How to open demat account to invest in LIC IPO; here is how to do it online on SBI YONO App

You can open a demat account online on SBI YONO App to invest in upcoming LIC IPO. Here is a step-by-step guide for the same.

| Updated on: Aug 22 2022, 10:26 IST
Know how to open a demat account on SBI YONO App.
Know how to open a demat account on SBI YONO App. (Representative Image) (Pixabay)
Know how to open a demat account on SBI YONO App.
Know how to open a demat account on SBI YONO App. (Representative Image) (Pixabay)

Are you planning to invest in any of the upcoming initial public offerings (IPO) including that of LIC? Have you opened a demat account for the LIC IPO? If you have not yet opened any demat account you can do it online on SBI YONO app now. The State Bank of India (SBI) has informed that you can open your demat and trading account on YONO with no account opening charges. In order to apply for the same you will have to login to YONO and go to the Investments section. "Open your demat and trading account on YONO now with no account opening charges & DP AMC completely waived off for the first year. To apply, please login and go to the investments section," SBI tweeted.

What is a demat account? For the uninitiated, demat account is an account which is required by you if you want to trade in shares. The shares in which you invest will be saved in an electronic form in your demat account. If you want to open a demat account, you will require the following documents:

1. Identity proof

2. Address proof

3. PAN Card

4. Proof of Income

5. Proof of bank account

6. Photograph

How to open demat account on YONO App?

1. Download the YONO App on your smartphone.

2. Login into the YONO SBI App using your credentials.

3. Go to the Investment section.

4. Click on Open Demat and Trading Account.

5. Now you will have to provide all the required details.

6. After following all the steps mentioned about confirm.

Meanwhile if you do not know how to download and register for SBI YONO App, here is all you need to know.

SBI YONO App: How to download on Android, iPhone

The app can be downloaded from Google Play Store on Android devices. iPhone users can download the app from the App Store. The only thing they need to do is visit the store, search for SBI YONO App and click on download. The app will get downloaded and installed on your device.

SBI YONO App: How to register

10 Minutes
Step 1:

Open the SBI YONO app on your smartphone.

Step 2:

Use the internet banking option by entering account details to begin the registration processor.

Step 3:

You will then have to provide account details such as ATM card number, ATM pin and then tap on ‘Submit’. If you opt for internet banking then you will have to enter your internet banking username and password.

Step 4:

You will then have to give consent to use MPIN by accepting the terms and conditions given. Click ‘Next’.

Step 5:

You will have to choose an MPIN and enter it. After this an OTP will be sent on your mobile number. You will have to enter the OTP and click ‘Next’.

Step 6:

After following all the above mentioned steps you will successfully register on the SBI YONO App.

Step 7:

It can be noted that while completing the registration process, all existing SBI customers can use their SBI online login credentials. And for further logins you can use an MPIN or a login user Id.

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First Published Date: 24 Feb, 13:04 IST