SBI Net Banking: Most of us may not know, but the origin of State Bank of India (SBI) goes straight back to the 1800s. Yes, it is that old! SBI has been serving its customers for 200 years now. With that amount of experience can you imagine the quality of products and service they provide?
State Bank of India is the oldest and also the largest commercial bank in India in the public sector banking. It is a giant multinational company with a solid base of assets, profits, deposits, branches, employees and customers. SBI is a government-owned company with more than 50% of the shares under its ownership. The bank has its headquarters located in Mumbai, Maharashtra. SBI occupied the 59th rank in the list of ‘Top 1000 World Banks 2015’ by the Banker’s Magazine. Recently, this year SBI merged five of its associate banks with itself.
SBI Net Banking
The group has a wide network of more than 22, 000 branches and over 59, 000 ATMs in India along with more than 190 offices in 38 different countries all over the world. The bank also has its branches spread over the remotest parts of India. In the Indian banking sector, SBI holds more than 1/5th of the market share.
SBI offers a wide range of financial products and services to its retail and corporate customers. SBI Net Banking is one such mentionable service provided by them. They have one of the best infrastructures to facilitate online banking. SBI Net Banking is one of the fastest and secured sites when it comes to online banking.
Let us now get into the details of SBI Net Banking.
About SBI Net Banking
SBI provides world class internet banking services to its retail and corporate customers. SBI Net Banking is developed using the latest technology and tools. The infrastructure is so good that it can support secure access to online banking services for accounts in more than 15, 000 branches in India, at the same time.
OnlineSBI is the net banking portal for the State Bank of India. SBI Net Banking enables its customers to access their account online from anywhere and at any time. It defies all the restrictions imposed by geography and time. With SBI Net Banking facility, the customers can operate their accounts and enjoy other services sitting at the comfort of their homes. They no longer have to rush to the banks to check their account balance or to avail any other service.
To enjoy the SBI Net Banking facility, one has to apply for the opening of an online account with SBI. SBI Net Banking facility makes it easy for you to handle your account and keep track of your balance and much more. Any person with SBI Net Banking facility can carry out these following banking transactions:
- Transfer of funds between own accounts.
- Third party transfer to an account maintained at any SBI branch.
- Group transfer to accounts in State Bank Group.
- Inter-bank transfer with other banks.
- Online standing instructions for the transfer of funds.
- Credit PPF across branches.
- Request for the issue of Demand Draft.
- Applying for the opening of new accounts.
- Request for the closure of loan accounts.
- Request for the issue of a new Cheque book.
- Check account balance online.
- Earn reward points to carry out transactions with SBI Net Banking.
Apart from these services, other salient features are:
- Payment of utility bills.
- Online ticket booking.
- Payments of SBILIFE, LIC, and other insurance premia.
- Payment of Credit Card dues.
- SBI and other mutual funds.
- Payment of taxes.
- Payment of customs
- Online share trading.
- Online application for IPO.
SBI Net Banking covers most of your banking transactions easily. All the SBI branches are internet banking enabled. You can contact any of the SBI branches and apply for SBI Net Banking service.
In terms of security, the site is ‘VeriSign’ certified which indicates that the site is completely secure to carry out online transactions. Apart from this, there are additional security layers available while carrying out a transaction. All this makes SBI Net Banking the best among the lot.
How Can I Register/Apply For SBI Net Banking?
Internet banking is beneficial in many ways possible. It cuts down on the labor of standing in a queue for hours to make a payment. Not only that, but it also makes the process of paying and receiving money much more secure than normal transactions. There are a plethora of services that one can avail by the use of internet banking.
To use the SBI Net Banking facility one has to first apply for it and get himself registered. One can visit any SBI branch and ask for an internet banking registration form. After the submission of the filled up form, you will receive your password in a secure envelope after a week or two from the date of submission. The envelope will be delivered to you to your given address.
But, you can always try the easy way out and apply online for the SBI Net Banking service. The step by step procedure to which is given below:
- Visit the official page of online SBI.
- Click on the ‘New User? Register’ link highlighted at the side of the screen.
- A new window will appear with the details to-be-filled in by the user.
- Enter the required details such as account number, CIF number in SBI, branch code, mobile number, country, access limit,
- Click on the ‘submit’ button. You will receive a One Time Password (OTP) on your given mobile number from SBI.
- Enter the OTP code on the site and then click proceed.
- A new page will appear where you have to do the validation of your OTP code.
- Next, you will see the temporary username flashed on the screen.
- Now, you have to set a secured login password for your SBI online account.
- Enter the chosen preferred password and click on the ‘submit’ button.
- A screen with message ‘Successfully Registered for Internet Banking’ will appear.
Applying for SBI Net Banking online is this easy. Follow these simple steps to get yourself registered for the SBI Net Banking service.
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Logging into your SBI Net Banking for the first time comes right after the registration process is successfully done. Once you have been registered, you are required to change your username and password given by the bank. It is a mandatory requirement for security purposes. Now, those who do not know how to login to their SBI Net Banking accounts for the first time, the steps are listed below:
- Visit the official website of online SBI login https://www.onlinesbi.com/
- Click on the ‘Login’ button shown on the screen.
- A new page with some instructions will appear. Read the instruction and give a click on the ‘Continue to Login’ button.
- A new window will appear where you have to enter the username and password given to you by the bank.
- Then click on the ‘Login’ button.
- Once you are logged in, you are required to change the username and the password given by the bank to your preferred username and password and save it.
- Enter the newly created password.
You will be successfully logged into your online SBI account for the first time. Do not forget the username and the password as you will require it in the future, whenever you want to log in.
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Essential Services of SBI Net Banking
SBI Net Banking provides a plenty of essential services to its customers. Some of which we have already discussed earlier in this article. The bank has classified its online services for its retail and corporate customers.
Retail Internet Banking
The Retail Internet Banking of the SBI offers the following list of valuable products and services online:
- Transfer of funds: between own accounts, third-party transfer, and inter-bank transfer.
- A range of complete online products and services: fixed, recurring, tax saving, flex,
- Online ticket booking
- Payments of online shopping and instant recharge.
- E-pay for the automatic payment of bills like electricity, gas,
- IMPS funds transfer.
- Western Union service.
- Credit beneficiary accounts using RTGS/NEFT features.
- Generation of account statements.
- Schedule payments by standing online instructions.
- Change profile settings.
- E-tax for the online payment of taxes.
- Get DEMAT and IPO services.
- Payment of credit card bills issued by SBI or any other bank.
- Other value added services.
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Corporate Internet Banking
Corporate Internet Banking enables all small businesses, trusts, firms, government institutions and other business houses to carry out financial transactions from anywhere at any time with ease.
The online services offered are as follows:
- Payment of your bills, taxes, statutory bill online.
- Uploading files to make bulk payments of salary, tax, remittances, utility bills, etc.
- Transfer of funds to other banks and SBI accounts.
- Online payment to registered suppliers.
- ASBA: Online application for IPO service.
- Collection and remittances of various fees by State Bank Collect.
- Generate account statement.
- MIS/Reverse file: Easy reconciliation.
- Promotion of Green Banking: No use of paperwork.
- 24/7, enquire and transact on your account.
- Convenient banking
Whether you are an entrepreneur or a partner at a business, SBI knows how to solve your banking problems under Corporate Internet Banking.
Frequently Asked Questions about SBI Net Banking
These are some of the frequently asked questions about SBI Net Banking:
- I don’t have an account with SBI?
It is very easy to open a new account with SBI. Visit any of the nearby SBI branches and ask the staff to help you with the opening of an account.
- What should I do, if my branch doesn’t have the Online SBI facility?
You can opt any of the three options:
- Wait till your branch goes online.
- Open an account at a branch with the internet facility.
- Apply for the transfer of your account from a not-INB branch to an INB facilitated branch.
- What should I do if, I forget my login password?
Visit the online SBI site and click on the ‘forgot password’ link and enter the requested details. Within 5 working days, a new password will be delivered to you on your registered address.
- What happens if I forget my username?
In case you forget your internet banking username. Contact your branch and get yourself re-registered.
- I am unable to login with the username and password given to me by the bank. What should I do?
The username and password are cases sensitive in nature. While typing the username and the password for the first time makes sure that you are typing the characters as given in the document sent to you. But, if you still face problems logging in, register your complaint in the ‘Customer Care’ link in the login site or contact your branch.
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6. I have received the username for SBI Net Banking and not the password. What should I do?
For security purposes, the username and the password are delivered in two separate emails. If you haven’t received any one of the above, register your problem in the ‘Customer Care’ link in the login site or contact your branch. SBI will surely take immediate action.
The bank has also launched its new mobile app, for the convenience of its customers. Anyone with a cell phone backed up by internet connection can avail of these online services from the SBI mobile app. You can download the app from any of the leading app stores. The app is supported on every major platform.
Thus, it can be concluded that the online services offered by SBI are highly beneficial for its customers. The State Bank of India has changed the whole experience of banking with its quality products and services. The bank also plans to enter the major industrial fields soon in the future.