If you want to earn money from the stock market, then this app of HDFC Bank is providing this facility for free
Another special feature of this account is that whether you buy shares worth ₹10,000 or ₹1 million, you only pay a flat fee of ₹20 per order. This is a relief for ordinary small investors.
Just imagine... you go to a movie theater and are told you have to go to another hall to watch the movie after the interval, and to a third building to buy popcorn!
Wouldn't you be irritated? Our everyday investment lives are similarly fragmented—bank accounts somewhere, trading apps somewhere else, and demat lockers somewhere else!
This is why small investors often want to invest, but are hesitant to do so due to the hassle. Recognizing this problem,
HDFC SKY developed a three-in-one formula that is proving very popular with ordinary investors. This way, investors' three most important investment needs—saving, investing, and trading—are managed from a single location.
What is the specialty of the account?
Understanding the needs of consumers, HDFC SKY has consolidated all three accounts into one platform. This eliminates the need for customers to navigate through different apps or manage separate accounts.
This account offers three advantages: Typically, when you transfer money for trading through a standard broker app, the money remains in that app's wallet, earning no interest.
However, with HDFC SKY's 3-in-1 setup, your money remains in your savings account. This means that your money will continue to earn bank interest as long as you're not buying shares.
Payment will be made directly from the bank
The stock market is a game of minutes or hours. Sometimes a stock suddenly drops, giving you a great opportunity to buy. In other trading apps, by the time you transfer money from your bank to your wallet, the opportunity is gone.
Here, with direct bank payments, you can trade in a jiffy. Its demat account is like a digital locker. When you buy shares, mutual funds, or ETFs through your trading account, they are securely stored electronically in this demat account.
Flat charge of Rs 20 only
Another special feature of this account is that whether you buy shares worth ₹10,000 or ₹10 lakh, you only have to pay a flat fee of ₹20 per order.