What Is A 3-In-1 Account? 5 Best 3-in-1 Accounts, Benefits And Disadvantages
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2 March 2022A 3-in-1 account is a combination of bank account, trading account and Demat account. A three-in-one Demat account allows you to hold securities (Demat account), purchase and sell them (trading account), and keep your own money (savings account). In a 3-in-1 account, the Demat account must be linked to one of the two central depositories, CDSL or NSDL. As a result, brokerage firms that are also part of a banking group provide three-in-one Demat accounts.
Before you decide to open a 3-in-1 account, here are the 5 best of 3-in-1 accounts in India, benefits, and disadvantages. Read on!
Trading with a 3-in-1 account is quite convenient. It’s even better than having a two-in-one Demat account. The three things you’ll need to trade with a 3-in-1 account are listed below.
- Purchase or sale of securities requires funds or money.
- Access to a trade portal that is either web-based or can be installed. This can be done through one’s trading account, and the gateway will help you buy or sell securities. The brokerage you pick to open your three-in-one account will provide the site, software, or app.
- Finally, either the National Securities Depository Limited or the Central Depository Services Ltd can open a Demat account for you. Your Demat account will be created at one of these central depositories, and you will be able to generate a certificate for your holdings to be held in an electronic format.
Now that we know what is a 3-in-1 account and how is it useful, here are the differences between a 3-in-1 and 2-in-1 accounts.
Difference Between 3-in-1 Account Vs 2-in-1 Account
The key difference between a 3 in 1 Demat account and a 2 in 1 Demat account is that a 3 in 1 Demat account comes with a bank account. It provides the trader with a somewhat higher level of convenience. All other functionalities are unchanged. A Demat cum trading account is a 2 in 1 demat account that allows a trader to trade with simplicity. It allows for trading convenience while remaining distinct from one’s bank account. A three-in-one account includes banking. Both types of accounts have the same demat and trading capabilities as long as they were opened with the same broker.
5 Best 3-in-1 Accounts Of 2022 In India
Here’s a list of 5 best 3-in-1 accounts of 2022 in India. Go through each of them in detail.
- Zerodha 3-in-1 Bank Demat Account (With IDFC First Bank)
Zerodha is India’s first discounted broker platform. They have partner offices all around India, with its headquarters in Bangalore. They began operations in 2010, but have already surpassed ICICI Direct and HDFC Securities to become India’s largest stock broker. Zerodha has partnered with IDFC first to launch a 3-in-1 bank demat account. With this account, you enjoy low brokerage, seamless fund transfer and all other benefits of a 3-in-1 demat account. The image below depicts the brokerage charged by Zerodha 3-in-1 bank demat account.
| Trading Type | Brokerage Charges |
| Equity Delivery | Rs. 0 |
| Equity Intraday | Lower of Rs. 20 per executed order or 0.03% |
| Equity Futures | Lower of Rs. 20 per executed order or 0.03% |
| Equity Options | Rs. 20 per executed order |
| Currency Futures and Options | Lower of Rs. 20 per executed order or 0.03% |
| Commodity F&O | Lower of Rs. 20 per executed order or 0.03% |
- Upstox 3-in-1 Bank Demat Account (With Indusind Bank)
After Zerodha, Upstox is the second largest brokerage platform based out of Mumbai. Upstox has tied up with Indusind bank to provide 3-in-1 demat accounts. This 3-in-1 demat account is known as IndusStox demat account and it sports a multitude of benefits such as zero account opening charges, no requirement to maintain minimum account balance and a customizable account number. The image below depicts the brokerage charged by Upstox 3-in-1 bank demat account.
| Trading Type | Brokerage Charges for Basic Plan | Brokerage Charges for Priority Plan |
| Equity Delivery | Rs. 0 | Rs. 0 |
| Equity Intraday | Lower of Rs. 20 per executed order or 0.05% | Lower of Rs. 30 per executed order or 0.10% |
| Equity Futures | Lower of Rs. 20 per executed order or 0.05% | Lower of Rs. 30 per executed order or 0.10% |
| Currency Futures | Lower of Rs. 20 per executed order or 0.05% | Lower of Rs. 30 per executed order or 0.10% |
| Commodity Futures | Lower of Rs. 20 per executed order or 0.05% | Lower of Rs. 30 per executed order or 0.10% |
| Equity Options | Rs. 20 per executed order | Rs. 30 per executed order |
| Currency Options | Rs. 20 per executed order | Rs. 30 per executed order |
| Commodity Options | Rs. 20 per executed order | Rs. 30 per executed order |
- ICICI Direct 3-in-1 Account
The ICICI Direct 3-in-1 online account allows you to trade in assets such as equity and derivatives on the NSE and BSE (currency & commodity). Other value-added services offered by ICICI include research advising, PMS, and asset management. You can also invest in Mutual Funds, Initial Public Offerings, and Life Insurance using this account. The image below depicts the brokerage charged by ICICI Direct 3-in-1 bank demat account.
| Trading Type | Brokerage Charges |
| Equity Delivery | 0.55% (including buy and sell) |
| Equity Intraday | 0.275% (the second leg is not charged) |
| Equity Futures | 0.050% plus a flat brokerage of Rs. 50 on the second leg |
| Equity Options | Rs. 95 per lot plus a flat brokerage of Rs. 50 on the second leg |
| Currency / Commodity Futures | Rs. 20 per order |
| Currency Options | Rs. 20 per order |
- HDFC Securities 3-in-1 Account
You can trade and invest in a variety of assets, including US stocks, with an HDFC 3-in-1 account. You can also benefit from value-added services such as loans secured by your stocks, bonds, and mutual funds.
The account’s disadvantage is that you must pay Rs. 1,999 to use the trading platform “Pro Terminal.” In addition, depending on the type of savings account you have with HDFC Bank, you may be required to maintain a minimum amount. The image below depicts the brokerage charged by HDFC Securities 3-in-1 bank demat account.
| Segment | Brokerage Charges |
| Equity Delivery Trades | 0.50% (for both buy and sell orders) OR a minimum of Rs. 25, ORMaximum of 2.5% on transaction value (both buy and sell) |
| Equity Intraday Trades | 0.05% (for both buy and sell orders) ORa minimum of Rs. 25, ORMaximum of 2.5% on transaction value (both buy and sell) |
| Equity Futures | 0.025% ORa minimum of Rs. 25, ORMaximum of 2.5% on transaction value (both buy and sell) |
| Equity Options | Higher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell) |
| Currency Futures | Brokerage of Rs. 12 per contract on each side |
| Currency Options | Brokerage of Rs. 10 per contract each side |
| Commodity Futures | 0.020% or minimum Rs.20 per order |
| Commodity Options | Rs.100 per lot |
- Kotak Trinity 3-in-1 Account
The USP of the Kotak Trinity 3-in-1 account is that it allows you to move any amount of money to your trading account on any given day with no upper restriction. After Market Orders can be placed and will be delivered to stock exchanges when the following trading session begins. However, Kotak Securities charges a Rs. 750 account opening fee and requires a 10-day wait to open the Trinity 3-in-1 account. The image below depicts the brokerage charged by Kotak Triity 3-in-1 bank demat account.
| Segment | Brokerage |
| Equity Delivery | 0.49%, Min 4 paise per share |
| Intraday (both sides) | 0.049%or Rs. 21 per executed order, whichever is higher Min 3 paise per share |
| Futures (both sides) | 0.049%Min 3 paise per share subject to a ceiling of 2.5% of the contract value |
| Options | Rs. 300 per lot |
Also Read: List Of Best Value Mutual Funds To Consider in 2022
Advantages & Disadvantages Of 3-in-1 Accounts
| Advantages | Disadvantages |
| Hassle free and fast transaction of funds | The broker charges are high |
| Reduced paperwork | Commodity trading not available |
| No separate trading or SB account needed. | The account opening charges are high |
| Availability of multiple investment avenues such as FD, MF, Shares, etc. | You are needed to maintain a minimum balance in savings bank account |
Also Read: 5 Ways To Diversify Your Investment Portfolio in 2022
Final Word
You will be able to effortlessly transfer funds between these accounts if you open a three-in-one account with the purpose of making your trading a lot more successful and rapid. The funds will be transferred in real time as well. As a result, if you come across a trading opportunity that has the potential to yield big returns, you can immediately transfer your cash and execute your trade in almost no time.
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FAQs on 3-in-1 Accounts
- What is a demat and trading account?
A demat account can be compared to your regular savings account where you store all your financial properties in a secure manner.
A trading account is an interface that allows you to buy and sell your financial securities kept in your demat account.
- Do I need both a demat and trading account?
Having a demat account ensures that all your valuable physical certificates are preserved in an electronic form. Opening a trading account allows you to make easy and on the go selling and purchasing of stocks whenever you want.
- Are there any annual charges to be paid for a Demat account and trading account?
Yes, there are annual charges imposed if you have a demat account and it varies from company to company. Trading accounts do not charge any annual fees.
- Is there any minimum amount that requires to be paid while opening a Demat account?
Some companies allow the opening a demat account free of charge, while some may demand for a nominal fee starting from 100 INR.
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