Latest news with #YONO
Mint
02-06-2025
- Business
- Mint
Best personal loan rates this June 2025 – Which bank offers the cheapest option?
As of June, 2025, several Indian banks are providing aspirational applicants with competitive interest rates on personal loans. The focus of these loans is to cater to a diverse range of borrowers. The Reserve Bank of India (RBI's) rate cuts signal a clear shift to an accommodative stance, but personal loan rates still vary from one bank to another. Borrowers might see better offers going ahead, though terms depend on each bank's lending policy. Bank name Interest rate (p.a.) Loan amount range Tenure (years) Processing Fee ICICI Bank 10.85% – 16.65% Up to ₹ 50 lakh 1–6 Up to 2% State Bank of India 10.30% – 15.30% Up to ₹ 35 lakh 1–7 Up to 1.5% HDFC Bank 10.85% – 21.00% Up to ₹ 40 lakh 1–5 Up to ₹ 6,500 Axis Bank 11.25% – 22.00% Up to ₹ 40 lakh 1–7 Up to 2% Kotak Mahindra Bank 10.99% – 16.99% Up to ₹ 35 lakh 1–6 Up to 5% Note: Interest rates and fees are indicative and may vary based on individual profiles and bank policies. Please refer to the official website of the above discussed lenders for accurate and updated information on personal loan interest rates. Therefore, salaried individuals seeking personal loans in June 2025 have several different digital first options and opportunities. ICICI Bank provides quick disbursals and seamless online tools, whereas State Bank of India provides pre-approved loans through its widely used YONO application. This is particularly beneficial for government employees. HDFC Bank on the other hand stands out with flexibility in prepayment and overdraft options. Axis Bank personalises rates based on credit risk and Kotak Bank permits faster approvals in metro cities. Union Bank of India provides interest rates beginning at 8.95% per annum for government employees and 10.85% per annum for general applicants. Furthermore, Bank of Baroda (BoB) provides rates from 11.15% per annum for salaried individuals maintaining salary accounts and having strong credit profiles. Federal Bank's interest rates start from 11.49% per annum for standard personal loans. These institutions offer viable and prudent alternatives for aspirational borrowers seeking favourable loan terms. Note: The interest rates discussed above are indicative and may vary based on credit score, repayment history, and eligibility. Always check the lender's official website for the latest rates and terms. Therefore, to choose the right personal loan, compare interest rates, fees, hidden charges, credit score requirements, terms and associated conditions across banks. Do verify the latest details on official websites to match with your financial goals before applying. Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
Time of India
19-05-2025
- Business
- Time of India
SBI posts record $9.2 billion profit in FY25, driven by digital cohort
State Bank of India (SBI) reported a record profit of around USD 9.2 billion for the fiscal year ending March 2025, making it only the third Indian company—after Reliance Industries and ONGC—to feature in the Global Top 100 ranked by net profit. Despite this remarkable achievement, much of SBI's profits are generated by a relatively small digital cohort, as highlighted by Rajendra Srivastava, considered India's Philip Kotler, in a post on as reported PTI. The bank's exceptional profitability is largely attributed to its strategic shift towards digital banking, particularly through the YONO app. Launched in November 2017, YONO has become a cornerstone of SBI's growth strategy, initially created as a response to rising fintech competition. Today, the app boasts over 74 million registered users, positioning it as one of the largest digital banking platforms in the country. Since its inception, YONO has enabled more than Rs 3.2 lakh crore in loan disbursements and has become a significant contributor to the bank's retail loan book. The app now sees over 10 million daily logins, and approximately 65% of SBI's savings account transactions are conducted through it. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Chemnitz: GEERS sucht 700 Testhörer für Hörgeräte ohne Zuzahlung GEERS Undo However, despite its success, YONO accounts for a small portion of SBI's overall customer base. While the bank services over 500 million accounts, only about 14% (approximately 74 million) are active users of YONO. Srivastava pointed out that this represents a paradox: the bulk of SBI's profits come from a small digital user base, while the remaining 370 million accounts are primarily low-margin, high-cost liabilities, many of which are dormant or low-balance accounts created for financial inclusion purposes. Srivastava also raised questions about the efficiency of SBI's expansive network of 20,000 branches and 220,000 employees. He noted that, in an era of digital banking, India's Digital Public Infrastructure (DPI), which includes Aadhaar, UPI, and widespread internet and smartphone access, has revolutionized financial services, allowing even rural citizens to transact seamlessly through mobile phones. "Despite record-breaking profits, SBI continues to trade at a lower Price-to-Book (P/B) ratio of 1.4 compared to its private sector peers," Srivastava observed, highlighting that banks like HDFC Bank (P/B ratio of 2.8) and ICICI Bank (P/B ratio of 3.3) enjoy higher market valuations. This is due to their perceived agility, leaner operations, and stronger digital presence, as well as their lower capital expenditure on physical infrastructure. SBI's discounted P/B ratio reflects investor concerns about its structural inefficiencies in asset utilization, not its financial performance, according to Srivastava. He emphasized the need for SBI to focus on expanding YONO's reach. "With a relatively small incremental investment, SBI can convert more of its legacy customers into digital users, reducing cost-to-serve," Srivastava suggested. He also proposed that the bank phase out underutilized physical infrastructure, such as branches and ATMs, and trim administrative costs tied to dormant accounts. By doing so, SBI could improve customer lifetime value through cross-selling within the YONO ecosystem and extend its footprint without additional capital expenditure. This, Srivastava believes, would help the bank gain strategic relevance in the competitive financial services landscape. "In future, SBI can become a beacon for all public sector companies, demonstrating that profitability, efficiency, and inclusion are not mutually exclusive," Srivastava concluded. "Higher levels of equity capital add to resources available to compete globally. India needs more financial firepower to fuel its growth ambitions. Doing well will also enable SBI to do good for the nation." Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
19-05-2025
- Business
- Economic Times
SBI's record USD 9.2 bn profit fuelled by relatively small digital cohort
New Delhi: State Bank of India posted record profits of about USD 9.2 billion in fiscal ending March 2025, becoming only the third Indian company, after Reliance Industries and ONGC, to feature in the Global Top 100 companies ranked by net profit. However, bulk of SBI's profits are driven by a relatively small digital cohort, Rajendra Srivastava, who is considered India's Philip Kotler, said in a post on The impressive growth in profitability of India's largest lender lies within a bold digital pivot that began several years ago. "The story of SBI's profitability is, in many ways, the story of YONO," he wrote. The You Only Need One (YONO) app was launched in November 2017. What began as a response to growing fintech disruption has transformed into a pillar of SBI's growth strategy. YONO today has over 74 million registered users, a digital user base that rivals any private player or fintech startup in the country. The platform has enabled over Rs 3.2 lakh crore in loan disbursements since inception and contributes significantly to the bank's retail loan book. Daily logins on the platform exceed 10 million, and 65 per cent of SBI's savings account transactions are now routed through YONO. YONO is much more than a banking app, it's a full-fledged ecosystem or digital marketplace. Users can open accounts, invest in mutual funds, buy insurance, shop online, book travel, apply for loans, and even access government services. This all-in-one strategy is delivering tangible returns by deepening customer lock-in, protecting cash flows, and building long-term resilience. "SBI services over 500 million accounts, making it the largest bank in the world by customer base. However, only around 74 million (approx. 14 per cent) of these accounts are YONO users. This presents a paradox: the bulk of SBI's profits are driven by a relatively small digital cohort, while the remaining 370 million accounts represent low-margin, high-cost liabilities service segment," he wrote. Dormant and low-balance accounts, many of them legacy accounts opened for financial inclusion purposes, continue to weigh on operating costs. Stating that financial inclusion is important, he said the question is whether a sprawling network of 20,000 branches with 220,000 employees is the most efficient way to deliver financial inclusion in 2025. India's Digital Public Infrastructure (DPI) consisting of Aadhaar, UPI, internet connectivity, and smartphone access have revolutionised access to financial services. The very rationale for SBI's physical branches needs re-evaluation when even rural citizens are today transacting seamlessly through mobile phones. "Despite record-breaking profits, SBI continues to trade at a lower Price-to-Book (P/B) ratio of 1.4 compared to its private sector peers. HDFC Bank (2.8) and ICICI Bank (3.3) enjoy higher market valuations because they are perceived as leaner, more agile, and more digitally native by investors," he said, adding the private sector banks operate with lower capex on branches and infrastructure, leaner employee bases with higher productivity, lower NPAs and stronger risk perception in the market. SBI's discounted P/B, compared to its peers in the domestic market, reflects investor concerns about structural inefficiencies in asset utilization, not financial performance per se, he said. Srivastava, who is the former Dean of the Indian School of Business (ISB) and the Novartis Professor of Marketing strategy and Innovation, said SBI must prioritize YONO. "With a relatively small incremental investment, SBI can convert more of its legacy customers into digital users, reducing cost-to-serve," he said. It can also phase out low-ROI physical infrastructure such as underutilised branches and ATMs, trim administrative overheads linked to dormant or low-balance accounts, improve customer lifetime value through cross-selling within the YONO ecosystem and expand its footprint beyond traditional geographies without incremental capex. "This is likely to bring in strategic relevance in an age where fin-techs are redefining customer experience. SBI cannot afford to treat YONO as an ancillary channel, it must become the core engine of customer engagement and revenue generation," he said. Globally, the BFSI sector is undergoing a transformation, driven by digital-first banking models. Operating efficiency, capital-light growth, and personalised digital experiences are no longer luxuries - they are imperatives. "Digital banks have consistently outperformed legacy institutions in metrics like cost-to-income ratio, customer acquisition cost, and return on assets. In India, this trend is visible in the meteoric rise of fintechs like Paytm, PhonePe, and Zerodha. But unlike them, SBI has scale, trust, and regulatory comfort which can be leveraged not only for competitive advantage, but to meet its larger purpose of financial inclusion," he said. SBI, he said, has already proved that it can deliver profits at par with the best in the world. "Now it must prove that it can earn the valuation premium that comes with being future-ready." SBI could potentially double its market capitalisation without doubling its branch network or employee headcount if it were to double YONO user penetration to serve most rural and urban accounts through a mobile app, he said. "In future, SBI can become a beacon for all public sector companies, demonstrating that profitability, efficiency, and inclusion are not mutually exclusive. Higher levels of equity capital add to resources available to compete globally. India needs more financial firepower to fuel its growth ambitions. Doing well will also enable SBI to do good for the nation," he added.
Time of India
19-05-2025
- Business
- Time of India
SBI's record USD 9.2 bn profit fuelled by relatively small digital cohort
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: State Bank of India posted record profits of about USD 9.2 billion in fiscal ending March 2025, becoming only the third Indian company, after Reliance Industries and ONGC , to feature in the Global Top 100 companies ranked by net profit. However, bulk of SBI 's profits are driven by a relatively small digital cohort, Rajendra Srivastava, who is considered India's Philip Kotler, said in a post on impressive growth in profitability of India's largest lender lies within a bold digital pivot that began several years ago. "The story of SBI's profitability is, in many ways, the story of YONO," he You Only Need One (YONO) app was launched in November 2017. What began as a response to growing fintech disruption has transformed into a pillar of SBI's growth strategy. YONO today has over 74 million registered users, a digital user base that rivals any private player or fintech startup in the platform has enabled over Rs 3.2 lakh crore in loan disbursements since inception and contributes significantly to the bank's retail loan book. Daily logins on the platform exceed 10 million, and 65 per cent of SBI's savings account transactions are now routed through is much more than a banking app, it's a full-fledged ecosystem or digital marketplace. Users can open accounts, invest in mutual funds, buy insurance, shop online, book travel, apply for loans, and even access government services. This all-in-one strategy is delivering tangible returns by deepening customer lock-in, protecting cash flows, and building long-term resilience."SBI services over 500 million accounts, making it the largest bank in the world by customer base. However, only around 74 million (approx. 14 per cent) of these accounts are YONO users. This presents a paradox: the bulk of SBI's profits are driven by a relatively small digital cohort, while the remaining 370 million accounts represent low-margin, high-cost liabilities service segment," he and low-balance accounts, many of them legacy accounts opened for financial inclusion purposes, continue to weigh on operating that financial inclusion is important, he said the question is whether a sprawling network of 20,000 branches with 220,000 employees is the most efficient way to deliver financial inclusion in Digital Public Infrastructure (DPI) consisting of Aadhaar, UPI, internet connectivity, and smartphone access have revolutionised access to financial services. The very rationale for SBI's physical branches needs re-evaluation when even rural citizens are today transacting seamlessly through mobile phones."Despite record-breaking profits, SBI continues to trade at a lower Price-to-Book (P/B) ratio of 1.4 compared to its private sector peers. HDFC Bank (2.8) and ICICI Bank (3.3) enjoy higher market valuations because they are perceived as leaner, more agile, and more digitally native by investors," he said, adding the private sector banks operate with lower capex on branches and infrastructure, leaner employee bases with higher productivity, lower NPAs and stronger risk perception in the discounted P/B, compared to its peers in the domestic market, reflects investor concerns about structural inefficiencies in asset utilization, not financial performance per se, he who is the former Dean of the Indian School of Business (ISB) and the Novartis Professor of Marketing strategy and Innovation, said SBI must prioritize YONO."With a relatively small incremental investment, SBI can convert more of its legacy customers into digital users, reducing cost-to-serve," he can also phase out low-ROI physical infrastructure such as underutilised branches and ATMs, trim administrative overheads linked to dormant or low-balance accounts, improve customer lifetime value through cross-selling within the YONO ecosystem and expand its footprint beyond traditional geographies without incremental capex."This is likely to bring in strategic relevance in an age where fin-techs are redefining customer experience. SBI cannot afford to treat YONO as an ancillary channel, it must become the core engine of customer engagement and revenue generation," he the BFSI sector is undergoing a transformation, driven by digital-first banking models. Operating efficiency, capital-light growth, and personalised digital experiences are no longer luxuries - they are imperatives."Digital banks have consistently outperformed legacy institutions in metrics like cost-to-income ratio, customer acquisition cost, and return on assets. In India, this trend is visible in the meteoric rise of fintechs like Paytm, PhonePe, and Zerodha. But unlike them, SBI has scale, trust, and regulatory comfort which can be leveraged not only for competitive advantage, but to meet its larger purpose of financial inclusion," he he said, has already proved that it can deliver profits at par with the best in the world. "Now it must prove that it can earn the valuation premium that comes with being future-ready."SBI could potentially double its market capitalisation without doubling its branch network or employee headcount if it were to double YONO user penetration to serve most rural and urban accounts through a mobile app, he said."In future, SBI can become a beacon for all public sector companies, demonstrating that profitability, efficiency, and inclusion are not mutually exclusive. Higher levels of equity capital add to resources available to compete globally. India needs more financial firepower to fuel its growth ambitions. Doing well will also enable SBI to do good for the nation," he added.
Hans India
03-05-2025
- Business
- Hans India
SBI's operating profit crosses Rs 1.10 lakh crore in FY25, NII up 4.43 pc
New Delhi: The State Bank of India (SBI) on Saturday reported 17.89 per cent increase in operating profit last fiscal (FY25) that crossed Rs 1.10 lakh crore, while operating profit for Q4 grew by 8.83 per cent (year-on-year) to Rs 31,286 crore. According to the country's largest bank by assets, net profit for FY25 stood at Rs 70,901 crore, witnessing a growth of 16.08 per cent (year-on-year), as per its stock exchange filing. Profit after tax (PAT) grew to Rs 20,698 crore in Q4, from Rs 16,891 crore in the previous quarter (Q3). The net interest income (NII) for FY25 increased by 4.43 per cent. For the quarter, net interest income, or core income, went up 2.7 per cent and stood at Rs 42,775 crore. The SBI board has declared a dividend of Rs 15.9 per share. According to its filing, the gross NPA ratio at 1.82 per cent improved by 42 bps, while net NPA ratio at 0.47 per cent improved by 10 bps (on-year). 'Whole Bank Deposits grew by 9.48 per cent YoY. CASA Deposit grew by 6.34 per cent YoY. CASA ratio stands at 39.97 per cent (as on 31st March 2025),' said the bank. SME advances crossed Rs 5 lakh crore, a growth of 16.86 per cent, followed by Agri advances which grew by 14.29 per cent and retail personal advances and corporate advances registered annual growth of 11.40 per cent and 9.00 per cent, respectively. According to SBI results, slippage ratio for FY25 improved by 7 bps and stood at 0.55 per cent. Slippage Ratio for Q4 improved by 1 bp YoY and stood at 0.42 per cent. The bank noted that 64 per cent of saving accounts were acquired digitally through YONO, while share of alternate channels in total transactions increased from 97.8 per cent in FY24 to 98.2 per cent in FY25. Bank's ROA and ROE for FY25 stood at 1.10 per cent and 19.87 per cent, respectively.
