SBI Bank Digital Savings Account

 

Features

• An individual who fulfils the eligibility criteria mentioned above can open and operate SBI Digital Savings account in his/her own name. 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.
• 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 or as a CSP Account (except Basic Savings Deposit account and Pehla Kadam Pehli Udaan account).
• SBI Digital Savings for selected content is handset/operating system dependent. This Service is currently available on iPhone with iOS 8 and above, Android Phones with Android version 5.0 and above. There will be no obligation on the Bank to support all versions of Mobile Phone software.
• Branch selected by the applicant will be tagged as Home Branch for opening Digital Savings Account.
• The Nomination Facility is available within the Yono by SBI app and is mandatory for Digital Savings Account. Nomination can be made in favour of only one nominee.
• The Digital Savings account can be closed by making a written request at the home branch only.
• In addition to above, all the other Terms & Conditions will remain the same as per our Savings Accounts; details available on bank.sbi website under Personal Banking->Deposit Schemes > Savings Bank Account section.

• Bank has the absolute discretion to amend or supplement any terms and conditions at any time without prior notice by notifying through posting in the website of Bank or through any other means as Bank may deem fit which shall constitute sufficient notice and such amendments or supplements will be binding on the customer. Customer usage of new functionalities or facilities or features notified or made available will be treated as acceptance of terms and conditions applicable thereof. Customers are legally bound by the transactions, validations, confirmations and/or authorizations undertaken through any electronic or digital modes by using user id, password, one time password or any other means.
• Cheque book charges will be same as are applicable to normal savings account.
• A Classic Debit Card will be issued in the account, free of cost. ATM pin has to be generated through Green PIN process. Annual maintenance charges will be as per extant guidelines for normal savings accounts. ATM pin has to be generated through Green PIN process.
• Passbook will not be provided in the account. Customer will be sent an audio-visual statement by email.
• A monthly Electronic Statement will be available as per the Bank's record; however, this duration is subject to discretion of the Bank.
• Customer will be required to maintain minimum balance as defined for normal Savings Bank Account. However, Minimum balance charges for Digital Saving Account have been waived till 31st March 2019.