State Bank of India (SBI), India’s largest bank, has made the process of opening a savings bank account easier and touchless, announcing that customers can now open an SBI digital savings account from anywhere, without having to visit a branch in person. The new feature, called the KYC video feature, allows for the opening of savings accounts through a contactless method. This new feature is based on safe and reliable artificial intelligence.
Not only can customers open an account from home, but the facility is available 24/7, meaning they can use it anytime. Customers need to apply in the YONO app to start the process.
Announcing the new facility, SBI tweeted a video on September 3rd and wrote: “You don’t need to go to the bank to open a #SavingsAccount with us. With a new KYC video feature that simplifies the process, you can go anywhere, anytime Create a savings account. Apply for YONO now!”
Customers do not have to go to a physical branch of the bank to open a savings account. The new SBI feature called KYC video allows banks to open digital savings accounts for customers without a physical presence.
The entire process is completely digital, so a store visit is not required. Also, Know Your Customer (KYC) is done through Aadhaar authentication and video calls.
Since customer satisfaction is paramount, the process is quick and painless. You can schedule calls as needed. In addition, the registration process of YONO (SBI official app) after opening an account has also become easy.
According to the SBI website, only one SBI digital savings account can be opened per person. Digital savings accounts can only be closed upon written application to the family branch. In addition, the branch chosen by the applicant will be considered as the main branch for opening the digital savings account.