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Stuck in a shopping mall without cash? SBI's YONO app is here to save you: all you need to know

If you are shopping and run out of cash the app enables you to avail apre -approved personal loan without any paperwork.

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YONO will be launched by Finance Minister, Arun Jaitley on November 24 in Delhi.
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State Bank of India will be launching a comprehensive lifestyle and financial services platform called YONO (you need only one) for its customers. 

If you are shopping and run out of cash the app enables you to avail apre -approved personal loan without any paperwork. Besides being a shoppers' paradise it will also undertake a gamut of banking services.

It will be launched by Finance Minister,  Arun Jaitley on November 24 in Delhi. Besides an array of banking and financial services, YONO will also allow customers customers to meet their lifestyle needs across 14 categories including booking & renting cabs, entertainment, dining experience, travel & stay, medical needs and so on. The bank has partnered with over 60 E-commerce players to provide customized offers and discounts to customers. Some of the key e-commerce partners include Amazon, Uber, Ola, Myntra, Jabong, Shoppers Stop, Cox & Kings, Thomas Cook, Yatra, Airbnb, Swiggy and Byjus, among others.

Rajnish Kumar, Chairman, SBI “India is going digital at an unprecedented pace and we at SBI have been taking significant strides in the digital banking space. With the launch of YONO, customers will be able to seamlessly access lifestyle offerings and financial services with a single user id and password. The portal has been designed to offer maximum customer convenience where each journey has been designed with minimum possible clicks with easy to understand descriptions. We believe this app will help us increase engagement with our customers and enhance their banking.

Besides shopping with YONO customers can open an SBI bank account digitally in less than five minutes, transfer funds in just four clicks, avail of pre-approved personal loan sans any paperwoer get overdraft facility against fixed deposit have one view of their banking and financial portfolio of SBI Group companies benefit from intelligent spend analyser and utilise conversational banking guide through ‘Chat bot’.

YONO is born out of a comprehensive digital product from SBI using the world’s latest digital technologies such as Artificial Intelligence, Predictive Analytics and Machine Learning, and can be accessed through a mobile application and web portal. 

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