I came to know that Upstox has launched 3-in-1 account with following benefits
- Zero Balance Saving Account
- Earn Interest on amount allocated for trading
- Transfer money after trading is over
- Titanium debit card from IndusInd bank
Check the details at this link
ICICI bank provided similar options when I opened my first demat account in 2006.. but they were charging huge brokerage (0.2% on trading and 0.5% on delivery)
Which means I had to pay Rs. 2000 on the trading volume of Rs. 10,00,000, that you can hit easily within a week in day trading.
And I actually paid Rs. 500 brokerage to invest 1 Lakh rupees in share delivery (for long term investing)
Fast forward to 2019.. we have discount brokers who charge flat fees per trade.
And now they started offering zero balance saving account options after having tech partnerships with banks.
My view is that tech is growing to improve further and we would be ahead of US in terms of fintech.
What are your views?
Pardeep Goyal
Kindly reply to this email. I would respond while I am updating the course on stock market.
