Keeping your credit card payments updated is extremely important if you want to avoid paying unwanted interest charges. Making payments physically through a cheque or cash deposit can be quite a hassle. When you are on the go, you need a more convenient option to make these payments. You can use your online or mobile banking account for Standard Chartered Credit Card Payment through NEFT. This is a reliable method and ensures that you are never behind on your payments.
Standard Chartered Credit Card Payment with NEFT
To make your credit card payment at your convenience, choosing NEFT is the best option. You can access your account through your online banking account. Follow these steps to complete your Standard Chartered Credit Card Payment NEFT:
- Log in to your net banking account with a username and password.
- Click on the NEFT option under “Fund Transfer”
- Choose the “Add a beneficiary” option to add your standard chartered credit card as a beneficiary.
- Provide your credit card number.
- Select the name of the bank as “Standard Chartered”
- Under the payee account type option, select “current”
- The IFSC Code for your Standard Chartered credit card payment is SCBL0036001.
- The branch address to be entered is “Standard Chartered, MG Road, Mumbai”
- Once the details have been entered, choose the “Confirm” option.
- It takes about 30 minutes for your Standard Chartered Credit Card to be added as your beneficiary.
- Once this is complete, you can enter the amount that you need to transfer and complete the transaction.
- When you make your credit card bill payment through NEFT, you will receive notification along with a tracking reference number to check the status.
- After the amount has been credited to the credit card account, you will also receive a confirmation in the form of an SMS alert.
NEFT Timings for Credit Card Bill Payment
To ensure that the funds are transferred successfully, you will have to make sure that the transaction is made within the standard NEFT timings. These timings may vary as per the bank that you hold your account with. However, the regular NEFT timings as per the Reserve Bank of India are as follows:
- The NEFT payment system will be available on a round-the-clock basis for all days of the year i.e. 24×7, 365 days
- There will be 48 half-hourly batches every day and the settlement of the first batch will commence after 00:30 hours and the last batch will end at 00:00 hours.
- NEFT transactions after usual banking hours of banks are expected to be automated transactions initiated using ‘Straight Through Processing (STP)’ modes by the banks.
Why is NEFT a good option?
While Standard Chartered offers several other options to make your credit card bill payment, NEFT is the most recommended one for the following reasons:
- Standard Chartered Credit Card Payment NEFT is extremely convenient allowing you to make fund transfers on the go.
- It is the most reliable option as it adheres strictly to the guidelines of the Reserve Bank of India.
- There is no minimum or maximum limit on NEFT transactions.
- NEFT is also one of the most economical and convenient options available to make credit card bill payments.
What are the NEFT Charges?
There are some charges associated with NEFT payments towards your credit card. These are debited from your account automatically when you make the payment. If you are making an inward NEFT payment from a Standard Chartered Account, NEFT Charges will be waived off. Moreover, no charges will be applied on NEFT transactions initiated online via internet banking and/or mobile banking.
At the bank branch, the NEFT charges as per the Reserve Bank of India currently are as follows:
|Transaction Amount||NEFT Charges|
|Amount up to Rs 10000||Not exceeding Rs.2.50 + GST|
|Amount above Rs.10000 and up to Rs.1 lakh||Not exceeding Rs.5 + GST|
|Amount above Rs.1 lakh up to Rs. 2 lakh||Not exceeding Rs.15 + GST|
|Amount above Rs.2 lakh up to Rs. 5 lakh||Not exceeding Rs.25 + GST|
|Amount above Rs.5 lakh and up to Rs.10 lakh||Not exceeding Rs.25 + GST|