Big achievement for State Bank of India! YONO SBI gets 2 crore registered users on board

YONO SBI Alert: The State Bank of India’s (SBI’s) comprehensive digital service platform - YONO (‘You Only Need One’) has now touched the landmark of 2 crores (20 million) registered users. Since its inception in November 2017, YONO has been gaining immense popularity among customers as the platform provides them an all-in-one solution for their banking, shopping, lifestyle and investment needs. In a little over two years, YONO SBI has partnered with more than 100 e-Commerce players across 20 plus categories. SBI through YONO has come up with various initiatives catering to all categories of customers that include YONO Krishi, YONO Global, YONO Cash, YONO Shopping Festival and the likes.

Speaking on the YONO SBI achievement Rajnish Kumar, Chairman at SBI said, “We are happy to see our flagship digital offering YONO reaching newer heights. The milestone of 20 million (2 crores) registered users is a testament to our customers’ trust and acceptance for YONO. We are glad that our effort and investment to design YONO is showing impressive results. We are aiming to onboard all our existing and new customers to YONO to provide them with a delightful shopping, banking and lifestyle experience all under one roof backed up with the latest technological innovation.”

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Since YONO SBI launch, the largest Indian commercial bank has disbursed 8.70 lac Pre-approved personal loans amounting to Rs 11,530.70 crore on YONO SBI and disburses around 4,000 loans per day. Also 3.4 lakh YONO Krishi Agri Gold Loans have been extended so far to the farmer customers.

So far YONO SBI has opened over 6.8 million Savings Bank accounts on YONO App with customers having an option to open Digital Savings Account 24x7 with just 1-time branch visit for KYC. Through YONO SBI, the Bank is opening 20,000 accounts every day. The YONO Cash has facilitated more than 5 million safe and secure card-less ATM transactions so far from 2,50,000 touch-points across ATMs and merchant outlets. SBI YONO also issued over 1 lakh SBI credit cards via YONO SBI App in the last two years.

On average, SBI disburses almost 10,000 YONO Krishi Agri Gold Loans every day. YONO Krishi is also providing Mandi as an Agri-Input marketplace and Mitra as a knowledge hub, which covers farm advisory services,  mandi prices for different commodities and weather updates. YONO SBI also encourages its users to impart investment habits along with taking care of their shopping and lifestyle needs. In a matter of 27 months, YONO SBI witnessed around 4 lakh life insurance policies and 67,511 mutual funds being sold to customers.

YONO SBI is on a journey of digital transformation. It has been an integral part of the bank for the past two years and is accepted greatly by the customers. The Platform has now reached global markets with YONO Global in UK. On the sustainability front, YONO has been encouraging customers to contribute their reward points towards a cleaner and greener environment under the YONO Green Rewardz Points program. In the last two years, SBI through YONO has come up with diverse youth engagement initiatives such as YONO Shopping Festival - the first-ever shopping festival by a bank in India, YONO inFINite (fintech conclave), YONO SBI Twenty Under 20 Awards that honours young talent aging below 20 and Numero YONO - India’s biggest inter-college quiz competition.