Customers of India’s largest lender, State Bank of India (SBI), will not be able to use digital services on Friday due to maintenance activities.
“We will undertake maintenance activities between 10:15 pm on May 7, 2021 and 1:45 am on May 8, 2021. During this period, INB / YONO / YONO Lite / UPI services will be unavailable. We regret the inconvenience caused and ask you to support us, â€SBI told Twitter.
Previously, the banking services including Yono, Yono lite, online banking, Unified Payment Interface (UPI), were affected due to the scheduled platform upgrade.
SBI has the largest network with over 22,000 branches and over 57,889 ATMs across the country. As of December 31, 2020, it had 85 million internet banking services and 19 million mobile banking users. The number of UPI users of the bank stood at 135 million at the end of December.
At present, the bank has around 35 million registered users of Yono, the digital lending platform. SBI opened over 1.5 million accounts through YONO during the quarter ended December 2020, with nearly 91% of YONO-eligible savings bank customers having migrated to YONO.
The lender recently reduced its mortgage interest rates to 6.70% for loans up to ₹30 lakh. For the above mortgage loans ₹30 lakh and up ₹75 lakh, the interest rate was set at 6.95%.
For the mortgage above ₹75 lakh, the SBI home loan interest rate will start from 7.05%.
India’s largest commercial bank also announced an additional 0.05 percent interest rate discount on home loans to female clients.
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