Steps to Open SBI Savings Account

Customers can register a State Bank of India Savings Account if they want to put money away for the future while also earning interest on their deposits.

Customers can opt to create a savings account at one of the over 22500 branches, 63,580 ATMs, and 82900 BC Outlets available to them and take advantage of the convenience that comes with a savings account.

Steps to Open a Savings Account in State Bank of India (SBI) Offline:

To open a SBI savings account at any SBI Bank branch, customers will have to follow the steps mentioned below:

Step 1: Visit the nearest branch of SBI.

Step 2: Ask for a form to open a savings account.

Step 3: Fill out the form according to the specifications.

Step 4: In case you do not possess a PAN card, fill out form 2.

Step 5: Enter all the requested information and submit it along with relevant KYC documents.

Step 6: Deposit a minimum amount of Rs.1,000.

Step 7: Take your free passbook and cheque book once the process is completed.

Steps to Open a Savings Account in State Bank of India Online:

Follow the steps mentioned below to open a savings account online in State Bank of India -

Step 1: Visit the official website of State Bank of India.

Step 2: Under the ‘Accounts’ section, click on the ‘Savings Account’ option.

Step 3: Click on the ‘Apply’ option.

Step 4: Enter the requested details such as your name, date of birth, address, etc., in the application form.

Step 5: Click on the ‘Submit’ option.

Step 6: Once this process is finished, go to the branch with the necessary KYC documentation.

Step 7: SBI will initiate the verification process and activate your account within three to five business days.

How to Open SBI Insta Savings Account through Video KYC?

To open SBI Insta Savings Account through video KYC, follow the steps mentioned below -

Step 1: Download the YONO App in your phone.

Step 2: Open the YONO App and select ‘New to SBI’ and then ‘Open a Savings Account.’

Step 3: next, select ‘Without Branch Visit’ option.

Step 4: You will be redirected to a new page where you have to enter your PAN and Aadhaar details.

Step 5: Next, enter the One Time Password (OTP) which is sent to your Aadhaar registered mobile phone.

Step 6: After this, you will be asked to provide more details.

Step 7: After filling in the details, you will be asked to schedule a video call.

Step 8: Complete the KYC process at the scheduled time to open your savings account.

Types of SBI Savings Accounts:

The following are the various types of savings account of State Bank of India:

  1. Basic Savings Bank Deposit Account
  2. Basic Savings Bank Deposit Small Account
  3. Savings Bank Account
  4. Savings Account for Minors
  1. Savings Plus Account
  2. Insta Plus Savings Bank Account through Video Know Your Customer (KYC)
  3. Motor Accidents Claim Account
  4. Resident Foreign Currency (Domestic) Account

Eligibility for State Bank of India Savings Account:

To be eligible to open a savings account in State Bank of India, customers need to meet certain criteria:

  1. Should be a citizen of India.
  2. The individual should be 18 years and above to be eligible.
  3. In the case of minors, the parents or legal guardian of the minor can open the account on their behalf.
  4. The applicant is required to have valid identity and address proof that is Government approved.
  5. Following approval from the bank, the applicant will have to make an initial deposit - depending on the minimum balance requirement of that particular savings account he/she has chosen.

Documents Required to Open SBI Savings Account:

To be eligible for the SBI Savings Account, customers will have to submit the following documents along with account opening form:

Proof of identity

Aadhar, Passport, Driving license, Voter's ID card, etc.

Proof of address

Other important documents

  1. Permanent Account Number (PAN) card
  2. Form 16 (only if PAN card is not available)
  3. Two latest passport size photographs

Basic Savings Account (Pradhan Mantri Jan Dhan Yojana):

This savings account from SBI is designed to give special emphasis to the poorer sections of society by offering them a facility where they can save their money.

Minimum or Maximum Limit

Applicants having valid KYC documents are eligible

Cheque Book Facility

Monthly Withdrawal Limit

Four free monthly cash withdrawals from Automated Teller Machines (ATMs)

RuPay ATM cum Debit Card

Nomination Facility, Safe Deposit Lockers

SBI Regular Savings Bank Account:

SBI Regular Savings Bank Account is offered to the applicants who apply for an SBI savings account. In fact, it is a basic savings bank account which provides certain facilities such as internet banking, SMS banking, credit card, debit cards, and others. Individuals need to submit a KYC document in order to open this account.

All central/ individuals/ state government departments PAN card needed to open a savings account

RuPay ATM cum debit card and personalized debit card

According to the terms and conditions

Cheque Book Facility

First ten cheque leaves free in a financial year Post that, for ten leaf cheque books: Rs.40 plus GST For 25 leaf cheque book: Rs.75 plus GST

Zero balance savings account:

  1. The account can be opened online
  2. No minimum monthly average balance requirement
  3. Mobile banking and internet banking facility
  4. Nomination facility is provided

SBI Basic Small Savings Account:

This savings account is designed for the economically weaker section of society and at the same time does not have valid KYC documents due to which they are struggling to open a bank account.

Minimum or Maximum Balance

Individuals more than 18 years of age who do not have official KYC documents (thumb impression or thumb and self-atested photographs in presence of authorized branch officer)

ATM Charges Monthly Withdrawal Limit

Maximum of four withdrawals are allowed

Basic RuPay ATM cum debit card

Maximum transaction limit: Rs.10,000 Zero Balance Savings Account Maximum credit provided per year: Rs.1 lakh foreign remittance is allowed for a valid KYC Account facility is offered at Personal Banking Branches/ Mid Corporate Group/ Special Personalize Banling/ Corporate Account Group branches

SBI Savings Account for Minors:

SBI Savings Account for Minors is introduced by the bank to the children with an aim to help them in learning the importance of money and savings. Not only this but it also helps them to experiment with purchasing power so that they can gain experience in managing money for the future. However, the account should be opened and operated by the guardians and parents.

Minimum Average Balance