SBI Kiosk Banking - 2018-2019 StudyChaCha

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Old May 8th, 2017, 05:58 PM
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Default SBI Kiosk Banking

I want to know the Services offered by the State Bank Of India SBI Kiosk Banking so can you please tell me?
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Old May 8th, 2017, 06:09 PM
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Default Re: SBI Kiosk Banking

Oxigen made a foray into the much needed Financial Inclusion sector with India's largest bank, State Bank of India in 2011.

Through this partnership Oxigen delivers mainstream financial services to the bank-excluded masses of India using remote- biometric enabled Technology for Kiosk Banking.

SBI Kiosk transactions are bio-metrically secured. Printed acknowledgment for each transaction is issued to the customer and has end-to-end process of account opening & online transactions.

Micro savings and Micro remittances are done through No Frills Savings Bank Accounts at Oxigen CSP Kiosks.


The SBI Kiosk banking will provide the following services:

Deposit of Cash

Withdrawal of Cash

Money transfer to another SBI/BC account holder in other locations

Loan disbursement (This Service is yet to start)

Current limit of Rs 10,000 per day per bank account holder

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 a 'No Frill SBI Accounts' -A No-frills account is a paperless account with:

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

Maximum balance can be Rs 50000. (Balances above this can be held, but then account is converted to a regular bank account and the terms of the bank and documentations will apply to these accounts).

Maximum limit of transactions is Rs10,000/- per day.

No Cheque book is issued

Only the concerned account holders can do the cash transactions.

As defined by the word "NO FRILL", there is no need to fill forms and sign. Electronic thumb impression is used on biometrics to access/use the account.

No charges levied to operate account.

Other Benefits include:

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)

Also Oxigen gives a FREE Personal Accident Insurance Policy of Rs. 10,000* for every account holder. * T&C apply.

Long banking hours: As long as the retail outlet is open (usually 8:30 am to 9:00 PM)

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)

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.

For any further queries, email:
Answered By StudyChaCha Member
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