Money & Banking

SBI’s YONO chalks up 2 crore registered users

Our Bureau Mumbai | Updated on March 05, 2020 Published on March 05, 2020

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State Bank of India (SBI) on Thursday said its digital service platform YONO (You Only Need One) now has two crore registered users.

The platform, which was launched in November 2017, provides customers an all-in-one solution for their banking, shopping, lifestyle and investment needs, the bank said in a statement.

“So far, SBI has opened over 68 lakh SB accounts on YONO with customers having an option to open digital savings account 24x7 with a one-time branch visit for KYC (know-your-customer). Through YONO SBI, the bank is opening 20,000 accounts every day,” the statement said.

The bank said YONO Cash has facilitated more than 50 lakh safe and secure card-less ATM transactions so far across 2.5 lakh touch-points (ATMS and merchant outlets). The bank also issued over one lakh SBI credit cards via YONO in the last two years.

According to the statement, since YONO’s launch, SBI has disbursed 8.7 lakh pre-approved personal loans amounting to ₹11,530.70 crore. The platform also disburses around 4,000 loans per day.

“Also, 3.4 lakh YONO Krishi Agri Gold Loans have been extended so far to farmer customers. On an average, SBI disburses almost 10,000 YONO Krishi Agri Gold Loans every day,” the statement added.

In the last 27 months, YONO SBI witnessed around four lakh life insurance policies and 67,511 mutual funds being sold to customers.

Rajnish Kumar, Chairman, SBI, said, “We are aiming to on-board all our existing and new customers to YONO to provide them with a delightful shopping, banking and lifestyle experience all under one roof backed by the latest technological innovations”

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Published on March 05, 2020
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