Upstox and IndusInd Bank 3-in-1 account

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Upstox 3-in-1 account

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 a 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 the Upstox 3-in-1 account including the account opening process, charges, benefits, and others.

Upstox and IndusInd Bank 3-in-1 account

Upstox and IndusInd Bank partnered to enable traders & investors to open a 3-in-1 account. 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 with a more simplified and seamless trading experience.

Upstox and IndusInd Bank 3-in-1 account Opening Eligibility

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 IndusInd Bank 3-in-1 account.

Upstox and IndusInd Bank 3-in-1 account opening benefits

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 3-in-1 account of Upstox and IndusInd Bank offers trading & investment across various asset classes such as equity, F&O, commodities, and currency segments as well.
  • Upstox doesn’t charge any brokerage on trading in the equity delivery segment means users can avail zero brokerage benefits.
  • Intraday trading activities are charged at maximum ₹20 each order.
  • Although Upstox call & trade charges are ₹20 each call, however, with having Upstox 3-in-1 account, one can enjoy the benefits of free call & trade services up to 10 calls every month.
  • An individual doesn’t have to keep a minimum balance in their IndusInd savings bank account.
  • IndusStox 3-in-1 e-trading account provides a Smart Transfer facility wherein one doesn’t need to transfer funds from his/her savings account to trading account as users just need to allocate money for trading without any manual fund transfer requirement.
  • There is no upper cap limit on the maximum fund transfer.
  • An individual can enjoy interest advantages on the funds allocated from his/her bank account to for trading purposes. For instance, if an individual has allocated ₹300,000 to the trading account but used only ₹200,000 then the remaining or unused balance of ₹100,000 will be reflected in your bank account by the end of the day and will also attract
  • You can track all of your investments across equity, F&O, bonds, mutual funds, bonds, and others at one single place. Thus, trading becomes more easy and rewarding.
  • My Account My Number (MAMN) facility enables individuals to get a customizable account number with your preferred date (i.e. birthday, anniversary, etc.), mobile number and others.
  • Users can earn virtual rewards on their debit card transactions that are redeemable against Upstox brokerage charges.
  • On IndusInd savings bank account, people can get a Titanium debit card and can avail of the benefits of swipe and pay anywhere for shopping, restaurants, and movies.

How to open Upstox and IndusInd Bank 3-in-1 account?

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:

  • At the very first step, you have got to enter two details, mobile number, and email address.
  • After entering the above details, you will receive an OTP for verification purposes. Enter the OTP and sign in.
  • Later, you have to enter personal details such as PAN number, birthdate, and referral ID (if any) and press on the “Next” button. The system will automatically fetch such details.
  • Upload signature and Income Proof (optional).
  • If your Aadhar card is linked with your mobile number, then you can use “e-Sign with Aadhar OTP” otherwise, you can click on the alternative wherein you have to download and print the form, sign it and courier it to the Upstox office in Mumbai.
  • During E-sign with Aadhar, you have to upload your Aadhar card both front and backside.
  • Once your Aadhar card gets verified, complete IPV verification process wherein, you have to record a video of yourself showing your Aadhar card.
  • After IPV verification, your 3-in-1 account is ready to start Trading.
  • You have to send the Power of Attorney (POA) to Upstox to activate your IndusStox 3-in-1 account.

Upstox 3-in-1 Account Opening Charges

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.

Upstox 3-in-1 Account Opening Documents

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;

  • Duly filled application form.
  • Applicant’s passport size photograph and signature
  • PAN Card
  • Aadhar Card

Upstox and IndusInd Bank 3-in-1 Account Brokerage

Being a discount broker, Upstox is one of the top most 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 ₹20/order or 0.05% (whichever is lower). Similarly, futures & options are also charged at maximum ₹20 each order.

Final thought

Upstox and IndusInd Bank 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 2nd Jul 2020

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FAQs

  1. 1. Does Upstox provide a 3-in-1 account opening facility?

    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.

     

     

  2. 2. How to open Upstox 3-in-1 Account online?

    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;

    • Enter fields such as mobile number & Email ID.
    • Complete OTP based verification process.
    • Enter personal details i.e. PAN Card, birthdate, gender, income etc.
    • Upload PAN Card, signature etc.
    • Complete E-sign process through Aadhaar based verification process.
    • Complete In-person verification process.
    • Send POA to the broker and start Trading.

     

     

  3. 3. What is Upstox/IndusStox 3-in-1 account Smart Transfer?

    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.

     

     

  4. 4. What are Upstox 3-in-1 account brokerage charges?

    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.

     

     

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  2020-03-22T22:35:36+00:00






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