The State Bank of India (SBI) on Friday relaunched its Aadhaar-based instant digital savings account facility for customers who want to open an online account using the Yono platform.
Yono is the lender’s integrated banking and lifestyle platform.
The ‘insta savings bank account” will offer completely paperless and instant digital savings account opening with just PAN and Aadhaar number, the bank said in a release.
SBI chairman Rajnish Kumar in its statement said- “This account has all the features that would provide our potential customers a convenient, hassle-free, and paperless banking experience without visiting the bank branch.
customers are required to download the Yono app, enter their PAN and Aadhaar details, submit a one-time password, and fill other relevant details, in order to open an account, the release said.
The bank will issue a basic personalized RuPay ATM-cum-debit card to all the new account holders of insta saving bank accounts.
However, the nomination facility is also available for account holders along with SMS alerts and SBI’s missed call service.
Once the process is completed, the account holder will get his/her account activated instantly and can start transacting immediately.
Customers will have the flexibility to upgrade to full KYC (Know Your Customer) account by visiting their nearest SBI branch within one year’s time.
YONO SBI is to offer its customers a gamut of banking and lifestyle services at their doorsteps with just the click of a button. YONO SBI for the past two years is accepted greatly by the customers. The Platform has now reached global markets with YONO Global in UK & Mauritius. YONO has also crossed the landmark of 51 million downloads and 23 million registered users in a little over two years.
It has partnered with more than 100 e-Commerce players across 20 plus categories. SBI through YONO has also come up with various initiatives which include YONO Cash, PAPL, YONO Krishi and the likes, catering to all categories of customers.