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Our Bureau

Mumbai , Nov. 23

SBI today launched an online trading facility, eZ@sbi account, with Motilal Oswal Securities Ltd (MOSL). It is a three-in-one account. The demat account and the savings or current account will be opened with SBI and the trading account will be with MOSL.

To start with, it will be offered in 10 branches in Mumbai. By March 31, 2007, it will be extended to 350 branches across the country, which offer demat facility. In the third phase, the bank will offer additional services like selling IPOs, mutual funds and postal products, Mr Shukla said.

The bank will waive account maintenance charges for customers who open eZ@sbi accounts up to March 31, 2007. The bank has 65,000 demat clients and is targeting 1,50,000 clients for the eZ@sbi account.

MOSL has 1,75,000 demat accounts and plans to work with SBI as a preferred customer, said Mr Motilal Oswal, Chairman, MOSL.

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