SBI Yono App 2022
Digital Savings Account(DSA) opened at the SBI has become quite simple these days.
Those who have internet access can open a digital account through a single visit to the nearby bank branch.
Now, SBI online is providing to the public the luxury to go for a digital savings account where they can go to the SBI digital account opening.
They can begin by logging on to the official website of onlinesbi.com.
They can also do so by logging onto the SBI YONO App.
SBI provides an automated digital banking platform YONO (You Only Need One), that allows opening digital accounts and enjoying a range of financial services.
Customers can check their transactions, make an FD, apply for loans, etc. are the basic banking operations, customers can do.
- Only Resident India Individual, over 18 years of age.
- Individual must be having a valid Aadhaar card & PAN Card number.
In case individual’s name as reflected in Aadhaar card is dissimilar from that as reflected on the PAN, the information as per Aadhaar card will be taken on record.
- Individual must be having a valid and active local mobile number and email address.
SBI YONO Digital Account Features
- Single branch visit required.
- Convert to zero balance salary account – Check for salary package tie-up with SBI.
- Paperless account opening.
- Cheque book charges will be same as are applicable to a savings account.
- Annual maintenance charges will be as per extant guidelines for savings accounts.
- Passbook will not be provided in the account.
- The Nomination Facility is available within the YONO app and is compulsory for Digital Savings Account.
- The individual will have to successfully complete the e-KYC (Know Your Customer) through biometric authentication by visiting a nearby SBI branch and have to comply with all other requirements, including KYC requirements as may be specified by the SBI for Digital savings bank account.
- An individual can have only one Digital Savings Account.
How to Open SBI YONO Digital Account?
Time needed: 3 minutes.
Procedure to Open an Account using SBI YONO App
- Download the SBI YONO App
The SBI YONO App can be downloaded from Google Play Store or Apple app store on all Android or iOS-based phones.
- Registration Process
Choose the option that say New to SBI – Open Savings Account – Select the Digital Savings Account – Apply Now.
The individual may click on ‘Next‘ to proceed.
- Open with Aadhaar using e-KYC(Biometric Authentication)
The YONO app then asks the individual to authorize SBI to proceed with Aadhaar-based verification to open an account. The individual may click on ‘Next’ to proceed.
- Mobile Number
The individual may proceed by filling in details such as email ID and mobile number and clicking the ‘Submit’ button.
#Individual shouldn’t have any pre-existing account in SBI.
In such a scenario, you won’t be able to complete the process on SBI YONO App.
After entering this OTP in the given field, click on ‘Submit’ to proceed.
- PAN Card
After this, the user is asked to confirm certain tax liability dates under FATCA or the Foreign Account Tax Compliance Act. After entering the PAN card number, the user may proceed by clicking on ‘Next’.
- Registration Process
At this stage, the user is required to enter/confirm personal details such as name, address, and date of birth. After this, additional details such as PAN and annual income are fed.
- Branch Visit
The individual is then asked to select a home branch. This branch will be the SBI branch where the account will be located.
- Reference number
When you complete your registration process you will get a reference number(RF-No) at the end which is valid for 15 days.
Take that RF number to your nearest branch and it will take you hardly 15–20 minutes to get your account opened.
How to Reset Profile Password through SBI YONO App?
Open the left side swipe menu and then click on the Service Request option.
Now, from the new screen, click on the Reset profile password option and then click on Forgot profile password option.
Now there are two methods with which you can reset your profile password.
1# Answer the questions that you set during internet banking registration.
2# Enter debit card details and ATM PIN.
Once verified, you can now enter the new profile password of your choice.