Streamline your stock trading in 2023: The advantages of a 3-in-1 account

Did you ever juggle multiple financial accounts, trying to keep track of your investments and transactions across platforms? It can be a daunting task. But what if there was a way to simplify your financial management so you could seamlessly operate your Demat, trading, and bank accounts all in one place? 

Introducing the 3-in-1 account – a joint offering by IDFC FIRST Bank and ICICI Securities that will transform how you manage your investments. Bid goodbye to the hassle of switching between accounts and say hello to a seamless and streamlined approach to financial management.

What is a 3-in-1 account?

A 3-in-1 account offers a simplified way to manage your investments by allowing you to easily combine your ICICI Securities trading account with your IDFC FIRST Bank maintained Savings Account and Demat account, registered with SEBI as a Depository Participant.

The integration makes it easier to track your investments, as all your financial transactions are consolidated in one place. You can conveniently monitor your trading activities, view your bank balance, and manage your account holdings from a single dashboard. It saves time and effort, granting you greater control and flexibility over your investments.

Besides, this 3-in-1 account offering comes with various benefits, such as lower brokerage charges, no account opening charges,  no annual maintenance charges for the first year, and a seamless and hassle-free transfer of funds /securities between accounts. Hence, it is an attractive and convenient solution for those who know how to invest in the stock market and maximise their investment potential.

Benefits of a 3-in-1 account

A 3-in-1 Demat account can be a good option for investors who want the convenience of having all their financial accounts in one place, as well as the following cost savings and other benefits:

1. Create an account easily

Customers can benefit from a streamlined and efficient process for opening new financial accounts. It saves time and effort, making the process more convenient. With simplified and automated processes, customers can enjoy a positive experience with their 3-in-1 accounts.

2. Do away with the minimum balance

A 3-in-1 account with no minimum balance requirement offers excellent flexibility, accessibility, and convenience while promoting financial inclusion and reducing financial stress. Since there are no minimum balance fees or penalties, customers can manage their finances and allocate their resources to suit their needs and preferences.

3. Retain your investments

Holding your investments allows them to grow in value over time. When you hold onto your investments, you can ride out short-term market fluctuations and volatility, which can be a natural part of investing. Additionally, it can help you avoid transaction fees and other costs associated with buying and selling securities too frequently. Retaining your investments for a more extended period may also give you the advantage of compound interest and other forms of investment growth.

4. Nominate your loved ones

3-in-1 account holders can ensure that their investments and assets will be transferred to their preferred beneficiaries in the event of their death by designating (up to three) loved ones as nominees. The account holder and their family will feel more at ease knowing their financial legacy will be safeguarded and preserved.

5. Review your nomination details easily

With just a few clicks, this feature gives customers easy access and management of their nomination details, enhancing transparency and control. It enables account holders to stay updated on the status of their nominations and make immediate changes if needed. As a result, their nomination details remain up-to-date and accurate, providing greater security and protection for their assets and investments.

6. Buy and sell equities

A vital benefit of this feature is that it allows customers to access a wide range of equities and other investment products through a single account. It can help simplify the investment process, making it easier for investors to manage their portfolios and make informed investment decisions. It can help investors achieve their financial goals and build a robust diversified portfolio by simplifying the investment process and providing real-time trading capabilities.

7. Access modern trading tools

With the most advanced trading tools at one’s disposal, it is easy to make timely investment decisions. Investors can make informed investment decisions quickly and efficiently with real-time market data, technical analysis tools, and risk management strategies. Benefit from greater transparency, control, and flexibility.

8. Get a brokerage rate discount with ICICI Direct Prime

ICICI Direct Prime offers a significant discount of over 50% on brokerage rates, enabling investors to make more profitable trades. By taking advantage of this discount, investors can make their investments go further, potentially leading to more significant long-term gains. This cost-saving benefit can be a game-changer for those who engage in frequent trading activities, as it can help to reduce the overall costs associated with trading and increase their returns.

9. Track your investments while on the move

With the ease and accessibility provided by netbanking and mobile apps, keeping tabs on your investments is now more convenient than ever before. Whether you are out and about or sitting at home, you can quickly and easily monitor your investments with just a few clicks on your device. It saves you time and enables you to make informed decisions about your portfolio based on real-time updates. By leveraging these technological tools, you can make smarter investment choices, mitigate risk, and optimise your returns.

A 3-in-1 account offers several other benefits, such as reduced paperwork, faster transactions, better investment control, and cost savings. Overall, it can be a highly convenient and cost-effective way for investors to manage their investments more efficiently. 

Features of a 3-in-1 account

IDFC FIRST Bank 3-in-1 account is a versatile and indispensable tool providing investors with a one-stop shop for all their investment needs. 

With a 3-in-1 account, investors can enjoy the following features:

• No AMC for the first year

Waiving the annual maintenance charge (AMC) for the first year allows investors to get a head start on their investments without incurring additional costs on their 3-in-1 accounts.

• Earn interest on the hold amount

IDFC FIRST Bank 3-in-1 account allows you to earn interest on your hold amount while serving as a powerful tool in your investment portfolio, helping you build wealth more effectively and efficiently.

• Prime brokerage plans

IDFC FIRST Bank 3-in-1 account offers prime brokerage plans for investors looking for a comprehensive investment platform with advanced tools and services to help them achieve their investment goals.

• E-ATM facility

This allows you to withdraw money from your 3-in-1 account as and when needed. This feature is handy for investors who need quick access to their funds to take advantage of investment opportunities or meet urgent financial needs.

• Instant Hold and Release – Pls elaborate

• Research Support – Provided by ICICI Securities Limited – Pls elaborate

Conclusion

Are you looking for a comprehensive investment platform that offers convenience, efficiency, and value-added services to help you achieve your investment goals? Look no further. IDFC FIRST Bank 3-in-1 account is an excellent choice for investors. By choosing this, investors can potentially maximise their returns, reduce their costs, and manage their investments more effectively. Get started today!

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.