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YONO SBI details and review
A digital banking platform that serves as a one-stop app for all your financial and lifestyle needs.
Leaving your home with a bunch of documents and waiting for hours at a bank to open a savings account is a thing of the past with YONO SBI. Now, all you need is five minutes on your phone and you have all the banking services at your fingertips. The process of opening a digital savings account with YONO SBI is paperless and absolutely seamless.
We will go through all the details of YONO SBI and review the account so you can decide if it’s right for you.
How does YONO SBI work?
YONO, short for ‘You Only Need One’, is an integrated digital banking platform offered by the State Bank of India (SBI) that enables customers to access a wide array of financial and lifestyle services on one connected hub.
This includes a wide range of SBI’s products and services, including bank accounts, cards, mutual fund, insurance and securities. On top of all the standard banking services (e.g. money transfer, bill payments and loans), YONO SBI also offer other popular features such as online travel booking for trains, flights, and buses.
YONO SBI is available as a smartphone app for both Android and iOS, as well as a web portal. To get started, you’d first need to have an SBI bank account.
How to log into YONO SBI
If you’re a new SBI customer, make sure to compare all the available bank account options before applying online. Once your account is set up, you’d be able to log into YONO SBI and start exploring the various services. The account-linked platinum debit card will also be delivered to your registered address within a few business days.
For existing SBI account holders, simply sign in to YONO SBI with your current SBI internet banking credentials. Alternatively, you can also login using your using ATM card details.
- Simplified banking. Sail through the intuitive and simple navigation and interface for` a delightful digital banking experience.
- Quick pay. Transfer funds in just four clicks and also make UPI-enabled payments.
- Online shopping. YONO SBI doubles up as an online marketplace. Shop for products, buy movie and travel tickets, subscribe for services and more.
- Exclusive discounts. Enjoy a range of discounts and offers across a host of e-commerce merchants and get the best shopping deals.
- YONO Cash. Withdraw money from any SBI ATM without using your card or generating a withdrawal slip using the YONO SBI platform.
- Grow your wealth. Invest in mutual funds and securities through YONO SBI and start building and managing your portfolio.
- Spending analysis. Receive an intelligent spending analysis to know how and where you utilise your funds and better manage your finances.
- Organise and track spending. Use smart auto-tagging and transaction categorisations to track the flow of your finances.
- Pre-approved loans. Avail pre-approved personal loans up to ₹1 lakh within two minutes without any documentation.
What account options are there?
YONO SBI is available to all SBI customers, regardless of which SBI bank account you hold. Here are some of the most popular accounts variants offered by SBI:
SBI offers most of its banking services for free, including a platinum/Rupay debit card when you create your bank account. There are some limits, however, to take note of.
- The maximum limit per cash withdrawal transaction is ₹10,000.
- The maximum cash withdrawal limit is ₹20,000 per day.
- The minimum amount for cardless transactions is ₹500.
- A 10-leaf cheque book is available on request at ₹40 + GST.
- A 25-leaf cheque book is available on request at ₹75 + GST.
How to sign up
You can sign up for an SBI account digitally, either through the mobile app or the bank’s website. Either way, it only takes five minutes and the process is just as seamless. Before you do, make sure to compare your options and select the one that best suits your needs and preferences.
The eligibility criteria and required documentation may vary based on your account choice, these are typically required:
- At least 18 years old
- A resident of India with an Indian residential address
Make sure you have the following details with you when applying:
- PAN number
- Aadhaar number
- Aadhaar-linked mobile number
Compare a range of digital bank accounts in India
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