What is meant by 3-in-1 account?

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People who are new to trading and wish to open a trading account, frequently ask these questions-

What is a 3-in-1 account?
What is a 2-in-1 account?
What is the difference between 3-in-1 account and 2-in-1 account?
Which one is best, a 3-in-1 account or a 2-in-1 account?
Which bank is best for a 3-in-1 account?

If you wish to open a trading account to trade in stocks, derivatives, IPO etc., you have two choices- 2-in-1 account and 3-in-1 account.

A 3-in-1 account includes a savings account from a bank, a demat account with either of the central depositories NSDL and CDSL and a trading account to buy and sell various financial instruments. All the accounts are jointly opened by a broker. Normally 3-in-1 accounts are offered by broking companies which are a part of a banking group like HDFC Securities, ICICI direct, Kotak Securities and Axis Securities.

Topic: The Best 3-in-1 Trading Account in India Stock Market - ICICI, HDFC, SBI, Kotak Article

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