In a significant move, the State Bank of India (SBI), India’s largest bank, has introduced a convenient service for its Non-Resident Indian (NRI) customers.
NRI account holders with SBI can now effortlessly open NRI and NRO savings and current accounts digitally through the YONO app.
This new feature is tailored to simplify the account opening process, specifically designed for new customers of the bank.
With this development, NRI and NRO customers of SBI can easily initiate the account opening process from the comfort of their homes.
Opening an Account from Home
SBI’s latest digital service empowers NRI customers to open their NRO or NRE account without the need to physically visit an SBI branch in India.
This streamlined process aligns with SBI’s commitment to enhancing customer convenience.
Nitin Chugh, Deputy Managing Director and Chief of Digital Banking at the bank, emphasized that this initiative aims to expedite and simplify the account opening experience for NRI customers.
How to Open an NRI or NRO Account via YONO App
To initiate the process of opening an NRI or NRO account using the YONO app, follow these steps:
- Download YONO App: Begin by downloading the YONO app, the digital banking platform of SBI.
- Choose Account Type: Within the app, select the option to open an NRI or NRO account.
- KYC Verification: You will have two options for completing the Know Your Customer (KYC) process.
- The first option involves submitting the necessary documents at an SBI branch of your choice in India.
- Alternatively, the second option allows you to have your documents verified by a notary, the Indian Embassy, High Commission, SBI Foreign Office, representative’s office, court magistrate, or a judge.
- Once verified, these documents can be sent to the designated branch for processing.
- Real-Time Application Tracking: SBI customers can easily track the status of their applications in real time, ensuring transparency and convenience throughout the process.
With this digital leap, SBI empowers its NRI customers to manage their banking needs effortlessly, making the account opening process faster and more accessible.