SBI Yono Trading Offer: For stock trading, you should have a Demat Account and Trading Account. Fees are also payable on both these accounts, but if you are opening these accounts through SBI Yono, then you will save Rs 1350. If you are not afraid of fluctuations in the stock market and want to invest a better return on your capital, then investing in equity is a better option. For this, you have to complete some necessary formalities without which you cannot trade and hold shares.
According to the information given by the bank, opening of these two accounts through SBI YONO will save Rs 1350. It will not incur an account opening fee of Rs 850. Apart from this, under the annual DP AMC (Account Maintenance Charge), a charge of Rs 500 will not be paid in the first year.
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This is how to open a Demat and trading account
- Log into Yono’s website.
- Click on the menu.
- Click on Securities in Investments under Financial Products.
- Click on Link / Open a New Demat & Trading Account.
- Click on Open Demat & Trading Account. After this, you can open your Demat and trading account by following the given steps.
How to open an account through Yono App
- Log in to the app.
- Click on the symbol at the top left for the menu.
- A dope menu will open. Click on invest in it.
- In the next menu, click on ‘Open Demat and Trading Account’.
- Click on ‘Open Demat and Trading Account’ option given through Through SBICap Securities.
- Then follow the steps given.
What is Demat and Trading Account
The shares or securities you have invested in (bonds, ETFs, mutual fund units, etc.) are kept in a demat account in digital mode. In contrast, only securities held in a demat account can be sold through a trading account. You can take positions for the purchase and sale of shares on the stock exchange only through a trading account. Brokerage firms charge for account openings.