1️. Insta Plus Savings Bank Account (Through Video KYC)
Want to open a savings account from the comfort of your home? The Insta Plus Savings Account is opened through a quick Video KYC process—no branch visits required!
Key Features:
- 24/7 Access: Open anytime using Video KYC.
- Paperless Process: Aadhaar and PAN details only.
- Fund Transfers: Use NEFT, IMPS, and UPI via YONO or Internet Banking.
- ATM-Debit Card: Get a RuPay classic card.
- Hassle-free Banking: Manage through YONO app, mobile, and internet banking.
Perfect for those who prefer an easy and contactless banking experience.
2️. Basic Savings Bank Deposit Account
Ideal for individuals looking to save without the burden of fees or charges, especially suited for lower-income groups.
Key Features:
- No Minimum Balance: Save freely without maintaining a balance.
- No Upper Limit: Save as much as you want.
- Withdrawals: Use a withdrawal form or ATMs for easy access.
- ATM-Debit Card: A RuPay debit card is provided.
A no-fuss account for those starting their savings journey!
3️. Basic Savings Bank Deposit Small Account
Designed for people from lower-income groups, this account allows easy saving even if you lack thorough documentation.
Key Features:
- No Minimum Balance: Start saving without worry.
- Maximum Balance Limit: Save up to ₹50,000.
- ATM-Debit Card: A RuPay debit card for easy withdrawals.
A simple savings account for users who are still working on completing their documentation.
4️. Savings Bank Account
SBI’s traditional savings account offers smart features and an unlimited balance, making it ideal for individuals who want all-around flexibility.
Key Features:
- Mobile & Internet Banking: Access through apps like YONO or State Bank Anywhere.
- No Minimum Balance: No minimum monthly average balance required.
- Unlimited Balance: No upper limit on the amount you can save.
- Cheque Book & Passbook: 10 free cheque leaves yearly + passbook.
- Nomination Facility: For added security.
Best suited for those who want a reliable, full-service savings account with easy access and no balance restrictions.
5️. Savings Account for Minors
Teaching kids about money management? SBI offers Pehla Kadam and Pehli Udaan savings accounts, specially designed for minors.
Key Features:
- No Minimum Balance: Easy for kids to start saving.
- Max Balance: Up to ₹10 lakh.
- Cheque Books: Personalized for minors and guardians.
- ATM-cum-Debit Cards: Photo-embossed with a ₹5,000 limit.
- Mobile Banking: View rights and limited transactions with a daily cap of ₹2,000.
- Auto Sweep Facility: Balance over ₹20,000 can be swept into higher interest accounts.
A great way to teach kids about banking and personal finance while giving them real-world banking experience.
Who’s Eligible?
- Insta Plus: Open through Video KYC.
- Basic Savings: Anyone with KYC documents can open.
- Savings Account for Minors:
- Pehla Kadam: Joint account with a parent/guardian (for all ages).
- Pehli Udaan: Kids 10+ who can sign uniformly can open on their own.