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 online account opening procedure.
FAQ on Demat Account with SBI
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-individual, the charge is 1000/- plus KRA. They also charge the brokerage that is quite lower compared to other brokers.
Yes, SBI Demat account is good for the new as well as experienced traders and investors. It is beneficial for its security and reasonable brokerage charges. The account opening and maintenance charges 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. That’s all. This is the easiest way of the account opening process.
What are the Benefits that SBI Provides with their Demat & Trading Account?
- Customer Care: Users or clients can now call SBI Customer Care number 24X7. And they assure that all your queries are taken care of by them.
- Transact Anywhere: You can now easily operate your Demat account from any of the 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 at your doorsteps.
- 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.
What are the SBI Trading & Demat Account Opening Charges?
| Sr. No. | Fee Head | Type | Fees |
|---|---|---|---|
| 1 | Account Opening | - | 850 |
| 2 | Dematerialization | Certificate + Dematerialisation Request | 5 per certificate + 35 per request |
| 3 | Rematerialisation | Rematerialisation Request | 35 per request + 10 for every hundred securities or part thereof; or a flat fee of 10 per certificate whichever is higher |
| 4 | Annual Maintenance Charges | Holding Less than 50,000 | Nil |
| Holding greater than 50,000 Less than 2,00,000 | 100 per annum | ||
| Holding greater than 2,00,000 | 500 per annum | ||
| 5 | Pledge Services | If SSL/SBI is the counter party | 0.02% of Value or Min 25 whichever is higher (Plus CDSL Charges) |
| If SSL is not the counter party | 0.04% of Value or Min 50 whichever is higher (Plus CDSL Charges) | ||
| 6 | On-Market (Sell Market) / Off Market | with POA (applicable for On Market Instructions only) | 0.01% (Min. 21 Max. ?300 ) |
| For instruction submitted through internet | 0.01% (Min. 21 Max. 300 ) | ||
| For instruction submitted through Branches | 0.04% (Min. 30) Extra Charges of 10 per ISIN for Late submission | ||
| Buy- market and off-market | Nil | ||
| Rejection / Failed instruction | 10 per failed instruction | ||
| 7 | Additional Accounts Statements | By Courier | 30 |
| By Email | Nil |
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.
- Visit the local SBI branch and open the accounts there.
- Fill the online application form available at SBI website.
- Contact the 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 charge (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 young generations. You can easily fill the documents and 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 certain information like your name, city, pin code, phone number, etc. After giving the information, you will get a call from your local SBI relationship manager. They will assist you and help you to open your account within 2 working days.
What are the Documents Required for Opening SBi Demat Account?
Here, are the list of important documents that you 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 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 also quite good. If you have any queries, you may ask below in the comment box.