Equitas Small Finance Bank has announced the launch of a three-in-one account on Thursday. This account will give triple benefit to the customers. Through this one account, the customers of the bank will be able to invest in many types of financial products. Bank customers will get the facility of saving, trading and demat account in a single account. The bank has given this information through a release.
A three-in-one account offers a convenient option for customers as it allows them to keep their banking and financial investments under a single umbrella entity. Equitas Small Finance Bank is the country’s largest small finance bank (SFB) in terms of banking outlets and the second largest SFB in terms of assets under management and total deposits (FY 2019).
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Investment facility through a platform
The bank informed that it will provide stock broking and demat services to customers through referral arrangement with brokerage firms regarding trading and depository services. In this way, Savit Bank customers of Equitas will be able to invest in many types of investment products through one platform.
Murali Vaidyanathan, President Head and Country Head (Branch Banking, Liabilities, Products & Wealth), Equitas Small Finance Bank, said that through this product, bank customers in a safe and convenient way in equities, FDs, government securities (securities) and mutual fund products. For example, you will be able to invest in investment instruments.
These facilities will be available under three-in-one account
Under this three-in-one account, the bank will offer several types of financial products. For example, through this platform, bank customers will be able to invest in direct equity and future-options trading, mutual fund bonds, government bonds, insurance products, national pension schemes (NPS) and initial public offerings (IPOs).