For investing in the stock market, a Demat and a trading account are considered basic requirements in India. In 2006 many banks came up to offer the Demat and a trading account along with the bank account. This offer is popularly known as a 3 in 1 account offered by many banks in India. Now there are multiple options to choose from, and this article will cover the top 5 best banks for Demat accounts according to their services. There are many banks that offer Demat accounts here are some top 5 best banks for Demat Accounts in India.
The 3 in 1 account is a set of 3 accounts: the Demat account, trading account, and bank account. The 3 in 1 account makes the investment seamless for the clients as the transaction is held together through the 3 accounts. This is a boon for regular investors and beginners who look to start their trading and investment journey in the stock market.
This article has listed all the major banks that offer to open a Demat account and trading account with them. Moreover, the fees to open a Demat account are also discussed in the article.
Which bank offers a Demat account?
Majorly all the large banks in India offer services for the Demat and a trading account. The list includes the major banks like ICICI Bank, HDFC Bank, Axis Bank, Kotak Bank, SBI, Citi Bank, PNB, and YES Bank.
Talking about a Demat account or the dematerialization account, it holds the company’s shares in electronic form. The concept of a Demat account is similar to the bank account, but instead of holding the money, it holds the shares, mutual funds, bonds, ETFs, etc.
List of Top 5 Best Bank For Demat Account
Here is the list of the 5 best banks that offer the best Demat account. Following are 5 best banks to offer Demat accounts:
● ICICI Bank
● HDFC Bank
● Kotak Mahindra Bank
● Axis Bank
● SBI Bank
The banks mentioned above are similar in offering charges, customer care services, and trading platforms. The above banks are almost similar in their offering, charges, trading platform, and customer services. You can open a 3-in-1 account with your existing bank.
Banks offering Demat accounts in India
Here is the list of the bank charges to open a Demat account, along with the AMC charges.
|Broker||Acct Opening Fee||Demat AMC|
|ICICI Direct||₹0||₹700 (from 2nd year)|
Insights of Top 5 Best Bank to Open Demat Account
1. ICICI Direct Demat Account
ICICI Bank is one of the leading banking services providers in India. It is one of the leading private banks that provide high-quality and customized services and a 3-in-1 account facility. Moreover, the company has a vast number of active clients.
You can easily convert your savings account in the ICICI to the ICICI Bank 3-in-1 investment account.
They are well known for the customizable services provided to clients. As they provide the 3-in-1 account services, investors prefer to trade with the company even if they are charged with the high brokerage.
2. HDFC Securities Demat Account
HDFC is the 2nd largest and the most respected financial service provider in the country. This is the leading subsidiary of a top-notch private sector bank HDFC. It has been working for the last two decades.
It is easier for the HDFC bank account holder to open the 3 in 1 account. Clients can easily start investing in the share market segments like Stocks, Mutual Funds, Corporate FDs, NCDs, Bonds, and many more financial instruments online through branches.
Since the 3 in 1 account is offered, one can easily transfer their funds more seamlessly than the other stockbroker.
3. Kotak Bank
The bank is ranked among the top five full-service brokers and is one of the few stockbrokers that provides the 3 in 1 account to their clients. They are well known for delivering unique services to their clients.
They offer various services such as best Demat Account, Trading Account, Intraday Trading, Stock recommendations, PMS, and IPO services. The 3 in 1 account service makes the trading experience seamless and quick.
4. Axis Bank
Axis bank is one of the fastest-growing banking service providers in India. They are also among the few brokers which provide integrated Trading-Demat-Bank accounts. Currently, the company has over 4.3 Lakh, active customers. Moreover, it is among the top 10 brokerage firms in India.
They offer the minimum brokerage of Rs 20 per trade or 2.5% of the trade value, whichever is lower.
5. SBI Bank
SBICAP Securities Limited (SSL) is another popular name in the stockbroking industry. They are listed among the few full-service stockbrokers that offer 3-in-1 account facilities.
Opening a Demat account with SBI has advantages like reaching rural areas, strong research and advisory, an online trading platform, a wide range of investment options, and local customer service. The brokerage and other charges are simplified according to the larger public interest.
In conclusion, opening a Demat account with a bank makes the process of complete trading and investing seamless, easy to access, and safe. Every major bank in India offers 3 in 1 account to their clients. This makes the process of investment hassle-free. This article has covered the 5 best banks that provide the best Demat account to their clients.
To know more about India’s best Demat account service provider, you can read the article “Top 10 Best Demat Account in India.”