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YONO-SBI Demat Account Charges – What is YONO-SBI Demat and Trading Account?

YONO-SBI Demat Account Charges

YONO-SBI Demat Account Charges

In the series of Demat accounts, I thought of introducing you all to the YONO-SBI Demat Account Charges. You must be expecting what I’m going to cover in this article, let me tell you I will cover “How you can open a Demat cum Trading account via SBI YONO App” and “What charges are applicable for opening the account along with AMC”.

Also Read What is SBI Demat Account | How to Open Demat & Trading Account in SBI?

What is YONO-SBI Demat and Trading Account?

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To simplify the life of users, SBI has provided a path to open SBI Demat cum Trading Account via YONO SBI App itself. As YONO stands for ” You Only Need One” hence it integrates the products and services offered by SBI & its subsidiaries. It’s a one-stop solution for all the customer’s needs in terms of banking & investment. Therefore, if you have an interest in the capital market and are ready to explore something exciting. Then definitely, it’s a must article for you to read.

Also Read How to Open Demat Account in SBI-YONO?

By opening a Demat cum trading account with SBI, it guarantees you these features:

  1. You will be the part of trusted bank which offers you transparency in their dealing.
  2. The account you will be opening via YONO app will link your SBI saving account with Demat plus Trading account. Thus, giving the facility of 3-in-1 account.
  3. SBI securities latest mobile app comes witn exciting features and latest functionalities.
  4. Helps in portfolio valuation on real time basis.
  5. Offers competative brokerage plans with lucrative offers.
  6. You can place advance order types for leverage positions.
  7. In addition, it gives quite user friendly interface as you can login quicky with your Face ID, fingerprint,or MPIN.
  8. You can Trade with just one Tap whereever you are on your Andriod or IOS Devices.
  9. On opening an account with SBI securities, you get a dedicated relationship manager to get the professional advice customized to your need.
  10. Most Importantly, you get 24*7 customer support round the clock to solve your doubts/queries.

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How to Open Demat cum Trading Account via SBI-YONO App?

As now we know the benefits of the accounts, let’s keep these documents handy to open an account via YONO App for a seamless experience:

  1. Pancard
  2. Photo, Cancelled Cheque
  3. Address Proof: Voter ID, Driving License,Aadhar Card, Passport, Central or State Government ID card
  4. To sign the document digitally, need to ensure your mobile number/email address to be updated in Aadhar Database.

Also Read YONO SBI Registration with & without Internet Banking – A Complete Guide

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.

YONO-SBI Demat Account and Trading Account Charges in 2022

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As the plan linked to SBI YONO is a Suvidha account so please have a look at the account opening & brokerage charges:

  1. Account Opening charges for Suvidha account is zero. Above all, annual maintenance charges are waived off for the first year and applicable from second year onward.
  2. From second year onward, AMC will chargeable Rs.400/- (Rs 350/- for customers receiving statements by e-mail)

Also Read RBI RDG Account – Buy & Sell G-Secs, Bonds, T-bills, and State Development Loans

Source: SBI Securities

Also Read Complete Account Charges in 2022

Hope you like this article. In case you have any queries or concerns, please drop your comments in the contact us form.

Also Read SBI Gold FD – Features | Types | Interest Rate | Applying Procedure

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