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How to Open SBI 3-in-1 Account Online? | What is SBI 3-in-1 Account? | Charges in 2022

How to Open SBI 3-in-1 Account Online? | What is SBI 3-in-1 Account?

Recently the largest bank of India the SBI has announced the launch of a 3-in-1 account for the investors who’re planning to explore the new investment avenues to start 2022 with a bang. Most importantly, if you were waiting for SBI to launch the 3-in-1 product, then here we are. We will introduce you to the new product of SBI Securities and How to open an SBI 3-in-1 account online.

Also Read Zerodha 3-in-1 Account vs Upstox 3-in-1 Account – Review, Features, Brokerage Charges & more

What is SBI 3-in-1 Account?

As the name goes, it’s a 3-in-1 account which means all the 3 three accounts: saving, trading, and Demat accounts will be together to provide a seamless trading experience. It’s a completely paperless and hassle-free process to open an account digitally from their platform. Simply you can experience the power of three accounts in one. Moreover, to start investing in the stock market, it’s mandatory to have a Demat and Trading account but to fund the trading account on a real-time basis you need a saving account. Therefore, now all three accounts are under one roof. To woo the customer, SBI launched this product with an E-Margin facility.

With the E-Margin facility, you can buy stocks with as low as 25% margin and carry forward the position for up to 30 days. Certainly, you can choose the delivery or square off the position before the expiry of 30 days. There is no interest charge applicable on the E-margin option. Let’s discuss the key offering of the rebranded product:

  • Zero account opening charges with first year AMC wavied off.
  • Second year onward Rs.400 will be charges as Annual Maintenance Charges. (Rs 350/- for customers receiving statements by e-mail).
  • Account holder will have an option to keep margin in the form of cash or stocks.
  • You get lower margin as low as 25% without any interest charge to leverage trading facility.
  • Account holder can carry forward the position upto 30 trading days. After that, if you don’t take delivery or square off then SBI team will square off the entire position.

Also Read Upstox 3-in-1 Account – Charges, Minimum Balance & Opening Online

Brokerage Charges in 2022

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Please find the brokerage applicable for the trading:

Source: SBI Securities

Also Read Edelweiss Tx3 vs Xtreme Trader [2021]-Review and Features

How to Open SBI 3-in-1 Account Online?

Time needed: 1 minute.

Here are a few steps to digitally open SBI 3-in-1 account via SBI YONO App:

  1. Go to the SBI Securities Website

    You can simply visit the SBI Securities website or click on this URL to open an account: https://digikyc.sbismart.com/SBIDIY/register?

  2. Click on Start Registration

    You need to enter your basic details like Name, Email address, a mobile number followed by OTP authentication on the mobile number. After that, click on Start Registration.

  3. 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”.

  4. 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.

  5. 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”.

  6. 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.

  7. 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.

  8. 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”.

  9. 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.

  10. Digitally Sign the Application

    Post you complete your application you will get an email to digitally sign your application for processing. After that, in the next 72 working hours, you will get intimation from SBI Securities that the account is now activated you can start your journey with us!

Also Read ICICI Bank 3-in-1 Account – Charges, Minimum Balance & Opening Online Account

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