Online SBI: Now, you can open State Bank of India account instantly; here is how

ZeeBiz WebTeam | Jun 12, 2020, 06:11 PM IST

Online SBI: Want to open a bank account but can’t visit the bank branch? Well, there is no need to worry as you can now open a State Bank of India account instantly from home. 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.

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New SBI account features

New SBI account features

This new account allows people to open a State Bank of India account with the help of their PAN and Aadhaar number. The entire process can be complete online. The SBI Insta Saving Bank Account holders can have 24×7 banking access. The customers will also be issued the basic personalized RuPay ATM-cum-debit card.

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How to open State Bank of India’s Insta Saving Bank Account?

How to open State Bank of India’s Insta Saving Bank Account?

The customers simply need to download YONO app from Google Play Store, enter their PAN and Aadhaar details, submit OTP, and fill other relevant details. The customers wil also be provided SMS Alerts and SBI Quick Missed call service.

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SBI account opening process

SBI account opening process

The account will be activated as soon as the entire process is completed. The bank customers can start to use the services immediately after that. They will have the flexibility to upgrade to full KYC by visiting their nearest SBI branch within one year’s time.

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More from SBI

More from SBI

Meanwhile, in a separate development, the State Bank of India has decided to divest 2.1 per cent stake in SBI Life to achieve the minimum public shareholding of 25 per cent.In a regulatory filing, SBI said that it proposes to sell up to 2.10 crore shares of SBI Life. The floor price for the sale shall be Rs 725 per equity share.

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More from SBI

More from SBI

The transaction will take place on Friday for the non-retail investors only, and on June 15 for retail investors and non-retail investors who choose to carry forward their un-allotted bids, through the separate designated window of BSE Limited and National Stock Exchange of India Limited.