SBI Demat Account Charges

Willing to open a Demat account with SBI Securities, then here it becomes important for you to know the SBI Demat Account charges.

Before diving into the details, let’s give you a quick overview of the broker.

SBICAP Securities Limited (SSL) is the stock USP of the State Bank Group. It is a full-service stockbroker founded in 2006 by Mr. Arun Mehta. Currently, the brokerage firm is offering broking, depository, retail, and third-party distribution services.

To get into a trade with the broker, the foremost step is to open SBI Demat account. The broker offers both online and offline mode to activate the account, but here it is important to know the charges levied to open the account.

 

SBI Demat Account Charges Details

Demat account helps investors to keep share securely in an electionic form. But SBI demat account comes up with certain charges.

To get started or to activate the account, you have to pay the account opening charges. This is one time payment. Other than this, there is SBI demat account annual maitenance charges.

In order to provide extra security to the account, the broker charges safety charges also known as custodian charges. Last but not the least, there are DP charges. These charges are imposed everytime you debit share from your SBI demat account.

Let’s talk about all these charges in detail.

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SBI Demat Account Opening Charges

As already discussed, you have to pay certain account opening fees. In case of SBI Demat Account, you have to pay a sum of only ₹100. 

Although the broker offers 3-in-1 account, but for SBI Trading account opening you have to pay the fees of ₹400.

Let’s summarize the demat account opening charges of SBI:

 

SBI Demat Account Call and Trade Charges  

There are mostly three points that need to be taken care of regarding the SBI demat account call and trade charges : 

1. A minimum buy or sell order value of ₹1000 will be accepted in the cash segment. 
2. You will be offered 30 calls in a month after that ₹10 (including taxes) will be charged per call. 
3. A maximum of 3 stocks can be made for an inquiry when a client calls. 

The above-mentioned charges are only applicable for those calls which are received and attended by the Call & Trade Desk for placing a trading order.

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SBI Demat Account Depository Charges

These are applicable to the Schedule of Charges for depository account :

 

Moreover, you need to remember the 2 points for the charges for rematerialization :

• ₹10 for each and every 100 security.
• A charge of ₹10 for every certificate whatsoever. 

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SBI Demat Account Annual Charges 2020 

To maintain your demat account, the broker charges certain Demat Account Annual Charges. 

SBI offers BSDA and thus offers flexibility to its customers for paying the annual fees. 

So, as per the regulation, if there are less than ₹50,000 in your trading account, no AMC is charged.

On the other hand, the trading account having ₹50,000 to ₹2,00,000 have to pay ₹100 and with more than ₹2,00,000 have to pay the AMC equals ₹400. 

SBI Demat Account Pledge Services : 

• If the counterparty is SBI or SSL then the charges are in two options- 0.02% of the total value or ₹25 (including CDSL charges). 
• If the counterparty is not SBI then the charges are 0.04% of the total value or ₹50 (including CDSL charges). 
• Charges for On-market as well as Off-market with POA through the internet is – 0.01% means the minimum amount is ₹21 and the maximum amount is ₹300. 
• Charges for the instructions submitted through branches -0.04% means the minimum amount is ₹30 and an extra ₹10 of every ISIN for late Submission.
• Charges for every failed and rejected instruction is ₹10.

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Conclusion

If you are looking ahead to open a demat account with a bank-based stockbroker then here is the most reliable stockbroker. Offering the best services at the minimum Demat account charges is what SBI Securities known for. 

By gaining all the information from your broker, you can move ahead with the account opening process and get your account opened in no time. 

Thinking to open a Demat Account? Please refer to the below form

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