Zerodha IDFC Bank 3-in-1 Account
Last Updated: Dec - 20- 2019
Recently, IDFC Bank has partnered with Zerodha. This tie-up enabled Zerodha to offer 3-in-1 account (IDFC bank account, Zerodha Trading & Demat account) and compete head-on with HDFC Securities and ICICI Securities, which allow customers to seamlessly transfer funds whenever they trade rather than parking funds.
Zerodha 3-in-1 account can only open through online process. You have to open IDFC bank account first and then open Zerodha trading and demat account via online process. After you are done with the 'e-sign' based on your Aadhaar/VID in the account opening flow, a pre-filled POA will be generated. You will have to print it, sign it and send it to Zerodha head office. The address is -
#153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore - 560078.
Existing clients who had 2-in-1 trading and demat account can convert the same to 3-in-1 account. It is possible only if you already have IDFC bank account as primary bank account for your trading and demat account. The procedure to do so is as follows -
- Visit https://signup.zerodha.com/idfc and click on continue with Kite.
- Verify your 'Personal details' and 'Bank details' and click on “Convert to IDFC 3-IN-1 ACCOUNT”
- Download the 'POA', print it out and fill it up and, send it to Zerodha Head office.
Benefits of opening a 3-in-1 account
Some of the benefits of having a 3-in-1 account are as follows:
- Real-time, super fast, fund transfer from the bank account to trading account without cumbersome authentication.
- Fund transfer is free.
- No upper limit/cap for fund transfer.
- View your IDFC bank savings account balance in trading account - this means, you can track all of your assets (stocks, ETFs, Bonds, Mutual Funds, and cash) are in 1 place.
Charges to open the Zerodha-IDFC Bank 3-in-1 account
The account opening charges are same.There are no additional charges to open a 3-in-1 account or get your existing account converted into a 3-in-1 account.
- Rs. 300 - for Trading & DEMAT
- Rs. 200 - for commodity account