Opening an SBI demat account online is easy and allows investors to conveniently buy and sell shares on the stock market. Here is a step-by-step guide to open an SBI demat account online and start investing.
What is a Demat Account and Why Open One with SBI?
A demat (dematerialized) account is used to hold financial securities like stocks, bonds, ETFs, etc. in electronic format. To invest in the stock market, having a demat account is mandatory as per SEBI guidelines.
An SBI demat account offers the following benefits:
- Trusted brand name and reputation of SBI
- Competitive pricing of demat account opening and annual maintenance
- Robust online and mobile platforms for easy trading
- Extensive branch network for assistance
- Seamless transfer of securities from other demat accounts
Overall, SBI demat account is a preferred choice for stock market investors due to the brand value, pricing and convenience offered.
Eligibility Criteria to Open an SBI Demat Account
To open an SBI demat account, an individual needs to fulfill the following eligibility criteria:
- Must be a Resident Indian
- Minimum age of 18 years
- Valid identity and address proof
- PAN card is mandatory
- Bank account in SBI (salary account preferred)
Additionally, the KYC documents are required for completing the SBI demat account opening process.
Documents Required for SBI Demat Account Opening
Here are the KYC documents needed for opening SBI demat account:
- PAN Card (mandatory)
- Aadhaar Card (for address proof)
- Passport size photographs
- Cancelled cheque leaf
- Income proof documents
- Address proof: Aadhaar, Voter ID, Passport etc.
It’s advisable to keep self-attested photocopies of KYC documents ready before initiating the SBI demat account opening process online.
Step-by-Step Process to Open SBI Demat Account Online
Step 1) Visit SBI Official Website
Go to the official website of State Bank of India (SBI) at www.sbi.co.in or www.onlinesbi.com. This is the online portal of SBI to access various services including opening of demat account. You can also directly visit the SBI demat account opening page at https://www.onlinesbi.sbi/ by typing the URL in the address bar of your internet browser.
Ensure that you are visiting the legitimate website of SBI for initiating the demat account opening process. Do not access any unknown or unauthorized websites which may be phishing portals.
Step 2) Click on ‘Personal Banking’ Tab
On the homepage of SBI website, you will see options like ‘Personal Banking’, ‘Corporate Banking’, ‘NRI Services’ etc. Click on ‘Personal Banking’ option. This option is generally present on the top right corner of website’s homepage.
Clicking on Personal Banking tab will lead you to the page containing various services offered by SBI to individual customers like saving accounts, fixed deposits, loans, credit cards etc. You need to navigate further to reach the demat account opening page.
Step 3) Click on ‘Demat Account’ Link
Under ‘Personal Banking’ section, click on ‘Investments & Deposits’ sub-section. Here you will see options like savings accounts, fixed deposits, recurring deposits etc. Look for the link named ‘Demat Account’ and click on it.
This will lead you to the webpage specifically meant for opening of SBI demat account by individuals. Make sure you are not landing on any other page.
Step 4) Click on ‘Open Demat Account’
On the SBI demat account page, you need to click the tab or button named ‘Open Demat Account’. This will initiate the online application form filling process for new demat account with SBI.
The button or link for opening demat account is clearly visible on the page. It is generally highlighted or encircled and hard to miss. But do look for it carefully and click it.
Step 5) Provide Demat Account Type
You will be asked to select the type of demat account you want to open with SBI. There are three options:
- Individual Demat Account – For general investors who want to invest in their own name.
- Joint Demat Account – For two individuals who want to invest jointly. Additional details of the second holder are required.
- Minor Demat Account – For opening demat account in the name of a minor (below 18 years). Additional details like name and PAN of guardian etc. are required.
Choose the appropriate option as per your requirement. Individual demat account option is most commonly selected by investors.
Step 6) Fill in Personal Details
Based on the type of account you selected in previous step, you need to provide following personal details:
For Individual Demat Account:
- Full name
- Date of Birth
- Gender
- Marital Status
- Nominee Details
For Joint Demat Account:
- Primary Holder Details as above
- Second Holder Details like name, DOB, gender etc.
For Minor Demat Account:
- Minor’s Details like name, DOB
- Guardian Details like name, relationship with minor, PAN etc.
Provide all details accurately as per your identity and address documents. The details should match with your PAN and Aadhaar card.
Step 7) Enter Contact Information
You need to provide valid contact details while opening SBI demat account online:
- Registered Email ID – Most communication will happen over email
- Mobile Number – For SMS notifications
- Address Details – Residential and Office address with PIN code
- Landline Number (optional)
The email ID and mobile number provided will be verified by OTP so they must be active and accessible. You will get important alerts and messages from SBI on these contact details.
Step 8) Provide Bank Account Details
A bank account is linked with the demat account for seamless funds transfer for buying stocks or credit of dividend/proceeds from sale of shares. You need to provide following details:
- Bank Name – SBI in most cases
- Branch Details
- Bank Account Number
- Account Type – Savings/Current
- IFSC Code
- MICR Code
It is recommended to link your SBI savings account with salary account status for smooth verification. Else you may need to submit additional documents later.
Step 9) Upload KYC Documents
For completing KYC verification, you need to upload scanned copies of following documents:
- PAN Card – Mandatory document for demat account opening
- Aadhaar Card – For address and identity verification
- Passport Size Photo – High quality image with white background
- Cancelled Cheque – For bank account verification
- Income Documents – Form 16, salary slips etc.
- Other address proofs – Passport, Voter ID, Driving License etc.
PAN card is must for demat account. Other documents help in smooth KYC approval. Upload good quality scanned copies for clarity.
Step 10) Make Account Opening Payment
You need to make onetime payment towards demat account opening and annual maintenance charges. Payment can be done via:
- Net Banking – For instant payment from linked bank account
- UPI Apps – Like BHIM, PhonePe, Google Pay etc.
- Debit Card – Debit card of any bank can be used for payment
- Credit Card – Visa, Mastercard, Amex cards can be used
The payment has to be made online. SBI provides multiple payment options for the convenience of investors.
Step 11) Submit Demat Account Opening Form
After completing all above steps carefully, accept the declaration, verify your details and submit the SBI demat account opening form online by clicking on the submit button. An OTP may be required for final submission.
This completes the online application process. The physical verification will be done by SBI and your demat account will be opened after approval.
Opening an SBI demat account online is quick and convenient for investors to seamlessly start investing in the Indian stock market. Follow the steps above, provide accurate details and upload KYC documents for fast demat account opening with SBI. Start researching stocks, make wise investments and grow your wealth by opening SBI demat account digitally.