SBI Business Current Account: If you wish to open a current account for your business, SBI offers a wide range of features. SBI has designed its current accounts for small business owners, professionals, and traders who seek a cost-effective account with extensive benefits. Notably, the SBI current account allows for free monthly cash deposits of up to ₹5 lakh. Customers are required to maintain a minimum monthly balance (or average balance) of ₹5,000 in the account. Anyone with valid KYC documents is eligible to open an SBI current account. Let us look at the simple process for opening this account.
Discover the Benefits
One of the primary benefits is a free chequebook with 50 leaves. Additionally, customers receive mobile banking, internet banking, and a free ATM card for the first year. The regular current account allows for free monthly cash deposits of up to ₹5 lakh.
Funds can be transferred between branches free of charge, and there is no upper limit on the maximum balance a customer can maintain. A nomination facility is also provided.
Open an Account via Video Call from Home
You do not need to visit a bank branch to open an SBI account; you can do it from the comfort of your home. The process is easily completed via a video call. SBI has introduced a facility to open accounts using video KYC through its mobile banking app, YONO. This feature enables customers to open an account without visiting a branch. It is a contactless and paperless process powered by AI. The Video KYC facility is available for customers planning to open a new SBI savings account.
Understand the Process
To avail of this facility, simply download the YONO app. Android users can download it from the Google Play Store, while iPhone users can get it from the Apple App Store. Once downloaded, open the app to proceed. Next, click on ‘New to SBI’ and select the ‘Insta Plus Savings Account’.
Enter your Aadhaar details in the app; once Aadhaar verification is complete, you will need to provide personal information such as your name, address, and mobile number. You will also need to schedule a video call to complete the KYC process. Upon successful completion of the video KYC, the account will be opened easily.