Equitas Small Finance Bank launches 3-in-1 account

By Edil Corneille

Equitas Small Finance Bank has launched a 3-in-1 account which allows its customers to invest in a wide variety of financial products, thereby widening its product offerings.

The bank’s 3-in-1 account (savings +trading+ demat) is said to be a convenient option that helps customers keep all their banking and financial investments under one umbrella entity. The Equitas Small Finance Bank provides stock broking and demat services through a referral arrangement with brokerage firms for trading and depository services. These arrangements enable Equitas Savings Bank customers to invest funds across the investment products using a single platform.

Murali Vaidyanathan, President & Country Head- Branch Banking, Liabilities, Product & Wealth, Equitas Small Finance Bank Limited elucidated, “This product allows customers a secure seamless and convenient way to invest in their choice of investment instruments including equity, FDs, govt securities and mutual fund products. Customers can transfer money seamlessly between their bank account when they have a 3-in-1 account with us.”

“We want to give our customers an enriching banking experience through our savings products suite,” he added.

The financial products offered through the 3-in-1 account includes direct equity and F&O trading, MF investment across all AMCs, ETFs, corporate FDs, corporate bonds, government bonds, insurance products, National Pension Scheme (NPS) and initial public offerings (IPOs).