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Yono Lite is a mobile banking application from the State Bank of India. [ 7 ] [ 8 ] Earlier, it was available as "SBI Anywhere Personal" but it was rebranded as "Yono Lite" in 2018, after the introduction of YONO app. [ 9 ] In 2021, Yono Lite saw several updates to protect its users from digital frauds.
One of the main issues relating to joint accounts are rights of survivorship, that is, if one of the joint account holders dies, whether the surviving account holder/s are entitled to the balance of the account. Many husbands and wives open joint bank accounts as a cheap and easy way to avoid probate, and parent-child joint bank account holders ...
The minimum age for opening a bank account is most commonly 18 years. However, in some countries, the minimum age to open a bank account can be 16 years, and accounts may be opened in the name of minors but operated by their parent or guardian. In general, it is unlawful to open an account in a false name.
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [11]
A fixed deposit (FD) is a tenured deposit account provided by banks or non-bank financial institutions which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. The term fixed deposit is most commonly used in India and the ...
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Bank statements for accounts with small transaction volumes, such as investments or savings accounts, may be produced less frequently. Depending on the financial institution, bank statements may also include certain features such as the canceled cheques (or their images) that cleared through the account during the statement period. Paper ...
A recurring deposit is a special kind of term deposit in India that is offered by Indian banks and India Post which helps people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits. [1] [2]