How To Open SBI Recurring Deposit (RD) Account Using YONO SBI

You can now open a Recurring Deposit (RD) account on SBI from your phone from anywhere at any time. This will allow you to create a deposit account, save a fixed amount of money every month, and earn interest on it.

State Bank of India (SBI) has made it easier to open an RD account from your mobile through the SBI Yono app.

In this article, you will get to know the following points on how to create a Recurring Deposit (RD) account on the SBI Yono app,

Details required
Steps to open a Recurring deposit (RD) account on Yono SBI app

Let’s see each of these points in detail.

Details required to open a SBI recurring deposit account on Yono SBI

You will need to download the Yono SBI app to create a Recurring Deposit account through the app. You also need your Internet Banking details and your registered mobile number to log into the app.

In case you have forgotten your Internet Banking details, you can find your username and reset your password online.

Steps to open a SBI Recurring Deposit (RD) account on Yono SBI

To open a Recurring Deposit (RD) account in Yono SBI online,

Step 1: Open the ‘Yono SBI’ App

Download the Yono app from the Play Store or App Store.
Log in to the app using your Internet Banking Username and Password or MPIN.
The dashboard will open up.

(Link to download the app)

Step 2: Open the ‘Recurring Deposit’ option

The recurring deposit option on Yono SBI — The ‘Recurring Deposits’ option on Yono SBI

Next, tap on the ‘Deposit’ option.
A new page will open.
Next, tap on the ‘Recurring Deposits’ option.

Step 3: Enter the amount

Next, tap on the ‘Start New Recurring Deposit’ option.
Next, enter ‘How much would you like to contribute monthly’ in the specified field.
Next, select the ‘Savings A/c’ from which you want the amount to be debited.
Next, tap on the ‘Next’ button.
A new page will open.

Step 4: Select the duration

Set Recurring Deposit duration on Yono SBI — The Set Recurring Deposit duration page

Next, choose the duration of your RD by selecting the year and month in the ‘Select Year’ and ‘Select Month’ options.
Next, select when you want the amount to be deposited under the ‘Schedule a monthly transfer’ option.
Next, tap on the ‘Next’ button.
You can also check interest rates by clicking on the ‘View Interest Rates.’

Step 5: Create the recurring deposit account

The entered details will be displayed.
You can also add your nominee details if you want.
Next, tick the ‘Terms and Conditions’ box.
Next, tap on the ‘Confirm’ button.

The Recurring Deposit will be successfully created in YONO SBI.

By following these steps, you can easily create an RD account online and start investing through the Yono SBI app.

You can also create a Fixed Deposit or set a Standing Instruction (SI) using the app.

Another way to open a Recurring Deposit account on SBI is through the Net Banking Portal.

Click to know the steps to open RD account through OnlineSBI.