State Bank of India (SBI) currently has one of the largest networks of branches at 22,000 with more than 45 crore customers and these numbers are sure to leave you baffled. The banking giant offers way too many services be its varied bank accounts including NRO, NRE, and NRI as well as debit cards, credit cards, online banking, mobile banking and you name it. SBI is technically a one-stop shop in terms of banking although you need a Savings account to avail these services.
Opening a savings bank account (also called a checking account) with SBI is technically a piece of cake. Although you would still have to walk into an SBI branch to physically submit forms once, that’s all you need to do while the entire account can be created online in the comfort of your home.
There are two available methods to open a bank account. You can use SBI Online Portal or the YONO app to create a preferred savings bank account with relative ease. Let’s dive into these methods individually which should give you clear instructions on how to do it.
How To Create an SBI Bank Account via SBI Online Portal?
Let’s check out how you can create a savings account in SBI via its website aka online portal.
Step 1: First up, go to the website www.onlinesbi.com.
Step 2: Next, tap on “Apply for SB/ Current Account” and then, select “Saving Bank Account >> for Residents Individuals >> Small SB Account.
Step 3: Next up, you need to go through the short except and tap on “Start Now >> Fill Customer Information System”.
Step 4: You will be prompted to feed in all your information regarding the account holder, address, Aadhaar number, and other details especially marked as mandatory by SBI. Hit the “Proceed” button.
Step 5: You will get a Small Customer Reference Number (SCRN) on the next page that you need to record for later use on the Account Opening Form.
Step 6: Proceed and you will be led to the “Account Information” section.
Step 7: It is here where you need to enter the SCRN number along with your mobile number and branch code among others. You can easily find the branch code for the branch you want to open your account with online.
Step 8: Next, fill in the request for the add-on if you want to add such as a debit card, mobile banking, e-statement, etc. There will be additional options available for the account holder.
Step 9: Next up, fill in Form DA-1 that should appear right after you tick the mark on “I/We want to nominate the person as per details given below, in this account in form DA-1”, hit “Proceed”.
Step 10: Once all the details are provided, do verify them and you should be able to select “Print Account Opening Form” available on the third step.
Step 11: You’ll need to enter the SCRN, and date of birth, and hit the proceed button to download the account opening form. Make sure it is on A4 paper.
Step 12: You’ll need to carry two recent photographs (we recommend carrying more just in case) and all the documents such as identity, residential, and utility bills, among others to a nearby branch (yes, that’s why we said you will have to visit the branch at least once for account opening).
Step 13: Once the applications and documents are processed, your SBI bank account should be activated within 3 to 5 days subjected that every prerequisite is met.
Step 14: You will have to maintain a minimum balance in your account as per SBI guidelines.
- Rural Accounts – INR 1,000/-
- Semi-Urban Accounts – INR 2,000/-
- Metro and Urban Accounts – INR 3,000/-
How To Create an SBI Bank Account via YONO App?
Another option that you have to create an SBI Bank Account is via the YONO app which is a completely paperless process. You can follow the steps mentioned below to get it done.
Step 1: Firstly, you need to download the SBI YONO app from the Google Play Store or Apple App Store and install it.
Step 2: Next up, click on “New to SBI >> Open Savings Account” on the app.
Step 3: Next, select the option that says “Without branch visit >> Insta Plus Saving Account >> Apply Now”.
Step 4: You need to click on “Open with Aadhaar using e-KYC”. Note that a branch visit becomes mandatory for biometric authentication after this.
Step 5: You need to feed in the mobile number and email address when prompted followed by an OTP that you should receive on your phone.
Step 6: The next part is to go through the FATCA / CRS declaration, PAN number, and tick mark on the disclaimer below. Keep on pressing the “Next” button to proceed.
Step 7: You will get 6 pages to fill up towards your “Personal Details” so add all the information as asked.
Step 8: When it asks you about the Aadhaar card, you have multiple options to choose from such as Virtual ID, manually entering the number, or scanning the QR code among others. Ensure that you have your phone number linked to the Aadhaar card to receive the OTP and hit the “Submit” button so that all the information is pulled up directly from UIDAI.
Step 9: The next step is to enter the state, district, village, town, etc., and hit “Next”.
Step 10: You will be asked to enter your PAN card number followed by a photo of your Aadhaar card.
Step 11: Fill in your educational qualifications, parent’s details, and nominee details among others, and continue by hitting the “Next” after completing each page.
Step 12: You will need to select the branch of interest and press “Next”.
Step 13: Accept the terms and conditions and hit “Next” again to get an OTP which is required to confirm.
Step 14: On the next screen, you should get a debit card to print and a unique token number that you should keep handy at all times.
Step 15: You will be led to a Video KYC process that shouldn’t more than a couple of minutes after scheduling.
Step 16: Next up, go through the SBI YONO app >> New to SBI >> Open Savings Account >> Without branch visit > Insta Plus Saving Account and hit the “Resume Application” option.
Step 17: Enter the phone number and password.
Step 18: The next page shows you a token number screen where you need to tap on “Next” and “Start/Scheduled a video call”.
Step 19: Follow the on-screen instructions, give permissions when prompted, and keep everything from PAN to Aadhaar ready for the video KYC and that’s all. After the call ends, you should be verified and your account should be enabled in a few days’ time.
Eligibility To Open SBI Account Online
- You need to be an Indian citizen
- If you are a minor with an age of more than 10 years, you can submit the required information and open an account with SBI without any hassle.
- You should have required Government-approved identity and residential proof as they are a priority when opening an account.
Documents Required To Open SBI Account Online
Let’s dive into all the documents that you need to open a bank account with SBI online. Note that the more documents you have, the better it is for any bank to open an account.
Documents as Identity Proof
- PAN Card
- Passport
- Voter ID card
Driving License - Government or Defense ID Card
- ID cards from employers
Documents as Residential Proof
- Ration Card
- Credit Card Statement
- Salary Slip
- Bank Account Statement
- Electricity Bill
- Telephone Bill
- Income or Wealth Tax Assessment Order
- Letter from a reputable employer
- Letter from a recognized public authority
Additional Precautions
The Aadhaar card should be linked with the phone number that you currently have as OTPs are required for authentication. It is better to have more documents than the minimum required as you always have options to produce when required. Do verify all the information you fill in, documents submitted and signature provided to ensure they are correct. This works in many ways such as preventing the chances of rejection of account opening as well as preventing any discrepancies in the data provided that could be highlighted or flagged later.
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