SBI introduces digital opening of NRE/NRO account setup through YONO

Mumbai, State Bank of India, the country’s largest lender has introduced a digital facility for NRIs to effortlessly open NRE and NRO accounts (both savings and current accounts) through SBI’s YONO. This service is designed for NTB or “new to bank” customers, providing them with ease and efficiency in the account opening process.

This initiative fulfils a long-standing demand from NRI customers who have yearned for a hassle-free way to open and manage their accounts in India. The bank has leveraged technology to create a seamless, digitized account opening process that ensures efficiency and accuracy, making it a one-stop solution for NRI banking needs. Customers can track the status of their applications in real-time, keeping them informed every step of the way.

Speaking on the launch, Shri Nitin Chugh, DMD & Head (Digital Banking & Transformation) said, “SBI has always been at the forefront of innovation and customer-centric solutions, and this latest offering is no exception. With the launch of this digital service, NRIs can open their NRE/NRO accounts from the comfort of their homes, eliminating the need for an in-person visit to India. This innovative approach simplifies the process for NRI customers and empowers SBI branches with the tools they need to provide quick and efficient customer service.”

SBI’s commitment to serving its NRI customers is unwavering, and the introduction of the YONO SBI NRI account opening service is evidence of this dedication. By bridging geographical boundaries and removing traditional barriers, SBI is making it easier than ever for NRIs to access world-class banking services.

Three quick steps to open your NRI/NRO account through YONO:

Step 1: Download YONO SBI app

Step 2: Select the option to open an NRE/NRO account

Step 3: On successful submission customers have two options to submit their KYC: option 1 – submit the document at an SBI branch of choice in India; option 2 – Attest the KYC documents by a Notary, Indian Embassy, High Commission, SBI Foreign Office, Representative Office, Court Magistrate, or Judge and mail them to a centrally designated branch for processing.