Now open SBI instant saving account purely online using PAN, Aadhaar sans documents

To facilitate contactless interaction during the current coronavirus pandemic, the country's largest banker, State Bank of India (SBI) has relaunched it's 'Insta Saving Bank Account.' The account can be opened online instantly without submitting any actual documents i.e. facility is completely paperless.

To open the savings bank account, the customer will require to download YONO app in his/her smartphone instead of visiting a bank branch. Further, only PAN and Aadhaar number are required to open the instant digital savings bank account with SBI.

Rajnish Kumar, Chairman, SBI said, "This product would be beneficial to customers in this prevailing COVID 19 situation, who can open Savings Account at the comfort of their homes, without visiting a bank branch".


As per the bank's press release, "The SBI Insta Saving Bank Account holders can have 24x7 banking access. SBI will also issue basic personalized RuPay ATM-cum-debit card to all the new account holders of Insta Saving Bank Account."

How to open SBI instant savings bank account
To open the SBI Insta Saving Bank Account, customers just need to download YONO app, enter their PAN and Aadhaar details, submit OTP(one-time password), and fill other relevant details. Once the process is complete, the account holder will get his/her account activated instantly and can start transacting immediately.

Other facilities
The nomination facility is available for SBI Insta Saving Bank Account holders along with SMS Alerts and SBI Quick Missed call service. Customers will have the flexibility to upgrade to full KYC by visiting their nearest SBI branch within one year's time.