Have you heard about 3-in-1 Demat accounts in India? Even if not, here you will gain plenty of useful information on which brokers provide these multiple features.
Bank accounts traditionally serve one function – protecting their clients’ money. Since 2006, however, people investing in stock markets has increased exponentially and more people are opening bank accounts specifically designed for trading accounts.
2-in-1 accounts combine bank and trading accounts into one, known as a 2-in-1. For an enhanced experience, consider opening up a 3-in-1 Demat account; here is more information that could come in handy! If this interests you further read on and we have provided plenty of things which might prove helpful!
What Is a 3-in-1 Account? A three-in-one account combines three accounts into one: bank (traditional bank account for safekeeping money), demat (used to hold shares purchased by you), and trading (which allows users to trade in equity, commodity, F&O etc) all within the same account.
Attraction of demat + trading + savings accounts lies in their unification, providing seamless interaction for users across accounts and a comprehensive array of investment products available through them.
How does it work? When purchasing stocks, funds are directly deducted from their savings bank account and stored in Demat account. On selling, however, profits/return on investment are transferred back into your bank account directly through trading account.
As is usually the case, using such an account is costly. Banks usually impose an increased brokerage charge for intraday and delivery transactions conducted using 3-in1 demat accounts.
But to enjoy additional features, additional costs must be borne? On the contrary, however, demat and trading accounts provide numerous advantages that enable people to invest more efficiently in the stock market.
As an active investor in the stock market, having access to hassle-free services like this one can be invaluable – even if they cost more.
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