Now you can open SBI savings account without visiting branch; Check online process


SBI Online Account Open: With an aim to provide convenient digital banking services to the citizens of India, the country’s largest lender State Bank of India has re-launched ‘SBI Insta Saving Bank Account’, an Aadhaar-based instant digital savings account, for customers who would like to open an account online through the bank’s integrated banking and lifestyle platform – YONO. This new service will offer complete paperless and instant digital savings account opening experience with just PAN and Aadhaar number. The SBI Insta Saving Bank Account holders can have 24×7 banking access. SBI will also issue the basic personalized RuPay ATM-cum-debit card to all the new account holders of the Insta Saving Bank Account.

To open the SBI Insta Saving Bank Account, customers just need to download YONO app, enter their PAN and Aadhaar details, submit OTP, and fill other relevant details.

The nomination facility is available for SBI Insta Saving Bank Account holders along with SMS Alerts and SBI Quick Missed call service.

Once the process is complete, the account holder will get his/her account activated instantly and can start transacting immediately. SBI Customers will have the flexibility to upgrade to full KYC by visiting their nearest SBI branch within one year’s time.

Latest SBI savings account interest rate

Effective May 31, 2020, the interest rate on Savings Bank Deposits with a balance up to Rs. 1 lakh is 2.70 per cent. And, for deposit accounts with balances above Rs. 1 lakh is also currently at 2.70 per cent.

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