If you wish to save for your future and earn interest on your savings, you can opt for opening a State Bank of India Savings Account. State Bank of India or SBI Savings Account interest rate is 2.70% p.a. SBI Savings Account comes with many attractive features like first 10 cheque leaves free in a financial year, nomination facility, nil Monthly Average Balance requirement, no limit on maximum balance, SBI Quick Missed call facility, facility of transfering accounts through Internet Banking channel, and so on.
Follow the steps mentioned below to open a SBI savings account at SBI Bank branch:
Following are the key features and advantages of opening SBI savings account:
Also Check: SBI Free Cibil Score
Applicants have to meet the criteria mentioned below to be eligible for opening a savings account in SBI:
Applicants have to submit the following documents for opening SBI Savings Account:
Also Check: SBI Home Loan Cibil Score
After the mandate by the Government of India, all savings account customers have to nominate a beneficiary who can operate their account on their behalf. When an applicant fills the savings account application form, they will be required to select a nominee. If the chosen nominee is a minor, they will be permitted to operate the account only after turning 18 years old. In case of the demise of the primary account holder, the nominee can operate the savings account on their behalf.
After the bank approves your request of opening a savings account, you will receive a savings account welcome kit that contains:
One will have to ensure that the welcome kit is sealed on arrival.
Also Check: SBI Cibil Score for Personal Loan
For any query, grievance, or feedback related to SBI savings account, you can contact the SBI helpline at (1800) 112 211.
You can open a savings account in SBI online as well as offline. Following are both procedures:
Yes, you can open an SBI account online through the official website of the bank, YONO mobile app of the bank or your SBI netbanking account.
Yes, you can open an SBI account online without visiting the bank branch. You can opt for any of the following options to open SBI account:
Applicants have to make an initial deposit of Rs. 1,000 to open an account in SBI Bank.