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Introduction

State Bank of India is the largest public sector bank as well as the largest bank in India. With a network of over 24,000 branches across the country and 191 offices in 36 countries worldwide, it is the bank with the maximum presence in the country and as well as the largest global presence among all the Indian banks.

SBI has evolved over the years and today offers anytime anywhere banking via its mobile application known as YONO SBI. YONO in the name stands for ‘You Only Need One’, which is also the essence of this application. The customers get the option to carry out almost all of their banking transactions through this mobile application which can be downloaded from the Google Playstore or the Apple Store.

YONO SBI is like having a virtual bank that is at the customer’s disposal 24x7. The details of this virtual banking mode of SBI are mentioned right here.

What is YONO SBI?

YONO SBI is the single portal that can be used for all the banking needs of the SBI customer. It literally stands for ‘You Only Need One’ showing a clear intent of the bank for launching it. It can be used to connect to various other services of SBI like SBI Life Insurance, SBI Mutual Funds, SBICap Securities, SBI Card, etc. YONO SBI, also one of the most popular mobile applications widely used by the customers, can be used to transfer funds, open new accounts, apply for loans, credit cards, fixed deposits, insurance, investments, payment of utilities, etc.

How to open a new YONO SBI account?

SBI YONO, as mentioned above is the mobile application of SBI that is available to all customers across the globe. Customers can get access to their mobile banking account through YONO SBI. Both existing customers who already have an account with the bank or new customers can use the YONO SBI app. New customers can even open a new SBI account (personal or business account) using the app.

The procedure for opening a YONO SBI Bank Account is mentioned below.

  • The first step is to download the mobile application from the Google Playstore or the Apple Store.
  • After downloading the same, the customers will have to sign up (new customer) or login (existing customer) to the application using the credentials provided by the bank or using their mobile number as the case may be.
  • Post logging in to the application, the customers can update the profile as well as opt to open a new bank account if they are a new customer or operate their existing accounts.

Salient Features of YONO SBI

YONO SBI is the one stop shop for the customers of the bank to carry out all their banking operations on the go. SBI has many other mobile banking applications available for the benefit of the customers like SBI Anywhere Personal, SBI YONO Lite, BHIM SBI Pay and SBI Buddy. YONO SBI provides a host of functions and operational benefits to the customers that make it a very user friendly and hassle free banking experience for the customers. The features and benefits of this application are discussed below.

Single Stop Banking

YONO SBI is often referred as a one stop banking station for all the banking needs of a customer. Customers can apply for loans, start fixed deposits, transfer money, get insurance, start demat accounts, etc. This facility of YONO SBI banking is available to all the customers anywhere and at any time whether in the country or outside.

Secure

The YONO mobile application of SBI is a very secure platform where the data of the customer like their personal details as well as the funds held in the customer’s accounts. The transfer of funds through YONO SBI is also done in a secure manner to ensure that there is no loss or theft of funds from the customer’s account or during such transfer.

Ease of Money Transfer

YONO SBI provides the customers with a platform for easy transfer of funds. Customers can transfer funds to their own accounts held in other banks or to any other account at any time subject to the transfer limits set by the bank.

Online shopping

Customers get the benefit of online shopping through the SBI YONO wallet or can even use the SBI Card linked with the application to shop easily through any of the e-commerce websites or even at POS entities.

Pre-approved Loan

YONO SBI provides the customers with a pre-approved loan of up to Rs. 5,00,000. A pre-approved loan is in the nature of a personal loan that can be availed by the customer instantly without getting into the hassles of excess documentation and long processing period. This is an additional benefit for the customers of the bank.

Overdraft Against Fixed Deposit

SBI customers also get an additional benefit of overdraft facility on the fixed deposits held by them.

Other Facilities

The other facilities offered by YONO SBI include an expense summary, a detailed analysis of transactions identifying them and classifying them, get transaction history of SBI Card in YONO, details of all the accounts held with the bank (savings, current, loans, demat, fixed deposits, etc.) in one application, pay tax due and much more.

Besides the above features, this mobile application of SBI can also be used for many other purposes like to make various insurance payments, book flight or train tickets, etc. The business module of the app can be used for various business transactions through the unique products offered under YONO Business SBI such as Supply Chain Finance (SCF), Cash Management Product (CMP), E-forex services, e-trade, etc.

How to transfer funds using YONO SBI?

As mentioned above, SBI YONO provides a very safe and secure forum for the customers to transfer funds. This facility can be accessed by the customers from anywhere and at any time. The procedure to transfer funds from the customer’s account is stated hereunder.

  • The first step is to login to the YONO SBI application using the credentials received by the customer.
  • The next step is to select the option for Funds Transfer from the available options.
  • After selecting the same, the next step is to select the name and the account number where the funds have to be transferred.
  • If the account number is not already added as a payee then the customer will have to first add the details of the same and the account will be activated for transfer after 30 minutes.
  • After selecting the account number, the amount to be transferred is entered.
  • The customer will also have to select the email or the mobile number where they will receive the intimation for the transfer and the OTP for the same.
  • After confirming the details validating the transfer the funds will be successfully transferred from the customer’s SBI account to the transferee account selected by the customer.

How to withdraw cash from an SBI ATM without a debit card using YONO SBI?

YONO SBI can also be used to withdraw cash from the nearest SBI ATM even if the customer does not have the debit card. The procedure for the same is explained below.

  • The first step is to login to the YONO SBI App using the 6 digit MPIN of the customer.
  • After logging in the customer will have to select the YONO Pay option  and them select ‘YONO Cash’
  • The customer will then have to raise a request for cash withdrawal by entering the YONO Cash Pin and the other relevant transaction details including the amount.
  • After raising this request the customer will receive a verification code that will be valid for 4 hours
  • At the ATM, the customer will have to first click on the YONO cash option available
  • The customer will then have to enter the transaction reference number generated earlier and then the amount to be withdrawn.
  • The amount has to be the same as per the details mentioned to generate the transaction reference number.
  • After this the YONO Cash PIN has to be entered to authenticate the transaction and the cash will be dispensed from the ATM

YONO SBI Help Center

SBI has provided a dedicated helpline for any queries or issues that the customers may have with regards to the YONO SBI app as well as any of the features or any concerns regarding the safety and security of the app. Customers can contact the customer service of SBI at any time as it is available for any assistance 24x7.

Customers can provide their feedback, raise a complaint as well as track the complaint raised through this help centre. SBI Support helpline number that is available 24x7 for any kind of assistance is 1800 11 1101. For specific product related contact details, the customers can visit the website of YONO SBI and get the details for the same under the following link.

sbiyono.sbi wps portal yono_support #! contact-us

FAQs on YONO SBI

1. Can a person apply for a car loan through YONO SBI?

Yes. Customers can easily apply for the car loan of the bank using the YONO SBI app by clicking on the following link Menu Loan Car Loan Apply Now

2. Can a customer raise a complaint against the bank or any of its products or services through the YONO SBI app? If yes, how?

Yes. Customers can raise a complaint against the bank or any of its products and services through the YONO SBI app by logging in to the app and then selecting the ‘Support’ option available and then selecting the option ‘Raise a Complaint’.

3. What are the ancillary services available to the customers on the YONO SBI app?

There are many ancillary services available to the customers under the YONO SBI app. Some of the examples of the same are utility bills payment option, payment wallet for online shopping, set up auto payments, payment of Income Tax, etc.

4. What is the meaning of YONO Cash?

YONO Cash is the unique feature of the SBI’s mobile application where the customers can withdraw cash from the SBI ATMs without using the debit card.

5. What is the customer care number for YONO SBI?

The customer care number for YONO SBI is 1800 11 1101.

Latest & Update Yono Sbi News

YONO App to offer Fast-Tracked Two-Wheeler Loans and High-Ticket Personal Loans 29 May 2021

SBI is planning to offer fast-tracked two-wheeler loans and high-ticket personal loans via the YONO mobile app. Currently, the YONO app offers small personal loans up to Rs. 2.5 lakhs and opening of a savings bank account among other features. Curren...

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SBI is planning to offer fast-tracked two-wheeler loans and high-ticket personal loans via the YONO mobile app. Currently, the YONO app offers small personal loans up to Rs. 2.5 lakhs and opening of a savings bank account among other features. Currently, SBI is working on the back-end administrative tasks to offer two-wheeler loans and high-budget personal loans up to Rs. 5 to 10 lakhs via the app.

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