What is Upstox 3-in-1 or indusind 3-in-1 Account?
Last year discount broking firm Upstox has launched a 3-in-1 account by joining hands with Indusind banks. To provide seamless trading and banking experience, upstox has come up with a 3-in-1 account bundled in one to allow open trading, Demat, and Bank account. This account is also referred to as Industox account.
Offers a few exclusive benefits which no other broking firms provide to their customers:
1) Use a smart transfer facility in which users can allocate a certain amount for trading and continue to earn interest on unused funds.
2) No need to maintain a minimum balance in the saving bank account holding with Indusind bank.
3)You will be awarded for the transactions carried out on debit cards. Those rewards can be utilized to cover brokerage charges.
4) Real-time fund transfer from saving to trading account without cumbersome authentication.
5) No capping on fund transfer.
6) Zero charges on call N trade and free up to 10 calls in a month.
7) Can view saving account balance in the trading account itself and track all assets in one place.
8) Make your special dates your lucky account number.
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Charges
List of charges applicable on 3-in-1 account:
| Description | Charge |
|---|---|
| Upstox Demat Opening Charges | Zero |
| Upstox Trading Account Opening Charges | Zero |
| Indusind Saving Bank account opening charges | Zero |
| Upstox Trading Account AMC Charges | Zero |
| Upstox Demat AMC Charges | Rs.300 per annum +GST |
| Brokerage Charges | |
| Equity Delivery | Rs.20 or 2.5% whichever is lower on Equity Delivery |
| Equity Intraday | Rs.20 per executed order or 0.05% (whichever is lower) |
| Equity/Currency/Commodity Futures | Rs.20 per executed order or 0.05% (whichever is lower) |
| Equity/ Currency/Commodity Options | Flat Rs.20 per executed order. |
| Digital Gold | Zero |
| Mutual Funds | Zero |
| IPOs | Zero |
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What is the Minimum Balance for 3-in-1 Account?
With Upstox 3-in-1 account users are not required to keep any balance in the IndusInd saving bank account and it will be a zero balance account for a lifetime until the Upstox trading account is live.
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How Do I Open a Upstox 3-in-1 Account?
Here are the steps to open a 3-in-1 account with Upstox:
1) Visit the URL: https://upstox.com/3-in-1account/IndusStox/register.
2) Click on the Signup option by entering your email address and mobile number.
3) Verify the OTP received via SMS and email.
4) Key in your personal details as asked.
5) Verify the Aadhar with OTP and complete the IPV verification by scanning a video of you with your aadhar.
5) Once the above steps are done download the POA and send it to their address.
6) After which you’re ready to use the Upstox 3-in-1 account for trading purposes.
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FAQs
It’s not possible at Indusind bank to link an existing account with a Upstox account to convert it into a 3-in-1 account. Hence to avail of all these benefits you need to open a new account with Indusind bank as suggested in the above account opening steps.
Yes, an existing account with Indusind can be converted into a 3-in-1 account with prevailing features but no zero balance account.
As per bank policy, they do charge Rs.249 + Gst but the same get reversed on the first swipe of the debit card.