SBI Tiny Bank Accounts
What is SBI TINY?
State Bank of India, with its 16,000+ branches in rural and urban India, and ‘A Little World’ (ALW) are actively involved in producing a mini banking system called ‘SBI Tiny’ reaching beneficiaries at their door step. The SBI Tiny card provides easy banking services for underprivileged communities. For this programme the SBI will tie up with NGOs who will play the role of ‘Customer Service Providers’ (CSP) or rather work like a local branch. The aim of this unique scheme is to cover as many of the poor unbanked population in the country as possible.
The SBI Tiny account does not require `KYC` (or Know Your Client) documents and can be opened with zero balance. In this account one can deposit or withdraw between Rs.10/- to Rs.10,000/- the upper limit for this account is Rs.50,000/-.
The SBI Tiny card provides more accessibility and customer trust, making it easier to build relations with its customers. This card which functions like a normal savings bank account, helps to enhance savings behavior. It also offers easy “Money Transfer Service” to anywhere in India