The State Bank of India (SBI) has launched a video-based account opening function that will let customers register SBI accounts online without visiting a bank branch.
As stated in the SBI tweet, "You don't need to visit a bank to open a savings account with us. Thanks to the new KYC video feature, which simplifies the process, you can open a savings account ANYTIME, ANYWHERE. Apply right now on YONO!"
By using a video KYC through a contactless process, interested individuals can open an SBI digital savings account online without having to visit a bank.
There will be no need to visit the branch and paperless account opening. Only physical PAN cards and Aadhaar details are needed. Customers can use the YONO app or Online SBI, or Internet Banking, to transfer money using NEFT, IMPS, UPI, and other services.
There will be a Rupay Classic Card issued and customers can experience the Yono app online SBI, or Internet Banking, 24 hours a day. Available SBI Quick Missed call service and SMS alerts for customers. Account transfers are possible with Internet banking and the nomination facility is required as well.
Please be aware that no cheque book or other signature-based services will be issued for this account, and the branch will not be able to process any debit or voucher transactions. Once the consumer updates their signature at the home branch, a cheque book can be issued.
In response to a client request, a passbook will be provided. All other service fees will be assessed in accordance with the current service fees that apply to Regular Savings Bank Accounts.
How can I create a video KYC to open an SBI Insta Savings Account?
To open an SBI digital savings account, one can complete the steps listed below, according to the SBI website.
Step 1: Download the YONO app.
Step 2: Click New to SBI-Open Savings Account.
Step 3: Add your PAN and Aadhaar information.
Step 4: Enter the OTP that was issued to your Aadhaar-registered cell phone.
Step 5: Add more relevant data.
Step 6: Set up a video call.
Step 7: Use Resume to log in to the YONO App at the appointed time and finish the Video KYC procedure.
After being verified by bank officials, your account will be opened and activated for debit transactions.
