Recently, Zerodha has done tie up with IDFC bank to start offering 3 in 1 account. The 3 in 1 account comes with the IDFC Bank Account, Zerodha Trading, and Demat Account.
Opening a 3-in-1 account with Zerodha and IDFC bank is an online process. You need to open IDFC bank account first and then open Zerodha trading and demat account via an online process. Once you complete the online account opening process with Zerodha (Post e-signing), you can download pre-filled 3-in-1 POA form from the account opening dashboard. You need to print, sign and send it to the Zerodha sales team on the below-given address:
In case you already have Zerodha 2-in-1 account and want to avail 3-in-1 account services, it is only possible if you already have IDFC Bank Account as the primary Bank Account for your Zerodha Trading and Demat Account. The steps to change your 2-in-1 account to 3-in-1 account will be as follows:
The 3-in-1 is a special facility which is given to IDFC bank customers. Account opening charges are same as 2-in-1 account opening charges which are Rs 300 for Trading and Demat account, Rs 200 for commodity account. This means there are no additional charges for Zerodha 3-in-1 account opening.
Yes, you can convert your existing account to a 3-in-1 account if the primary bank account linked at Zerodha is an IDFC bank account. If not then first open an IDFC Bank Account and change your primary Bank linked to Zerodha as IDFC bank. You need to provide new POA (Combined POA) to Zerodha to operate your 3-in-1 account.
There are some SEBI and RBI guidelines, so Zerodha has tie-up only with IDFC bank to provide such facility.
No, it’s not mandatory. It’s up to the client, if you wish to use the special benefit of 3-in-1 account, you can convert your account else you can use 2-in-1 account benefit.
No, the opening a bank account is a separate process. So you need to open IDFC bank account of your own, Zerodha can take care of opening Trading and Demat account, and combined POA process.
Last updated on 19th May 2019