Overview Of SBI Kiosk Banking ServiceĀ From Samvriddhi Group

State Bank of India which has the largest branch network in the country invites eligible individuals/ NGOs/Companies (other than NBFCs)/ other entities to join hands with us to take banking to all.

SBI Kiosk transactions are bio-metrically secured; printed acknowledgment for each transaction is issued to the customer and has End-to-end process of account opening & transactions online. Micro savings and Micro remittance are done through No Frills Savings Bank Account.

What Services will SBI Kiosk banking provides?

Initially, Our SBI Kiosk banking will provide the following services:

  • Deposit of Cash
  • Withdrawal of Cash
  • Money transfer to another SBI account holder in other locations
  • SBI can enhance the product list of BC. However BF work shall start after stabilization of BC work

What are the benefits to your customers

  • A ‘No Frill SBI Accounts’ through KIOSK Banking Model
  • General purpose Credit Card (GCC)/Kisan Credit Card (KCC)
  • Term Deposit/Recurring Deposit
  • Regular SBI Saving Bank Account
  • Loans against Term Deposit Receipt (TDR) etc
  • Hassle free opening of savings account.
  • Less KYC documents.
  • No Queues.
  • No Travel expenses
  • Easy deposits, withdrawals & cash remittances.
  • Easy opening of R.D. & F.D Account.
  • Deposits can be made from anywhere.
  • Transfer Subsidies , Scholarships and other Benefits can be directly credited to the account.

What type of transactions the customer will carry on?

  • This is called a no-frills account where there is no minimum balance or charges levied.
  • Maximum balance can be Rs 50000. (Balances above this can be held, but then account is converted to a regular bank account and the terms of the bank and documentations will apply to these accounts).
  • Minimum Balance -Zero Balance.
  • Maximum limit of transactions is Rs10, 000/- per day. No Cheque book is issued.
  • Only Cash Transactions can be made & only in person by the account holder.
  • There is no signature required and only electronic thumb impression is used to access/use the account.
  • Customer also benefits from long banking hours : As long as the shop is open.