Online SBI: Gone are those days when opening a bank account required a visit to branch and heavy paperwork. The State Bank of India or SBI allows its customers to open a digital savings account. The account can be opened by visiting the official website of SBI — onlinesbi.com or sbi.co.in. They can also do so by logging onto SBI YONO App. 

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However, only Residents of India, who are over 18 years of age with capacity to contract in accordance with applicable laws in India, without any tax liability outside the country are eligible to open SBI Digital Account. 

The applicant must have a valid Aadhaar number and valid Permanent Account Number. SBI digital account applicant  must have a valid and active local mobile number registered in his or her name, and a valid and active email address. 

According to onlinesbi.com, "Customer will have to successfully complete e-KYC through biometric authentication by visiting any SBI branch and have to comply with all other requirements including KYC requirements as may be specified by the bank for Digital savings bank account."  

It also made it clear that at any given point of time, customers can have only one SBI Digital Savings Account.  Joint account or joint mandate for operation of SBI Digital Savings is not permitted. Each eligible individual can only open one SBI Digital Savings Account. 

SBI Digital account can be converted into SBI Savings Account and avail all benefits that SBI is giving to its savings account holders. SBI Digital Savings Account holder will have the option to convert the Digital Savings account to joint account only after converting it to a normal savings account by visiting the home branch. The customer will be allowed to convert the Digital Savings Account to normal Savings Account.