From home loans to recurring deposits queries; SBI's SIA will answer it all for you

After HDFC Bank, now State Bank of India has launched a chatbot called as 'SBI Intelligent Assistant or SIA.

Chatbots are digital robots that can provide information for any queries either through audio or text.

SBI Intelligent Assistant (SIA) serves you with information related to products like home loan, education loan, car loan, personal loan, recurring deposit, term deposit and more.

When you open the chatbot – you can directly type in the information you want to know related to above mentioned category.

In case of home loan, it provides information like eligibility, documents required, interest, processing and tenure.

Similar is the case for other category loans.

If you need to make any deposits – this chatbot will serve you with inquiries like eligibility, minimum deposit, maximum deposit, interest rate, payment of interest, tenure, premature payment, nomination facility and TDS.

Other inquiries like festival loan, loan against shares, loan against debentures, loans against mutual fund units, loan against time deposit, loan against mortgage of immovable property, ATM cum debit card, SBI quick and gold loan are also answered through this SIA.

SBI is not the only one who is investing in Artificial Intelligence (AI) in order to boost their overall performance.

Recently, HDFC Bank has introduced a humanoid robot Ira in its various branches. 

Last year, ICICI Bank launched 'Software Robotics' – which imitates human actions and is in over 200 business processes across its various operations. 

Also Axis Bank is not faraway - to offer mobile banking services, it  has partnered with a Singapore-based fintech to launch chatbots.