Opening a savings account with the State Bank of India (SBI), one of India’s largest banks, can be done conveniently online through their YONO SBI app or SBI online portal. This step-by-step guide will walk you through the process which help you in learning of how to open an SBI savings account online, making it easy for you to start managing your finances with SBI.
Opening an SBI Savings Account Online
Step 1: Download and Install YONO SBI App
Download and install the YONO SBI app from the Google Play Store or Apple App Store.
Step 2: Register on YONO SBI
Open the YONO SBI app and tap on “New to SBI.”
Step 3: Select “Open a Savings Account”
On the next screen, select “Open a Savings Account.”
Step 4: Choose “Without Branch Visit”
Select the “Without Branch Visit” option to proceed with the online account opening process.
Step 5: Enter PAN and Aadhaar Details
Enter your PAN and Aadhaar numbers, and tap “Next.”
Step 6: Verify Aadhaar
An OTP (One-Time Password) will be sent to your Aadhaar-registered mobile number. Enter the OTP to verify your Aadhaar details.
Step 7: Enter Personal Information
Fill in the required personal information, including your name, date of birth, gender, address, contact details, and occupation.
Step 8: Set a Password
Create a strong password for your YONO SBI account.
Step 9: Schedule a Video KYC
Schedule a video call for KYC (Know Your Customer) verification. You can choose a convenient time slot for the video call.
Step 10: Complete Video KYC
At the scheduled time, attend the video call and follow the instructions provided by the SBI representative to complete the KYC process.
Step 11: Account Activation
Once the KYC verification is successful, your SBI savings account will be activated. You will receive an SMS notification confirming account activation.
SBI Savings Account Interest Rate 2023
SBI Savings Account Balance | Interest Rate per annum |
Balance less than Rs. 10 crores | 2.70% |
Balance Rs. 10 crores and above | 3.00% |
Types of SBI Saving Account
Insta Plus Savings Bank Account
- You can open your SBI Insta Plus Saving Bank Account through Video KYC.
- Only Aadhaar details & PAN(Physical) are required.
- Customers can transfer funds using NEFT, IMPS, UPI, etc. through the YONO app or Online SBI i.e. Internet Banking.
- If a customer requests the Passbook that is also issued.
- Rupay classic card will be issued.
Basic Savings Bank Deposit Account
- A basic Rupay ATM-cum-debit card will be issued.
- Maximum balance /amount No upper limit.
- Withdrawals only using withdrawal forms at Branches or through ATMs.
- No checkbook facility is available.
Basic Savings Bank Deposit Small Account
- The minimum balance amount- NIL
- Maximum balance of Rs. 50,000/-
- A basic RuPay ATM-cum-debit card will be issued.
Saving Bank Account
- Monthly Average Balance: NIL
- There is no limit on the Maximum balance.
- A Pass Book is issued to record the transactions. A duplicate passbook can be issued if the original is lost, on payment of charges. Statement of accounts can also be sent through e-mail.
Saving Account For Minor
- Maximum Balance Rs. 10 lakh
- Debit Card- Provided
- Credit Card- Not Provided.
- Cheque Book Facility is also available.
Savings Plus Account
- Maximum Balance- No Limit.
- ATM Card provided.
- Transaction Limit- Min. transfer of Rs. 10,000.
- Cheque Book Facility- Provided with 25 free leaves per annum.
Eligibility Criteria for Opening Savings Account Online with SBI
Before you begin the online account opening process, ensure you meet the eligibility criteria:
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Indian Citizen: You must be a citizen of India to open an SBI savings account.
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Age Requirement: You must be 18 to open an individual savings account. For minor accounts, a guardian is required.
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Valid Documents: A valid PAN card, Aadhaar card, and proof of address are readily available.
Additional tips for opening an SBI saving account online
- Make sure you have a stable internet connection.
- Keep your documents handy for easy upload.
- Choose a strong password for your account.
- Read the terms and conditions carefully before submitting your application.
For more information visit the official site of SBI Click Here.