State Bank of India recently introduced a new type of account where you can open 3 accounts in one go. This is a convenient way of opening a bank account because of the ease and quick account opening timings.
In this article, we will discuss How to Open SBI 3-in-1 Account? Account Opening Process, Documents Required, etc.
But first, let’s find out what is SBI 3-in-1 Account is!
Table of Contents
What is SBI 3-in-1 Account?
SBI 3-in-1 account is a type of account using which you can open 3 accounts in one go. These three accounts are- Savings Account, Trading Account, and Demat Account.
Nowadays, everyone needs a savings account to save money but the investment is also a very important part of financial freedom and therefore, trading and Demat accounts have been an important part for an individual.
This account fulfills all these needs and you do not have to apply for each account one by one, you can simply apply once and you’ll get three accounts.
Features of SBI 3-in-1 Account
The following are the features of the SBI 3-in-1 Account?
- 3-in-1 Account in which you’ll get Savings Account, Trading Account and Demat Account
- Fully Paperless KYC verification done online
- You’ll also get eMargin facility on your trading account as low as 25% and carry forward position up to 30 days using cash or collateral
Documents Required for Account Opening
The following are the documents required for Account Opening-
Savings Bank Account:
- PAN or Form 60
- Photograph
One of the Officially Valid Documents (OVD) as under:
- Passport
- Proof of possession of Aadhar
- Driving License
- Voter ID Card
- Job Card issued by MNREGA
- Letter issued by National Population Register containing details of name and address
Demat & Trading Account
- Passport Size Photograph (One)
- Pan Card Copy
- Aadhar Card Copy
- One Cancelled Cheque Leaf / Latest Bank Statement.
How to open SBI 3-in-1 Account?
You can follow these steps to apply for SBI 3-in-1 Account online-
- Visit the Official Website
Visit the website of SBI securities and click on the Open an Account button followed by entering your details in the given field like name, email, and phone number
- Validate OTP
Now, an OTP will be sent on your mobile number, enter it in the relevant field and click on the Start Registration button
- Enter PAN details
On the next screen, you’ll have to enter your PAN card number and date of birth followed by clicking on the proceed button
- Fill the form with correct details
Now, you’ll be redirected to a partially filled form based on your Aadhaar card and PAN card details which you have to complete by filling the relevant field with your personal information
- Choose open a Savings Account option in the Bank details section
In the bank details section, you have to choose to open a savings account in case you already have an account with SBI, you can simply provide your existing account and your Demat, trading account will be connected with your existing account
- Provide Additional documents if choose new savings account opening
In case, you’ve chosen a new account then you’ll have to provide some additional documents which are mentioned below
- choose the Pan that you want to subscribe to
In the next step, you have to select the segmentation where you want to trade and choose the plan you want to subscribe to. You can choose the Regular with DigiFree option to open the Demat and Trading Account for free
- Upload the documents
Now, you’ll have to upload the documents by clicking on the proceed button
- Click on the Verification using webcam option
After uploading the documents, you’ll have to click on the do verification using your mobile cam or pc webcam
- Verify your OTP by writing it on the white paper
An OTP will be displayed on the screen and you’ll have to write the OTP on white paper and show it to the cam by holding it with your face clearly showing
- Digitally Sign the KYC for further verification
After verification is done, you’ll be redirected to the application form where you’ll have to digitally sign the KYC for further verification
- Click on the “Digitally Sign the KYC PDF Form”
A pop-up will appear which you have to review and click on the “Digitally Sign the KYC PDF Form”
- Enter Aadhaar number on NSDL page for verification followed by entering OTP sent on the mobile number
Now, you’ll be redirected to the NSDL page where you have to enter your Aadhaar card number followed by validating the OTP sent on your mobile number
- eSigning is successfully done
After eSigning is successfully done, you can click on the finish button and you’ll be notified about the SBI securities account is under verification
- Your SBI 3-in-1 Account has been successfully opened
After the verification has finished your account will be created with SBI with a Savings account, Trading account, and Demat account
I’m Shiv Kumar, a graduate with a passion for finance, marketing, and technology. My journey into finance started with a desire to understand money management and investing.
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