State Bank of India or SBI is India’s largest public sector bank. It has consistently evolved its way of doing business and has managed to provide financial services to its customers as efficiently as ever. It has introduced SBI net banking service to fulfil its customer’s requirements and cater to their needs.
SBI Net Banking Service
In order to keep up with the time and to ensure that customers continue to receive quality services, SBI launched its internet banking facility. Customers having a bank account with SBI can make financial transactions easily, while sitting in the comforts of their homes or offices provided they need to apply for internet banking facility.
An account holder can perform the following facilities through SBI net banking:
SBI Net Banking Services
|Account details||Account statements||Last 10 transactions|
|Nomination & PAN details||Checking CIBIL Score||Change login password|
|Update profile details||Update Aadhaar in the bank account||NPS payment|
|Fund transfer within SBI||Fund transfer outside of SBI||Donations|
|Demand draft request||SBI Collect||SBI mCash|
|Western Union money transfer||View/Add Biller||Mobile recharges|
|SBI Life Premium Payment||SBI General Premium Payment||SBI MF SIP Registration|
|Fixed Deposit Investment||Issue of Interest Certificate||Recurring Deposit|
|Pay taxes||View Form 26AS||e-Filing/e-Verify Income Tax|
|ATM card services||Sovereign Gold Bond||Online locker|
How to Register for SBI Netbanking?
SBI account holders can apply for internet banking by visiting the home branch. They have to fill the net banking registration form and submit it to the bank executive. A username and password are generated and sent to the user on the registered address by post. One can use the username and password for SBI net banking online registration by following the steps mentioned below:
- Visit SBI net banking portal at https://retail.onlinesbi.com/retail/login.htm
- Click on “New User? Register Here/Activate”
- Provide your details and submit your application
- A temporary username and password is generated that can be used to login and make a permanent username
- The password can be changed from time to time
Also Read: How to Activate Net Banking in SBI
How to Change SBI Net Banking Username and Password?
This is a one-time process and the account holder has to perform it only when logging in to the SBI net banking account for the first time. Following steps have to be followed for the same:
- Once account holders activate SBI net banking account, a temporary username and password is generated
- They have to change the temporary username and password
- The newly created username becomes the permanent username of the account holder
- Now, the account holder has to set the login password and the profile password
- Hint questions have to be set for assistance when the account holder forgets his password
- Once registered, the account holder will be able to use all facilities provided with net banking
How to Update SBI Net Banking Password?
An account holder can update his SBI netbanking password as many times as he wants to. It is a free service and the bank charges no fee for this service. One can reset his SBI net banking password by following the steps mentioned below:
- Visit the netbanking portal to login to the account
- Click on the “Forgot net banking login password” for SBI account
- Select the “Forgot my login password” and click on “Next”
- Enter the details and submit the application
- Now enter the new password and submit the request
- The password will be reset and one will now be able to login to the SBI net banking account using the new password
How to Transfer Funds through SBI Net Banking?
Account holders can transfer funds from one bank account to another online in seconds through SBI net banking. One can do so through any of the following methods:
One can carry out fund transfers online from the SBI account to various other accounts. A list of such accounts is mentioned below:
SBI Net Banking Fund Transfer Options
|· Within own SBI accounts||· To SBI accounts of others|
|· To other bank accounts||· Credit Card (Visa) bill payment|
|· International fund transfer||· SBI Collect|
|· Donation||· Western Union Services|
|· State Bank mCash||· Demand Draft Issuance|
SBI Quick Transfer (Without adding beneficiary)
- SBI Quick Transfer service allows a user to transfer funds to an account in India without adding a beneficiary
- One can carry out fund transfer of up to Rs. 10,000 through this method
- The account holder is required to provide the beneficiary account details and select whether the transfer has to be done through NEFT or IMPS
- One can transfer funds up to a maximum of Rs. 25,000 per day
Read More: SBI Quick Transfer
Fund Transfer through SBI Net Banking to SBI Accounts
- Account holders can transfer funds from their SBI account to other SBI accounts through net banking portal
- One has to add the beneficiary for carrying out fund transfer
- Once added, the account holder can transfer funds online quickly
- One can set the maximum fund transfer limit for a beneficiary as well
- Standing instructions can also be set for post-dated payments
How to transfer funds from SBI account to other bank accounts through net banking?
It is possible to transfer funds from SBI account to other bank accounts. One has to follow the steps mentioned below to do this task without any hassles:
- Log in to the net banking account
- In the “Payment/Transfer” section, select the “Other Bank Account” option
- Select your account and fill the amount that has to be transferred
- Select the beneficiary from the list mentioned and click on the submit button
- The amount will be transferred to the beneficiary’s account on successful submission
SBI Online Portal
SBI operates its net banking through a highly secured portal called the SBI Online portal. It provides all the online services through this portal to both— retail, as well as, corporate clients.
The portal is handled by applications supporting the latest technologies to ensure the online data safety of the clients. SBI net banking has a sophisticated and strong software infrastructure ensuring the safety of all the data from across its branches nationwide.
SBI Retail Net Banking
Basically, the retail service is all about one to one dealing with the bank with the clients. In corporate banking, the bank deals with huge corporate entities. SBI, in its retail net banking service, provides several services to its customers. These services are listed below:
- Transfer funds from one account to another online, without much hassle or the need to visit the bank branch.
- Investment options such as opening deposit accounts of various nature viz. Fixed deposits, recurring deposits or a flexible option.
- Apart from the investment schemes and fund transfers, SBI net banking also provides its customers with the option to book flight, train or bus tickets and pay directly via net banking.
- SBI Net banking can also be used for payments for online hotel bookings.
- Online shopping can also be done by simply visiting the website, selecting the things one wants to buy and choosing SBI net banking as the payment option.
- Bill payments and mobile/DTH recharges is also among many of the services provided by SBI through its net banking.
- One can also transfer instant funds across borders by linking the SBI account to Western Union Services. The portal permits the transfer of funds online to the Western Union for money transfer to an account outside the country.
- Another essential necessity that consumes the time and energy of an individual is tax filing. SBI offers the option of filing e-taxes via its net banking facilities.
- For those clients who are actively involved in the share market and are on a lookout for a good investment in the field, SBI net banking offers the DEMAT account and IPO services too.
Apart from the ones categorically mentioned here, there are several other value-added services that one may avail on the SBI net banking.
SBI Corporate Net Banking
As mentioned earlier, SBI caters to both retail as well as corporate clients. Some of the key services provided under SBI corporate net banking are as under:
- The ease of access to one’s account from just about anywhere is most important
- SBI net banking facility helps speed up the monetary transactions which otherwise takes far too long
- Since corporate transactions include a large amount of money to be transferred in one go, it is very important to ensure that these transactions are executed securely. For this purpose, the State Bank of India makes sure that the transactions thus made are absolutely safe and secure
- SBI provides its corporate customers with 24*7 access to the portal for transactions
- Utility bills and various taxes that a corporation needs to pay are ample. SBI net banking ensures a single platform where customers can easily make both these payments.
- SBI online provides the facility of uploading the files in case it is required to complete any transaction or payments like tax returns, etc.
- There is also the provision of transferring money from one SBI account to another or the intrabank money transfer facility.
- Inter-bank money transfer is also a facility available to the corporate clients since it is not necessary that the merchant or seller holds an SBI account, thus, a facility of inter-bank transfers is extremely useful.
- Making payments to registered suppliers online is also a facility that SBI provides to its corporate clients. This way, they can ensure the smooth running of the business without worrying about any outstanding payments.
- SBI online banking enables its corporate clients to not only make payments but also collect the same via online banking.
- SBI online also provides the corporate with the option of applying for IPOs online.
Also Read: SBI Corporate Net Banking
Any online banking service provider caters to a lot of customers and their vital data at any given point of time. Thus, it is very important that the banking portal uses a very secure server to execute online financial services. The SBI net banking service also enables its customers to execute a wide range of financial transactions on a daily basis.
In order to make sure that these crucial and sensitive data are not compromised, SBI offers a high level of security to cover the transactions. Internet transactions are made using an encrypted SSL medium. The EV SSL certificate awarded to SBI as a way of quality assurance in terms of security is proof that SBI uses the highest level of security while enabling its customers to use online portal for financial transactions. This security feature is known as VeriSign and its key security features are listed below:
- VeriSign is believed to be one of the leading internet security certification authorities in the world. This same VeriSign has attested to the security standards adopted by SBI in its online banking portal.
- In order to check, look for the padlock symbol which will either be in the address bar or in the status bar. This symbol is the proof of security certificate. The symbol will always be located within the display area and never out of it.
- When one clicks on the padlock sign, the symbol will display the certificate of attestation by VeriSign proving that SBI on its end has indeed ensured that the clients’ transactions are completely secure.
Self-Vigilance Guidelines for SBI Net Banking Users
While the bank is doing its share of work in ensuring the safety of online transactions, yet it is always advisable for the clients to be extra careful, since even the slightest carelessness on their end could lead to a severe monetary loss to them. After all, despite due diligence, the security measures are still mechanical and are handled by artificial intelligence which can easily be manipulated in the wrong hands. Thus, the bank lays out several guidelines for the users to ensure safety and vigilance on their end. Some of these guidelines are as under:
- A customer should never share the password with anyone. It is worth mentioning that the bank will never ask for the customer’s password.
- It is always wise to keep changing them at various intervals which makes it difficult for anyone to hack it.
- Try to have a password that makes use of variations such as upper case letters, lower case letters, numbers and special symbols. The tougher the password combination, the harder it is for someone to crack it.