Credit cards are highly effective in helping one manage finances and make purchases. They offer a range of benefits in the form of rewards and special offers. Still, people need to keep in mind that credit cards are a form of credit and they should pay the balance due on time to avoid high interest and penalties.
SBI Credit Card Bill Payment
State Bank of India is one of the largest banks in India with the most number of customers. It offers a wide range of credit cards and also a number of SBI credit card bill payment options. Customers can choose to pay through online or offline methods as per their convenience.
Online payment options provided by SBI are a fast and easy way to pay your credit card bills. The online payment includes methods such as:
- NEFT: NEFT stands for National Economic Funds Transfer and is one of the most commonly used forms of internet banking payment methods. Users can pay through any bank account and follow the standard NEFT procedure that requires the use of the bank’s issued IFSC code. In the column of bank address, customers have to enter the specific address, which is ‘’payment Systems Group, State Bank GITC, CBD Belapur, Navi Mumbai’’. In usual cases, an SBI credit card bill payment made up to a specific time in the afternoon on a business day is credited in a span of 3 banking hours at most on the same day. However, the payments made after the specified time are usually credited on the next day.
- Paynet-Pay Online: Paynet-Pay is a special payment option from State Bank of India. Under this, users have to visit www.sbicard.com using their SBI Card online user ID and password. The user has to click the ‘Pay Now’ option, fill in the payment amount and choose the payment method. The user can move ahead and make the payment after they have put in all the details. State Bank sends the customer an online notification in addition to an SMS on his / her registered mobile number. This ensures they are able to track all financial transactions on the card.
- VISA Credit Card Pay: This is a payment method which allows you to pay your credit card bills anytime and from anywhere. The service can be used through the net banking facility provided by your bank. You just have to log in to your net banking page and choose the option of ‘Third Party Funds Transfer.’ After selecting the VISA Credit Card Pay, you have to fill in the sender and receiver details to initiate the fund transfer.
- SBI Mobile Banking: This is a comparatively new way of making SBI credit card bill payments. These days everyone has a mobile phone and they can use it to make a fast and efficient payment for their SBI credit card bills. To start the process, the user has to send an SMS containing the text ‘MBSREG’ to the number: 922 344 000. They will then receive a user ID and a default MPIN. The user can then install the SBI Freedom app on their mobile phone and pay the bill using their SBI debit card or another bank’s debit card.
- Electronic Bill Payment: Electronic Bill Payment or EBP can be used for paying credit card bills directly from your bank account. The service can be availed through net banking, ATM, or the mobile app of SBI, Indian Overseas Bank, Citibank, and Bank of India. This service offers you multiple channels to pay your SBI credit card bills.
- National Automated Clearing House: National Automated Clearing House (NACH) helps you save a lot of effort as you do not have to issue a cheque each month for your SBI credit card bill payment. It is quite simple to avail the service. You just need to authorise your SBI credit card to deduct the amount directly from your bank account. It is a great way to save a lot of time and effort.
To avail the NACH service, all you have to do is to download the online form from SBI Forms Central and send the filled form to the address mentioned later in the paragraph. You have to choose one of the three SBI credit card bill payment options. The three options include Total Amount Due (TAD), Minimum Amount Due (MAD) or Fixed Amount. The form should be sent along with a cancelled cheque to: SBI Card Payment Services Pvt. Ltd., P.O. Bag No. 28, GPO, New Delhi – 110001.
SBI Auto-Debit: Under this option, the due amount is deducted automatically from your bank account. The associate banks which also provide the service are State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore. This service is somehow similar to the NACH. To avail the service, you have to download the form from Forms Central and send a duly filled form along with your payment options such as Total amount Due (TAD), and Minimum Amount Due (MAD) to SBI Card Payment Services Pvt. Ltd., P.O. Bag No. 28, GPO, New Delhi – 110001.
Debit Card: This is another secure and fast way to pay your credit card bills. In this service, you can use any of the mentioned debit cards to pay the bills. The cards that you can use are:
- SBI Debit Card
- Bank of India ATM-cum-Debit Card
- Bank of Maharashtra Debit Card
- Canara Bank ATM-cum-Debit Card
- Citibank Debit Card
- Indian Overseas Bank Debit Card
- Lakshmi Vilas Bank Debit Card
- Shivalik Bank Debit Card
- Pragathi Krishna Bank Debit Card
- Kerala Gramin Bank Debit Card
- IDFC Bank Debit Card
- Bank of Baroda Debit Card, and
- Bharatiya Mahila Bank ATM-cum-Debit Card
You have to visit ww.sbicard.com to pay through your debit card. The payment process is simple. You have to choose the tab saying ‘pay through debit card’ and enter the card details such as card number along with the amount and your email ID. Once you have chosen the card and put in the authentication information, you have to confirm the payment. Once done, the paid amount will be deducted from your bank account.
- Pay Through Mobile Application: This is another comparatively new and yet popular way of paying SBI credit card bills. It is fast, easy and convenient. The application works on most smartphone operating systems including Android, iOS and Windows. The app simply deducts the amount from your bank account.
You can also pay your credit card bill using offline payment options. These payment modes include:
Over the Counter (OTC) Payment: You can make OTC SBI credit card bill payment that are worth over Rs. 20,000 at any of SBI and its associate banks’ branches across India. Since it is an over the counter payment, you will receive an instant receipt. You have to fill the payment receipt and submit it along with the amount to the teller and collect the acknowledgement receipt right there and then. The associate banks for this service are State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore.
- Electronic Drop Box: You can make your SBI credit card bill payment through a cheque and get an immediate e-receipt through the electronic drop box facility. Once you have inserted the cheque into the drop box, you will get a scanned image of your cheque as a receipt. The payment will reflect similarly with regular cheque transactions in your SBI credit card account within 4 working days. However, you have to keep in mind that the payment should be made 4 to 5 days before the due date as it takes some time in realisation of the cheque and credit the payment to your credit card.
Also, electronic drop boxes do not function on Sundays and bank holidays. Moreover, they are only valid for local transactions as an electronic drop box does not accept outstation cheques. In addition, you have to ensure that the cheque is not folded or stapled as they will be rejected.
- Manual Drop Box: These are regular drop boxes that are located across more than 1,300 SBI branches in the country. You have to fill the correct credit card number on your cheque along with your name and registered phone number. The payee will be mentioned as ‘SBI Card no. <16 digit card number>.’ The drop box clearing timings are 12 pm to 3 pm from Monday to Friday and 10 am to 12:30 pm on Saturdays.
You have to make sure that the cheque is account payee only and not outstation. It has to follow CTS 2010 standards for timely processing as well.
- SBI ATM: You can also use SBI ATMs across the country to pay your credit card bills. You just have to go to an SBI ATM and choose the services tab in the ATM menu. After that, you can enter your credit card number and the amount to be paid. You will immediately receive a payment acknowledgement receipt.
Here is a list of some frequently asked questions by State Bank cardholders regarding SBI credit card bill payments.
Q. What to do when a payment has been made but has not shown up on the SBI credit card or the card’s online account statement?
A. In this case, you have to notify the bank that the SBI credit card bill payment has not been posted to your account. You need to prepare the documents showing that you have made the payment. You can show the copy of a cancelled cheque or electronic payment except as a proof of payment. In addition, you should file a dispute with the bank. This complaint must be filed within a specified number of days from the date on which the bank mailed the statement that showed the error.
Q. Can it be called a late payment if a payment has been made on the due date?
A. Yes, the bank can call it a late payment as the terms and conditions of whether a SBI credit card bill payment is late or not is decided by your account agreement. If the information in the terms and conditions say that payments made on the last date but after a specific time will be deemed as late, then the bank can call them as such. Consequently, it is always better to make payments 3-5 days before the due date.
Q. What if State Bank has increased the minimum monthly amount due on the credit card bill and the individual is unable to afford that?
A. In such conditions, the person has to directly contact the bank and discuss on an agreeable payment plan.
Q. Can a cardholder make special payment arrangements with State Bank or other banks?
A. Yes, most banks agree for paying bills on the date of receiving of the salary or one’s monthly income because they also understand the limitations of their customers.
Q. Can banks make the customer pay a fee for letting them use a specific payment method?
A. Banks can charge a fee for using a specific SBI credit card bill payment method due to special circumstances. For instance, if the payment mode you are using involves an expedited service by the bank or the option is one where the bank has to incur additional costs, then it is likely that a bank may charge a certain fee.
Q. Can State Bank still charge a late fee if the payment has been mailed before the due date?
A. Yes, State Bank can do that. This is because you are liable to make the SBI credit card bill payment on or before the due date. If you have mailed a cheque but it has not been received or has been received but not cleared as yet by the due date, then you will be charged a late fee. This is why your account agreement always mentions that a payment made through specific methods that can cause a delay in clearance should be made 4 to 5 days prior to the due date.
Q. When is a payment considered late or on time?
A. An SBI credit card bill payment is considered late or on time depending on when the funds are credited to your card account. You have to ensure that that the payment is not just mailed or done on time but has been received and cleared by the bank on time as well. A simple way to do this is to check your bank account from where the payment has been made. If the payment has been debited from the bank account, then SBI should receive the payment within the same day or at most the next business day.
Q. Can State Bank delay the posting of payment on a credit card account?
A. Banks do not delay posting the payment on a credit card account. However, banks can set some reasonable requirements for processing payments. If these requirements are met by the cardholder, then the bank usually credits the card balance within 3-4 business days at most.