What is SBI 3-in-1 Account? Account Opening Process, Documents Required, etc.

State Bank of India has recently introduced a new account called SBI 3-in-1 account with using which you can open 3 different types of account in one go. These three accounts are Normal Savings Account, Demat Account, and Trading Account.

In this column, we will discuss what is SBI 3-in-1 account? account opening process, documents required, etc.

What is SBI 3-in-1 Account?

SBI 3-in-1 account is nothing but a facility to open 3 different types of accounts in one go. The three types of accounts that you get are- Savings Account, Trading Account, and Demat Account.

Earlier, you have to apply for these accounts one by one but with the launch of this account, you can simply apply in one go and all three accounts will be functioning

The best part is that this account is paperless meaning you can apply for this account online but, you also have an offline option where you can visit the bank premises and apply for SBI 3-in-1 account there.

Features of SBI 3-in-1 Account

The following are the features and benefits of SBI 3-in-1 account opening-

• Facilitates account opening where you can open 3 accounts with one application
• Fully paperless KYC verification, no need to visit the bank branch to enroll
• You get eMargin facility for trading as low as 25% and carry forward position up to 30 days using cash or collateral

SBI 3-in-1 Account Opening Process

The following are the account opening process for the SBI 3-in-1 account-

• Visit the official website of SBI securities and click on the “Open an Account” button
• After clicking on the button, a small form will appear where you have to provide your name, email id, and phone number
• An OTP will be sent on your Mobile number which you have to enter in the relevant field followed by clicking on the “Start Registration” button
• After verification of the OTP, you have to provide your PAN Card number and Date of birth followed by clicking on the “Proceed to Personal Details” button
• Now a partially filled account form will appear and you have to fill the form with correct details with information like Address details, PAN details, and other essential information
• Now, in the bank details section, you’ll have a choice to open a savings account or you can insert existing savings account details
• If you choose a new account you have to provide some additional documents which are mentioned below
• In the next step, you have to select the segmentation where you want to trade and choose the plan you want to subscribe to. You can choose the Regular with DigiFree option to open the Demat and Trading Account for free
• Now, click on the “Proceed to Document Upload” button
• After clicking on the button, you have to upload the documents mentioned below in the relevant section
• After uploading the document is completed, click on the Proceed with IPV button where you have to provide the video verification using your mobile cam or PC webcam
• An OTP will be displayed on the screen and you have to write the OTP on white paper and show it to the Cam by holding it with your face clearly showing
• Now, you’ll be redirected to the application form and you have to click on the proceed button to further initiate the verification process
• A pop-up will appear which you have to review and click on the “Digitally Sign the KYC PDF Form”
• You’ll be prompted with a question is your Mobile Number and Email Id is updated in your Aadhaar card or Not, you can proceed further by clicking on the yes button
• Now, you’ll be redirected towards the NSDL page where you have to enter Aadhaar card number followed by entering the OTP sent on your mobile number
• After E-Signing si successfully done, you can click on the Finish button and you’ll be notified about the SBI securities account is under verification
• After the verification has finished your account will be created with SBI with a Savings account, Trading account, and Demat account

Documents Required for SBI 3-in-1 Account

The following are the documents required for opening an SBI 3-in-1 account-

Savings Bank Account:

• PAN or Form 60
• Photograph

One of the Officially Valid Documents (OVD) as under:

• 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

Demat & Trading Account

• Passport Size Photograph (One)
• Pan Card Copy
• Aadhar Card Copy
• One Cancelled Cheque Leaf / Latest Bank Statement.