All You Need To Know About SBI 3-in-1 Account

Customers who wish to create a savings account for purposes other than liquidity and interest rate can open an SBI 3-in-1 account, which is offered by the country's largest lender, the State Bank of India (SBI). This investment instrument combines the benefits of a savings account, a Demat account, and a trading account into one convenient package. Customers will not have to visit their local bank office because the account opening process is straightforward and paperless. Through a tweet, SBI has claimed that "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."

Documents required

For opening a savings account or Demat & trading account, here are the documents that you need to keep handy.

For savings account

• Passport size photograph.
• PAN or Form 60
• Any one of the Officially Valid Documents (OVD): Passport, Proof of possession of Aadhar, Driving Licence, Voter ID Card, Job Card issued by NREGA, and Letter officially granted by National Population Register containing details of name and address.

For Demat & Trading Account

• PAN Card
• Aadhaar Card
• Passport size photograph (one)
• One cancelled cheque / Latest Bank statement.

Note

Customers can access the Order Placement (Buy/Sell) option after logging into their Trading account on the SBI Securities web platform. To apply for an SBI 3-in-1 account, they must now select E-Margin as the product type while placing an order. For more information, they can visit https://sbi.co.in/web/personal-banking/investments-deposits/stocks-securities/3-in-1-account.

Customers of SBI should also be aware that the bank's Base, MCLR, BPLR, and Interest Rates On Fixed Deposits of Over Rs 2 Cr have all been changed. The new rates are effective as of December 15, 2021, and you can find more information here.