SBI introduces a 3-in-1 account facility: Check top features, steps to open new account

SBI has introduced a 3-in-1 account that offers the benefits of a normal bank account, a Demat account, and an online trading account.

New Delhi: State Bank of India has introduced a 3-in-1 account that offers the benefits of a normal bank account, a Demat account, and an online trading account. The new banking facility for customers will provide them with a simple and paperless trading experience.

Using the account, customers can kickstart their stock market journey, as they will get the benefits of a Demat and trading account with a new banking facility. For the unversed, one needs to have a Demat and trading account to start investing in stock markets.  

Customers opening the 3-in-1 account are likely to be able to invest in initial public offers (IPO) to benefit from listing gains. SBI said that customers can visit the 3 in 1 account opening with the e-margin facility to know more about the new service. Also Read: IRCTC Update: Long-distance trains will soon have reserved berths for women

In a Tweet, SBI gave more information related to its new banking facility. “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,” SBI said. Also Read: LIC IPO unlikely to take place in ongoing fiscal, here’s why investors will have to wait a little longer

SBI 3-in-1 bank account: List of documents required 

PAN or Form 60
Photograph

Valid Documents for Address Proof:

Passport
Proof of possession of Aadhar
Driving License
Voter ID Card
Job Card issued by MNREGA
Letter issued by National Population Register containing details of name and address

Other documents needed to open SBI Demat and trading account:

Passport size photograph (one)
Pan card copy
Aadhar card copy
One cancelled cheque leaf / Latest Bank statement