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Best 3-in-1 Demat Account Broker Comparison 2023

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Table of Contents

Comparison of Account Opening Process

Comparison of Brokerage Charges

Comparison of Features

Conclusion

Looking for the Best 3-in-1 Demat Account Broker Comparison 2023? A 3-in-1 demat account in India combines a savings bank account, trading account, and demat account in one package. Unlike traditional stockbroker accounts that separate the bank account (2-in-1 demat account), the 3-in-1 account automatically credits funds from share sales to the savings account, eliminating the need for transfer requests. When purchasing shares, similarly, funds can be directly utilized from the savings account. This integrated offering is especially advantageous for novice investors, offering a convenient and all-inclusive entry point to the stock market.

Click here to open an account with Upstox.

Comparison of the Account Opening Process of the Top 3-in-1 Demat Account Brokers in 2023

Based on the provided information, here is a comparison of the account opening process of the brokers:

1) Zerodha 3-in-1 Demat Account

  1. Open a normal Zerodha trading account online, which can be completed within 20 minutes without any paperwork.
  2. Once the trading account is opened, you can request to link it with an IDFC First bank account to make it a 3-in-1 Demat account.
  3. If you do not have an IDFC First bank account, Zerodha will assist you in opening one.

2) Upstox IndusStox 3-in-1 Demat Account

  1. Open a 3-in-1 Demat account with Upstox and IndusInd bank.
  2. Open only a trading account with Upstox and link it with a bank of your choice.

Read our article on Zerodha Vs Upstox Comparison 2023 – Trading & Demat Account Opening Charges, Plan Options, Brokerage Charges, Transaction Charges, Account Features, Trading Platform, Customer Service and more.

3) ICICI Direct 3-in-1 Demat Account

  1. Visit the ICICI Direct website and fill out the account opening form.
  2. Provide the required documents and complete the KYC process.
  3. Once the trading account is opened, the Demat and bank accounts will be linked automatically.

4) HDFC Securities 3-in-1 Demat Account

  1. Visit the HDFC Securities website and fill out the account opening form.
  2. Provide the required documents and complete the KYC process.
  3. Once the trading account is opened, the Demat and bank accounts will be linked automatically.

5) SBI Cap Securities 3-in-1 Demat Account

  1. Visit the SBI Cap Securities website and fill out the account opening form.
  2. Provide the required documents and complete the KYC process.
  3. Once the trading account is opened, the Demat and bank accounts will be linked automatically.

6) Axis Direct 3-in-1 Demat Account

  1. Visit the Axis Direct website and fill out the account opening form.
  2. Provide the required documents and complete the KYC process.
  3. Maintain a minimum quarterly balance of Rs 75,000 in your Axis Bank savings account to avail lower brokerage charges.

7) Kotak Securities 3-in-1 Demat Account

  1. Visit the Kotak Securities website and fill out the account opening form.
  2. Provide the required documents and complete the KYC process.
  3. Once the trading account is opened, the Demat and bank accounts will be linked automatically.

Please note that the account opening process and requirements may vary, and it is always recommended to visit the respective broker’s website or contact their customer support for the most up-to-date and accurate information.

Comparison of the Brokerage Charges of the Top 3-in-1 Demat Account Brokers in 2023

Based on the information available in 2023, here is a comparison of the brokerage charges of the brokers Zerodha, Upstox, ICICI Direct, HDFC Securities, SBI Bank, AxisDirect, and Kotak Securities. Here is a breakdown:

Zerodha Brokerage Charges

  1. Equity Delivery: Zero brokerage charges.
  2. Equity Intraday: 0.03% or Rs 20 per trade, whichever is lower.
  3. Equity Futures: 0.03% or Rs 20 per trade, whichever is lower.
  4. Equity Options: Rs 20 per trade.
  5. Currency Futures: Rs 20 per trade.
  6. Currency Options: 0.03% or Rs 20 per trade, whichever is lower.
  7. Commodity Futures: Rs 20 per trade.
  8. Commodity Options: Rs 20 per trade.

Read our article on Zerodha Brokerage Charges 2023 – Trading Account Opening Charges & AMC, Demat Account Charges, Hidden Charges and Fees and more.

Upstox Brokerage Charges

  1. Equity Delivery: 2.5% or Rs 20 per trade, whichever is lower.
  2. Equity Intraday: 0.05% or Rs 20 per trade, whichever is lower.
  3. Equity Futures: 0.05% or Rs 20 per trade, whichever is lower.
  4. Equity Options: Rs 20 per trade.
  5. Currency Futures: Rs 20 per trade.
  6. Currency Options: 0.05% or Rs 20 per executed order, whichever is lower.
  7. Commodity Futures: Rs 20 per order.
  8. Commodity Options: Rs 20 per order.

ICICI Direct Brokerage Charges

  1. Equity Delivery: 0.55% brokerage charges.
  2. Equity Intraday: 0.275% brokerage charges.
  3. Equity Futures: 0.05% to 0.03% brokerage charges.
  4. Equity Options: Rs 95/lot to Rs 35/lot brokerage charges.
  5. Currency Futures: 0.05% to 0.03% brokerage charges.
  6. Currency Options: Rs 25/lot to Rs 10/lot brokerage charges.
  7. Commodity Futures: Not available.
  8. Commodity Options: Not available.

HDFC Securities Brokerage Charges

  1. Equity Delivery: 0.5% or Rs 25, whichever is higher.
  2. Equity Intraday: 0.10% brokerage charges.
  3. Equity Futures: 0.05% or Rs 25, whichever is higher.
  4. Equity Options: Rs 100 per lot brokerage charges.
  5. Currency Futures: Rs 23 per contract brokerage charges.
  6. Currency Options: Rs 23 per contract brokerage charges.

SBI Bank Brokerage Charges

  1. Equity Delivery: 0.5% brokerage charges.
  2. Equity Intraday: 0.075% brokerage charges.
  3. Equity Futures: 0.05% to 0.03% brokerage charges.
  4. Equity Options: Rs 100 per lot brokerage charges.
  5. Currency Futures: 0.03% brokerage charges.
  6. Currency Options: Rs 30 per lot brokerage charges.
  7. Commodity Futures: Not available.
  8. Commodity Options: Not available.

AxisDirect Brokerage Charges

  1. Equity Delivery: 0.5% brokerage charges.
  2. Equity Intraday: 0.05% brokerage charges.
  3. Equity Futures: 0.05% brokerage charges.
  4. Equity Options: Rs 100 per lot brokerage charges.
  5. Currency Futures: 0.05% brokerage charges.
  6. Currency Options: Rs 30 per lot brokerage charges.
  7. Commodity Futures: Not available.
  8. Commodity Options: Not available.

Kotak Securities Brokerage Charges

  1. Equity Delivery: 0.49% brokerage charges.
  2. Equity Intraday: 0.049% brokerage charges.
  3. Equity Futures: 0.049% brokerage charges.
  4. Equity Options: Rs 300 per lot brokerage charges.

Note: The provided information is subject to change, and it is essential to verify the latest brokerage charges and other fees with the respective brokers directly. Additionally, consider other factors like customer service, trading platforms, research and analysis tools, and overall suitability for your investment needs while selecting a broker.

Comparison of the Features of Top 3-in-1 Demat Account Brokers in 2023

Here is a comparison of the features of the top 3-in-1 demat-account brokers:

1) Zerodha 3-in-1 Demat Account Features

  1. Seamless fund transfer between the trading account and the linked bank account.
  2. Low brokerage charges.
  3. No special procedure to open a 3-in-1 demat-account.
  4. Online account opening process.

Click here to open an account with Zerodha.

2) Upstox IndusStox 3-in-1 Demat Account Features

  1. Option to choose not to open a 3-in-1 account and link the trading account to a bank of choice.
  2. Similar brokerage structure to Zerodha.
  3. Benefits include no minimum balance requirement in the savings account, No demat-account opening charges, and customizable account numbers.

3) ICICI Direct 3-in-1 Demat Account Features

  1. Offers a wide range of services, including equities, derivatives, currency trading, insurance, FDs, and mutual funds. Highest number of customers among banks offering 3-in-1 demat-accounts.
  2. No commodity trading offered.
  3. Higher brokerage charges.

4) HDFC Securities 3-in-1 Demat Account Features

  1. Seamless transfer of funds between trading and bank accounts.
  2. Offers various investment options for both retail and institutional investors.
  3. Comparable brokerage charges.

5) SBI Cap Securities 3-in-1 Demat Account Features

  1. Provides primary and secondary capital market access to investors.
  2. Preferred by some senior citizens due to the trust in nationalized banks.
  3. Specific brokerage charges not mentioned.

6) Axis Direct 3-in-1 Demat Account Features

  1. Reduced brokerage charges to compete with discount brokers.
  2. Requires a minimum quarterly balance of Rs 75,000 in the savings account for lower rates.
  3. Specific brokerage charges not mentioned.

7) Kotak Securities 3-in-1 Demat Account Features

  1. Offers services in various segments, including broking and portfolio management.
  2. Provides SMS and research reports on the economy and recommended companies.
  3. Specific brokerage charges not mentioned.

It is important to note that this comparison is based on the information available in 2023, and you should conduct further research and verify the details with the respective brokers to make an informed decision based on your specific requirements and preferences.

Conclusion

Zerodha and Upstox appear to be providing the best 3-in-1 demat account options in India due to their low brokerage charges and the added benefits of an integrated demat account. However, it is essential to consider other factors like customer service, trading platforms, research tools, and additional charges before making a final decision.

Check out our Youtube video on Zerodha Account Opening 2023.

https://dematdive.com/3-in-1-demat-account/


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