Axis Bank 3-in-1 account

Thank You so much for sharing your feedback on Axis 3-in-1 account. I have opened a Savings a/c but yet to get my account number. As soon as I get it, I'll go for the Demat & Trading a/c. So should I open the trading stuff only when the market is open? I mean, your friend who followed the instruction and waited till Monday, got his account locked?

what are you saying man.
AXIS is new name for UTI bank only. Thats what has happened

Please visit this website :
http://www.standardchartered.com/media-centre/press-releases/2007/documents/grp_20070822.pdf

Standard Chartered to acquire 49% stake in UTI Securities from
Securities Trading Corporation of India
Standard Chartered retains option to buy 100% in UTI Securities by 2010
London, August 23, 2007: Securities Trading Corporation of India Limited (STCI) and
Standard Chartered PLC have today entered into a strategic partnership for Standard
Chartered to acquire a 49 per cent stake in UTI Securities Limited, a leading Indian brokerage
house, for approximately USD 36 million cash. STCI currently owns 100 per cent of UTI
Securities, having acquired it in 2006 from the Administrator of the Specified Undertaking of
the Unit Trust of India.
Under the agreement, the parties have provided for necessary options to raise Standard
Chartereds stake in stages to 100 per cent by 2010, subject to necessary regulatory
approvals.
Jaspal Bindra, Director, Standard Chartered Bank, said: This investment is ground-breaking
for the Group as it signals entry into securities broking and I am glad it commences with India.
I see great potential for this business through this strategic partnership.
Neeraj Swaroop, CEO India, Standard Chartered Bank, said: This investment underlines
Standard Chartereds commitment to grow in India. We are delighted at this opportunity of
partnering with STCI in growing UTI Securities. The company has a good franchise and a
professional management team.
The partnership will enable Standard Chartered to broaden its product offering in Wealth
Management and Private Banking within India, and the non-resident Indian (NRI) product
portfolio in our footprint countries, Mr Swaroop added.
G Narayanan, Managing Director, Securities Trading Corporation of India, said: We welcome
Standard Chartered as a strategic investor in UTI Securities. We believe that Standard
Chartered, with its long track record in India, a large client base and extensive overseas
presence will add significant value to UTI Securities.
UTI Securities, set up in 1994, has grown from an institutional brokerage house to a fullfledged
financial intermediary having nationwide presence in 60 major Indian cities with 41
branches and 174 franchises to service a wide range of clients. The company has significant
presence in institutional and retail broking, online trading (www.usectrade.com), depository
services, portfolio management services, equities research, investment banking, fixed income
securities, and distribution of third-party financial products.

Geojit you will not have the option to add the watch list unless you have premium account or you trade in such a way that the brokerage is above Rs300.

Coolcritic, can you again quote all the charges you are getting with Axis
Today I talked with them they are telling 0.55% on delivery and 0.10 on ID.
Fut 0.05 on each leg
Options 2.5% or min 100 per leg.

Schedule of charges:
Below Rs. 10lacs: 0.55%
10lacs-30lacs: 0.50%
30lacs-75lacs: 0.40%
75lacs-2crore: 0.20%
Above 2crore: 0.15%

Minimum brokerage Rs. 20 or 2.5% of trade value, whichever is lower (Here obviously Rs. 20 is lower as minimum of Rs. 1000 has to be traded, 2.5% of which comes to Rs. 25)

Intraday: 0.10% for each leg of transaction
Service Tax: 12.36%of brokerage
STT: 0.10% delivery Cash segment
0.02% Intra-day Cash segment

20 free calls/month. Additional Rs. 20/call

Actually the 0.33% that I quoted previously was told by an Axis Bank employee but today I had gone to thebranch to take a detailed sheet of charges.

mr coolcritic, i have some doubt pls clear it.


1. geojit offer 0.03% bokerage for intraday and .030% for delivery.
but ur data was not match this.


2. us wrote 20 free calls/month. Additional Rs. 20/call

here what u mean by calls.


3.what is the account opening charge and amc charge.

4. which website we trade whether geojit website or uti website.

5. what trading terminal they use odin or other


pls answe my questions.
iam also interested in opening the acount

4.

Hi,
I would also be intrested in finding out from you what your experience has been.

Thank you,

Amiava

Hi! The charges that I mentioned just a few posts ago are the ones levied by Geojit. Your data says that for both intraday and delivery, its 0.03% which is impossible!

As far as the calls go, I have no clue of it since I don't call them. I trade using my computer at home.

The account opening charges are Rs. 500, and annual maintenance Rs. 250.

They use the Geojit website for trading purposes, not the UTI website, and they use ODIN terminal.

Hope this clarifies your doubts. Get back to me if you need any further clarifications.

-Ali.


P.S. I have been using Geojit since the past month and a half, and their service has been satisfactory, but if you are more into Intraday, then this is not for you. This is good for investors. As said, they charge a minimum brokerage of Rs. 20. So if you transact for an amount of Rs.10000, then 0.1% comes to Rs.10, but they would charge you Rs.20, plus ST, STT. Also, for transactions of a lesser amount, you would run into losses unless the scrip you have selected, shoots up on a given day, like it happened with JP Associates on Monday and yesterday. So go through all the pros and cons of Geojit.

Dear coolcritic007,

My hearty advise is not to go with Axis Bank 3 in One account(As they are advertised.).
I took one a month ago and really its not a 3 in one account. Axis bank is only providing an account to receive or transfer fund to Geojit. You will get no assistance from axis bank regarding your trading/demat or anythings. They will just act as a normal banking firm. The customer care of axis bank is pathetic.

One more thing. Axis banks A/C or transaction related Security is very questionable.

Geojit's brokerages are low but you will miss a lot...really a lot in Geojit than others. Even you cannot use your shares directly for margin. For this you need to manually(paper application) pledge or de-pledge by going to their office. Linking other banks(HDFC, or so) with Geojit will be a better solution if you need Geojit as broker.

Sharekhan, ICICIDirect are much better than the said Axis Banks 3(ha hah ah... ) in one

Currently I have active a/cs with Geojit, Sharekhan, ICICIDirect.

If you need any details from my experience you may contact me here itself.

Haribird.