With 24X7 Neft starting from Dec 16th and IMPS.
Addition of funds will be immediate.
will withdrawal request be processed on same day since NEFT operates 24x7 ? @siva
What other benefits do these 3 in 1 account provide ?
I know this is an old post. But if anyone still looking at this, the only benefit if any of opening a 3-in-1 a/c of IDFC First Bank - Zerodha is the no-fee for transfer of funds from Bank to Zerodha. Apart from this, there is no other benefit & we do not earn any interest either for funds in Zerodha a/c after transfer.
I believe IndusStox (Indusind Bank & Upstox) 3-in-1 is a real 3-in-1 a/c where you can earn interest as well.
Still unable to figure out why Zerodha provides such an account.
How industox account is working ?
Dont know, but planning to open 1 soon.
Wish Zerodha had really started a true 3-in-1 A/c but they are now the biggest player in market & so just a marketing gimmick of 3-in-1 is enough for them I suppose.
If anyone is using IndusStox, would be nice to know their views.
I have been using Industox since November end of the last year and I must say that it is too good. It provides hassle free transfer of funds without any charges unlike the limit on the amount of transfer using UPI. The best feature is that if you trade using 3 in 1 account, and EOD if you are in profit, the whole capital will be in your bank account itself and can only trade with the profits earned which prevents us from over trading. So far, it is the best I have experienced.
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This IndusStox 3in1 sounds good. Had a similar experience with ICICI 3in1
@nithin @Bhuvan - can you please consider creating this facility? The withdrawal in 3in1 should be really time. Anyway you won’t earn much by lending my funds in overnight markets due to tax on transactions now. And we should be rightfully allowed to earn interest on unutilized money.
does wisdom capital and sasonline has 3in1 facility ?
We are working on allowing real time withdrawals up to certain limit.
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That’s awesome! Can you please let us know by when this is expected?
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Can’t give any timeline on it.
Opened a 3-in-1 IndusStox account & been trading in it for a week now.
2 things I liked so far is:
- I earn interest on money not used for trading. Instead of losing out like what happens in Zerodha
- Option chain with OI is displayed in the Upstox web portal & can place orders directly from there
1 thing which I dint like so far:
- Cant view the Bid\Ask when we are in the Order placement window
Sincerely hope Zerodha starts a true 3-in-1 Account, instead of the present marketing gimmick which it has with IDFC First Bank
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Very bad, when Angel can provide realtime withdrawal zerodha which boosts about being larger broker and with latest tech is lacking to implement this feature.
@iTrader, can you help me with a query please? I am also contemplating moving a part of my trading capital to upstox, as I believe i am loosing some serious interest money (3~6%) when I keep my funds idle in Zerodha trading account (for a better trading opportunity)
In the 3-in-1 account of IndusStox, how does the MTM work for futures?
eg.
- if I start with 10 Lakhs in IndusInd savings account,
- and then do a smart transfer of 8 lakh into Upstox trading account,
- and then buy 1 nifty lot (75 units) at (say) 11000 price with some margin (assume Rs 1 Lakh) and hold it overnight, with closing price of 10800 (this a MTM loss of Rs 15K)
how does my end of the day balance at my IndusInd bank account (the part that earns interest) showup as
10L-8L or
10L-1L-15K, or
10L-15k?
Thanks in advance
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@siva as you are working with IDFC bank to make seamless fund transfer and ASBA , they recently added to view our holding in IDFC internet banking itself thats cool feature , we need to see a seamless fund transfer feature and ASBA as 3 in 1 account required
@bshubhranshu so far I have not held overnight position only Intraday, so this is what happens in that.
Upon Smart Transfer, Bank A/c will show the transferred funds in a separate line, trading A/c shows funds as available.
At the end of the day (I guess somewhere during midnight) the funds which are not used for trading gets reversed back i.e. Trading A/c shows zero (if we have made any profit, the profit remains in Trading A/c. We need to transfer this profit manually to bank if required), the separate line in Bank A/c is removed & becomes a consolidated single line balance. The next trading day, we need to do Smart Transfer again to have money in Trading A/c
In the case which you mention, I believe the logical thing which would happen is:
Day End balance = Initial Balance - Margin Money - MTM. The Day End balance will be reversed to the bank.
Anyway will update this thread when I hold an Overnight position & check if my above understanding holds good.
Hope the above was helpful in someway.
(Edit: The Smart Transfer is not available for Commodity Segment as of now. Don’t know if this will be added for Commodity Segment or not)
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@bshubhranshu just to keep you updated & those others who maybe interested.
For overnight position as guessed by me in my previous post, the formula for Day End Balance holds true. Also when you square off the position on next / subsequent days, the margin & profit / loss will be returned to your Trading A/c. I notice the settlement happens in morning around 5 or so.
But make note the above money remains in your Trading A/c & needs to be transferred back to the Bank A/c manually although we had transferred the initial margin money using Smart Transfer.
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Waiting for true 3-in-1 like HDFC Securities, Upstox-Indusind etc.
I also have this same question. Recently I have updated my primary bank account in zerodha to IDFC First. Would it also be updated in MF’s invested via coin. When I asked the Mutual Fund CS team, they asked me to contact the DP for the update. since these are invested in Demat mode. How would i know the bank change is reflected in these invested MF’s?