In this article, we will discuss Axis Bank 3-in-1 account vs ICICI Bank 3-in-1 account in detail. Before discussing the difference we will reiterate both accounts in brief. In case you would like to check these accounts in detail you can refer to these links:
ICICI Bank 3-in-1 Account
As the name suggests, 3-in-1 offers the facility of three accounts combined in one to offer seamless and efficient trading cum investment experience to their customer. One of the oldest and popular 3-in-1 accounts in the trading market. Therefore, the account carries the legacy of ICICI Bank as this product is offered from ICICI securities hence you can expect excellent customer service and transparency in each transaction.
List of features which this account promises to their customers:
- Multi accessibility via varied modes as web, mobile or over the phone call.
- Live streaming of quotes or share price with Trade Racer.
- Various brokerage plan meeting the need of different set of investors.
- You can track your all investments at one place.
Axis Bank 3-in-1 Account
Axis Securities Limited’s 3-in-1 accounts also offer more or less the same features to keep attracting customers to their trading platform. Nothing new they provide that would give an edge over other 3-in-1 segments. Here are the key benefits which Axis Direct offer to their customers:
- Provide a simple and efficient way of investing via a 3-in-1 account in varied avenues like equity, MFS, IPO, derivatives, ETFs, bonds, etc.
- Customers can conveniently use the platform by different means such as mobile phones, tablets, or desktops.
- In order to help you with the right knowledge, of trading and investment, they do provide extensive research reports prepared by experts market professionals.
- You also axis direst wise advisor having mutual funds expertise to help you with your investment needs.
Axis Bank 3-in-1 vs ICICI Bank 3-in-1 Account
Now let’s discuss the main business of this topic which one would like to invest in before opening an account with both bank’s subsidiaries:
|Demat Services||ICICI Direct||Axis Direct|
|Depository Source||NSDL & CDSL||CDSL & NSDL|
|Account Opening Charges||Zero to Rs. 975||Rs.999|
|Demat AMC Charges||Zero for First years, 2nd year onward Rs. 700 plus Gst||Rs.650 per annum|
|Margin Money||Minimum Rs.20,000||Rs.25,000|
|Offline to Online||No||No|
|Brokerage Charge & Fees||ICICI Brokerage plan||Axis Brokerage plan|
|Equity Delivery Trading||0.55%||0.20% – 0.60%|
|Equity Intraday Trading||0.03% – 0.05%||0.03% – 0.05%|
|Commodity Options Trading||Rs.20 per order||Rs.50 per order|
|Equity Futures Trading||0.03% – 0.05%||0.03% – 0.05%|
|Equity Options Trading||Rs.20 per lot||Rs.10 per lot|
|Currency Futures Trading||0.03% – 0.05%||0.03% – 0.05%|
|Currency Options Trading||Rs.10 – Rs.35 per Lot||Rs.10 per lot|
|Minimum Brokerage||Rs.35 per Trade||Percentage of Transactions|
|Call N Trade Charges||Rs. 50 per trade||Rs.20 per call|
If you compare both accounts in the long run ICICI Direct will be a better option in terms of services and brokerage plan basis my experience having dealt with both security companies. In case you like to make most of the trading, then you may think of Zerodha and Upstox as well.
It’s a facility offered by icici direct in which once you execute a sell order, money will be credited to your linked bank account in the next 30 minutes. Thus, the customer is not required to wait for T+2 days.
It is a basic service Demat account that comes with no or low annual maintenance charges. Usually meant for non-active investors. As per SEBI guidelines, the charge structure is based on the value of holdings in the accounts:
1) No AMC will be charged if the holding value is less than Rs50000/-
2) Between Rs50000 to Rs.200000, Rs 100 may be charged.
3) In case exceeding more than Rs. 2lacs at any date, your BSDA accounts get converted into regular accounts as per company required charges will be applicable.
The best approach would be to use a stock screener. By using this option, you can apply a few filters (like PE ratio, debt to equity ratio, market cap, etc) specific to the industry which you are analyzing and extract an exhaustive list of stocks based on your criteria and risk appetite.