A demat account can be considered to be the get way to stock market but to start your investment in stocks, you also need a trading account and savings bank account along with your demat account.
As an investor, you must hold all the 3 accounts to be eligible for investing in the stock markets. An investor can choose to have these 3 accounts with any depository participant, broker and bank but in order to ease out the process and ensure a seamless experience almost all national banks offer a 3 in 1 account which is a combination of a demat account, trading account and savings bank account, linked together.
A demat account is used to hold your stocks dematerialized form. The trading account is used to trade in stocks and the savings bank account is used for all monetary transactions. Demat account and savings bank account are similar in nature. The difference being that demat is used to hold stocks whereas savings bank account is used to hold money.
Majority of the leading banks in India provide a 3 in 1 account. Today we will take a look at some of the banks which are providing demat account service as well. It is to be noted that demat and trading account are two entirely different accounts, though they are often treated as one by majority of people.
Table of Content
List of Banks Demat Accounts
ICICI Bank
ICICI Bank is a very familiar name in the Indian banking industry. The bank has its brokerage arm which is known as ICICI Direct. It is the largest Indian stockbroker with over 15 lakh customers. It is recommended to have an ICICI 3-in-1 account if you hold your savings account with ICICI. ICICI Direct charges high brokerage if you compare it with discount brokers, but you get the advantage of seamless customer support from local branches in every nook and corner of the country, trading tips and a dedicated relationship manager.
HDFC Bank
HDFC is another renowned name in the Indian banking industry. HDFC is the second largest bank in India and provides 3-in-1 account to all the account holders. HDFC started to offer demat services in the year 2000. The charges for HDFC are amongst the highest in the industry. The premium charges are due to the fact that HDFC has earned the image of being the most respected financial service brand in India and provides local support and research.
Kotak Mahindra Bank
Kotak Mahindra Bank’s brokerage arm known as Kotak Securities was founded in the year 1994. It is the fourth biggest stockbroker in India in terns of number of customers. Kotak Securities provides 3-in-1 account for investment and trading. Kotak Securities offer different brokerage plans and an investor can choose anyone depending on their requirement.
Axis Bank
Axis Bank is one of the fastest growing private banks in India and offers broking and demat service through its broking arm known as Axis Securities. Axis Bank is the sixth largest stockbroker in India and offers 3-in-1 account with a number of features like trading tips, research reports, dedicated relationship manager etc. The bank has a dedicated app and website known as Axis Direct which allows investors to trade and invest seamlessly.
State Bank of India (SBI)
The largest India Bank, SBI offers brokerage services through its arm SBICAP Securities. SBI offers 3-in-1 account to all its account holders which ensure a seamless trading and investment experience. SBI has a strong presence in all urban and rural areas of India and ensures strong customer support through its branches. SBI is a full-time broker and is also the 10th largest stockbroker in the country.
Conclusion
These are some of the leading banks who are also providing demat services to investors in India. Apart from these banks many leading brokers like Zerodha have collaborated with banks to provide a similar experience. However, before getting your demat account it is important to ensure few things like the reputation, charges etc.. Once you have your 3-in-1 account in place, you can start investing in the market. You can take the services of an investment advisor who can help you in investing in the market by providing research-based recommendations.
Happy Investing!
![Top Banks to Offer Demat Accounts in India [3-in-1 Account]](https://cdn.prod.website-files.com/593e207ebedace68bd410daa/60dbf428e27639ece7243cbf_Demat-Account.jpg)
