Zerodha IDFC Bank 3 in 1 account

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Recently, there has been a partnership between IDFC Bank and Zerodha with an objective to cater to Zerodha IDFC First Bank 3-in-1 account. Through this, the investors can have the seamless banking & investing experience.

The Zerodha IDFC first bank 3-in-1 account offers IDFC Bank Account, Zerodha Trading, and Demat Account.

There is an ease in opening a Zerodha IDFC-Bank 3-in-1 account, as all the process is online. The primary step is that you need to open IDFC bank account first and then open Zerodha trading and demat account via an online process.

Once you have completed the process of account opening with Zerodha (Post e-signing), after that you can download pre-filled 3-in-1 POA form available in the account opening dashboard.

You need to print, sign and send it to the Zerodha head office address on the below-given address:

    Zerodha H.O,
    No.153/154, 4th Cross Dollars Colony,
    Opp. Clarence Public School,
    J.P Nagar 4th Phase,
    Bangalore – 560078

Zerodha IDFC First bank 3-in-1 Account Charges

The 3-in-1 is a special facility that is given to IDFC bank customers.

Underneath charges are for online opening of Zerodha IDFC first bank 3-in-1 account:

  1. The fees for Trading and Demat account is Rs 200.
  2. The fees for Commodity Account is Rs 100.
  3. Demat account AMC - Rs 300 PA.

If you opt to open the aforementioned account through offline method, then you have to pay Rs 200 additionally for Trading and Demat account and Rs 300 for Trading, Demat and Commodity account. For more details about Zerodha Trading & Dmeat account charges please visit - Zerodha Brokerage Plan section.

How to avail Zerodha 3-in-1 account facility?

The investors who already have Zerodha 2-in-1 account and want to avail 3-in-1 account services, then they have to open their account with IDFC Bank on the first place. 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 IDFC FIRST Zerodha 3-in-1 Account will be as follows:

    1. In the first step, you have to go to the link: https://signup.zerodha.com/idfc - and click on “Continue with Kite”.
    2. In the second step, you have to verify your 'Personal details' and 'Bank details' and then click on “Convert to IDFC 3-IN-1 ACCOUNT”.
    3. Lastly, you have to download Common POA – Print, Sign and submit a physical copy to Zerodha’s headquarters.

So in summary, There are no additional cost in opening 3-in-1 account with Zerodha and IDFC Bank. Trading and Demat account charges are same and can get more details on Zerodha Review page.

Advantages of Zerodha IDFC First Bank 3-in-1 Account

In this compelling industry, the Zerodha IDFC bank tie up offers exemplary benefits to the investors. Let us discuss the advantages offered by them:

  1. There is a quick free fund transfer on the real-time from your IDFC’s bank account to Zerodha’s trading account without any hindrance.
  2. Real-time sync of IDFC bank account with a trading account, so you can check the IDFC bank account balance in your trading account.
  3. There is no upper limit for fund transfer.
  4. All of your assets (stocks, ETFs, Bonds, Mutual Funds, and cash) are visible at one dashboard.

Last updated on 31st Jan 2020

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FAQs

  1. 1. Can an existing customer of Zerodha avail the benefits of the Zerodha IDFC First Bank 3-in-1 account?

    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.

     

     

     

  2. 2. Why Zerodha is providing a 3-in-1 account to IDFC bank only customers?

    To tackle the competitors, such as, HDFC Securities and ICICI Securities, which allow the free transfer of funds whenever the investor wanted.

    Additionally, there are some SEBI and RBI guidelines, so Zerodha has tie-up only with IDFC bank to provide such a facility.

     

     

     

  3. 3. Can I convert my existing Zerodha account to 3-in-1 account?

    Yes, but the opening a bank account is a separate process. You need to open IDFC bank account of your own and then follow the process to update your existing Zerodha Trading and Demat account linked with IDFC Bank Account. Once above process will complete, existing Zerodha account holder need to submit new 3-in-1 POA.

     

     

     

  4. 4. What are the documents I need to open a Zerodha-IDFC FIRST Bank 3-in-1 account?

    As an investor, the first step is to have a bank account with IDFC FIRST Bank in order to open a 3-in-1 account with Zerodha. Underneath mentioned are the documents which are required:

    1. Aadhaar card
    2. PAN card
    3. The eSign process can be authenticated only with an OTP. You will receive OTP on your mobile number which is directly linked to your Aadhar Card. If any of these cases happen:
      1. Your Mobile Number is not updated in the Aadhar Card directory
      2. You are unable to receive the OTP on your dedicated mobile number
      3. The mobile number linked to your Aadhar Card is inactive. In all of these circumstances, you are required to contact your nearest Aadhar Seva Kendra to have the updated information.
    4. Your IDFC First Bank statement of account
    5. Your recent clicked photo and a scanned copy of your signature are requisite that are to be uploaded
    6. Income proof

    As per the company policies, it is mandatory to submit your income proof to start investing in Futures and options – Equity, Commodity, and Currency. Below mentioned are the income documents that you can submit to smooth the process:

    1. Form-16
    2. IT acknowledgment copy
    3. 6-month Bank statement
    4. Latest salary slip
    5. Demat holding statement, or
    6. A CA certifying your net worth

     

     

     

  5. 5. How to open my IDFC FIRST Zerodha 3-in-1 account?

    Here, we will give you step-by-step guide to open your IDFC FIRST Zerodha 3-in-1 account. You have to follow the following steps to open your account:

    1. Open IDFC bank Account by visiting nearest branch or request online.
    2. Submit your Zerodha Demat and Trading account opening request with us. We will arrange call for you to assist complete KYC Process. Account opening with Zerodha is an online process. When you are opening your trading and demat account, please provide bank information as IDFC bank and supporting documents.
    3. Once above 2 steps are complete, Zerodha team will send you 3-in-1 POA form, which you need to download, print, sign and send the hard copy with supporting documents.

    After the third step, you can easily initiate your trading with Zerodha.

     

     

     

  6. 6. Brief us on the Zerodha IDFC FIRST Bank 3-in-1 account?

    There is a tie-up between Zerodha and IDFC First Bank to cater to the smooth trading process.To offer every benefit of trading to the investors, this partnership has come up with a single account. In this single account, you will have trading, DEMAT and bank account to offer a sound experience for the investors.

     

     

     

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User Comments

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1. George Mathews  4/29/2020 6:29:02 AM Reply
Does this mean that our unused funds which normally lie in zerodha account will instead be in our IDFC bank a/c, thus giving more safety and earning interest?






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