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SBI Demat Account
|Opening an SBI Demat Account allows customers of the bank to get the best of Demat services that ensures fast and secure transferability of securities and shares. SBI Bank is a Depository participant with National Securities Depositories limited and Central Depository Services Limited. State Bank of India Demat Services is specially introduced for those investors who are looking to trade in stocks, shares and securities. SBI Demat services highlight a number of benefits and features such as;
- Safe account maintenance with security balance in electronic form
- Facilities to convert physical shares into electronic balances
- Rematerialization of the electronic balances into physical form
- Facilitate delivery of electronic balances pertaining to market or off-market trades
- Get faster credit of security balance into your DP account for non monetary corporate benefits
- Earn extra income through your dematerialized holdings by lending securities
SBI Demat Account Charges
SBI Bank charges some fees and maintenance costs for providing Demat account and services. The following is a list of State Bank of India Demat Charges;
- Account Opening: Nil
- Annual Maintenance Charges: Rs. 400 /- (Rs. 300/- for those customers who receive statements through e-mail).
- Agreement Stamp Paper: Rs. 100 for agreement between BO and DP; Rs. 200 in case if POA for eZ instruction is signed.
- Buy Market and Off-Market: Nil
- Rejection/Fails: Rs. 10 per failed instruction
- Dematerialization: Rs. 35/- for every request form and Rs. 2/- for every certificate.
- Rematerialisation: Rs. 25/- for every request form
- Account Closure: Nil
- Additional Account Statements: Rs. 30 by courier and no fees by e-mail.
- Buying Equities: Nil
SBI Demat Account Form
In order to get the Demat services offered by SBI, you are required to open a bank account with one of the core branches of SBI and a Demat account with centralized DP of the Bank. Moreover, you can open a 3-in-1 account by choosing an online trading account with Motilal Oswal Securities Ltd or SBICap Securities Limited. A number of documents to prove your residential and individual identity are required to be submitted along with the Demat account opening form. Essential document includes proof of identity (copy of PAN Card), proof of address (copy of passport, ration card, voter's ID, driving license or landline telephone bill), bank proof (copy of pass book/personalized cheque leaf), and recent passport size photograph.
After submitting the Demat account form, you will get a welcome kit, most probably within 10 business days. The welcome kit will contain a welcome letter providing details of your account, a product manual of Demat services and delivery instruction slips with client master list. The Demat account number will be provided to you through e-mail or SMS if you have mentioned your mobile no. and e-mail ID in the application form.
SBI Demat Account Customer Care Number
For more demat account details relating to account closure or to make complaints against demat services kindly contact the helpline number mentioned below.
Toll free: 1800 11 22 11
|State Bank of India |
SBI Demat Online Trading offers power packed demat account that highlights a range of beneficial features. Get further details on demat services from the official SBI website.|