Just days back we’ve seen SBI bring its Internet Banking site, Onlinesbi for mobile users. This is apart from the dedicated mobile app that existed since a year. So we are definitely seeing some serious technological advancements in the largest Public Sector Bank. Now, the bank is allowing you to open a Savings bank account online. Having said that, you will still need to visit the branch, just once, to submit the application form printout and supporting documents.
Filling the online form
The application is divided into two parts (A and B). First part is providing your details, that is the Customer Information and the second part is the Account Information section where you will chose what features you need for your account to have. You can chose to partially fill any part and then complete the remaining part later at your convenience. For this, you will be provided with a Temporary Customer Reference Number (TCRN) and a Temporary Account Reference Number (TARN). You can use these numbers to complete any part of the application before taking a print out.
Just like with Physical application form, you will have option to choose various features such as Cheque book, ATM cum Debit card, Internet Banking, Mobile Banking, SMS alerts, regular e-statements to your email etc. You can also open joint account (up to 3 members) with various operating rights.
Submitting the application form
Once everything is completed, you will have to submit the online application (which goes into banks’ database) and also take a print out in A4 paper. Along with this print out, 2 colour passport photographs and the required documents, you can visit any SBI branch near you (which then becomes your home branch) with in 30 days of submitting the online application.
This facility couldn’t have come at a better time for me since I needed to open an account in SBI for my work. When I went to the branch, it wasn’t such a seamless experience as SBI has said it would be. At first, the bank officials weren’t aware of this new facility and were insisting for a original SBI account opening form to be filled. I told the officer that this is a new feature and asked him to contact any senior official in the bank and then he was able to track my application online. He verified the documents, gave me a welcome kit and an Internet Banking kit (password will be mailed later to my address).
What is the advantage?
I possibly saved an extra visit to the bank and definitely saved some time. The real advantage arrives when SBI follows some of the private banks, where we can fill the form online and then the bank sends their executives to our address to verify and collect the documents.