SBI Current Account Benefits; Read How to Open it Online & List of Important Documents Required by Applicants

The country’s largest lender, State Bank of India (SBI) current account is easily created by the bank on a request made by an individual customer. SBI current account which is also called a financial account allows its customers a more frequent and immediate access to their account. This facility is given by the bank to its customers to meet their liquidity requirements which can be customised as per the needs of the customer.

It is to be noted that SBI Current account facility is offered to those customers who carry out significantly higher number of transactions with the bank be it from our rural villages.

Benefits of SBI Current account facility:

1.This facility allows its customers or the account holders to make payments to creditors through the cheque facility.

2.It allows customers a more frequent & immediate access to their account.

3.Usually, the current account does not provide interests.

4.It requires a higher minimum balance when compared to the savings account.

5.It allows the customers to meet their liquidity requirements which can be customised by them as per their needs.

How to open SBI current account online?

You can also open SBI current account online. Customers need to fill up the “Account Opening Form” (AOF) & submit the required details online. An ARN or “Application Reference Number” will then be sent on the applicant registered mobile number.

The applicants need to download & print the “Account Opening Form” using ARN sent on the registered mobile number. Finally, go to the selected branch with photograph, account opening form, and applicable KYC documents.

KYC (Know Your Customer) information:

Customer must note that they need to provide their KYC (Know Your Customer) information. It includes information about the current account you wish to open & the facilities you would want in the account. Form 60, if customer does not have Permanent Account Number (PAN) of Income Tax. The person who wants to open a current account with the SBI has to submit a photograph and KYC documents based on type of application.

Features of SBI current account:

• Customers can simply submit an application from anytime & anywhere at their convenience.

• Time taken for the account opening at the branch will be less, as the data will already be available in the system.

• The data will be submitted on a VeriSign secured site. Thus, it will be safe and the information will be encrypted before transmission.