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The YONO (You Only Need One) app is an integrated digital banking platform offered by ______ to enable its users to access a variety of financial services.
1. HDFC
2. Punjab National Bank
3. ICICI
4. State Bank of India

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Correct Answer - Option 4 : State Bank of India

The Correct Answer is "State Bank of India".

  • YONO SBI, which literally means You Only Need One.
  • It’s an app by the State Bank of India that provides multiple services in one place.
  • It eliminates the need for multiple apps on our phones.
  • It has made mobile banking easy too with services such as digitally opening a bank account, fund transfers, cashless bill payments, applying and availing loans in real-time.
  • We can even initiate the cash withdrawal process using our smartphones by using this app.
  • We have to set a 6 digit YONO cash pin for withdrawing money from SBI ATMs, designated as YONO cashpoints.
  • Check our account balance, create a fixed deposit and add a beneficiary for fund transfers.
  • Make an immediate fund transfer to a newly added beneficiary up to Rs. 10,000.
  • Link all our SBI entities in one app like credit cards, life insurance, general insurance, travel insurance, accident insurance, SIP, mutual funds, and other investments.
  • Get an overview of your expenses by checking the spend analysis provided by the app that automatically tags and categorizes your expenses.
  • Get pre-approved personal loans up to Rs. 5 lakhs, 24X7 using the app and portal without any documentation.

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