Open Demat Account In SBI, is not the troublesome process. In this blog you will find out detailed process for opening demat account in State Bank of India. It becomes more easier if you already have State Bank of India Savings account then you can directly link your existing SBI Savings account with the SBI demat and trading account. And if you don’t have any SBI account then you can also open 3 in 1 account. i.e. Saving + Demat + Trading account.
Before, we directly jump to procedure, you need to know documents required to open the demat account.
- Aadhar Card [for address proof]
- One passport size photo
- PAN card
- Existing SBI account passbook [optional | If you have your State Bank of India account number and IFSC code, then it is not required]
You need to keep photocopy of these documents. Now there are two ways through which you can open demat and trading account in SBI as explain below.
#1 Visit the local SBI branch
- This is the first way and it is quite effective.
- It takes only one day to complete the documentation work.
- The representative at the bank help you to fill the form and clear all your doubts regarding to document related work.
#2 Visit SBI Website
This second option is easy and best. You need to follow few steps to open your demat account. The steps are as follow:
- Open the State Bank of India Smart website: https://www.sbismart.com/contact-us
- On the contact us page here fill the contact form or call the toll-free number and give your details.
- As you fill details including your PIN Number, Local State Bank of India Relationship manager from your city will call you within 2 or 3 working days and guide you for further process.
- You can request the manager to meet you at your place with the account opening form.
- As soon as you fill the form and give the photocopy of required documents, within 15 days your account will be activated.
- You will receive a mail from SBI Smart with your username and password along with instructions about how to start trading with SBI smart.
- visit the SBI Smart website , select option Trade login from the drop down menu. And login to your SBI trading account from where you can start trading/investing.
SBI Demat and Trading Account Opening Charges
There are different plans offered by SBI to open demat and trading accounts. Most of the beginners preferred basic plan.
The charges for basic plans are ₹850 + 18% GST, so the total amount will be ₹ 1003. That will directly be deducted from your linked State Bank of India savings account.
In this basic plan SBI give you cash back up to ₹650 on the brokerage amount if you do trade from your State Bank of India trading A/C in the first 6 months after opening your demat account.
Different charges applicable to your SBI demat account. The current charges you can check on State Bank of India website on the charges section.
Brokerage charges for different segments are listed in the table shown below:
We hope that this detailed information helps you to open demat account in SBI. To know about best demat account you can read out our informative blog that help you to select best option for you.
I am Hitendra Dixit. I am a civil engineer, at the age of 47 I have changed my profession and came in to stock market. I got excellence award for best share market training institute in India. I provide training in live market, during training sessions I do trade with real money in front of members. Many of my members left their job and became a professional trader with my support and guidance.