SBI offers Demat services that would ensure free transferability of securities with speed, accuracy and security.
SBI is Depository Participant both with - National Securities Depositories Limited (NSDL) and Central Depository Services Limited (CDSL) through more than 1000 branches -
Features & Benefits
As opposed to the earlier form of dealing in physical certificates with delays in transaction, holding and trading in Demat form has the following benefits:
Account Maintenance & Safe custody: Facilitates Maintaining Security Balance in electronic form.
Dematerialization: Facilitates converting physical share certificate into electronic balances.
Rematerialization: Facilitates converting the electronic balances to physical (share certificate) form.
Account Transfers: Facilitates delivery/receipt of electronic balances consequent to market / off-market trades.
Pledge/Hypothecation: Facilitates blocking securities balance of borrowers in favour of lenders for obtaining Loans / advances against shares.
Initial Public offer: Facilitates faster and direct credit of security balances into DP account on allotment through public issue of companies.
Disbursement of corporate benefits: Facilitates faster and direct credit of security balance into DP account on account of non-monetary corporate benefits as bonus and rights issues.
Security Lending: Facilitates earning extra income on your dematerialized holdings by the way of securities lending.
In fact what makes scripless holding in SBI DP account most attractive is the total ease of operation.
Apply Now for a Demat Account
Once you open your account, you can easily convert your physical holdings to paperless form by surrendering your share certificate together with a Demat request form. Thereafter, on selling / purchasing securities, you only need to give an appropriate instruction to effect settlement.
You Want To Trade Online?
Open Online Trading A\C With SBI Invest in Equity, MF, F&O & IPOs.
To enroll for our Demat Services you will have to open the following accounts:
· Bank Account with a Core Branch of State Bank of India
· Demat Account on Centralized DP of State Bank of India
To open a 3-in-1 account with us you can choose to open an online Trading Account with SBICap Securities Limited or Motilal Oswal Securities Ltd
List of Documents Required (Resident - Individual)
The following are the list of documents required:
a. Proof of identity – Copy of PAN Card
b. Proof of Address – Copy of any one of the following (Self Attested)
Electricity bill (not more than 2 months old)
Landline Telephone Bill (not more than 2 months old)
Bank Pass Book
c. Bank Proof – Copy of Bank Pass Book or Personalized Cheque leaf (For Existing Bank Account Holders Only) d. Photograph – Recent passport-size photograph
Account Opening Intimation
After the Demat account form is duly filled and submitted, you will receive a welcome kit containing within 10 working days.
The welcome kit will contain the following:
A welcome letter containing details pertaining to your account.
A product manual on “Demat Services”, to help you get started.
Delivery Instruction Slips and Client master list
· A leaflet on product features detailing the advantages of the online trading platform.
Your Demat Account number will be intimated to you by e-mail/ SMS if the mail-id/ mobile phone no. is written on the application form and also by courier or by post.