In this post, I am going to tell you How To open a Demat and Trading Account in SBI. I will, therefore, explain in this post the complete procedure necessary to open your SBI Demat and trading account in a simple and easy way. First of all, if you already have an existing account, I would like to mention that you do not need to open a new SBI saving account. The Demat and trading account can be easily linked to your existing SBI saving account. However, you can also open a 3-in-1 account, i.e. a Saving + Demat + Trading account, if you don’t have an SBI saving account. All three accounts are going to be connected here.
Required Documents for opening a Demat and Trading Account in SBI?
You need to have the photocopy of the following documents are required to open your Demat and Trading account in SBI:
- PAN CARD
- Aadhar Card (for address proof)
- One passport size photo
- Existing SBI savings account passbook(optional)
If you remember your SBI account number and IFSC code, you don’t need to photocopy the SBI saving account passbook. Simply fill in the account opening form with your saving account information. But, just in case, it’s nice to maintain the photocopy.
SBI Demat & Trading Account charges:
SBI Demat & Trading Account Opening Charges.
You can opt for distinct plans while opening SBI’s Demat & trading accounts. Most beginners, however, are prone to the fundamental plan.
The fundamental fees for opening the SBI Demat and Trading Account are Rs 850 plus GST fees.
The GST fee for the opening charge of the account is 18 percent.
18 percent of Rs 850= Rs 153 Accordingly, Rs 850 + Rs 153= Rs 1,003 is the complete opening quantity.
Note: This sum will be deducted straight from your SBI saving account with which your Demat and trading account will be linked.
Current Cashback plan:
However, in the fundamental scheme, if you invest / trade in the first 6 months after opening your Demat and trading accounts, SBI also gives a money-back up to Rs 650 on the brokerage quantity.
For example, after opening the account, let’s say you bought Tech Mahindra stocks worth Rs 60,000 within 6 months. The brokerage fee for such investment amounts to 0.5% of your investment quantity (if you invest in’ delivery’ i.e. holding shares for more than 1 day).
In this case, the brokerage charge is 0.5% of Rs 60,000= Rs 300. SBI will reimburse your savings account for this Rs 250.
Therefore we can conclude that the efficient account opening fee is (Rs 1,003–Rs 650) because the complete money back is up to Rs 650. We can, therefore, claim that the efficient account opening fee is around Rs 350, including GST fees (Rs 1,003 – Rs 650). Furthermore, there are also a few other account opening plans that you can discuss with your local relationship manager for SBI. Various plans have distinct possibilities for money backs, annual maintenance charges, etc.
How to open an SBI trading and Demat account?
As stated below, there are three methods you can open a demit and trading account in SBI: visit the local SBI branch and open the accounts there. Complete the internet application form on the SBI website. Contact customer care and assist your Demat & trading account to be opened.
First Way To Open a Demat Account In SBI
The first way is quite efficient, though somewhat tired if the local SBI branch is far from home. If you can visit the branch, however, you can readily finish all the documentation job within one day. You can also get all your doubts from the officials current at the bank concerning brokerage fees, annual maintenance charge (AMC), etc.
Second Way to open a Demat Account in SBI
For the young generations, the second way is nice. They can fill the documents readily and upload them online. If you want to use the SBI page to open your Demat and Trading Account, Then here is the link
https://www.sbismart.com/customer-service
The third way to open a Demat Account In SBI
It’s the best and simplest third way. To open your Demat and Trading account, you just need to follow a few easy measures. Here are the following:
- Visit the Contact Us page on the SBI Smart website:
- https:/www.sbismart.com/contact-us
- Fill out the contact form or call the Free Toll amount and provide your information. They’re going to ask for your name, town, pin code, and phone number.
- Within 2 working days, your city’s local SBI Relationship Manager will call you and guide you through the process.
NOTE: Use the ‘ CUSTOMER SERVICE ‘ tab to fill in the contact form and click the ‘ OPEN AN ACCOUNT ‘ option on the correct side of the screen.
Otherwise, at 1800-209-9345, you can call the SBI client manager and give your information.
Call from Local Relationship Manager:
You can also ask him to meet you at your email with the account opening form when your local relationship manager from your town is calling.
They generally agree to visit your required place by signing the account opening form and collecting records (PAN Card photocopy, Aadhar Card & Passport size picture).
Your account will be enabled within 15 days after you have submitted the account opening form.
With your username & password, you will receive a mail from SBI intelligent along with guidance for starting investing / trading in SBI intelligent.
You can begin trading by visiting the SBI Smart website (https:/www.sbismart.com) after obtaining your login credentials and choosing.
Now go and open Demat account in SBI
Keep healthy trading and be happy
I look forward to this article on ‘ How to open an SBI Demat and trading account? It’s good for the readers. Please comment below if you have any further doubts. I’m going to be pleased to assist.
