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Open Demat Account in SBI : State Bank of India is undoubtedly the largest and most trusted bank in India. SBI provides its account holders with a variety of banking products and options. One such product is Demat Account. For those who want to holds all your shares in electronic or dematerialized form, Demat Account is the option to go for. Procedure to open Demat Account in SBI is quite easy and does not take much time. If you want to open Demat Account in SBI, you can follow this article. In this Article, we have mentioned the complete requirements and step by step procedure to open SBI Demat Account.
This Article will help you to know :
- What is a Demat Account in SBI ?
- What are the Benefits to Open Demat Account in SBI ?
- What are the Requirements to Open Demat Account in SBI ?
- Steps to Open Demat Account in SBI Online
- Steps to Open Demat Account in SBI Offline by Branch Visit
How to Open Demat Account in SBI ?
You have the option to open demat account in SBI online or by Offline method. Before we tell you the how to open demat account in SBI, let us tell what actually is Demat Account and What are the requirements to open Demat Account in SBI.
What is a Demat Account in SBI ?
A Demat Account in SBI is an account that holds all your shares, bonds, government securities, mutual funds and exchange traded funds (ETFs) in electronic or dematerialized form. Just like the bank account, a demat account holds the certificates of your financial instruments like shares, bonds, mutual funds etc. If you want to trade in the stock market online, you cannot do it without a demat account.
What are the Benefits to open Demat Account in SBI ?
- Customer Care : You can call the dedicated 24X7 Customer Care of SBI for all your queries.
- Transact Anywhere : Operate your SBI Demat account from any of the 1000+ Demat enabled branches of SBI.
- Statements by e-mail : Option to receive your Demat account statement via email.
- Demat Services Online Facility : It is a convenient and paper free facility which helps you operate the account from your home or office through SBI Internet Banking.
- Online Demat Statements : View your Demat Account details, holdings statement, transactions statement and statement of billing online.
- Order Delivery Instruction Booklet online : Order your Delivery Instructions Booklet online and get it delivered at your home.
- Check ISINs, Settlement Calendar and Requests status online
- eZ – Instructions : Transfer or pledge/unpledge securities online from any place, anytime.
- Mobile Alerts : You can receive SMS alerts for all kinds of debits, credits and for any request which cannot be processed.
- eZ-trade@sbi : If you want Online Trading Facility, you can have it with SBICap Securities Ltd. This service provides a 3-in-1 account which integrates Savings Bank A/c, Demat A/c and Online Trading A/c. This gives you a convenient and paper free online trading experience.
What are the Requirements to open Demat Account in SBI ?
Just like any other type of Account, there are some requirements for opening Demat Account in SBI.
1) Passport Size Photographs, Address and ID Proof Documents for each applicant.
2) Completely filled up SBI Demat Account form with Signature.
3) Although there is no account opening fee for Demat Account in SBI. However, there are some Service Charges for SBI Demat Account.
Let us now know about the steps to open Demat Account in SBI.
Steps to Open Demat Account in SBI Online
In order to open Demat Account in SBI Online, you need to follow the step by step procedure mentioned below :
1) Click on this link to :: Apply Online for SBI Demat Account.
2) Accept the Terms and Conditions and click on Apply Now.
3) Proceed to fill up the application form, make online payment and submit the form electronically.
Make sure you have the following :
- SBI Internet Banking Account
- PAN card
- Passport size photograph for each applicant
- Bank Account Proof
- Valid Address Proof
4) Collecting Signatures and Documents : After you submit your online application, SBI representative will get in touch with you to get signatures on your application form and collect your documents. Make sure you have the self attested copy of PAN Card, Passbook front page, Address Proof and Passport Size photographs of each applicant.
5) Check Your Online Application status & Start Trading : Once SBI verifies your application form and the documents, your account will be ready for activation. This process usually takes 3-5 working days.
Once your Demat Account is activated, PIN mailers with your password will be sent to your residential address. You can take help of SBI representative who will assist you in familiarizing with SBI trading platform and placing your trades.
If you face any problems in filling up the Demat Application form, please make a call at SBI Customer Care on
1800-209-9345 (from Private Telecom Operator’s Numbers) & 1800-22-3345 (from MTNL/BSNL Numbers).
Steps to Open Demat Account in SBI by Branch Visit
In order to open Demat Account in SBI, you need to follow the step by step procedure mentioned below :
1) Visit your SBI Home Branch with the self attested copies of Passport Size Photographs, Address and ID Proof documents.
2) Ask for Demat Account Opening Application Form at the Customer Service Counter.
3) Fill up the form carefully and put your signature wherever needed.
4) Submit the completely filled Demat Account Opening Application Form and the documents mentiond in Step 1.
Finally, SBI will forward your form and documents to SBI Cap Securities Ltd. for processing. Once your account application is processed, you will get your SBI Demat Account Number and related documents.
Final Words
You might have noticed that the procedure to open demat account in SBI is quite easy and does not take much time. Although, both offline and online process to open demat account in SBI are equally easy but we think online process is less time consuming. However, the choice of process still depends upon your convenience and ease.
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