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:
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.
You can open a Demat account and an online trading account with SSL in the following ways-
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.
You need to submit following documents to open the trading and demat account:
For derivatives traders, a proof of income (i.e. latest salary slip, bank statement or latest ITR) is required.
To know the status of your account opening, you can use the online application tracker.
Steps to check SBI Account Open Status
Contact customer service in case your form is on hold or your account has not been opened after 15 days.
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.
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-
To close your SBICAP trading and demat account, you need to-
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.
Customer pays account opening fee for trading account opening with SBI Securities. The account opening fees are as below:
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
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.
All resident Indians and Non-Resident Indians (NRIs) can open an account with SBCAP.
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.
The charges are to cover expenses incurred for processing your application. The Trading + Demat Account opening charges are Rs. 850.
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.
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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