State Bank of India (SBI) demat account is the account that holds all shares of account holders in electronic or dematerialised form, informed country’s largest lender on its official account. SBI’s demat account holds the certificates of financial instruments like shares, bonds, government securities, mutual funds and exchange traded funds (ETFs). According to SBI, demat account enables converting physical share certificate into electronic balances. Also, it facilitates delivery/receipt of electronic balances consequent to market / off-market trades, further said SBI on its official website.
10 things to know about SBI’s demat account:
- Customer can call the dedicated customer care 24X7 for all the queries, stated SBI.
- Demat account can be operated anytime from any of the 1000 plus demat enabled branches of SBI.
- Customers can receive the account statement and bill by email.
- Demat services online facility lets user operate from the comfort of home or office through SBI’s internet banking facility. (Also read: SBI’s Flexi Deposit Scheme Explained in 10 Brief Points)
- Online demat statements allow users to view demat account details, statement of holdings, statement of transactions and statement of billing online.
- Customer can order delivery instructions booklet online and the same would be delivered at doorsteps. (Also read: SBI’s Revamped Gold Deposit Scheme: Interest Rates, Eligibility And Other Details)
- Users can transfer or pledge/unpledge securities online anyplace, anytime.
- Customers can even receive SMS alerts for all debits/credits as well as for any request which cannot be processed. (Also read: SBI ATM-Cum-Debit Card: SBI’s Safety Message To Customers, Withdrawal Limit, Other Details)
- In case you want an online trading facility, you can have it with SBI Cap Securities Limited. This service provides you with a 3-in-1 account which is an integrated platform of Savings Bank account, Demat account and Online Trading account to give a convenient and paper free trading experience, informed SBI on its portal.
- SBI’s demat account facilitates earning extra income on dematerialised holdings by the way of securities lending.
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