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:
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:
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.
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.
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.
In this compelling industry, the Zerodha IDFC bank tie up offers exemplary benefits to the investors. Let us discuss the advantages offered by them:
Last updated on 31st Jan 2020
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.
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.
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.
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:
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:
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:
After the third step, you can easily initiate your trading with Zerodha.
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.