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Opening SBI Savings Account Online

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.

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Steps to Open a Savings Account with SBI Offline

Follow the steps mentioned below to open a SBI savings account at SBI Bank branch:

  • Visit the nearest SBI branch.
  • Request for a savings account opening form to the bank executive.
  • You will have to fill both the parts as mentioned below on the account opening form:
    • Form 1: Name, signature, address, and various other details and assets.
    • Form 2: This part has to be filled by applicants if they do not have a PAN card.
  • Make sure that every field in the form has been entered completely and accurately. The information mentioned in the application form must match with the details mentioned in the KYC documents submitted by you.
  • Applicants will then have to make an initial deposit of Rs. 1,000.
  • The account holder will receive a free passbook and cheque book as soon as the bank finishes the verification process.

Steps to Open a Savings Account with SBI Online

  • Visit the official website of State Bank of India and go to the Saving Account page mentioned under Accounts tab in the Personal section.
  • You can also click on this link to open the page directly: https://sbi.co.in/web/personal-banking/accounts/saving-account/savings-bank-account 
  • Now click on the “Apply Now” button and choose “ SBI Savings Accounts”.
  • Fill in the application form by entering your name, date of birth, address, and other details. 
  • Click on Submit.
  • Once you submit the required details, the bank will inform you to visit the nearest SBI branch with the required documents, i.e. identity proof, address proof, photographs, etc.
  • After submitting the documents, the bank will begin the verification process.
  • On approval, your account will be activated within 3 to 5 bank working days.

SBI Savings Account Features and Benefits

Following are the key features and advantages of opening SBI savings account:

  • Internet banking and mobile banking facility
  • Interest rate starts at 2.70% p.a.
  • SMS Alerts
  • YONO mobile app for instant banking anywhere
  • SBI Quick Missed call facility
  • First 10 cheque leaves are free in a financial year. Thereafter Rs. 40 + GST will be charged for 10 Leaf Cheque Book and Rs. 75 + GST for 25 Leaf Cheque Book. 
  • Restricted free withdrawals allowed based on Monthly Average Balance maintained.
  • Nomination facility available
  • Nil monthly average balance requirement
  • No limit on maximum balance
  • The facility of transfer of accounts via Internet Banking channel 
  • A passbook is issued to record the transactions
  • Duplicate passbook can be issued if the original one is lost, on payment of charges
  • Statement of accounts can be sent through email
  • Free Consolidated Account Statement.

SBI Savings Account Eligibility Criteria

Applicants have to meet the criteria mentioned below to be eligible for opening a savings account in SBI:

  • Applicants should be an Indian citizen aged 18 years and above.
  • For minors, the parent(s)/legal guardian of the minor can open a savings account on their behalf.
  • Applicants should have a valid identity and address proof approved by the Indian Government.
  • After approval from the bank, applicants have to make an initial deposit based on the minimum balance requirement of the savings account they have chosen.

Documents Required to Open SBI Savings Account

Applicants have to submit the following documents for opening SBI Savings Account:

  • Identity proof such as Passport, Driver’s License, Voter ID card, etc.
  • Address proof such as Passport, Driver’s License, Voter ID card, etc.
  • Other documents: Duly filled and signed savings account opening form, 2 latest passport size photographs, PAN Card, and Form 16 ( if PAN card is not available). 

SBI Savings Account Nomination 

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.

SBI Savings Account Welcome Kit

After the bank approves your request of opening a savings account, you will receive a savings account welcome kit that contains:

  • ATM debit card
  • PIN for SBI ATM debit card will be sent in a separate post.
  • SBI cheque book of 10 leaves.
  • Pay-in slips

One will have to ensure that the welcome kit is sealed on arrival.

SBI Savings Account Helpline

For any query, grievance, or feedback related to SBI savings account, you can contact the SBI helpline at (1800) 112 211.

Steps to Open SBI Saving Account FAQs

What is the procedure of opening a savings account in SBI?

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You can open a savings account in SBI online as well as offline. Following are both procedures:

Offline Process

  • Visit the nearest SBI branch.
  • Request for a savings account opening form to the bank executive.
  • You will have to fill both the parts as mentioned below on the account opening form:
    • Form 1: Name, signature, address, and various other details and assets.
    • Form 2: This part has to be filled by applicants if they do not have a PAN card.
  • Make sure that every field in the form has been entered completely and accurately. The information mentioned in the application form must match with the details mentioned in the KYC documents submitted by you.
  • Applicants will then have to make an initial deposit of Rs. 1,000.
  • The account holder will receive a free passbook and cheque book as soon as the bank finishes the verification process.

Online Process

  • Visit the official website of State Bank of India and go to the Saving Account page mentioned under Accounts tab in the Personal section.
  • You can also click on this link to open the page directly: https://sbi.co.in/web/personal-banking/accounts/saving-account/savings-bank-account 
  • Now click on the “Apply Now” button and choose “ SBI Savings Accounts”.
  • Fill in the application form by entering your name, date of birth, address, and other details. 
  • Click on Submit.
  • Once you submit the required details, the bank will inform you to visit the nearest SBI branch with the required documents, i.e. identity proof, address proof, photographs, etc.
  • After submitting the documents, the bank will begin the verification process.
  • On approval, your account will be activated within 3 to 5 bank working days.

Can I open an SBI account online?

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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.

Can I open a bank account online without going to the bank SBI?

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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:  

  • Official website of the bank
  • YONO mobile app of the bank 
  • Your SBI netbanking account
  • Calling the customer care number of the bank 

What is the minimum balance to open an account in SBI Bank?

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Applicants have to make an initial deposit of Rs. 1,000 to open an account in SBI Bank.