SBI 3-in-1 account combines savings, demat and trading account: See how to avail and other details

SBI 3-in-1 Account: The State Bank of India (SBI) provides its customers with three-in-one account that combines the savings account, demat account and trading account. For further details, the interested individuals can login to the official SBI website at bank.sbi.

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Recently, SBI tweeted from its official Twitter handle, "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. To know more, visit - bank.sbi/web/personal-banking/investments-deposits/stocks-securities/3-in-1-account."

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. To know more, visit -https://t.co/Mvt7i2K3Le#Go3in1WithSBI #AzadiKaAmritMahotsavWithSBI pic.twitter.com/3RDWUZEgIF

— State Bank of India (@TheOfficialSBI) December 15, 2021

Documents required
The interested individuals must be aware of the documents that are required under this account, the documents that are required for savings account are as follows:

1) PAN or Form 60
2) Photograph
3) One of the Officially Valid Documents (OVD) 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

Now, the documents that are required to continue the account as demat and trading are as follows:

1) Passport size photograph (one)

2) Pan card copy

3) Aadhar card copy

4) One cancelled cheque leaf / Latest Bank statement.

e-Margin facility
In this regard, the traders must also be aware of the e-margin facility. It has to be noted that under this facility, one can trade with margins as low as 25 per cent and carry forward position up to 30 days using cash or collateral to avail required margin. The customer can choose to convert to delivery and get the stocks in demat account or square off any time before expiry.

Features
The features of the account are as follows:

1) Lower margin

2) Option to convert to delivery/square-off

3) Carry your position

4) Margin can be in form of cash/stocks

How to avail?
In order to avail the account, the interested customers will have to follow some simple steps. They are as follows:

Step 1: Login to Trading account through SBI Securities web platform

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

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

For further details and queries, the interested individuals can login to the official website of SBI at bank.sbi.