The SBI Kiosk banking will provide the following services:

 

  •   Money transfer to another SBI/BC account holder in other locations
  •  Deposit of Cash
  •  Withdrawal of Cash
  •  Loan disbursement (This Service is yet to start)
  •  Current limit of Rs 30,000 per day per bank account holder
  •  Social Security Scheme
      1. PMJJBY ( Pradhan Mantri Jeevan Jyoti Bima Yojna )
      2. PMSBY  ( Pradhan Mantri Suraksha Bima Yojna )
      3. APY        ( Atal Pension Yojna )                 

 

Benefits for Retailer

·         New Revenue Stream from Mini-Banking

·         Easy Money Transfer

·         Even an existing SBI account holder can be your customer

·         Significant benefits from Oxigen on other services increased customer footfall

·         Trusted source for money transfer with a strong brand name SBI

 

Benefits for Customers

Customers can get zero balance account with:

·         Minimum Balance -No minimum balance is required to be maintained in the account.

·         Maximum balance can be Rs 50000. (Only if customer will provide the KYC within 12 or 24 months maximum, remaining terms and conditions are same).

·         Customer can also open account with zero balance under PMJDY with KYC Limit up to 12 lacs.

·         Maximum limit of transactions is Rs30,000/- per day.

·         No Cheque book is issuedOnly the concerned account holders can do the cash transactions.

·         No charges levied to operate account.


Other Benefits include:


·         Home Loans/ Loan Against Property (Feature yet to be updated)

·         Auto Loans/Gold Loans/Small & Medium Enterprise (SME) Loans (Feature yet to be updated)

·         General purpose Credit Card (GCC)/Kisan Credit Card (KCC)

·         No Frill SBI Saving Bank Account Mutual fund on a Referral basis

·         Loans against Term Deposit Receipt (TDR)/ National Saving Certificate (NSC)/Kisan Vikas Patra (KVP)

·         Long banking hours: As long as the retail outlet is open (usually 8:00 am to 8:00 PM)Additionally, access to withdrawal of money through ATM card is provided to every customer above 18 years of age.

·         To promote business opportunity through SHG (Self help group)

·         Customer can also make small saving separately through RD remittance facility.

 

 

AADHAAR ENABLED PAYMENT SYSTEM (AEPS)



AEPS is a bank led model which allows online interoperable financial transaction at PoS (Point of Sale / Micro ATM) through the Business Correspondent (BC)/Bank Mitra of any bank using the Aadhaar authentication.

How to get it:

·         Provide KYC (Know Your Customer) information to open a new account

·         Aadhaar Number should be linked with bank a/c

Service Activation:

·         None

·         1-2 minutes post Aadhaar seeding

What is required for Transaction:

·         MicroATM

·         Remember Aadhaar

·         Give Bank name

·         Present self (Aadhaar holder) with Bio-metrics (Finger and/or IRIS)

·         Assisted mode

Transaction Cost:

·         NIL to customer

·         Merchant or BC may get charged or paid based on bank‘s discretion

Disclaimer: The transaction costs are based on available information and may vary based on banks.

Services Offered:

·         Balance Enquiry

·         Cash Withdrawal

·         Cash Deposit

·         Aadhaar to Aadhaar funds transfer

·         Payment Transactions (C2B, C2G Transactions)

Funds Transfer limit:

·         Banks define limit. No limit for RBI.

Disclaimer: The funds transfer limits are based on available information and may vary based on banks.

Service Available from no. of operators:

·         118 banks

·         Interoperable