How to Open a Demat Account in SBI-YONO? | Brokerage Charges in 2023

Time needed: 1 minute

Here are a few steps to digitally open this account via SBI YONO App:

1. Open the YONO app on your Mobile Device

   Firstly open the installed YONO app on your device. Secondly, key in your MPIN or INB credentials to log in to the app.
   

2. Click on Menu Option and Choose Investment from the dropdown

   Once you log in to the app, click on the three bars in the top right corner. After that, it will list down the option in a dropdown menu. Further, you can choose the Invest option from there.
   
   

3. Click on Invest and Select ” Open Demat and Trading Account”

   Now click on Invest. Under Invest option, if you scroll down you will see Open Demat and Trading account. Consequently, choose this option.
   
   

4. Click on Start Now Option

   Once you click on Start Option Option it will re-direct you SBICAP securities page. Wherein, you need to validate your basic details like Name, Email address, a mobile number followed with OTP authentication on mobile number. After that, click on Start Registration.
   

5. Enter your Pan number and DOB

   Please key in your PAN and DOB for validating your KYC details. Further click on ” Proceed to Personal details”
   

6. Just a Quick Check

   The data will be validated from Income Tax Department and auto-populate the data in respective fields. Request you to verify your address details. If not correct then do update the same and click on Confirm & Proceed button.
   

7. Enter/Confirm Additional Information

   The details will be auto-populated if something is missing you may key in. After that, click on ” Get OTP on Email”. Further, verify the OTP received on the mail address followed by accepting their terms & condition. Finally, click on ” Proceed to Bank details”.
   

8. Verify your Bank details

   As you’re applying via SBI YONO App, your saving bank details will auto-populate. Most Importantly, just verify them and click on proceed button.
   

9. Choose the brokerage Plan

   There are two plans, one is the Suvidha account in which account opening charges are zero and first-year AMC is waived off. The company is so transparent that upfront they show you the brokerage applicable under this plan. In case you’re not satisfied with the Suvidha account, you can choose Plan 499 which comes with complementary benefits. After that, choose the trading segment and click on proceed button.

10. Upload Documents

    In case your bank details are not verified then you’re supposed to upload the respective documents: Passport size photograph, Personalized or Nonpersonalized cheque, Bank statement for 3 months, Digital signature. After that, accept the terms and conditions and click on ” Proceed to IPV”
    

11. IPV Verification

    This is the last step of this proceeding. You need to hold the OTP written on white paper, followed by PAN & Address proof verification. Once it has been done, click on the Record button, it will take a few seconds to validate and You will get the message that the account will be activated in the next 24-28hours and will be notified on your mail address.