3 in 1 accounts

General
1

Which are the discount brokers having 3 in 1 accounts facility?
Why zerodha not coming up with 3 in 1 accounts feature ?
This way clients can safely keep the money in bank account , day trade intraday , and earn interest on the money too as the money is lying in the bank account!!!

2

zerodha already have 3 in 1 account with IDFC bank , but what problem means there is no instant redemption available, like icici,hdfc thats a problem

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3

@nithin @siva Why IDFC Bank, Why not big banks like sbi, hdfc?

4

They already have their own subsidiaries, sbicap , hdfcsec

5

How are they related :thinking: I meant to ask why did zerodha ask idfc bank out of all other banks to hold our money, with idfc you still have higher risk of it going bankrupt

6

Hi Aditya,

The 3-in-1 integration needs multiple integrations between Zerodha and the bank. The older banks would take longer to build such tech due to legacy issues. IDFC First being a newer bank started in 2015 was in a better position to offer this. Having said that the bank does not lack experience or credibility, at the helm of the bank is Mr Vaidyanathan who had built ICICI Bank’s Retail Banking business from 2000-2009. Having said that the securities kept in the banks are insured only upto Rs.1.00 lakh under DICGC, however your securities held in your Demat is insured upto Rs. 25 Lakhs under the IPF( Investor Protection Fund) of SEBI. More reason to not leave the money idle in your bank account when you have multiple avenues like equity, mutual funds, GSECs etc.

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7

Thanks for the answer