5 things you should know before participating in SBI's mega e-auction scheme:
The SBI Mega E-Auction is here! Register and on 29th May, 2018, bid for a chance to own any of the 1000 properties being auctioned. For more information, visit https://t.co/R9FO2V7Sl0#SBI#StateBankofIndia#SBIMegaEAuction#Auction#Propertiespic.twitter.com/czS8JpV3YC— State Bank of India (@TheOfficialSBI) May 24, 2018
1. EMD (Earnest Money Deposit) for the particular property as mentioned in the e-auction notice of SBI is essential, said State Bank of India (SBI). Earnest money is a deposit made to a seller indicating the buyer's good faith in an arrangement.
2. KYC (Know Your Customer) documents are essential to be submitted to the concerned branch. KYC is the process of identifying and verifying the identity of clients.
3. Valid digital signature is also required. Bidders may approach e-auctioneers or any other authorised agency to obtain digital signature, said SBI on its official wesbsite.
5. Bidders are required to login and bid during the auction hours on the date of e-auction as per auction rules of SBI.