SBI Securities or SBI Capital Securities, is the stock broking arm of the State Bank of India. The major purpose of this extension is to allow investors and traders to invest in stock markets in the easiest and most efficient manner. In this SBIcap Securities review, we have covered all detail about its 3-in-1 demat account, brokerage, SBI Securities charges, trading platforms, IPO, and more.
Set up in 2006, SBI Securities is considered one of the best stock brokers in the country. The major services offered by SBICAP are Institution Equity, Retail Equity, Derivatives, Broking, Depository Participant services and E-Broking. They also give online trading product to investors & traders.
With its headquarters in Mumbai, SBICAP Securities enjoys fabulous presence in over 114 locations across the country. The company currently has in its fold a wide range of clients, including banks, financial institutions, FIIs, mutual funds, corporations, high-net-worth people, non-resident Indians, and retail domestic investors.
The stock broker supports its valued customers by featuring a dedicated service of relationship managers and advisors through whom they can transact and interact more easily.
As it is a bank-based stock broker, SBICAP Securities provides a 3-in-1 demat accounts to its clients, which allows them to transfer funds between trading and bank accounts manually.
- Over two decades of experience in the trading & investment business
- Manages retail, institutional and HNI investors
- Offer a complete suite of financial products
- Multiple service channels (online and branches)
- Over 115 branches across the country
- 1000+ work force providing doorstep services
- The availability of 3-in-1 account
- YONO App offer online paperless instant account opening (e-KYC and Aadhar integrated)
- NRI Trading and investment services are available
SBICAP Securities offers a range of trade & investment products:
- Equity
- Derivative Trading
- Currency Trading
- IPO
- Mutual Funds
- NRI Demat Account
- Home Loans
- NCDs
- NFOs
- ETFs
- Loan against Securities
Membership Information
The membership details of SBI Securities are given below.
| Entity | Membership ID |
|---|---|
| SEBI | INZ000200030 |
| DP Reg. | IN-DP-314-2017 |
| RA | INH000000602 |
| PMS | INP000004912 |
| IRDA | CA0103 |
| CIN | U65999MH2005PLC155485 |
| Registered Address | Sbicap Securities Ltd., A&b Wing, Marathon Futurex 12th Floor, N.m.joshi Marg Lower Parel, Mumbai – 400 013 |
How to Open Demat account with SBICAP Securities
SBI 3-in-1 Account is a widely popular product by State Bank of India. This includes a bank account, a trading account and a demat account. The 3-in-1 account offers:
- An extensive variety of investment options
- Unified transactions between these 3 accounts
- Invest in fixed deposits, securities (share market), bonds, pension schemes and mutual funds
- Trade in stock and commodity at BSE, NSE and MCX
- Handle all three accounts online
There are primarily three ways to open a trading account and demat account with SBICAP.
- SBI Online Account Opening: Open a web-based quick paperless trading and the demat account using YONO App by SBI.
- Visit Branch: Visit any of the SBI branches near you and perform the account opening process.
- Give a Missed Call: You can give a missed call at 092667 92667 and the company representative will get back to you for further formalities.
YONO is a smartphone app provided by SBI. This one single app is supposed to help you manage all your banking and investment needs. You could use this app for banking, trading, insurance, investments, shopping and online account opening.
You could open an SBI 3-in-1 account online using YONO Mobile App. Just need to visit the nearest branch only once for in-person verification.
SBI Securities Account Opening Charges
Customers need to deposit account opening fee against the opening of trading account with SBI Securities. The account opening fees are as below:
- SBI Securities Account Opening Charges (Trading Account): ₹850
- SBI Securities AMC Charges (Trading Account): ₹0
- SBI Securities Account Opening Charges (Demat Account): ₹0
- SBI Securities AMC Charges (Demat Account): ₹350
How to check your account opening status?
To get the status of your account opening application, the best way forward is to use the online application tracker.
Steps to check SBI Account Open Status
- Go to SBI Smart website
- Click on ‘Customer Service’ button given in top right corner
- Click ‘Account Opening Status’ link on the customer service page.
- Mention your Application Number and PAN Number to get the status.
Contact customer service if your form is on hold or your account has not been opened even after 15 days.
Documents Required
You need to submit following documents to open the trading and demat account:
- Copy of AADHAR Card
- Copy of PAN Card
- Proof of Address: Passport, Bank passbook, Driving License, Utility Bills etc
- Canceled Cheque
- Passport Size Photo
For derivatives traders, a proof of income (i.e. latest salary slip, bank statement or latest ITR) is required.
SBICAP Trading Platforms
The only good thing with SBICAP is that all their trading platforms for desktop, web and mobile devices are developed in-house, which means you can expect to get full-fledged support in any situation. Here, it is important to mention that not all stock brokers in the country understand the importance of trading platform for today’s investors and outsource this job to a third party.
However, there are various areas where SBICAP needs to put in more efforts, especially with respect to performance, user experience of these trading platforms. Let’s get to know more about them one by one below.
SBI Smart Xpress
SBI Smart Express is a desktop terminal-based trading tool from SBI Securities that can to be downloaded and installed on your computer or laptop. The software is pretty useful for high-frequency traders who always strive to get high performance and rapid order execution.
Salient features of SBI Smart Express:
- Prepare and monitor market watchlist.
- Access to live streaming of market information.
- Utilize historical data for technical and fundamental analysis.
- Receive on-screen alerts.
- Reposition the column display as you want.
- Change the color scheme to give it a personalized look.
- Get an updated trade book and order book with auto refresh feature.
- Next-gen charting tools with multiple technical indicators.
- Cancel, modify or square of the position of pending orders.
- Get research call and reports provided by experts.
SBI Smart Web
SBI Smart Web is a browser-based trading platform that is available via a link without the need of any downloads or installations. The user just needs to provide legal credentials and can begin trading after logging into the application. It is a responsive application and therefore, can be accessed using any device such as Desktop, Laptop, Mobile or Tablet.
Salient features of SBI Smart Web:
- Stock trading across multiple segments and multiple exchanges (BSE, NSE).
- Customizable screen to include multiple windows and widgets.
- Create your own market watchlist.
- Access to real-time quotes for equity and F&O.
- Refer to stock screener to analyze the stocks which are not performing as per your requirements.
- Place AMO (After Market Order) for future trades even after daily trading hours.
- Access to research reports, analytical tools and financial calcuators.
SBI Smart Mobile App
SBI Smart Mobile app is a typical mobile trading application in regard to performance and user experience. It features a nicely designed user interface and has a large number of features but when it comes to using the application, users might come across difficult time in terms of the usability of the app.
Salient features SBI Securities’ Mobile app:
- Get latest live quotes.
- Access the research calls and reports.
- Execute, modify or cancel the pending orders instantly.
- Check your net positions and holdings.
- Get comprehensive information on the stock market.
- Rapidly transfer funds online.
- Check the total margin and available limits.
SBI Securities Customer Care, Rating and Review
The customer service of this full-service stockbroker can be accessed via the following communication channels, as shown:
- Toll-Free Number
- Web-form
- NRI-Calling
- Physical Branches
In case of SBI Securities, the customer service quality varies a lot. When respect to basic administration and account-related activities, the support delivered by SBI Securities is pretty good and comes with quick turnaround time. In fact, answers to a lot of your queries are provided on their website itself.
However, when it comes to get insightful customer services in regard to issues related to the use of trading software, things are not up to the mark and even below par. Most of the time, technical support does not really have much knowledge of their trading applications and associated concerns.
In case even if they manage to do, the turnaround time does not seem to have any SLA to it. In other terms, the time the support team takes in order to solve your query has no set deadline and most of the time you might be kept waiting to get a response on your query.
Thus, keep your expectations quite low with respect to the customer support of SBI Securities.
SBICAP Securities Charges
In regard to the pricing structure of SBICAP Securities, it is suggested to take into account the account opening/maintenance charges, transaction charges, duties, taxes and so on. Let’s take a detailed look at the charges below.
Account Opening Charges
- Trading Account Opening Charges (One Time) ₹850
- Trading Annual Maintenance Charges AMC (Yearly Fee) ₹0
- Demat Account Opening Charges (One Time) ₹0
- Demat Account Annual Maintenance Charges AMC (Yearly Fee) ₹350
SBICAP Securities Brokerage Charges
| Segment | Brokerage Charges |
|---|---|
| Monthly Fee (Fixed) | |
| Equity Delivery | 0.50% |
| Equity Intraday | 0.05% |
| Equity Futures | 0.05% |
| Equity Options | ₹100 per lot |
| Currency Futures | 0.03% |
| Currency Options | Rs 30 per lot |
| Commodity Futures | NA |
| Commodity Options | NA |
SBI Securities Demat Account Opening Charges
| Sr. No. | Fee Head | Type | Fees |
|---|---|---|---|
| 1. | Account Opening | – | ₹ 850 |
| 2. | Dematerialization | Certificate + Dematerialisation Request | ₹ 5 per certificate + ₹ 35 per request |
| 3. | Rematerialisation | Rematerialisation Request | ₹ 35 per request + ₹ 10 for every hundred securities or part thereof; or a flat fee of 10 per certificate whichever is higher |
| 4. | Annual Maintenance Charges | Holding Less than 50,000 Holding greater than 50,000 Less than 2,00,000 Holding greater than 2,00,000 | Nil ₹ 100 per annum ₹ 500 per annum |
| 5. | Pledge Services | If SSL/SBI is the counter party If SSL is not the counter party | 0.02% of Value or Min ₹ 25 whichever is higher (Plus CDSL Charges) 0.04% of Value or Min ₹ 50 whichever is higher (Plus CDSL Charges) |
| 6. | On-Market (Sell Market) / Off Market | with POA (applicable for On Market Instructions only) For instruction submitted through internet For instruction submitted through Branches Buy- market and off-market Rejection / Failed instruction | 0.01% (Min. ₹21 Max. ₹300 ) 0.01% (Min. ₹21 Max. ₹300 ) 0.04% (Min. ₹30) Extra Charges of ₹10 per ISIN for Late submission Nil ₹10 per failed instruction |
| 7. | Additional Accounts Statements | By Courier By Email | ₹ 30 Nil |
Transaction Charges
| Segment | Transaction Fee |
|---|---|
| Equity Delivery | NSE: 0.00386% | BSE: 0.00384% |
| Equity Intraday | NSE: 0.00386% | BSE: 0.00384% |
| Equity Futures | NSE: 0.002206% (₹221/Crore) |
| Equity Options | NSE: 0.05515% (₹5515/Crore) |
| Currency Futures | 0.002206% |
| Currency Options | NSE: 0.05515% (₹5515/Crore) |
| Commodity |
SBI Securities Margins
The exposure or margin details of SBI Securities are mentioned below.
| Trading Segment | Margin SBI Securities |
|---|---|
| Equity Delivery | 2x with Intrest |
| Equity Intraday | Upto 5x |
| Equity Future | Nil |
| Equity Options | Nil |
| Currency Future | Nil |
| Currency Options | Nil |
| Commodity Future | NA |
| Commodity Options |
SBI Securities Research
As a full-service stockbroker, it is possible to get access to research reports and investment advice on a regular basis. Some of the research products SBI Securities provides to its client base include:
- Fundamental Reports– where you are given with insightful research on particular stocks and companies coming from various sectors. You will be given a recommendation on Buy or Sell or Accumulate or Hold based on the market situation and conforming impact on the stock focused on.
- Screeners – are valuable for an instant look of the market impetus and which exact stocks you should watch out for rapid profit and exit. These insights are provided across Equity and Derivative segments.
- Heat Maps– as you would know, heat maps help in discovering the specific stock’s trend by the usage of specific color codes. This saves a lot of time for users who are looking to make a quick buck through intra-day trades.
If you are a client of SBI Securities, you will be given Heatmaps, though any basic trading platform will anyway allow you with such a feature. - Bubble Map– gives you with a comparative study of various stocks in one go with an impression of their specific movements in the stock market. In addition, different color codes are used to give an even quicker idea of the movement type.
One thing that is of major importance when it comes to research is accuracy. And this is the area where the technical tips of this full-service stockbroker falter pretty badly.
SBI Securities IPO
SBICAP Securities doesn’t accept IPO applications through its trading platforms. However, there is an option to use the SBI bank account net-banking services to apply for the SBI Card IPO.
You would be required to access to net banking and your SBICAP Demat Account details at the time of applying for IPO Shares.
If shares are allotted to you in the IPO, the shares are credited in your SBICAP Demat Account. You can hold them or sell them from your SBICAP Trading Account. You can sell the IPO shares the same way as you sell any other shares from the trading account.
SBI Important Information:
- SBI permits up to 5 IPO applications using the same bank account. If you have 5 demat accounts on your family or friend name, you could apply for IPO shares in all these accounts using your single bank account.
- For optimum allotment in top-performing IPO’s, it is suggested to open and use the demat account on each of the family member’s name.
| Category | From | Till |
|---|---|---|
| Online IPO Application Timings | 9 AM (on IPO Opening date) | 2 PM (on IPO Closing Date) |
| Offline – Physical Submitting in Branch | 9 AM (on IPO Opening date) | 3 PM (on IPO Closing Date) |
Note that IPO Application can be reset or withdrawn in the time frame given above. In case of full application withdrawal, money gets discharged in your bank account by end of the day.
Steps to Apply SBI IPO by Net Banking
To apply for SBI IPO using SBICAP demat account and bank account, you need to follow these steps:
- Login to your SBI net banking account
- [First time only] Add your name as an applicant by:
- Click on the ‘Profile’ tab on the top menu
- Now, click on the ‘Manage IPO Applicant’
- In the next step, enter you SBI Net Banking Profile Password and Click on Submit
- Enter your Name, PAN, Depository details etc., and click on ‘ADD’
- Check the included details and click on ‘Confirm’
- Enter the OTP sent on your mobile and click on ‘Confirm’
- You will get a confirmation message on the successful addition of applicant
- Go to e-Services > Demat and ASBA Services > Click on IPO Enquiry
- Accept the ‘Terms and Conditions’
- Select the IPO you wish to apply from the list of IPOs available and click on ‘Go’
- After reading the letter, click on ‘Accept’
- Select Investor Category
- Select Applicant. In the pop-up window, select the nickname of the applicant
- Enter Bid Price, quantity etc., and click on ‘Submit’
You will get a confirmation email/SMS once your application is submitted successfully. The total application amount will be reserved in your bank account. The money will be debited if you are allotted shares; else it will be unclogged once the allotment process is over.
Once shares are assigned to you, they get credited to your SBICAP Demat Account. These shares will be qualified for trading on the day the company gets listed on the stock exchange.
The Conclusion – SBICAP Securities Review
SBI Securities, as a bank-based stockbroker, gives its clients with a sense of ‘trust’ when you are looking for top-performing stockbrokers to open a trading account with. However, you need to see what you are looking for and what your requirements are.
This full-service stockbroker is pretty good in offline coverage, satisfactory in trading platforms and quite low as far as brokerage, margin and service are taken into account. Make sure you make your choice after considering your broking needs and your budget.