According to The Hindu BusinessLine, the proposed loan offering is aimed at providing relief to the salaried customers of SBI who are facing cash-flow problems due to COVID-19.
YONO has four offerings – products (personal loans, home loans, car loans, YONO Krishi, and fixed deposits); services (account opening, YONO cash, funds transfer, bill pay, recharge, and tax payment); financial superstore (life and general insurance, cards, mutual funds, and other investments); and online marketplace (book tickets, shop, etc).
In its third quarter presentation, SBI said that 63% of savings accounts are opened through YONO (digital onboarding).
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