How Is IDFC Zerodha 3-In-1 Account?

[BankExpertIndia]

Dear Community Members

I Am Thinking To Open A Zerodha 3-In-1 Account With IDFC Fist Bank... So I Want To Ask How Is It?... Is It A Zero Balance Account?

 

[naviworks]

Dear Community Members

I Am Thinking To Open A Zerodha 3-In-1 Account With IDFC Fist Bank... So I Want To Ask How Is It?... Is It A Zero Balance Account?

i don’t think there is a separate variant called 3in1 account. Any saving account variant can be converted (used) as 3in1 account.

I have a salary account at idfc (zero balance as long as salary is credited) . Before that I had zerodha. I merged them to make it 3in1.
basically transferring of fund is 1click only. No need to type user I’d and pwd of saving bank account every time fund is transferred

 

[saiki4116]

i don’t think there is a separate variant called 3in1 account. Any saving account variant can be converted (used) as 3in1 account.

I have a salary account at idfc (zero balance as long as salary is credited) . Before that I had zerodha. I merged them to make it 3in1.
basically transferring of fund is 1click only. No need to type user I’d and pwd of saving bank account every time fund is transferred

Thanks. I didn't know this existed. Are there any catch, how easy it is to de-link them if we want to close the IDFC account.

 

[BankExpertIndia]

Thanks. I didn't know this existed. Are there any catch, how easy it is to de-link them if we want to close the IDFC account.

Very Simple : Just Fill The Form And Pay 25+GST Charge

 

[yolofino]

i don’t think there is a separate variant called 3in1 account. Any saving account variant can be converted (used) as 3in1 account.

I have a salary account at idfc (zero balance as long as salary is credited) . Before that I had zerodha. I merged them to make it 3in1.
basically transferring of fund is 1click only. No need to type user I’d and pwd of saving bank account every time fund is transferred

Can you share the screenshot of the transfer page? I also enabled the IDFC bank to Zerodha link but unable to find the 1-click transfer screen that doesn't ask for OTP.

 

[hriday.haria]

Can you share the screenshot of the transfer page? I also enabled the IDFC bank to Zerodha link but unable to find the 1-click transfer screen that doesn't ask for OTP.

That One Click button is what gets added.

 

[yolofino]

That One Click button is what gets added.

Thanks, got it now.

 

[Arcade]

I have a ques for you.....
Do you get interest on the amount lying in Idfc ..... And can you 'Block' funds in your bank account while placing order or you have to transfer money to Zerodha to place an order.

You do get interest on the money lying in the IDFC bank account but you can't block funds directly for orders, you'll first have to add money into Zerodha.

 

[kshitij_0]

I didn't find it much useful. Few days back I opened IDFC Account for the same reason. Now I am planning to close IDFC Account. I already have IDFC CC.
If they had the real 3 in 1 which includes you don't have to transfer money from Bank account to Demat or vice versa, then it would make sense to keep.
I think ICICI and Kotak gives this facility. But I want to use Zerodha only so no option left. This one click transfer seems the worst thing.
in the world of NetBanking and UPI, you can do any amount of transfer instantly.
Any other reasons, why should I keep this account?

 

[prakasamk]

Following message is posted in zerodha website

"Due to technical changes being made by IDFC FIRST Bank, requests to convert the Zerodha account to a 3-in-1 account are on hold. However, clients can still transfer funds from their IDFC FIRST Bank accounts using UPI and netbanking. "

 

[Astraea]

I believe IDFC concluded its partnership with Zerodha last year, if I'm not mistaken. Now, the 3in1 IDFC account is managed by ICICI securities. It might not be worthwhile, as mutual fund plans in all banks are regular. In the long term, there's a risk of losing a significant amount of money with this approach. I suggest sticking with the old account linked to your demat account, as we'll need to fund Zerodha before purchasing stocks. Direct debit from the bank isn't available.