YONO : India’s largest public sector lender, the State Bank of India (SBI), has unveiled a revolutionary digital service tailored for Non-Resident Indians (NRIs).
This service, aptly named ‘NRI Account Opening,’ through SBI’s YONO platform, has been designed to cater to “new to bank” (NTB) customers, making the process of opening NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts, both savings and current, a breeze.
For years, NRI customers have yearned for a hassle-free method to open and manage their accounts in India, and now, SBI has heeded their call. Leveraging cutting-edge technology, the bank has introduced a seamless, digitized account opening process that ensures efficiency and accuracy, serving as a one-stop solution for all NRI banking requirements.
One of the standout features of this service is that customers can track the status of their applications in real-time, keeping them informed every step of the way.
A Digital Banking Milestone by SBI
Nitin Chugh, Deputy Managing Director, and Head of Digital Banking and Transformation at State Bank of India expressed his enthusiasm for this digital milestone, saying, “State Bank of India has always been at the forefront of innovation and customer-centric solutions, and this latest offering is no exception.”
The significance of this innovation cannot be overstated. With the launch of this digital service, NRIs can open their NRE and NRO accounts from the comfort of their homes, eliminating the need for an in-person visit to India.
YONO & NRI customers
This transformative approach not only simplifies the process for NRI customers but also equips SBI branches with the necessary tools to provide swift and efficient customer service, setting a new benchmark in the world of NRI banking.
Three Easy Steps to Open Your NRI/NRO Account through YONO:
- Download the YONO SBI app: Begin your journey by downloading the YONO SBI app from your preferred app store.
- Select the option to open an NRE/NRO account: Launch the app, and select the option to open an NRE or NRO account, depending on your requirements.
- Choose your KYC submission method: Upon successful submission, you have two convenient options to submit your Know Your Customer (KYC) documents. You can either submit the documents at an SBI branch of your choice in India, or you can attest the KYC documents by a Notary, Indian Embassy, High Commission, SBI Foreign Office, Representative Office, Court Magistrate, or Judge and mail them to a centrally designated branch for processing.
With these simple steps, you can embark on your NRI banking journey with SBI, enjoying the benefits of a fully digitized, hassle-free account opening process.
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