After getting your Demat and Trading Accounts you will not be having any Balance in your Trading Account. In order to buy shares you should have money in your Trading Account. Ok well, but how to Deposit or Transfer Money to your Trading Account? There are two ways to Transfer funds to your Trading Account.
One is giving a Bank Cheque to your Broker. He will then Transfer the money to your Trading Account mostly after clearance of your Cheque. It may take 1 day to 3 days time to get money deposited in to your account.
Second way is online transferring of funds to your Trading Account from your Bank account through your Broker's Payment Gate Way. To Transfer funds in this way you should have Internet Banking User Id and Password. In this option your money from your Bank account will be Transferred to your Trading Account with in seconds. To proceed through this option you should have account with the particular bank with which your broker has registered for Payment Gate Way. Ask your broker to get Payment Gate Way Bank details and open account with that particular bank.
Mostly the following banks will have Tie-up with almost all the Companies. So it would be better If you have savings account with these Banks
1) ICICI Bank
2) HDFC Bank
3) AxIS Bank
4) IDBI Bank
But If you wish to choose best bank among those 4 banks then give your preference to ICICI Bank. Because it has got tie-up with many companies than other banks.
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