SBI Launches 3-in-1 Account Facility: Key Features, Details, How to Open SBI Account

SBI 3-in-1 Account: The State Bank of India, country’s largest public sector lender, comes up with new policies and facilities for its customers from time to time for ease of business. This time, the bank has launched a 3-in-1 account facility to help its account holders have a seamless trading experience. The SBI 3-in-1 account comprises a savings bank account, a Demat account, and an online trading account — all at once — to help customers get a smooth paperless trading experience. The State Bank of India said in a note that people who are interested in opening the account can log in to its website for further details and queries.

In a tweet posted on December 15, the State Bank of India said, Experience the power of 3-in-1! An account that combines Savings Account, Demat Account, and Trading Account to provide you with a simple and paperless trading experience.”

A Demat and trading account is mandatory if someone wants to start investing in the stock market, and the demand for those accounts is high at a time when several companies are opening their initial public offerings or IPOs. Explore 3 in 1 account opening with the e-margin facility. Get the benefits of savings account, Demat account and trading account all under one roof, said the bank.

SBI 3-in-1 Account with E-margin Facility

The SBI 3-in-1 account also has an e-margin facility aimed at traders. Under this policy, those with the SBI accounts can trade with margins as low as 25 per cent, the bank said in a note. They can also carry forward position up to 30 days using cash or collateral to avail the required required margin. Customers can choose to convert to delivery and get the stocks in demat account or square off any time before expiry, said the bank on its website.

Key Features of SBI 3-in-1 Account

The key features of the 3-in-1 account of the State Bank of India include the following things:

a) Lower e-margin, which is a leveraged trading facility

b) Additionally, there will be an option for the account holders to convert to delivery or square-off

c) Customers with the SBI 3-in-1 account will be able to carry their positions

d) The margin can be in the form of cash or stocks, giving the account holder the freedom to choose his or her best fit

Documents Required to Open SBI 3-in-1 Account

a) PAN or Form 60

b) Photograph

c) Any one of the Officially Valid Documents as under:

i. Passport

ii. Proof of possession of Aadhar

iii. Driving License

iv. Voter ID Card

v. Job Card issued by MNREGA

vi. Letter issued by National Population Register containing details of name and address

How to Open SBI 3-in-1 Account

The process of opening the SBI 3-in-1 account has been kept simple by the bank to provide a seamless experience for the customer. Follow the steps given below to open your account:

Step 1: Log in to Trading account through the SBI Securities web platform

Step 2: Go to order placement (Buy/Sell) menu

Step 3: Select product type as E-Margin while placing order

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