The State Bank Group’s stock brokerage, SBICAP Securities Ltd (SSL), is a fully owned subsidiary of SBI Capital Markets Ltd. A full-service stock broker is SSL. The company, which was founded in 2006, provides services such as Institutional Equity, Retail Equity, Derivatives, Broking, Depository services, and Third Party Distribution goods. Additionally, they provide traders and investors online trading capabilities.
The company’s primary trading platform is SBI Smart. The site enables both resident Indians and non-resident Indians (NRIs) to participate in equity, derivatives, mutual funds, ETFs, initial public offerings (IPOs), and NCDs. Additionally, it provides products including Loan Against Securities (LAS), Home Loans, and Car Loans. SSL is a Depository Participant with NSDL & CDSL and registered with the Securities Exchange Board of India (SEBI).
NRIs living all over the world can access a comprehensive range of services from SBICAP Securities Limited. Due to regulatory limitations, SSL does offer a 3-in-1 account to NRIs who live in the US, UK, Canada, and Japan but does not actively seek out investments from them. NRIs, however, are free to use any of the company’s services as they see fit. Online trading solutions are offered to NRIs by SSL in collaboration with State Bank of India.
Customers of SBICAP have a access to 3-in-1 account that links their bank account, demat account, and trading account. In the 3-in-1 account option, SBI holds the Savings/Current account while SBI Cap Securities Ltd. opens the Demat and Online Trading accounts. Additionally, it provides customers with access to various types of research reports, analysis tools, and calculators through its research services. Customers of SBICAP can choose from a variety of online trading platforms, including:
- SBISmart Portal (a trading platform available online).
- Desktop trading software SBISmart Xpress
- SBISmart Light (Online Trading)
- SBISmart for mobile
SBI Securities Charges 2023
- 3-in-1 Account Opening Charges: Rs 850
- Annual Maintenance Charges (AMC): Rs 500
Trading Brokerages
Intra-day Trades: Minimum 5 paise per share or 0.15% (both sides) for intraday trades, whichever is higher.
Delivery Based Trades: For delivery-based trades, the higher of 0.50% or a minimum of 5 pence per share is required.
Futures: Minimum 5 paise per share or 0.05% for intraday and 0.09% for carry forward, whichever is higher.
- Options Trades: One side intraday trades cost Rs. 50 per contract, and carryover trades cost Rs. 100 per contract.
SBICAP Securities Brokerage / Charges
Segment | Delivery | Intraday | Minimum | ||
First leg | Second leg | ||||
Cash Market | 0.50% | 0.075% | 0.075% | Rs 0.05 | |
Derivatives | Future | 0.05% | 0.03% | 0.03% | Rs 0.01 |
Option (per lot) | Rs 100 | Rs 50 | Rs 50 | ||
Currency Derivatives | Future | 0.03% | 0.015% | 0.015% | |
Option (per lot) | Rs 30 | Rs 20 | Rs 20 |
Additional Information
Offline no. brokerage / registered AP. | 24 |
Research & advisory services | Yes |
Referral amount | Rs. 300 (Cash/Voucher) |
API charges | NA |
Call & Trade charges | First 30 call is free,After that rs. 10 per call |
Advantages and Disadvantages of SBI Securities
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Benefits of SBI Securities
The benefits of SBI Securities are as follows. Before opening an account with SBI Securities, you must know the benefits and drawbacks of SBI Securities. Find out if SBI Securities meets your investing needs by weighing its advantages and disadvantages.
- The largest bank in the nation and a well-known name is State Bank of India.
- A full-service broker offering many different financial services under one roof.
- SBI Securities offers the 3-in-1 account, which allows transactions between the Demat, Trading, and Bank Accounts to be completed without interruption.
- Provide online IPO, Mutual Fund, and Bond investing.
- The SBISMART Xpress Trading Terminal and SBISMART Mobile Trading App are free for all users.
- More than 115 SBICAP Securities branches in significant cities offer trading.
- All customers have access to research papers and analysis tools.
The Drawbacks of SBI Securities
The drawbacks of SBI Securities are as follows. Check out the list of issues with SBI Securities.
- Extremely expensive brokerage fees when compared to an online discount stock broker.
- The first 30 calls in a month with Call & Trade are free. After that, each call costs Rs. 10 to make. Only three scripts can be requested in a single call.
SBI Securities Complaint
The quantity of SBI Securities consumer complaints that exchanges have received. The SBI Securities customer complaint report aids in understanding the reliability and quality of service provided by SBICAP Securities Ltd.
Exchange | Financial Year | Number of Clients* | Complaints** | % |
NSE | 2022-23 | 516,083 | 234 | 0.05% |
BSE | 2022-23 | 198,031 | 47 | 0.02% |
NSE | 2021-22 | 635,384 | 250 | 0.04% |
BSE | 2021-22 | 140,251 | 22 | 0.02% |