State Bank of India, SBI offers Indians to open an account in SBI online that helps them to secure their hard-earned money. In this article, we will help you to know how to open an account in SBI online. SBI allows you to open different kinds of accounts such as savings accounts, current accounts, and zero balance accounts. If you are opening your account using an online method, you will be offered two kinds of bank accounts that include an Insta savings account and a Digital savings account.
Table of Contents
What is a Savings Account?
A savings account is a kind of account in which an individual save as well as earns some profit in the form of interest rate. State Bank of India has more than 9,000 branches in the country. In this article, we will be talking about “How to open Insta savings account” and “can I open SBI account online”.
Benefits of SBI Online Account Opening New
By opening an SBI account online, you open yourself to a number of benefits. SBI provides its customers with amazing features and benefits that keep them on the list of one of the best banking companies in the country. Below, we have mentioned some of the major benefits provided by the bank.
1. SBI allows its users to enjoy online banking, mobile banking, and Kiosk banking.
2. On your successful account opening in the bank, you will be issued a bank passbook free of cost.
3. SBI also allows its customers to change their account to any branch of the bank, that too without changing their account numbers.
4. You will get multicity cheques that are accepted all over the country.
5. SBI provides you with high-quality services such as nomination facilities, safe deposit lockers, allowance of linking to MOD accounts, etc.
6. You can also opt for personal insurance from the bank at the lowest premium.
Eligibility Criteria
For opening an account in SBI online, you need to pass a few eligibility criteria policies. Below, we have mentioned the eligibility criteria set by SBI.
1. The individual must be a legal citizen of India.
2. S/he must be over the age of 18 years to be eligible for SBI online account creation.
3. If you are below the age of 18, your parents can request for SBI online account opening zero balance.
4. The individual must provide the bank with government verified identities.
5. After the approval of your account, you need to deposit a certain amount of money in the bank. The money amount can vary depending on the minimum deposit requirements of your savings account.
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Documents Required
You need to provide the bank with certain documentation for State Bank of India for opening an account online. Below, we have listed the required documents for your online account creation in SBI.
1. You will have to submit your proof of identity to the SBI team. The identity proof includes your PAN Card, Aadhaar Card, Passport, Driving License, etc.
2. SBI will also request for your address proof that includes your Passport, Driving License, Voter ID Card, etc.
3. In case a PAN card is not available, you can submit Form 16 to the bank.
4. Also, you must provide the bank with your passport-sized photographs.
How to open an account in SBI online?
SBI online account opening apply process required some simple steps to be followed. We have mentioned the important steps below about how to open an SBI new account online.
1. Your device need to have an active internet connection.
2. Open the web browser of your device and visit the URL https://www.onlinesbi.com/
3. It is the homepage of the state bank of India.
4. Click on the “Apply for SB/Current Account > Savings Bank Account” option and you will be redirected to a new tab.
5. Fill in all the required fields with correct information that include your name, address, phone number, etc. in the SBI online account opening form.
6. You will receive a TCRN number on your registered mobile number; you need to keep that secure.
7. Once all the required details entered, click on submit.
8. After providing all the required details in the section, you required to submit a few important documents that will verify you as a legal citizen of the country.
9. Once you submit all the documents, your application sent for review.
10. If your application approved and your profile verified, the account opened within 3-5 days.
11. This is “how to open SBI new account online”.
SBI Online Account Opening YONO App
YONO is the SBI online account opening app. Below is the step by step process to open SBI Insta savings account using YONO app.
1. Download and install the YONO app.
2. An OTP will be sent on your mobile number.
3. Enter the OTP, and fill the required details in SBI online account opening zero balance form.
4. Now, enter your PAN number and Aadhaar number.
5. Next, click on the “Submit” tab.
6. Your SBI Insta savings account get activated instantly.
SBI online account opening for student
SBI also provides online savings account opening for students who want to manage their study expenses on their own. The SBI students’ savings account provides students with high quality features that include.
1. Online banking, internet banking, mobile banking.
2. Permit of keeping amount up to 10 lakh in the account.
3. Multiple operating choices (single or joint i.e. with parents).
4. A Chequebook.
5. A debit card (photo).
SBI Online Account Opening NRI
NRE savings account and NRO savings account can be opened through online mode. Just click here to fill an online application and send it to Global NRI Centre in India as per the process mentioned therein.
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Frequently asked questions
1. Can I open SBI bank account online?
Yes, you can open a bank account in State Bank of India online quite easily. In this article, we have provided you with clear instructions about how you can open an SBI account online. You can also create an online account in the SBI bank using the SBI online account opening app, YONO.
2. What is the minimum balance required in the SBI account?
The State Bank of India offers different types of savings accounts. The minimum balance requirement is also different for these savings accounts. Even, you can also opt for SBI online account opening zero balance.
3. Are minors allowed to operate their account singly?
Yes, SBI has introduced a special student saving account that can be operated by minors (students) singly. However, if you want to operate your bank account with your parents, you can do it as well.
4. What is the interest rate of SBI on savings accounts?
SBI offers a genuine interest rate of 2.75% per annum on savings accounts. For example, if you keep 1000 INR in your SBI savings account, you will get 1027.5 INR after a year.
5. Can I open SBI zero balance account online?
Yes, you can open SBI zero balance account online.
Final Thoughts
SBI offers the legal residents of India online savings account opening services that can be availed free of cost. To create a bank account in SBI online, you need to fulfill some eligibility criteria and must provide the bank with certain documents. SBI banks are one of the most trusted banks in India and are government-issued banks.
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