State Bank of India (SBI) is India’s largest public-sector multinational bank and has more than 24000 branches across India. This bank provides various online banking and mobile banking services to its customers. So, people don’t want to visit the branch for account opening; The Yono SBI App is the best option and more accessible than the traditional methods.
The Yono SBI is a versatile mobile app that allows customers to open an SBI digital savings account and Insta savings account in just a few steps. So, if you are looking and want to know how to open a Yono SBI account online, this article will help you do so.
Before proceeding, ensure your mobile number is registered with your Aadhar card. Also, you will need some essential documents to open an account through the YONO SBi application.
You don’t need to visit the SBI branch; you can do it with your smartphone through the YONO app. There two types of accounts are allowed- Digital Savings Accounts and the other is Insta Savings Accounts.
How to Open SBI Digital Savings Account?
You need to visit the SBI branch once for Digital Savings Account, But there is no need to go for Insta Saving Account. You can open SBI paperless zero-balance savings account online in a few steps through the Yono SBI app.
Both savings accounts are almost identical, i.e. paperless digital savings account with SBI. But for a digital savings account, you need to visit the branch once for a KYC update. But for Insta Savings Account, you must visit once at any time in the year to convert it into a regular SBI savings account.
Eligibility
The terms for opening an account through YONO SBI are as follows:
- Indian Citizen
- New Customer in SBI
- Age, 18+
- Install YONO SBI App
- Do not open multiple devices
How to Open SBI Insta Savings Account?
SBI Insta Savings account is an instant paperless savings account; you don’t need to visit the SBI branch. Here, only Aadhaar details and PAN are required to open an account online. Moreover, you can transfer funds using NEFT, IMPS and UPI through the YONO app and online SBI.
You can avail yourself of the option to convert an Insta Savings Account to a Full-Service KYC Account. You must visit the nearest branch within one year of opening the Insta Savings Account.
The temporary user ID will be received on the mobile during account opening. Then create internet banking through that temporary user ID on the official site of SBI by selecting the New user registration option.
On opening the savings account, you will receive the account number, CIF code, branch code and debit card delivery details. You will get the RuPay debit card at your address within 15 days.
How to Open Digital Savings Account Online?
To open a digital savings account in SBI, you need the Yono SBI app. So, before opening a Yono SBI digital savings account, you must install the Yono SBI app and keep your PAN, Aadhar, and registered Mobile number ready. The step-by-step guide is given below:
Step 1: Open the Yono app; tap on ‘New in SBI‘. On the next screen, two options are available: ‘ Digital Savings Account‘ and ‘Insta Savings Account‘.
Step 2: Go with Insta Savings Account; you do not need to visit the branch. Tap on ‘Apply now.
Step 3: On the next screen, two options will appear, APPLY NEW AND RESUME. Select ‘Apply New‘. Next, tick the checkbox.
Step 4: Enter your registered mobile number and Submit. You will get an OTP to your mobile; enter OTP and Submit.
Step 5: Create the application password and re-enter the same. Choose the answer to a security question. Tick the FATCA / CRS declaration box, and select the checkbox for Terms and Conditions.
Step 6: Enter your Aadhaar number and tap Submit. Enter the OTP, which you will get on your mobile and tap Next.
Step 7: You must enter your details and tap on Next. Select your state or sub-district and tap on Next. Enter the PAN number and click on Next. The Aadhaar photo will appear here, and tap on Next.
Step 8: Select qualification details and, next, marital status. Enter the full name of the father and mother and tap Next. Here select your father’s annual income and occupation details—select religious details, like Hindu, Christian, Muslim, Sikh, etc.
Step 9: Enter the Nominee details. If the nominee is minor, enter the nominee’s guardian’s name. Next, enter the address of the nominee, and tap on Next.
Step 10: Select your home branch and tap on Next. Accept the terms & conditions, and tap on Next. Enter the OTP, which you will receive on your registered mobile, and tap on Next.
Step 11: Enter your name, which will be displayed on the Debit Card, and tap on Next.
Finally, the YONO SBI Insta Savings Account will be opened successfully.
You will find your SBI Account Number, IFSC Code, CIF Number, and Branch Code here. You will also get the ATM card at your address in a few days.
Required Documents
These are the main documents for opening an account in SBI through the Yono app. Therefore, please keep it on hand while opening the account.
- Aadhar Number
- PAN Number
- Mobile Number (must be verified with Aadhaar).
FAQs
A: SBI Insta Saving Account is a paperless savings account and can open through the YONO SBI application. You don’t need to fill up the traditional form.
A: No, it is a basic savings account, and you need to submit a full KYC within one year to convert it to a regular savings account.
A: You can open an account in SBI online through the YONO app. You don’t need to visit the State Bank branch.
Conclusion
The YONO SBI app allows customers to open a paperless account in a few steps. You don’t need to go to the State bank branch. Only new customers above 18 years of age, with their Aadhaar and PAN details, can open an account through the YONO app.
