SBI YONO: How to open demat account on SBI YONO app to invest in LIC IPO

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Investors who are looking to invest in LIC IPO, or any other IPO for that matter need to have a demat and trading account. State Bank of India (SBI) customers can open demat and trading account with SBI Securities using the SBI Yono app.

SBI tweet said: “Open your demat and trading account on YONO now with no account opening charges & DP AMC completely waived off for first year. To apply, please login and go to investments section.”

SBI Securities, is a wholly-owned subsidiary of SBI Capital Markets Ltd and a part of the State Bank group.

A demat account is a form of account where electronic copies of shares and securities are kept. To conduct stock trading operations, you must have a trading account.

How to apply SBI demat account from YONO app

Step 1: Login on YONO SBI app using credentials

Step 2: Under main menu, go to the Investment section

Step 3: Click on Open Demat & Trading Account

Step 4: Enter all the required

Step 5: Click on ‘Confirm’.

According SBIcap FAQ, “The customer will be redirected to the SBICAP Securities website for opening a trading account. After filling in all the required details and submitting online, a reference number will be generated, which can be used to follow up with SBICAP Securities.”

If you want to check your account’s demat holdings in the SBI YONO app, you can do so by linking your account associated with the trading account of SBICAP Securities to link it on YONO mobile App or web Portal .

According to SBI website, it alerts customers to update their mobile number so that theu receive timely alerts and avoid any frauds related to it. ” Prevent Unauthorized Transactions in your demat account >> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL on the same day………………….issued in the interest of investors. ”

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