The 3-in-1 account consists of 3 separate accounts open together including a Bank Account (a normal bank account where your money resides), a Trading Account (a share broker account which allows you to trade in equity, F&Oetc. parts) and a Demat account (it holds the equity shares bought by you)
While the cost of trading is commonly high with the companies offering 3-in-1 account, the hassle-free investing and integrated financial result provides special advantages. These accounts are specifically good for people who invest in the stock demand for long term base or people who don’t mind paying a nominally more brokerage for the hassle-free service.
If you’re a beginner in the stock market or an investor in the demand (not a regular trader) also this type of account is highly recommended.
Other benefits of 3-in-1 account include
- Investment and trading in Equity
- Investment in IPO’s
- Online Mutual Funds investment
- Secondary Trading (Trading in Futures & Options or F&O)
- Saving Account can be used as normal bank account
- Insurance, NPS, Tax Services & many more financial services.
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1. Which bank is best for account in India?
Best Bank Accounts in India
- State Bank of India.
- Punjab National Bank.
- Union Bank of India.
- HDFC Bank.
- ICICI Bank.
- Kotak Bank.
- Bank of India.
- Axis Bank.
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2. Who is the No 1 bank in India?
HDFC Bank is the No. 1 bank in india
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3. Which bank account is safest in India?
- State Bank of India (SBI)
- HDFC Bank
- ICICI Bank
- Bank of Baroda
- Axis Bank
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4. Which bank is best for accounts?
- Best for no/low fees: NBKC Bank.
- Best for unlimited ATM fee rebates: LendingClub Bank.
- Best rate for no balance requirements: Capital One.
- Best for APY guarantee: TIAA Bank.
- Best for sign-up bonuses: Chase Bank.
- Best for cash back: Discover Bank.