There will be no hassle of going to the bank to open a savings account in the country’s largest bank State Bank of India (SBI). The bank has provided the facility of opening a savings account right from home. Under this, people only have to install the YONO App on their smartphone. SBI has provided video KYC based account opening feature through its mobile banking app YONO i.e. to open a savings account in SBI, video KYC will have to be done through the YONO app and the account will be opened while sitting at home. This feature is based on Artificial Intelligence and face recognition technology. However, only a savings account can be opened through this. It is a paperless and contactless online account opening feature. SBI Chairman Dinesh Khara said at the launch of this feature that it has become a great need in the time of the current Corona epidemic. Through this feature, customers will be helped to be digital for their banking needs. Khara termed it as the bank’s commitment to Digital India.
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In this way open online savings account
- Download and install the YONO App on your smartphone.
- Click New To SBI.
- Select ‘Insta Plus Savings Account’.
- Provide your Aadhaar details
- Personal information will have to be given after the Aadhaar verification is completed.
- Schedule video call for KYC process.
- The account will be opened after the completion of Video KYC.
YONO was launched in November 2017
SBI launched YONO in November 2017. Since then, people have liked it a lot and till now it has got more than 8 crore downloads. It has 37 million registered users. SBI has partnered with more than 100 e-commerce players in more than 20 categories on the YONO platform. There are initiatives like Yono Krishi, Yono Cash on this platform.