Banking today has moved forward from the traditional account opening and loan disbursement activities. Today it is a world of challenges and the State Bank of India being the largest bank of the country has shown the way. SBI has its self explored various forms of revenue generation options. SBI demat services is a great service bank is offering to its clients. Now before you get into the minute details let me tell you something about demat services.
A demat account is a place where you can keep stocks which you are buying in the market. It very much performs like a bank account. In a bank account, you normally keep money. Here you are keeping stocks. The one difference here is that while for a bank account you are not charged anything while here you will have to pay an annual fee.
The Indian stock markets are witnessing a heavy bullish phase since the last two decades. It is due to this bullishness more and more people are entering the stock markets. The State Bank of India is an ideal place for someone to open a demat account and trade in the markets. SBI offers clients demat and trading services via the eZ trade SBI online share trading services. It is a very nice process as you it removes the process of filing up different application form. It helps you to trade in equities, commodities as well as mutual funds.
You can also open multiple accounts with the State Bank of India. In fact, to have the advantage of demat facilities with the SBI you can open a three in one on line trading account with the bank. It gives you the advantage of a savings account, current account as well as a demat account. The advantages you enjoy if you opt for the demat account are very much similar to that of any other savings account. You are entitled to a SBI debit card. You can thus access money from any of the 5500 ATM counter operated by SBI all over the country. Today under the RBI guidelines, you can even withdraw money from ATMs of other banks using your SBI debit card. You can also shop using your SBI debit card. It can be also used in restaurants. It performs all the functions of a credit card other than the credit limit. Here the limit is the amount of money you have in your savings account.
SBI demat service enables you to access various online reports, which tell you about the market response of the various mutual funds that have been launched. You can also get a complete detailed report of the gainers or losers of the various indices.
Now if you want to know something more about the demat services of SBI you can enquire about it by dialing the 24 hr customer care service of the State Bank of India. Here you will have to dial a toll free number and you will be able to speak to the customer care executive over the phone. Now after you have opened the demat account you can login to your to your demat account. The address of the website will be given to you once the account is opened.