SBI YONO Mobile App Lets You Open Savings Bank Account With Zero Balance: 5 Things To Know

Mobile app YONO enables users to open a zero balance savings account with State Bank of India (SBI). This was said by the country's largest public sector bank on microblogging site Twitter. According to SBI, users can open a new savings bank account with no minimum balance via mobile app YONO till August 31, 2018 under a limited-period offer. SBI launched YONO or 'You Need Only One', an unified integrated app, last year. YONO offers all kinds of financial and lifestyle products of SBI. Customers can download YONO app on an Android-based smartphone from Google's Play Store and open a savings account instantly, right from the comfort of their home, according to SBI.

Also read: Important Things To Do Before March 31 If You're SBI Customer​

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Here are five things to know about who can open an SBI (digital) savings bank account via mobile app YONO:

1. Only Indian residents over 18 years of age with the capacity to contract in accordance with applicable laws in India, without any tax liability outside the country, are eligible for opening an SBI digital savings account, according to the bank's corporate website - sbi.co.in.

2. The customer must have a valid Aadhaar number - the 12-digit personal identification number issued by the UIDAI or Unique Identification Authority of India - and valid Permanent Account Number (PAN), according to SBI. In case customer's name as reflected in Aadhaar is different from that as reflected on the PAN card, the details as per Aadhaar will be taken on record, noted SBI.

3. The user must have a valid and active local mobile number registered in his/her name, a smartphone and an active email address in order to avail this facility.