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SBI Yono 2.0 will allow to invest in mutual funds and bonds
August 10, 2023
In an effort to bring more customers on board, the State Bank of India (SBI) has set its sights on launching a revamped YONO 2.0 platform and application, which will be accessible to non-SBI customers as well. As per the sources, the revamped YONO 2.0 will function like a marketplace where not just regular SBI users, but also non-customers will be able to avail the banking services, as well as buy products.
As far as the timeline is concerned, it is speculated that the revamped SBI YONO 2.0 will be launched in the next 6 months likely by the end of 2023.
On YONO 2.0 SBI customers and other users will be able to avail of services and products like money transfer, mutual fund, personal loan, foreign remittances even without opening an account with SBI.
Another highlight of the revamped app will be that YONO 2.0 will be completely UPI based, and facilitate payment and receiving of funds through the Unified Payments Interface.
Also, it is considered likely that will allow users to invest in the bond market on the upcoming YONO 2.0 platform.
With YONO 2.0, the bank hopes that it will be able to connect the new generation of customers with the bank.
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