State Bank of India (SBI) offers current account options designed for businesses, traders, professionals and other customers who need regular banking transactions. The Regular Current Account has a minimum average balance requirement of ₹5,000 and allows free cash deposits of up to ₹5 lakh per month, according to SBI’s published service-charge schedule.
Customers with the required KYC documents can apply for an SBI current account. The account also provides several banking facilities aimed at making day-to-day business transactions easier.
Key Benefits of SBI Current Account
The Regular Current Account comes with facilities such as a free 50-leaf cheque book, mobile banking and internet banking. Customers can also get an ATM card, with the first-year facility mentioned in the provided information.
Another feature is the facility to transfer funds between SBI branches without charges under the applicable terms. There is also no specified upper limit on the maximum balance that can be maintained in the account. A nomination facility is available as well.
For the Regular Current Account, SBI’s published schedule lists a minimum average balance of ₹5,000 and free cash deposits up to ₹5 lakh per month.
SBI Account Opening Through YONO
The information provided also refers to SBI’s Video KYC facility through the YONO app. However, this facility is specifically for opening an Insta Plus Savings Account, not the Regular Current Account. SBI states that new-to-bank customers can open an Insta Plus Savings Account through video-based customer identification without visiting a branch.
The process is designed to be paperless and can be initiated through the YONO app. Customers can download the application from the relevant app store and select the new-customer account-opening option.
How to Open an Insta Plus Savings Account Through YONO
After installing YONO, select “New to SBI” and then choose “Insta Plus Savings Account.” Enter the required mobile and Aadhaar-related details and complete the Aadhaar verification process.
Applicants must provide the required personal information and schedule the Video KYC call. SBI’s process requires the customer to be physically present in India during account opening, and the original PAN card must be displayed during the video call.
Once the Video KYC process is successfully completed and the required verification is finished, the Insta Plus Savings Account can be opened without a branch visit.
For a business requiring a current account, customers should follow SBI’s applicable current-account opening process rather than confusing it with the YONO Video KYC process for the Insta Plus Savings Account.