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Introduction

State Bank of India is the largest public sector bank as well as the largest bank in India. With a network of over 24000 branches across the country and 191 offices in 36 countries worldwide, it has the maximum presence in the country and as well as the largest global presence among all the Indian banks. SBI also has an efficient net banking facility to aid the smooth banking of its national as well as international customers and offers a variety of products and services which are suitable for all types of retail customers as well as corporate entities on its net banking platform.

The details of the net banking facility of the bank are provided here.

Features of SBI Net Banking

Sbi Net Banking

The net banking facility of SBI offers a lot of attractive features both for its retail as well as corporate customers. Some of the features for both the customer groups are provided here.

Retail Net Banking

  • Ease of funds transfer has been one of the biggest boons of net banking and SBI provides a secure and efficient platform for the same. The user can transfer funds to his/her own account within the bank or make third party transfers to another account within the bank or outside to another bank saving valuable time and energy of the customers.
  • Net banking also allows the user to pay various bills like utility bills, recharging to various accounts like mobile, DTH, online payments like shopping, movies, travel, leisure expenses, and much more.
  • The user can also link the various accounts held in the SBI like loans, FDs, RDs, Demat, Insurance, forex, etc. to his/her single net banking account and thereby operate them easily at the tips of their fingers at their convenience.
  • It also enables the user to fill timely tax returns, view tax certificates, pay direct or indirect taxes.
  • The user can set up standing instructions for timely payments or transfers or auto-debits as the case may be and thus not be bothered to remember each and every payment that has to be made within certain deadlines.

Corporate Net Banking

  • Corporates also rely heavily on the net banking facility of the bank to carry out their day to day transactions and business.
  • The security of the net banking facility allows the corporate to carry out huge transfers or receive funds without any fear of loss or delay of funds.
  • The net banking facility allows the timely payments of the dues or taxes that need to be paid in order to avoid delays or penalties or any additional charges that may be later borne by the corporate entity on account of such delays.
  • It also allows easy reconciliation of the accounts of the entity as well as viewing of the accounts on any date as required for transparency or audit purposes.

Registration to SBI Net Banking

The prerequisite conditions for SBI net banking are stated as follows.

  • The mobile number has to be linked to the SBI account and has to be active for processing the registration as well as have a valid ATM Card
  • The net banking account cannot be opened by joint holders via the online mode. Such customers have to visit the branch of the bank for the same.
  • Also, individuals who have already applied for the net banking facility by personally going to the branch cannot apply for the net banking facility online.

After considering the above points the individual can apply to the net banking facility of the bank in the following manner

  • The user has to visit the official website of SBI to initiate the registering process where he/she will have to click on ‘New User Registration’ and the user has to assure by clicking on the pop up that he/she has not already received the Internet Banking Kit.
  • The user will be then taken to the page where the account details of the user will be required to be filled in like the account number, branch code, CIF number, registered mobile number, etc.
  • The user also has to choose the type of facility that will be required on the net banking account (view, limited transactions, full transactions rights) and then click on ‘submit’.
  • The user will be sent an OTP on the registered mobile number and will be required to be submitted by clicking on ‘confirm’ for authentication purposes.
  • The user must then select ‘I have my ATM card (Online registration without branch visit)’ option on the next page and click on ‘Submit’ followed by entering the ATM card details and the captcha code and click on ‘Submit’.
  • The system will then create a temporary username followed by creation of a new password by the user.
  • This new password details will have to be entered twice for confirmation and then click on ‘submit’.
  • The temporary user name has to be duly noted.
  • The user can then log in to the net banking services after an hour and create a new username as per his/her choice and click on submit after all the terms and conditions are accepted.
  • The user will then be required to create a profile password and a login password which cannot be the same. The user will also be required to choose a secret question from the options available which will help the user create a new password in case he/she forgets the password.
  • The user must also enter certain personal details like his/her place of birth, country of birth, and the mobile number that is registered with SBI.

How to transfer funds via SBI Net Banking

The steps to transfer funds from a person’s net banking account with the bank are detailed below. The user can transfer funds to any account held within the bank or outside the bank via NEFT/RTGS/IMPS mode.

  • The user can start the process to transfer funds by logging into the net banking account using the user id and password generated as above.
  • The user can choose to transfer to an account within the bank or outside the bank from the options given under ‘Payments/Transfer’.
  • The user will be taken to the next page where he/she will have to choose the type of transaction to be made and then click on ‘proceed’.
  • The user will then be directed to the page where he/she will have to select the account from where the funds have to be transferred.
  • The amount of transfer and the purpose also have to be entered by the user.
  • The next step is to choose the beneficiary from the list of beneficiaries already added by the user along with the time to transfer i.e. immediate transfer or a scheduled transfer.
  • After all the required details are carefully filled the user has to select 'submit’ after accepting the terms and conditions and then click on ‘confirm’.
  • The user will then receive an OTP on their registered mobile number which has to be entered to authenticate the transfer by clicking on ‘Confirm’.
  • The transfer will then be effected and a confirmation message for the same will be received by the user.

Daily Transaction Limits for SBI Net Banking

Transaction TypeLimit per daySBI Charges per transaction

Fixed/Recurring Deposit

Rs. 99,99,999

NIL

Transfer within Own Accounts

Rs. 2,00,00,000

NIL

Third party transfer within SBI

Rs. 10,00,000

NIL

Interbank NEFT

Rs. 10,00,000

NIL

Interbank RTGS

Rs. 10,00,000

NIL

IMPS

Rs. 2,00,000 (Per Transaction)

NIL

Quick transfer 

Rs. 25,000 (Rs. 10000 per transaction)

NIL

mCash

Rs. 2,202

Rs. 2.50 per transaction+tax

Credit card Visa transfer

Rs. 1,00,000

Rs. 15 per transaction+tax

UPI

Rs. 1,00,000

NIL

Merchant Bill Payment

Rs. 50,000 – Rs. 1,00,000

NIL

Transaction Limit for newly added beneficiary (first 4 days)

Rs. 1,00,000

NIL

Resetting password for SBI Net Banking

The user can reset the password to the SBI net banking multiple times or even in case he/she has forgotten the same. The process for such resetting is detailed here.

  • The user can start the process to reset the password by visiting the bank’s website for net banking (www[dot]onlinesbi[dot]com) .
  • The user is required to click on ‘Login’ under ‘Personal Banking’.
  • The user will be taken to the next page where he/she must click on ‘Continue to Login’ and then click on ‘Forgot Login Password’.
  • The user will be directed to a page where he/she must select ‘Forgot My Login Password’ from the drop-down menu and then click on ‘Next’ once the option is selected.
  • The user will be required to submit the relevant details like username, account number, country, mobile number, date of birth, and the captcha details and then click on ‘Submit’.
  • The user will receive an OTP on the registered mobile number which will have to be submitted to authenticate such request of new password and then click on ‘Submit’.
  • The user will be directed to the page where he/she can reset the password and login to the net banking account using the same.

SBI Net banking customer care

The customers can contact the bank for any queries or issues relating to their net banking accounts by using any of the following contact details.

Postal Address - Customer Service Department
    State Bank of India
    State Bank Bhavan, 16th Floor
    Madam Cama Road,
    Mumbai 400 021
    Tel: 022-22029456

FAQs

1. Is SBI net banking available to its NRI customers?

SBI Net banking is available to all the existing customers within the country and outside as well.

2. Can a minor open a net banking account?

A minor over 10 years of age can have their own bank account subject to certain restrictions and can open a corresponding net banking account for the same.

3. Are the username and password to be collected at the branch of the bank?

The username and the password that are generated in the secure space will be sent to the registered address of the account holder via a courier in separate mails.

4. How to keep the net banking account secured?

The user can secure his/her net banking account by simple practices like

  • Changing the password frequently and commit it to memory instead of writing it somewhere
  • Not sharing the same with strangers even if they claim to be from the bank
  • Not to assign passwords that can be very predictable like name or date or birth of self or close family members.

5. Can a customer get any net banking related assistance from the customer care of the bank?

The customer can reach the customer care of the bank at their toll free number 1800 11 2211/ 1800 425 3800 or through any other channels as mentioned above for any assistance regarding net banking.

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