funds and in case, your trading account gets short of funds, your trading sees a hiccup.
This is where a 3 in 1 demat account comes into the picture that allows you to trade without any of the concerns mentioned above. Some of the features of a 3 in 1 demat account are:
No hassle of money transfers between accounts
An integrated financial solution with minimal paperwork
Savings account remains as the normal bank account without any impact
Suits well for beginners since some of the formalities during trading might be overwhelming
At the same time, some of the concerns with 3 in 1 demat account are:
Trading through a bank generally costs higher as compared to conventional stockbrokers
Specialist full-service stockbrokers stay marginally ahead in terms of market research or intraday tips
Best 3 in 1 Demat Account in India
With quite a few options in banking services in India, selecting a specialist bank that helps you to manage both bankings as well as trading needs can be a tough task. Here we are listing some of the leading banks in India that have proven that their trading abilities to their clients in the past. This review is based on:
Stock market Expertise
Some of the best 3 in 1 demat account in India (in no particular order) are:
HDFC Bank has a client base of close to 2 million when it comes to demat accounts across the country along with a presence in more than 3500 locations. This is a huge plus for a bank that has wide coverage with its branches and franchise locations.
As far as trading is concerned, HDFC securities is known for its top class trading platforms and customer service. Below listed are the 3 in 1 demat account opening charges of HDFC Securities:
Trading Account Opening Charges
Trading Account Annual Maintenance Charges
Demat Account Opening Charges
Demat Account Annual Maintenance Charges
You can check out a detailed review of HDFC Securities as well. You can get a free call back from HDFC by clicking the button below and providing your details.
Yes, you heard it right. Zerodha, even though is a discount broker, has started offering a 3 in 1 Demat account to its clients. Although this 3 in 1 demat account is in partnership with IDFC bank, the overall value you can get from such an account is definitely transferred to the trader.
You will need to open a new bank account as well, but it will happen along with the demat account opening with Zerodha and is not a separate process.
Here is a quick video if you want to know more about it:
There are multiple other banks that provide a provision of 3 in 1 demat account, however, their major focus lies in their banking and other related financial services.
We, at A Digital Blogger, suggest you have a detailed discussion with each of these and other preferred banks. You should put out any concerns or any specific preferences you might have during such discussions.
Most of the times, terms and charges are open to negotiation and it’s up to you as an individual till what level you can take negotiation to. Always remember, there is huge cut-throat competition out there to acquire a customer like yourself. Make sure to take due advantage of that aspect.
Still, do you have more questions to get clarified? Why don’t you send your details and we will arrange a Free call back for you!