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SBI Securities Open Account | Account Opening Process Review


SBICAP Securities Ltd (SSL) is the broking arm of State Bank of India (SBI). The company is a 100% subsidiary of SBI Capital Markets Ltd. SBICAP started its operations in 2006. It provides access to primary and secondary capital markets to Retail investors, NRIs, HNIs and Institutions.

The services offered include Equity, Equity Derivatives, Currency Derivatives and Demat Services. It also offers IPO application services, Mutual Fund investments, Bonds and a range of loans.

SBI 3-in-1 Account is the most popular offering by State Bank of India. This includes a bank account, a trading account and a demat account. The 3-in-1 account offers:

  • A wide range of investment options
  • Seamless transactions between these 3 accounts.
  • Invest in fixed deposits, securities (share market), bonds, pension schemes and mutual funds.
  • Trade in stock and commodity at BSE, NSE and MCX.
  • Manage all three accounts online.

SBICAP offers its stock trading services online (SBISmart.com) and through branch offices. SBICAP customers can access services online through a desktop terminal, website and mobile app. For those who need help, SBICAP has branch assistance, Relationship Managers, Doorstep services and Dial & Trade facility.

Key Facts about SBICAP Securities

  • Part of the reputed SBI group
  • Over two decades of experience in the trading business
  • Caters to retail, institutional and HNI investors
  • Offer a complete suite of financial products
  • Multiple channels of servicing (online and branches)
  • Over 115 branches across the country
  • 1000+ field force providing doorstep services
  • The 3-in-1 account is available
  • YONO App offer online paperless instant account opening (eKYC and Aadhar integrated)
  • NRI Trading and investment services are available

Product Offered by SBICAP Securities

  • Online Trading
    • Equity Trading at BSE, NSE
    • Currency Trading at NSE
  • Depository Services (Demat Account)
  • Online IPO
  • Mutual Fund
  • NCDs and NFOs
  • Home Loans, Car Loans and Loan Against Securities (LAS)
  • Research and Advisory
  • NRI Trading & Investment

SBI Online Trading Account Opening

How to open SBI Trading Account?

You can open a Demat account and an online trading account with SSL in the following ways-

  1. SBI Online Account Opening – Open an online instant paperless trading and the demat account using YONO App by SBI.
  2. Visit Branch- Visit any of the SBI branches near you and complete your account opening process.
  3. Give a Missed Call- You can give a missed call at 092667 92667 and the company executive will get in touch with you to take the process forward.

SBI Instant Demat Account Opening (YONO App by SBI)

YONO is an App offered by SBI. This one single app caters to all your banking and investment needs. You could use this app for banking, trading, insurance, investments, shopping and online account opening.

YONO is short of You Only Need One App for all your transactions with SBI.

You could open an SBI 3-in-1 account online using YONO Mobile App. You just have to visit the nearest branch once for in-person verification. Everything else is taken care online.

Documents needed for account opening

You need to submit following documents to open the trading and demat account:

  1. Copy of AADHAR Card
  2. Copy of PAN Card
  3. Proof of Address- Passport, Bank passbook, Driving License, Utility Bills etc
  4. Canceled Cheque
  5. Passport Size Photo

For derivatives traders, a proof of income (i.e. latest salary slip, bank statement or latest ITR) is required.

Check Account Opening Status

To know the status of your account opening, you can use the online application tracker.

Steps to check SBI Account Open Status

  1. Go to SBISmart website
  2. Click on 'Customer Service' button on top right
  3. Click 'Account Opening Status' link on the customer service page.
  4. Fill your Application Number and PAN Number to get the status.

Contact customer service in case your form is on hold or your account has not been opened after 15 days.

Account Opening PDF Forms

SSL has two ways of opening an account- visiting a branch or filling an online form. Unlike other brokers, you don't need to download account opening PDF forms to open the account with the company.

Visit an SBI branch nearby and talk to their executives. They will assist you in opening the account. Alternatively, you can fill an online form and request for doorstep service.

SBI Demat Account Closure

How to close SBI Trading Account?

If anytime, you wish to close the SBICAP trading and demat account then you can do so by following a simple process.

Here's what you should know before initiating an account closure process-

  1. You cannot close your account online/email/phone/chat. You have to fill, sign and send the account closure form to the company.
  2. Your accounts will not be closed if you have pending dues. So clear all your dues.
  3. Sell or transfer all your securities from the SBICAP Demat account to your other Demat account.
  4. Close all your open trade positions in Futures and Options.
  5. If the account is opened jointly with other people, each person needs to sign it.

Steps to Close SBI Demat Account

To close your SBICAP trading and demat account, you need to-

  1. Visit SBI website and go to Download Page.
  2. Download the 'Account Closure Request- DP and Trading' form.
  3. Get a print out of it and fill the form.
  4. Send it to the SBICAP office address provided in the form.

The full and final settlement of the funds and securities due to you in the Demat and Bank number provided by you in the form.

It is advisable that you follow up on the account closure process with the customer support team. You can call/email the customer support and inquire about the account closure after 15 days of sending the form.

SBI Securities Account Opening Charges

Customer pays account opening fee for trading account opening with SBI Securities. The account opening fees are as below:

  • SBI Securities Account Opening Charges (Trading Acct): ₹850
  • SBI Securities AMC Charges (Trading Acct): ₹0
  • SBI Securities Account Opening Charges (Demat Acct): ₹0
  • SBI Securities AMC Charges (Demat Acct): ₹350

FAQ's

  1. How do I request an account opening form in SBICAP?

    You can open an SBI Smart Account by filling in a single application form. This form will help you open a 3-in-1 account which includes Trading, Bank and a Demat account.

    There are many ways to request an account opening form

    • Give us a missed call at 092667 92667 OR
    • Register yourself online by clicking on Open an Account on the Right-hand side panel on the Home Page of its website OR
    • Click on Online A/c form and click on "Apply Now"
    • Write to us at helpdesk@sbicapsec.com with your contact number and location or
    • Walk into any of SBI Bank branches.

    Discuss this question

  2. How long does it take to open an account with SBICAP?

    The account opening takes 3 days from the receipt of the form in case paper signed forms are sent. A company representative will call/email you in case of any discrepancy or missing documents.

    You will get a confirmation email/SMS, once your account is opened and activated. You will receive login ID, password, DP ID and other account details in the welcome email.

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  3. Who can open an account with SBICAP?

    All resident Indians and Non-Resident Indians (NRIs) can open an account with SBCAP.

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  4. Do I have to maintain a minimum balance in my SBICAP trading account?

    No, you don't need to maintain a minimum balance in your trading account. You can transfer and withdraw funds into the account as per your trading needs. However, for some trading positions in Futures and Options, you may have to maintain the margin amount.

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  5. Why SBICAP charges a fee for opening an account?

    The charges are to cover expenses incurred for processing your application. The Trading + Demat Account opening charges are Rs. 850.

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  6. How to update details in SBICAP trading account?

    To change Bank or Demat account linked with your trading account, you need to download a form from the company's website. The form is available in the 'Downloads' section. Print the form, fill it and send it to the company address along with requested documents.

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  7. What are SBI Smart Call and Trade charges?

    • SBI Smart offers 30 free calls in a month. After that Rs 10 will be charged per call.
    • A minimum buy/sell order value of 1000 will only be accepted as an order.
    • Maximum 3 Scrips can be inquired per call.

    Discuss this question

Information about SBI Securities account opening, SBI Securities open account, SBI Securities opening charges, SBI Securities account opening charges, SBI Securities account opening status, SBI Securities amc charges, SBI Securities account charges and SBI Securities account closure.

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1 Comments

avatar
1. Ashok Verma  Feb 12, 2019 21:48 Reply
Kindly have your representative call me for opening a Demat Account.

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