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Lower Circuit & Upper Circuit of Stocks – How to Buy & Sell Shares during Lower Circuit or Upper Circuit?

Stock Market

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January 6, 2025

If you’re stepping into the fascinating world of stock markets, chances are you’ve heard the terms “Lower Circuit” and “Upper Circuit” being tossed around. These terms sound technical, right? But don’t worry; they’re actually pretty straightforward. In this article, we’ll break down these concepts into bite-sized pieces, explain how they work, and even walk you through buying or selling shares when these circuits are in play. Ready? Let’s dive in!

What is an Upper Circuit?

Imagine the stock market as a lively marketplace. Every stock here has a price range it can move within on any given day. The “Upper Circuit” is the maximum limit a stock’s price can climb during the day. Think of it like a speed limit for a car; it’s designed to keep things from going too fast.

When a stock hits its upper circuit, trading for that stock becomes super restricted. Why? It’s usually because there’s a lot of buying interest and hardly any sellers. In simpler terms, everyone wants in, but nobody wants out. This pushes the price to its maximum allowable level for the day.

What is a Lower Circuit?

Now, let’s flip the coin. The “Lower Circuit” is the exact opposite—it’s the lowest price a stock can fall to in a single trading session. Picture a bungee jumper who can only go so far down before the cord snaps them back. A stock hitting the lower circuit indicates panic-selling—lots of people want to get out, but buyers? They’re nowhere to be found.

When a stock touches its lower circuit, it’s often a red flag for investors. However, it doesn’t always mean doom; sometimes it’s a reaction to news, market trends, or just a temporary blip.

Why Do Circuits Exist?

Good question! Circuits exist to keep the market stable and protect investors. Without these limits, the stock prices could swing wildly due to speculation, manipulation, or herd mentality. Imagine a roller coaster ride with no safety harness—exciting but extremely risky.

Stock exchanges set these limits as a form of damage control. By capping how much a stock can move in a day, circuits give investors time to digest information and make rational decisions. In other words, they prevent chaos.

How Do Circuit Limits Work?

Circuit limits are typically set as percentages of a stock’s previous closing price. Here’s how it works:

Daily Circuit Limits: These can range between 2%, 5%, 10%, or even 20% depending on the stock and the exchange’s rules.
Index Circuit Breakers: For broader market indices (like the Nifty or Sensex), circuit breakers halt all trading if the index moves beyond a set percentage (say 10%) within a specific time frame.

For example, if a stock closed yesterday at ₹100 and has a 10% circuit limit, it can’t trade below ₹90 (lower circuit) or above ₹110 (upper circuit) today.

How to Buy Shares During an Upper Circuit

Buying shares during an upper circuit can feel like chasing a unicorn. Why? Because when a stock hits its upper circuit, demand far outweighs supply. There are tons of buyers but almost no sellers.

Here’s how you can try:

Place a Pre-Market Order: Be the early bird. Place your buy order during the pre-market session at the upper circuit price.
Limit Order: Set your buy order as a “limit order” at the exact upper circuit price. Market orders won’t work here since sellers are scarce.
Be Patient: Even with a limit order, there’s no guarantee your order will be fulfilled. You’ll be in a queue, and only if someone decides to sell will your turn come.

How to Sell Shares During an Upper Circuit

Selling during an upper circuit is a breeze because buyers are lining up. Just place your sell order at the upper circuit price, and voila! It’s like selling lemonade on a scorching day—easy peasy.

However, before selling, consider why the stock is in an upper circuit. If it’s due to strong fundamentals or good news, holding onto it might be more rewarding.

How to Buy Shares During a Lower Circuit

Buying during a lower circuit is tricky because the market sentiment is usually negative. Most investors are panicking, and buyers are rare.

Limit Order: Place a limit order at the lower circuit price. Again, market orders won’t work because there are no sellers above the lower circuit price.
Research: Understand why the stock is falling. Is it a temporary issue or something more serious? Don’t just buy because the price looks cheap.
Stay Cautious: Catching a falling knife can hurt. Lower circuit stocks often fall further, so don’t rush in without a clear plan.

How to Sell Shares During a Lower Circuit

Selling during a lower circuit is like trying to sell ice cream in a snowstorm. There are no buyers, so your sell order might just sit there, unfulfilled.

To improve your chances:

Pre-Market Order: Place a sell order during the pre-market session.
Limit Order: Set your sell order at the exact lower circuit price.
Monitor Closely: If your order doesn’t execute, keep an eye on the stock throughout the day. Sometimes, buyers might reappear later.

Risks of Trading in Circuit Stocks

Trading in stocks that frequently hit upper or lower circuits is not for the faint-hearted. Here’s why:

Liquidity Issues: Limited buyers or sellers make it hard to execute trades.
Price Volatility: Prices can swing dramatically, leading to unexpected losses.
Manipulation Risks: Low-volume stocks are often targets for price manipulation.

Always do your homework and avoid putting all your eggs in one basket. Diversification is your best friend in the stock market.

FAQs

1. Can a stock hit multiple circuits in a day?

No, a stock can hit only one circuit (upper or lower) in a single trading session. Once it hits the limit, trading in that direction is restricted.

2. How are circuit limits decided?

Circuit limits are set by stock exchanges based on factors like volatility, stock liquidity, and market regulations.

3. Should I buy a stock in the upper circuit?

It depends. Upper circuit stocks often indicate strong demand, but buying them without research could be risky. Ensure the stock has solid fundamentals before jumping in.

4. Can circuits affect mutual funds?

Yes, if a mutual fund holds stocks that hit upper or lower circuits, the fund’s performance could be impacted. However, mutual funds are diversified, so the risk is spread out.

5. What happens if an index hits its circuit limit?

If an index like Nifty or Sensex hits its circuit limit, trading is halted for a specific duration across the entire market. This gives investors time to assess the situation and prevent panic.

Final Thoughts

Lower and upper circuits might sound intimidating at first, but they’re just tools to keep the stock market in check. Whether you’re buying or selling, the key is to stay informed, act strategically, and never let emotions take over. After all, the stock market isn’t a sprint; it’s a marathon. Play the long game, and you’ll come out ahead.

Form 26AS – Why you should check before Filing Income Tax Return?

Incometax

Shitanshu Kapadia

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January 3, 2025

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Filing your income tax return (ITR) can feel like tackling a complex puzzle, especially if you’re not a numbers person. One of the most overlooked yet essential pieces of this puzzle is your Form 26AS. Ever heard of it? If not, don’t sweat it! This guide will break it down in plain English, so you can approach tax season like a pro.

What Is Form 26AS, Anyway?

Think of Form 26AS as your tax credit statement. It’s like a report card for your taxes, detailing all the taxes deducted on your behalf, whether by your employer, bank, or even a tenant if you’re renting out a property. It also includes information on advance taxes you’ve paid or any refunds you’ve received. This document is a centralized summary of all your tax-related transactions, and it’s maintained by the Income Tax Department of India.

Now, why does this matter? Simply put, if you want to avoid mistakes and unnecessary delays in processing your tax return, you’ll want to cross-check your ITR with this form.

Why Should You Check Form 26AS Before Filing?

Skipping this step is like driving blindfolded. You might think you know where you’re headed, but chances are you’ll end up making errors. Here are the key reasons why checking Form 26AS is a non-negotiable:

Verify TDS Deductions: Your employer or other deductors might have deducted tax at source (TDS) and deposited it with the government. Form 26AS helps confirm if the right amounts are credited to your account.
Match Income Details: It ensures that all income, especially those subject to TDS, matches the information you’re reporting in your ITR.
Avoid Double Taxation: If you’ve paid advance taxes or self-assessment taxes, this form confirms they’ve been accounted for correctly.
Spot Discrepancies Early: Any mismatch between your records and Form 26AS could lead to notices from the tax department. Better to fix issues upfront than deal with headaches later.
Claim Refunds Faster: Correct details = faster processing = quicker refunds. Enough said!

How to Access Form 26AS

Getting your hands on Form 26AS is super easy. You can do it online, and here’s how:

Via the Income Tax Portal:
- Log in to the official Income Tax e-filing portal (www.incometax.gov.in).
- Navigate to the “View Form 26AS” section under the “e-File” menu.
- Click on the link that redirects you to the TRACES website.
- View or download your Form 26AS for the relevant financial year.
Through Your Net Banking Account:
- Many banks offer direct access to Form 26AS if you’re a registered net banking user.
- Look for the “Tax Services” section in your account dashboard.

How to Decode Form 26AS

At first glance, Form 26AS might seem like it’s written in a secret code. But don’t worry—here’s a quick breakdown of what you’ll find:

Part A – Details of Tax Deducted at Source (TDS): This section shows TDS deducted by various deductors like employers, banks, or tenants. Double-check these amounts against your salary slips or bank statements.
Part B – Details of Tax Collected at Source (TCS): If you’ve made big-ticket purchases (like a car or expensive jewelry), the seller might have collected tax. You’ll find those details here.
Part C – Details of Tax Paid: Contains information on advance tax and self-assessment tax you’ve paid.
Part D – Refund Details: Any refunds issued by the IT department? You’ll find them here.
Part E – SFT Transactions: This part records specified financial transactions like high-value deposits or investments. Make sure nothing’s missing or incorrect.

Common Issues to Watch Out For

Form 26AS isn’t immune to errors. Here are some common hiccups and how to handle them:

TDS Not Reflecting: Sometimes, deductors might delay filing their returns, causing a mismatch. Contact them and ask them to correct the issue.
Incorrect PAN: If your PAN is misquoted, the taxes won’t show up under your account. Cross-check with your deductor.
Unrecorded Transactions: Ensure that all your income and taxes paid are recorded. If not, flag it immediately.
Mismatch in Amounts: Even minor discrepancies can lead to problems. Verify every entry thoroughly.

Pro Tips for a Hassle-Free Tax Filing

Start Early: Don’t wait until the last minute to download Form 26AS. Doing it early gives you time to resolve discrepancies.
Reconcile Regularly: If you’re self-employed or have multiple income sources, reconcile your books with Form 26AS every quarter.
Keep Documentation Handy: Match your Form 16, bank statements, and other financial documents with Form 26AS for accuracy.
Use Reliable Tax Software: Many online platforms automatically pull data from Form 26AS, simplifying the filing process.
Seek Professional Help: When in doubt, consult a tax professional. They can guide you through the process and ensure everything checks out.

What Happens If You Ignore Form 26AS?

Let’s put it this way: ignoring Form 26AS is like skipping the pre-flight check on an airplane. Sure, you might get lucky, but why risk it? Mistakes in your ITR can lead to notices, penalties, or even rejections. Plus, you could miss out on claiming rightful refunds. Not worth the gamble, right?

Conclusion

Form 26AS is your best friend during tax season. It’s the key to ensuring your tax return is accurate, hassle-free, and processed quickly. By taking a few extra minutes to download and cross-check this document, you’ll save yourself a ton of potential headaches. So, don’t overlook this vital step. Happy filing!

FAQs

1. Can I file my ITR without checking Form 26AS?

Technically, yes, but it’s not recommended. You risk making errors that could lead to penalties or delays.

2. What should I do if there’s a discrepancy in Form 26AS?

Contact the deductor immediately and ask them to revise their TDS filings. You can also raise a grievance on the Income Tax portal.

3. How often is Form 26AS updated?

It’s updated whenever a deductor files their TDS returns or you make a tax payment. Regularly check for updates, especially close to the filing deadline.

4. Is Form 26AS applicable to all taxpayers?

Yes, it’s relevant for all taxpayers, whether you’re salaried, self-employed, or retired.

5. Can I access Form 26AS for previous years?

Absolutely! You can view or download Form 26AS for multiple financial years on the Income Tax portal.

iMobile App by ICICI- Key Features, Usage, Benefits

Banking

Shitanshu Kapadia

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January 2, 2025

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In today’s fast-paced digital world, mobile banking apps have become a game-changer. They’re like having a mini bank right in your pocket! One app that stands out from the crowd is iMobile by ICICI Bank. If you’ve ever wondered what makes this app so popular, buckle up. We’re about to dive deep into its features, usage, and benefits. Trust me, by the end of this article, you’ll wonder how you ever lived without it.

What Is iMobile App?

Let’s start with the basics. iMobile is ICICI Bank’s flagship mobile banking application. ICICI Bank has invested considerable time and resources in delivering exceptional Mobile Banking services to its customers. This app is your one-stop solution for almost all banking needs. Whether it’s transferring money, paying bills, or checking your account balance, iMobile has you covered. The app is sleek, user-friendly, and packed with powerful features that make banking on the go a breeze.

Key Features of iMobile ICICI

So, what exactly sets iMobile apart from other banking apps? Here are some standout features:

All-in-One Dashboard

Ever felt overwhelmed switching between apps for different financial tasks? With iMobile, you get an all-in-one dashboard that consolidates your accounts, credit cards, investments, and loans. Everything is just a tap away.

Fund Transfers Made Easy

Whether it’s NEFT, RTGS, or IMPS, iMobile supports it all. Need to send money instantly? Use UPI (Unified Payments Interface) for seamless transfers. Bonus: You can even transfer funds to non-ICICI Bank accounts.

Bill Payments and Recharges

No one likes late fees. With iMobile, you can pay utility bills, recharge your mobile or DTH, and even settle credit card dues in minutes. Set up auto-pay and forget about due dates forever!

Cardless Cash Withdrawal

Forgot your wallet? No worries. iMobile lets you withdraw cash from ICICI ATMs without needing a physical debit card. Simply generate a code through the app and use it at the ATM.

Loans on the Go

Dreaming of that new car or need funds for an emergency? Apply for personal loans, car loans, or even a top-up on your existing loan directly through the app. You’ll get pre-approved offers in seconds.

Investment Options

Planning for the future? iMobile allows you to invest in mutual funds, open fixed or recurring deposits, and even buy insurance policies. All this without visiting a branch.

Voice Banking

Yep, you read that right. iMobile supports voice commands. Just ask, “What’s my account balance?” and the app will fetch it for you.

Secured with Biometrics

Security is non-negotiable. iMobile employs biometric authentication like fingerprint and facial recognition to ensure your data is safe.

How to Register at the iMobile App by ICICI Bank?

To use the ICICI Mobile Banking App, you need to first register your mobile number with ICICI Bank. If you’re prepared to begin using iMobile, simply adhere to the three straightforward steps provided below.

You can download the iMobile – ICICI Mobile Banking App from the Apple App Store or the Google Play Store. Alternatively, you can obtain the app by texting “iMobile” to the number 5676766.

Once you have installed the iMobile app on your device, you must activate it by logging in and confirming your mobile phone number. Next, you will be asked to set up a 4-digit personal identification number (PIN) that you will require each time you attempt to use your iMobile app.

To access all functionalities of the iMobile app, you need to log in first. Users will be asked for a one-time grid card authentication for the first time (utilizing a debit card connected to the account).

How to use iMobile App by ICICI Bank?

Just sign up for the service with your bank and then download the ICICI Bank App (iMobile) from the Google Play Store or the Apple App Store.
Next, input your login details into the iMobile application. Fingerprint or PIN can be enabled for extra features. Once logged in, you can view your savings portfolio and account balance on the dashboard. You can get Account statements and manage your debit card statement also.
To send money to someone click on the ‘Send Money’ option. You can search or Add a payee. You can transfer or schedule payment also.
Choose “Bill Pay/Recharge/FasTag” to settle your postpaid mobile bill, Credit Card bill, DTH Recharge, Electricity bill payment, or other related services. You can also add bill reminders in the same section.
To check your deposits and savings account details, select “Accounts & FD/RD” option.
For Credit Cards and Forex select the “Cards /Forex” option.
To check and apply for a Loan visit the “Loans” Section.
To make UPI payment click on the “UPI Payments” menu.
To make changes to your profile, Account services, or Cardless Cash Withdrawal choose “Services” from the menu.
For investment in FD, RD, Mutual Funds, PPF, NPS or Gold Bonds visit the “Invest” Tab.
For Home Loans, Personal Loans, Auto Loans, Education Loans, and Insurance visit the “Loans & More” Tab.

Benefits of Using iMobile ICICI

Now that you know what iMobile offers, let’s talk about why it’s a must-have.

Convenience at Your Fingertips

Banking from the comfort of your home? Yes, please! With iMobile, you can perform over 200 banking transactions without stepping out.

Time-Saving

Say goodbye to long queues and paperwork. Whether it’s transferring funds or applying for a loan, iMobile saves you precious time.

24/7 Access

Banks have operating hours; iMobile doesn’t. Access your account anytime, anywhere – even at midnight.

Customizable Alerts

Stay updated with SMS and email alerts for every transaction. You’re always in the loop.

Enhanced Security

With advanced encryption and biometric features, your financial data is in safe hands.

Eco-Friendly Banking

Less paperwork means a smaller carbon footprint. Switching to iMobile is a small step towards saving the planet.

Why Choose iMobile Over Other Apps?

Let’s face it; there are plenty of banking apps out there. But iMobile isn’t just another app – it’s an experience. Here’s why it stands out:

Comprehensive Services: From loans to investments, it’s a one-stop solution.
User-Friendly Interface: Even tech newbies can navigate it effortlessly.
Exclusive ICICI Features: Get personalized offers and deals tailored just for ICICI Bank customers.

Common Challenges and How to Overcome Them

Login Issues

Sometimes users face login problems. Ensure your app is updated and your internet connection is stable. If the issue persists, contact ICICI’s customer support.

Forgotten PINs

Forgot your PIN? No biggie. Use the “Forgot PIN” option to reset it.

App Crashes

Occasional glitches happen. Clear the app’s cache or reinstall it to fix the issue.

Conclusion

In summary, iMobile ICICI is more than just a banking application – it’s an enhancement for your lifestyle. By streamlining routine banking activities and providing excellent security along with cutting-edge features, it aims to make your financial life effortless. No matter if you’re a busy professional, a student, or a person handling a family budget, iMobile offers options for all.

So, what is holding you back? Get iMobile now and enjoy banking in a whole new way. Believe me; you won’t regret it.

FAQs

Q1: Is iMobile ICICI free to use?

Yes, iMobile is free to download and use. However, standard internet and transaction charges may apply.

Q2: Can I use iMobile without being an ICICI customer?

Unfortunately, no. You need an ICICI Bank account to register and use the app.

Q3: What happens if I lose my phone?

Don’t panic. Contact ICICI customer support to deactivate the app. Always set up biometric or PIN-based authentication for added security.

Q4: Can I use iMobile outside India?

Absolutely! As long as you have an internet connection, you can access the app from anywhere in the world.

Q5: Is iMobile safe?

Yes, iMobile employs advanced security measures like encryption and biometric authentication to protect your data.

SBI YONO App – Key Features, Usage, and Benefits

Banking

Shitanshu Kapadia

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January 1, 2025

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If you appreciate convenience, technology, and smooth banking solutions, you’ve likely come across the SBI YONO app. But if not, don’t worry — you’re in for a treat. YONO, which stands for “You Only Need One,” is the State Bank of India’s flagship mobile banking app. It’s essentially a one-stop solution for all your financial needs, and then some. Ready to dive into what makes this app a must-have? Let’s break it down.

What Is SBI YONO?

Consider YONO to be your all-in-one banking tool. It’s an application created to ease your life by bringing together banking, lifestyle, and financial services into one platform. SBI created YONO to simplify banking, making it quicker and more accessible for all users — whether you’re handling your savings, shopping online, or seeking a loan.

Available on both Android and iOS platforms, the app is packed with features that cater to users of all ages and financial backgrounds. It’s not just a banking app; it’s a gateway to smarter financial management.

Key Features of SBI YONO

Let’s talk about what makes this app a game-changer. Here are the standout features:

Seamless Account Access

With YONO, you can access all your SBI accounts from one place. Whether it’s your savings, current, or loan account, everything is just a tap away. No more logging into different platforms or remembering multiple passwords.

One-Click Banking

The app offers a streamlined interface for everyday banking tasks. Need to check your balance? Done. Want to transfer funds? Easy. Looking to pay bills? Sorted. It’s as simple as a few taps on your screen.

YONO Cash

This feature is a lifesaver when you forget your debit card. YONO Cash allows you to withdraw money from ATMs without needing a physical card. Just generate a cash withdrawal request through the app, and you’re good to go.

Personalized Recommendations

YONO goes beyond basic banking by offering personalized product and service recommendations based on your spending patterns. It’s like having a financial advisor in your pocket.

Loan and Investment Options

Dreaming of a new car or planning for your child’s education? With YONO, you can apply for personal loans, car loans, or even start investments in mutual funds without stepping into a bank.

Shopping and Offers

Here’s where it gets even better. YONO doubles as a lifestyle app, letting you shop from partner merchants and avail exclusive deals and discounts. From groceries to electronics, it’s all there.

Paperless Onboarding

Want to open a new account? Forget the hassle of paperwork. YONO offers a 100% digital onboarding process, making it easy for new customers to join SBI.

Expense Tracking

Stay on top of your finances with YONO’s built-in expense tracking tool. It categorizes your spending and provides insights to help you manage your money better.

YONO Pay

Use YONO Pay for UPI transactions, quick fund transfers, or splitting bills with friends. It’s fast, secure, and incredibly user-friendly.

Prerequisites for YONO Registration

Let’s make sure you’ve got all your ducks in a row before jumping in. Here’s what you’ll need:

An Active SBI Account: The app works only if you’re already an SBI customer.
Registered Mobile Number: This should be the number linked to your SBI account.
Debit Card Details: Handy for verification purposes.
A Stable Internet Connection: Don’t let poor connectivity rain on your parade.
The SBI YONO App: Download it from Google Play Store or Apple App Store.

How to Register & Use SBI YONO App

If you’re new to the app, getting started is straightforward. Here’s a quick guide:

Download and Register

Head to the Google Play Store or Apple App Store.
Download the SBI YONO app.
Open the app and register using your account details and mobile number linked to your SBI account.
If you’re registering for the first time, tap on the “Register Now” option. This will kickstart the registration process.
Select SIM which is registered with the SBI bank account. SMS will be sent for mobile number verification.
Enter the Account Number and Date of Birth. Click on the Submit Button.
Enter SBI Netbanking Username and Password for authentication.
SBI will send a One-Time Password (OTP) to your registered mobile number. Enter the OTP in the app to verify your identity.

Set Up Your Profile

Create a unique MPIN for secure access.
Link your accounts to view them all in one place.

Explore the Dashboard

Once logged in, you’ll see a clean dashboard with all the main features.
Navigate through banking, shopping, and investment options easily.

Start Banking

Use the app for transactions, bill payments, or even applying for loans.
The intuitive interface makes it super simple.

Sometimes SBI YONO App gives a Technical Error. In case you are frequently facing the issue you can contact the branch office. Alternatively, you can also use the SBI YONO Lite App.

How do you add a beneficiary for payment transfer in the SBI YONO App?

Open the YONO app and log in.
Click on “Yono Pay” and Select “Profile Management“.
Click on “Add/Manage Beneficiary” and then enter your SBI Internet Banking Profile Password.
Click on the “Submit” button.
Now, choose the way you want to pay the beneficiary.
Click on “Account Number” and then on “Next” button.
Select the Bank Account and click on “Submit account details”.
Click on “Next“.
Pay Rs 1 to add the beneficiary and submit remarks.
Click on “Pay” and then on “Confirm”.
Enter the “One Time Password (OTP)” received on your registered mobile number and click “Next“.

Benefits of Using SBI YONO

So why should you download this app? Let’s break it down:

Convenience

YONO eliminates the need for multiple apps and platforms. Whether you’re shopping, investing, or managing your finances, it’s all in one place.

Time-Saving

Gone are the days of waiting in long bank queues. With YONO, you can perform most banking tasks from the comfort of your home.

Cost-Effective

The app offers exclusive discounts and deals through its partner merchants. Plus, you save on travel and other costs associated with visiting a branch.

Secure Transactions

YONO employs advanced encryption and security measures to ensure your data and transactions are safe.

Accessibility

The app is designed to be user-friendly, even for those who aren’t tech-savvy. Plus, it supports multiple languages for a broader reach.

Eco-Friendly

By going digital, you’re cutting down on paperwork, which is a win for the environment.

Advanced encryption security

The YONO app uses advanced encryption security that have multiple security layers, including biometric login, a unique 6-digit MPIN, and advanced encryption.

UPI, bills, and auto payments set up

You get the option to do UPI payments, pay bills, and set up auto payments with Yono app.

How to reset my YONO username and password?

To reset YONO username and password follow the below steps.

Open onlinesbi.sbi on your browser.
Click on ‘Login’ inside the ‘Personal Banking’ box.
Click on ‘Continue to Login’.
Click on ‘Forgot Username/Login Password’ option.
Select “Forgot My Login Password” from the dropdown option.
Click on “Next”.
Enter details that includes your “Username”, “Account number”, “Country”, “Mobile Number”, “Date on Birth” and “Captcha”.
Click on “Submit” button.
Enter the “One Time Password (OTP)” and click on “Confirm”.
Choose the way you want to reset your password, your card details or your profile password.
If you choose “reset by using your profile password”, then enter your profile password.
Again, click on ‘Submit’ button.
Enter your new login password and then, re-enter to confirm that.
Click on ‘Submit’.

How to change the YONO SBI password?

The steps to change SBI YONO password is given below.

Open onlinesbi.com on your browser and click on “Forgot login password”.
Click on the “Next” button, in the pop up window.
Provide the information that include your username, account number, country, mobile number, date of birth and the captcha code.
Click on “Submit”.
Confirm by entering the one time password (OTP) that you received on your registered mobile number.
Enter your “new password” and click on the “Submit” button.

How to change MPIN in the SBI YONO App?

MPIN refers to Mobile Personal Identification Number and is a code consisting of 4 or 6 digits that must be entered to access the app or prior to completing a transaction on banking and payment applications. MPIN serves as a method of authentication for processing payments, making it essential to update it monthly or quarterly.

To change MPIN for SBI YONO follow the below given steps in the same order.

Login to the YONO app using your MPIN or User ID and Password.
Choose “Service Requests” from the Menu or simply go to Quick links and click on “Service Request”.
Select “Manage PIN” and choose “Change MPIN”.
Enter your Net Banking Profile Password.
Click on the “Confirm” button.
Now, enter you current MPIN.
Enter the “New MPIN” and click on Confirm.

Your SBI YONO MPIN is now changed and you have to use the new MPIN for login to the App or make the transactions.

Tips for Maximizing Your YONO Experience

Update Regularly Keep your app updated to enjoy the latest features and security improvements.
Enable Notifications Stay informed about new offers, account activity, and updates by turning on notifications.
Explore All Features Don’t just stick to basic banking. Dive into the shopping, investment, and financial planning tools.
Secure Your App Use a strong MPIN and avoid using public Wi-Fi for transactions to keep your account safe.

Final Thoughts

The SBI YONO app is a brilliant blend of innovation, convenience, and security. It’s more than just a banking app; it’s a lifestyle companion designed to simplify your day-to-day tasks. Whether you’re a tech enthusiast or someone who prefers simplicity, YONO caters to everyone. So, why wait? Download the app today and experience a smarter way to bank.

FAQs

Is the SBI YONO app free to use?

Yes, the app is completely free to download and use. However, standard charges may apply for certain transactions, depending on your bank’s policies.

Can I use YONO without an SBI account?

No, you need an SBI account to access the full features of the YONO app.

Is YONO Cash secure?

Absolutely. YONO Cash uses unique transaction codes and PINs to ensure secure cardless withdrawals.

Can I link multiple SBI accounts to YONO?

Yes, you can link all your SBI accounts to manage them from a single dashboard.

Ready to make your banking experience effortless? Give YONO a try and see the difference it makes!