State Bank Of India is one of the largest public sector banks in India. It has been providing myriads of banking and financial services to its customers for a long time. To supplement its customer satisfaction, it has launched its mobile application in 2017, SBI YONO that integrates banking and lifestyle features. YONO app incorporates lifestyle products of 14 different categories with the help of 6 big e-commerce players: Flipkart, Amazon, Yatra, Ola, etc. With this initiative, SBI aims to find a one-stop solution for every financial and lifestyle need.
Now let’s dive into the Meaning & Full Form of the SBI YONO App.
Meaning & Full Form of YONO
YONO is the mnemonic for ‘You Only Need One’ It is a one-stop solution app for all financial and lifestyle needs. The digital initiative brings all financial, banking, insurance, and lifestyle solutions under one roof. It is a multi-channel app that offers a seamless experience to its users. Users can book cabs, travel tickets and also perform shopping without any hassles. Developed using exceptional machine learning processes, advanced artificial intelligence, and predictive analysis, it is a solid e-commerce platform. It is available for android and IOs platforms at the moment.
Features and functionalities of SBI YONO App
- If you don’t have an account with SBI, open Insta account with SBI being at your home. Open an SBI account online through YONO app providing your Aadhar and PAN card details.
- People already having an account with the SBI can use SBI internet banking to log in to the YONO app. Also, if the internet banking services are not activated, users can effortlessly Activate Online SBI Internet Banking using their debit cards through yono app.
- You can also open a new bank account with SBI using the YONO app.
- SBI YONO app users also get a bank concession on bank service charges.
- It has a user-friendly interface that enables simple navigation. Moreover, it helps users enjoy quick fund transfers with paperless options.
- Another essential feature of the YONO app is that it even works without internet banking. Users can choose ‘not internet banking’ features and continue using the app service by filling in the required details.
- Currently, there is a transaction limit on the YONO app. Users cannot make a one-time transaction of more than 10,000 INR. Additionally, the total limit per day is 25,000 INR.
How to withdraw money from the YONO app
Users have to perform a series of steps to withdraw money from the YONO app:
- Sign up at the YONO app
- Enter user ID, password and all other credentials.
- Under the ‘request YONO cash,’ section users can view their account balance.
- After that, they can enter the amount, click next and successfully start the withdrawal process.
- To initiate the cash withdrawal process and dispense the amount, entering a six-digit YONO cash PIN is necessary.
Is the YONO app safe to use?
Another important thing that comes to every user’s mind when using a new application involving monetary transactions is: “is it safe to use the application?” Well, the answer to this question in the context of the YONO app is yes. State Bank of India places the security and safety of its customer a top priority. They use the best data security methods to ensure the confidentiality of user’s information.
Additionally, there’s no question of doubt on the YONO app’s reliability and authenticity as it is an SBI certified app.
All in all, the YONO app is a worthy digital initiative by Late Arun Jaitley. So, get started with the YONO app and start using all integrated features and facilities. The YONO app is the future and revolution of the digital banking space.