State Bank Of India Kiosk Banking CSP

Oxigen made a foray into the much needed Financial Inclusion sector with India's largest bank, State Bank of India in 2011. Through this partnership Oxigen delivers mainstream financial services to the bank-excluded masses of India using remote- biometric enabled Technology for Kiosk Banking. Oxigen Retailers are being appointed as Business Correspondents to State Bank of India for carrying out banking transactions on behalf of SBI. This technology is powered by Oxigen. It is an Internet enabled PC based technology and extremely easy to use. Therefore anyone can become a Business Correspondents (BC) and open customer accounts at Customer Service Point Kiosk outlet (CSP). SBI Kiosk transactions are bio-metrically secured. Printed acknowledgment for each transaction is issued to the customer and has end-to-end process of account opening & online transactions. Micro savings and Micro remittances are done through No Frills Savings Bank Accounts at Oxigen CSP Kiosks. Oxigen Retailers can now be appointed as Customer Service Points for Business Correspondents to State Bank of India and carry out banking transactions on behalf of SBI. Become a CSP/ Business Correspondent for State Bank of India Kiosk Banking and boost-up your earnings. This is a business opportunity to do State Bank of India Kiosk banking in your Retail Outlet. YOU, therefore, become a Mini-Branch of State Bank of India, the country's largest Bank.

Benefits for Retailer

  • New Revenue Stream from Mini-Banking
  • Easy Money Transfer
  • Even an existing SBI account holder can be your customer
  • Significant benefits from Oxigen on other servicesIncreased customer footfall
  • Trusted source for money transfer with a strong brand name SBI

  • Benefits for Customers

    Customers can get zero balance account with:

  • Minimum Balance -No minimum balance is required to be maintained in the account.
  • Maximum balance can be Rs 50000. (Only if customer will provide the KYC within 12 or 24 months maximum, remaining terms and conditions are same).
  • Customer can also open account with zero balance under PMJDY with KYC Limit up to 12 lacs.
  • Maximum limit of transactions is Rs10,000/- per day.
  • No Cheque book is issuedOnly the concerned account holders can do the cash transactions.
  • No charges levied to operate account.
  • Other Benefits include:

  • Home Loans/ Loan Against Property (Feature yet to be updated)
  • Auto Loans/Gold Loans/Small & Medium Enterprise (SME) Loans (Feature yet to be updated)
  • General purpose Credit Card (GCC)/Kisan Credit Card (KCC)
  • No Frill SBI Saving Bank AccountMutual fund on a Referral basis
  • Loans against Term Deposit Receipt (TDR)/ National Saving Certificate (NSC)/Kisan Vikas Patra (KVP)
  • Long banking hours: As long as the retail outlet is open (usually 8:00 am to 8:00 PM)Additionally, access to withdrawal of money through ATM card is provided to every customer above 18 years of age.