Upstox is a discount brokerage house in India that offers low cost trading, free demat account, and highly advanced trading platforms i.e. Upstox Pro Web and Upstox Pro Mobile trading to their clients. Although the broker facilitates users to open a Free Demat Account and Trading Account, however, the only setback for investors was that the broker doesn’t provide a 3-in-1 account opening facility but recently, on March 10, 2020, with tie-up with IndusInd Bank, Upstox has successfully introduced IndusStox 3-in-1 account. The 3-in-1 account with Upstox is a bundle of Upstox Demat Account, Upstox Trading Account, and IndusInd Bank Account to provide seamless trading, investment and banking experience to users. In this article, get the complete information about Upstox 3-in-1 account including the account opening process, charges, benefits, and others.
Upstox is not a part of any Banking group therefore, to enable traders & investors to open a 3-in-1 account, the broker has partnered with India’s growing mid-sized bank, IndusInd Bank. The Upstox IndusInd Bank 3-in-1 account, called IndusStox 3-in-1 account is a single account integrating demat, trading and bank accounts. As all accounts are rolled into one account that provides users more simplified and seamless trading experience.
As the discount broker, Upstox serves both the Indian as well as NRIs to open an account to trade & invest in equities, futures & options, commodities, currency, and other financial products. Therefore, both the Indian residents and NRIs can open a Upstox 3-in-1 account.
The Upstox IndusInd Bank 3-in-1 account, referred to as IndusStox 3-in-1 account comes with ample of benefits to users that are pointed below;
The Upstox or IndusStox 3-in-1 account provides twin benefits of low-cost trading with a discount broker and banking security. The account opening process is so simple and convenient as the broker offers an online account opening service. To open a 3-in-1 account with Upstox, follow the below-provided process;
To get the complete step-by-step guide about Upstox 3-in-1 account opening process, you can check the demo here;
One of the most important considerable points is that the Upstox 3-in-1 account opening is completely free at zero account opening charges. The unique 3-in-1 preposition integrates your demat, trading, and bank account together.
To open Upstox 3-in-1 account in partnership with IndusInd Bank, a client has to submit the following documents mandatorily, listed here as under;
Being a discount broker, Upstox is one of the topmost low-cost brokerage service providers in India. Thus, cost competitiveness is one of the key success drivers of the business. Talking about Upstox brokerage charges, Upstox charges nil means zero brokerage fee for trading in the equity delivery segment. However, brokerage charges for equity intraday trades including both buy and sell orders are charged at Rs. 20/order or 0.05% (whichever is lower). Similarly, futures & options are also charged at maximum Rs. 20 each order.
Upstox or IndusStox 3-in-1 account is completely free as the discount broker doesn't levy any account opening fee. The broker further provides ample of benefits such as free call & trade, brokerage-free trading in equity delivery segment, Smart Transfer, no minimum balance requirement in saving bank account and can also earn interest on unused money.
Last updated on 22nd Mar 2020
Yes, Upstox provides a 3-in-1 account opening facility to clients. As the broker offers such a facility through a tie-up with IndusInd Bank, therefore, its 3-in-1 account is called as IndusStox 3-in-1 account, an integrated platform for Upstox Demat Account, Upstox Trading Account, and IndusInd Bank Account. Anyone can open a free 3-in-1 account with Upstox at zero charges.
You can open an Upstox 3-in-1 Account online that saves your time and offers greater convenience.
Steps to open Upstox/IndusStox 3-in-1 account;
Smart Transfer on IndusStox/Upstox 3-in-1 account is a unique feature that facilitates traders to trade without any need to transfer funds externally from their IndusInd savings bank account to Upstox Trading Account. Unlike normal circumstances where clients have to transfer money from their bank account to trading account, in a Smart Transfer facility, users just have to allocate funds for trading purposes without any fund transfer fee. For instance, a client has Rs. 800,000 in his IndusInd bank account and wants to execute trade worth Rs. 300,000 then he will just allocate the amount for trading on a single click without its actual transfer to the trading account. The best part is till the time you havenít used the allocated money or used only a partial amount like Rs. 100,000 then on the remaining balance worth Rs. 200,000 along with your savings bank account balance, in this case, it is Rs. 500,000, you will earn interest. By the end of the day, left or unused money is credited to the bank account.
Upstox has pioneered in the low cost brokerage plans. It charges zero brokerage for equity delivery means the broker offers free delivery trades, however, trading in other segments such as intraday trade and futures & options are charged at maximum Rs. 20 each order.