SBI Zero Balance Account Opening Online Without Visiting Branch

By Bikash

SBI Zero Balance Account Opening Online Without Visiting Branch: A Simple Guide for 2024

In 2024, banking has become easier and more convenient. State Bank of India (SBI), which is the biggest government-owned bank in India, now gives you the opportunity to open the SBI Zero Balance Account Opening Online. The best part is that you don’t have to go to a physical branch anymore. In this article, we will take you through the step-by-step process of SBI Zero Balance Account Opening Online. We will also discuss the necessary documents, any charges that may be involved, and how even minors can take advantage of this service. So, let’s get started!

SBI Zero Balance Account Opening Online in 2024:

SBI has joined the digital era and now provides the choice for its customers to open a zero balance account online. You no longer need to go to the bank physically to open an account. Now, you can do it right from your home in a comfortable and hassle-free way.

Online SBI Zero Balance Account Opening Eligibility

To be eligible to open a zero balance account with SBI online, you must meet the following criteria:

  1. You must be a resident of India.
  2. The applicant must be 18 years of age or older.
  3. Users who do not already have an SBI savings account are eligible.
  4. Individuals who have not previously opened a savings account through Aadhaar OTP are also eligible.

Documents Required for SBI Zero Balance Account Opening Online:

To open a zero balance account online with SBI, you will need the following documents:

  1. Aadhaar Card: The Aadhaar card serves as the primary identity document for opening an online account with SBI.
  2. PAN Card (optional): Though it is not compulsory, having a PAN card simplifies the KYC (Know Your Customer) process.
  3. Mobile Number: You should have a registered mobile number, linked with your Aadhaar card, for verification purposes.
  4. Email ID(optional): A valid email address is needed for account-related communications and notifications.

SBI Zero Balance Account Opening Online Without PAN Card:

While having a PAN card is not mandatory, it is advisable to have one as it simplifies the KYC process during online account opening. However, if you don’t have a PAN card, you can still proceed with the account opening process by providing other necessary documents like Aadhaar card and alternate identification documents.

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SBI Zero Balance Account Opening Online Charges:

One of the significant advantages of opening a zero balance account online with SBI is that it does not entail any charges. SBI offers this facility to encourage financial inclusion and make banking accessible to everyone.

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Account OpeningOpening an SBI Zero Balance Account onlineFree
Minimum Balance RequirementMaintaining a minimum balance in the accountNo minimum balance required
TransactionsFree: Up to 4 withdrawals (including ATM withdrawals and UPI transactions) per month.Free for upto 4 transactions
TransactionsCharged: Transactions exceeding 4 withdrawals per monthCharges applicable as per SBI’s standard transaction fees
DepositsDeposits into the accountFree
Maximum Deposit LimitTotal deposits allowed in a financial yearNo charges, but limit of Rs. 1 lakh per year applies
SMS AlertsOptional service to receive transaction alerts via SMSCharges applicable as per SBI’s standard SMS charges
Cheque BookNot available for SBI Zero Balance AccountsNot applicable

SBI Zero Balance Account Opening Online – Step-by-Step Process:

Here are the steps to download, install, and open the YONO SBI app on your smartphone, and open a Zero Balance Account Online:

  1. Download and install the YONO SBI app on your smartphone.
  2. Make sure you have a valid Aadhaar card and PAN card.
  3. Open the YONO SBI app.
  4. If you are a new user, register for a new account. If you are an existing user, log in using your credentials.
  5. Look for the option “New Account” or “Open Savings Account”.
  6. Select “Savings Account” and then choose “Zero Balance Savings Account” or a similar option.
  7. Fill out the application form with your personal details and nominee information, if applicable.
  8. After submitting the form, you may be asked to schedule a video call for KYC verification. Choose a convenient time.
  9. At the scheduled time, log back into the YONO SBI app and select “Resume” for the video call.
  10. A bank representative will connect with you via video call. During the call, be prepared to show your Aadhaar card and PAN card for verification.
  11. Follow the instructions provided by the representative for the verification process.
  12. Once your details are verified, your SBI Zero Balance Account will be opened. You will receive your account details through SMS or email.

Please note that the KYC verification process may vary depending on the bank’s requirements and policies. It’s always recommended

SBI Zero Balance Account Opening Online YONO Application

SBI Zero Balance Account Limitations

There are some Limitations on SBI Zero Balance Account:

Transaction limits:

  • You can withdraw money 4 times in a month for free, including ATM and UPI transactions.
  • The total deposit in a financial year is limited to Rs. 1 lakh.

Balance restrictions:

  • The maximum account balance cannot exceed Rs. 50,000 at any point in time.

Other limitations:

  • You cannot get a cheque book facility with this account.
  • You can open and transact accounts primarily through the YONO SBI app, but this may change.
  • This type of account may not be available at all SBI branches, as it’s usually offered only at regular branches.

SBI Zero Balance Account Opening Online for Minors:

SBI also offers the facility of opening a Zero Balance account online for minors. Parents or legal guardians can open these accounts on behalf of their children, ensuring their financial security and teaching them about banking from an early age. The process for opening a minor account online is similar to that of opening an account for an adult. Otherwise, you can visit your nearest SBI branch to open a Savings Account for Minors.

Conclusion on SBI Zero Balance Account Opening Online

SBI Zero Balance Account Opening Online in 2024 has become hassle-free and convenient. With the digital transformation in banking services, SBI ensures that individuals can access its services without the need to visit a branch physically. By following the simple steps mentioned above and providing the necessary documents, anyone can avail of the facility of a zero balance account with SBI. Whether you are an adult or a minor, SBI is committed to providing inclusive banking solutions and empowering customers with the convenience of online banking.

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By Bikash
Hello! I'm Bikash, a skilled Web Developer and Blogger with more than 5 years of experience in the digital marketing fields. My passion is Share my Own Experience by Blogging and creating unique, approachable websites that create a lasting impact. My love of both technology and creativity encourages me to keep up with the most recent developments and industry best practices.
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