Hi everyone. Thank You so much for your prompt responses.
I actually wanted a3-in-1 account for my share trading by which I could merge my savings, demat and trading account. Though Axis doesn't offer trading from their own bank but through Geojit, they have tied up exclusively with them for trading in securities online.
Prior to taking a stand on Axis 3-in-1, I visited many brokerage houses and I'll relate my experience below.
Reliance Money: They gave me a clean offer of 0.04% brokerage plus a charge of Rs. 12 on selling. They also said that 12.36% service tax on brokerage was done away with, which was an exclusive feature of their broking house. But due to the negativity spread about RMoney, I didn't consider it as an option. They charged Rs. 500 annual charges (trading upto Rs. 5lac) which was a decent sum.
ICICI 3-in-1: This was one option that I was fully convinced of, till I read about the high interest charges and other technical problems with ICICI which made me think otherwise. Though they offered me a zero-balance scheme, the word of mouth being so bad about ICICI, I called it a day.
Angel Broking: I was satisfied the most here. They offered 0.05% brokerage (0.03% after negotiation) and took my contact number for giving me further details. The offer and the general opinion seemed quite nice here.
Indiabulls: Their offer was good as well. They required an initial deposit of Rs. 900 for account opening which was fine as well. So I now had two options, Angel Broking and Indiabulls.
Sharekhan: Initially, they offered me a scheme to deposit Rs. 6000 against which the brokerage would be adjusted. When I said that I won't be trading on a regular basis and just occasionally, they gave me an offer of Rs. 2000 for adjustment of brokerage. But still, considering that the annual charges in most other brokerage houses are less than Rs. 1000, it would mean that I'll be paying more than Rs. 1000 for brokerage, which seems too much for a small investor like me. So I opted out of Sharekhan.
Axis Bank: I visited their branch and their offer was a brokerage of 0.33% with the service tax and all. On selling, they charge 2.5% or Rs. 20, whichever is less. Their trading is done through Geojit, about which I have heard some good things as well.
So with these 3 options (Indiabulls, Angel, Geojit) I went ahead with Geojit because I can easily manage my savings bank account and demat account with the linked Geojit Trading account. Angel were good people too, but solely because of the 3-in-1 facility, I opted for Geojit.
Thanks to all once again for sharing your views
Hi coolcritic,
Can you quote why you are opting for Axis3-in-1
And what features you are getting there?
Also please confirm whether you are going to do it from Geojit only or not as others are also quoting about it.
And in case you have had interactions with other broking houses, please quote your experiences here.
thnx
PS: I talked with Sharekhan guys today so with an advance of 2000 for year, they will charge 40p on DEL and 7p on ID.Plus no activation charges.IPO and MF online appl available.