YONO Full Form

Introduction

YONO is abbreviated as You Only Need One.”

SBI (State Bank of India) launched the YONO app to make use of digital technologies, namely the “YONO website” as well as the "YONO mobile app," to reach all of the customers in its joint venture. The biggest bank in India's public banking sector is the State Bank of India. SBI releases a clever smartphone app that combines banking and leisure functions. The YONO app is a comprehensive digital banking platform that provides a range of lifestyle as well as financial offerings. With the help of this SBI effort, users may get solutions for 14 other lifestyle categories in addition to banking services. State Bank of India has partnerships with sixty e-commerce companies, such as Amazon, Flipkart, Ola, Yatra, and others. Cox & Kings, Thomas Cook, and Shoppers Stop are the main offline players who have partnered with SBI.

Importance of the YONO SBI app

YONO (You Only Need One). It was one-stop app for all of your banking, investing, insurance, and for daily shopping requirements is SBI’s YONO. The State Bank of India launched YONO, an innovative digital project, to put a variety of goods and services at consumers’ fingertips.

It consists of multi-channel software that offers consumers a smooth experience. With just one app, booking taxis, hotel tables, travel and accommodations, medical needs, shopping, entertainment, and other things is now simpler. Predictive analysis, machine learning, and artificial intelligence were used in the development of this software. This app is now accessible on the iOS as well as Android operating systems.

To obtain a reference number and then a dynamic PIN in order to withdraw cash, the YONO user only has to log into the YONO platform and then utilize the YONO Cash function. After that, the customer can utilize the same to finish the transaction and get the cash through any of the available channels, such as a POS terminal, ATM, or CSP.

Functionalities and smart features of YONO SBI

  • Create an SBI instant account at home if you don't already have one. Using the YONO app, create a digital account by entering your PAN card number along with your Aadhar number.
  • Current clients can sign up and log directly into YONO using their SBI Internet Banking credentials for login. The debit card may be used to quickly and simply produce Internet Banking services if the current client hasn't already.
  • Users of the YONO app may easily examine and compare various insurance plans within the site, saving them from having to visit the service provider. On a mobile device, consumers may easily access and buy investment items with only a few clicks!
  • Users of YONO receive a discount on bank service fees.
  • Using YONO to go paperless also saves time, which is a wise choice.
  • The biggest shopping market, YONO unites top e-commerce vendors on one platform. Customers of SBI are eligible for special discounts and can shop via YONO.
  • YONO's user interface is straightforward. The software is user-friendly due to its simple features as well as easy navigation.
  • Users that have UPI enabled will benefit from rapid and easy financial transfers.
  • Without requiring any paperwork, users may obtain pre-approved personal loans worth up to 1 lakh in only two minutes. There is a maximum pre-approved loan value of one lakh.
  • With just a few clicks, take advantage of the fixed deposit overdraft facility.
  • Over a dozen applications and their features are integrated into YONO, making it the largest app store.

SBI releases updates for the app to address issues and enhance its functionality. Enjoy the integrated services and features of the SBI YONO app and gain its finest advantages. SBI YONO is a digital banking revolution and the app is for the future.

  1. It is Practical: Customers may use it for withdrawing cash from POS terminals, ATMs, or CSPs even though they just have their phones with them and have left their wallets at home. The ATM withdrawal is not included in the YONO Cash transactions.
  2. It is not harmful to the environment: Complete eradication of plastic cards.
  3. It is secure: It is secure because it removes the majority of the hazards that come with physical cards, such as the possibility of misplaced cards or pins, card skimming, card entrapment, and shoulder surfing. Every transaction generates a unique PIN in real time.

Conclusion

YONO Cash, a special feature of the YONO platform (accessible on the App and the website), was introduced on March 16, 2019. It allows an account holder for making immediate cash withdrawals through any SBI ATM, as well as from the majority of SBI Merchant's POS terminals and Customer Service Points (CSPs) across India, regardless of the need for a physical card or withdrawal form.