South-based ING Vysya Bank and brokerage firm, Angel Broking, on Wednesday entered into a tie-up under which an account holder with the lender can automatically start trading in multiple asset classes.

ING Vysya's Managing Director and Chief Executive, Shailendra Bhandari, said it is a best fit for both the bank as well the brokerage house as both of them have retail-centric business approaches.

Angel will charge a reduced brokerage of 0.40 per cent on trades carried on by ING Vysya account holders as against the normal 0.50 per cent, its Chairman and Managing Director, Dinesh Thakkar, said.

Under the facility, an ING account holder can log-on or call to carry-out trades in equities, derivatives, currency derivatives and commodities in multiple bourses like the BSE, NSE and MCX, through Angel Broking.

Angel will be investing Rs. 18 crore for the venture and the partners are targeting to get atleast one lakh account-holders to use the service by end-March 2012.

Bhandari said in the immediate term the tie-up will not help the bank augment its fee-income, but now helps it complete the bouquet of services to be given to customers. The next target for the bank, he said, is launching a credit card of its own.