State Bank of India (SBI) said that its digital services will be affected due to technical upgradation of its NEFT systems after the closure of business on Saturday. The customers of India’s largest lender will not be able to use NEFT facility on SBI YONO and SBI YONO Lite between 00:01 am and 14:00 pm on Sunday. In a tweet SBI stated: “RBI will be undertaking upgradation of its NEFT systems after the close of business on 22 May, 2021. NEFT services on internet banking, YONO and YONO Lite will not be available between 00:01 am and 14:00 pm on Sunday, 23 May, 2021. RTGS services will be available as usual.”
SBI internet (online) services is unavailable for a particular time period starting from Friday, May 21. In a tweet on Thursday, the bank had said that the maintenance activities will lead to the unavailability of the online services. Informing customers about the same, SBI had appealed: “We request our esteemed customers to bear with us as we strive to provide a better banking experience.”
Earlier on May 7 and 8 too SBI’s online services were affected due to maintenance.
With over 22,000 branches and more than 57,889 ATMs across the country, SBI is the largest lender in India. It had 85 million internet banking and 19 million mobile banking users as on December 31. SBI YONO has over 34.5 million registered users. YONO witnesses 9 million logins per day, the lender earlier mentioned.
SBI has opened over 1.5 million accounts through YONO in the quarter ended December 2020 with nearly 91% of YONO eligible savings bank customers migrated on YONO.
SBI has recently reduced its home loan interest rates to 6.70% for loans up to Rs 30 lakh. For home loans above Rs 30 lakh and up to Rs 75 lakh, the interest rate has been fixed at 6.95%. The big-ticket loans above Rs 75 lacs would get home loans at 7.05%, the bank said.
Customers applying for loans via YONO app will get an additional interest concession of 5 bps. A special 5 bps concession will also be available for women borrowers, the bank said.