This Demat account with SBI is one of the most trendings and asked topics nowadays. From this post, you will get complete information on how to open a trading and Demat account with SBI. Demat account charges, login, etc. I will explain every bit of information from documents requirement to the online account opening procedure.
FAQ
Of course, you can. And the thing is if you already have a savings account, you do not need to open new a new one. In case you do not have any savings account under SBI, you can take their 3-in-1 (Savings+Demat+Trading) account offers.
For an individual, the account opening charges are 800/- plus KRA charges. And for non-individuals, the charge is 1000/- plus KRA. They also charge a brokerage that is quite lower compared to other brokers.
Yes, the SBI Demat account is good for new as well as experienced traders and investors. It is beneficial for its security and reasonable brokerage charges. The account opening and maintenance charges are also low compared to other brokers. You can use their 3-in-one facility. There you can open an account and use savings, Demat and trading facilities.
Yes, the online Demat account opening facility is available with SBI. The account opening form is available on their website. You just go there and fill up the form and submit it. That’s all. This is the easiest way of the account opening process.
Features of SBI Trading and Demat Account
- Customer Care: Users or clients can now call the SBI Customer Care number 24X7. And they assure you that all your queries are taken care of by them.
- Transact Anywhere: You can now easily operate your Demat account from any of 1000 plus SBI Demat-enabled branches in India.
- E-mail Statement: Receive your account statement and bill by email.
- Demat Services Online Facility: This digital and paper-free facility allows you to operate from the comfort of your home or office, anywhere. And it is through SBI’s Internet Banking Facility.
- Online Demat Statements: Demat users can now view their Demat account details, holdings statements, transaction records, and billing statements online.
- Order Delivery Instruction Booklet online: You can now order your Delivery Instructions Booklet digitally online. And that would be delivered to your doorstep.
- You can now transfer or pledge or unpledged securities online anytime from anywhere.
- Now you will receive SMS alerts for all debits and credits. And also receive SMS for any request which cannot be processed.
SBI Trading & Demat Account Opening Charges
When considering opening an account with SBI Securities, it’s essential to be aware of the various charges associated with the process. Below is a detailed breakdown of the account opening and maintenance charges for 2024.
| Transaction | Fee |
|---|---|
| Trading Account Opening Charges (One Time) | Rs 850 |
| Trading Annual Maintenance Charges AMC (Yearly Fee) | Rs 0 |
| Demat Account Opening Charges (One Time) | Rs 0 |
| Demat Account Annual Maintenance Charges AMC (Yearly Fee) | Rs 350 |
Opening a Trading and Demat account with SBI Securities offers the following cost structure:
- Trading Account Opening Charges: A one-time fee of Rs 850.
- Trading Annual Maintenance Charges (AMC): No yearly fee, making it a cost-effective choice for traders.
- Demat Account Opening Charges: No initial fee for opening a demat account.
- Demat Account Annual Maintenance Charges (AMC): A yearly fee of Rs 350 for maintaining the demat account.
By understanding these charges, you can make an informed decision about whether SBI Securities aligns with your trading and investment needs.
The above table contains the brokerage charges for your trading and Demat account in SBI.
How to Open Demat and Trading Account in SBI?
There are three methods by which you can open a DA in SBI. The methods are given below.
- Firstly, visit the local SBI branch and open the accounts there.
- Secondly, fill out the online application form available on the SBI website.
- Thirdly, contact customer care and they will help to open your Demat & trading account.
Method 1 (Branch Visit)
You can visit your local SBI branch and open the accounts there. If the branch is far away from home, the method is quite lengthy and tiresome for somebody. However, if you are able to visit the branch, then the staff are really helpful and you can easily complete all the documentation work within a day or two. Moreover, you can get all your doubts cleared by yourself. You will get direct information regarding brokerage charges, Annual Maintenance Charges (AMC), etc from the bank representatives.
Method 2 (Online Account Open)
The second method is the online Demat account opening method. It is an easier and less time-consuming method than others. You can do this from anywhere, anytime within just a few minutes of time. You will get The online application form at the SBI official website. The way is quite good for the young generations. You can easily fill out the documents and also upload them online. If you want to open your Demat and trading account using the SBI website, you can click here.
Method 3 (Contact Customer Care)
The third way is also an easier way. You can contact the customer care of SBI and they will help to open your account. You just need to follow a few simple steps to open your demat and trading account. First, go to their Contact page. After that search for the toll-free number and call. Then they will ask for certain information like your name, city, pin code, phone number, etc. After giving the information, you will also get a call from your local SBI relationship manager. They will assist you and help you to open your account within 2 working days.
Documents Required for Opening SBI Demat Account
Here, are the list of important documents that you are required to open an account under SBI. You required photocopies of the below documents:
- PAN CARD
- One passport-size photo
- Aadhar Card (for address proof)
- Existing SBI saving account passbook (optional)
Note: In case, If you have your SBI account number and its IFSC code, then the SBI saving account passbook photocopy is not required. Then, you just have to fill in your savings account details in the account opening form.
Conclusion
Moreover, SBISMART Money App is their latest addition mobile phone application. The app made trading much easier. Here, you can get research benefits, advanced scanners, charts, etc. So as you can see Demat with SBI can be super beneficial for you. They have launched many facilities for their users. And the services are also quite good. If you have any queries, you may ask below in the comment box.