Main features, details, how to open an SBI account

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SBI 3-in-1 Account: The State Bank of India, the country’s largest public sector lender, from time to time offers new policies and facilities for its clients to make doing business easier. This time, the bank launched a 3-in-1 account feature to help its account holders have a seamless trading experience. The 3-in-1 SBI Account includes a Savings Bank Account, Demat Account, and Online Trading Account – all at the same time – to help clients achieve a smooth paperless trading experience. The State Bank of India said in a note that people wishing to open an account can log on to its website for more details and questions.

In a tweet published on December 15, the State Bank of India said: Discover the power of 3-in-1! An account that combines a savings account, a Demat account and a trading account to give you a simple and paperless trading experience. “

A Demat and trading account is mandatory if someone is to start investing in the stock market, and demand for these accounts is high at a time when several companies are opening their initial public offerings or IPOs. Explore 3-in-1 account opening with the electronic margin feature. Get the benefits of Savings Account, Demat Account and Trading Account under one roof, the bank said.

3-in-1 SBI account with electronic margin function

The 3-in-1 SBI account also has an electronic margin feature for traders. Under the policy, SBI account holders can trade with margins as low as 25 percent, the bank said in a note. They can also defer their position for up to 30 days using cash or collateral to benefit from the required margin required. Customers can choose to go for delivery and get the stocks to a demat account or compete against each other anytime before expiration, the bank said on its website.

Main features of the 3-in-1 SBI account

The main features of State Bank of India 3-in-1 Account include the following:

a) Lower Electronic Margin, which is a leveraged trading facility

b) In addition, account holders will be able to switch to delivery or rendering

c) Clients with SBI 3-in-1 account will be able to carry their positions

d) Margin can be in the form of cash or stocks, giving the account holder the freedom to choose their best fit

Documents required to open a 3-in-1 SBI account

a) PAN or form 60

b) Photography

c) One of the officially valid documents such as below:

I. Passport

ii. Proof of possession of Aadhar

iii. Driver’s license

iv. Voter ID card

v. Work card issued by the MNREGA

vi. Letter issued by the National Population Register containing details of name and address

How to open a 3-in-1 SBI account

The process of opening the 3-in-1 SBI account has been simplified by the bank to provide a seamless customer experience. Follow the steps below to open your account:

Step 1: Log into the trading account through the SBI Securities web platform

2nd step: Go to the order placement menu (Buy / Sell)

Step 3: Select the product type as electronic margin when ordering

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