SBI Personal Banking

SBI is a bank that has its headquarters at Mumbai. It is one of the premier banks in India. It is easily the largest Bank in India with a wide presence across the country. It is a public sector bank known for the number of banking and financial services it provides to a number of people who are residents and non-resident Indians. With the merger of a number of subsidiary branches in its fold, its presence across the different states has increased. SBI also has branches outside India. The SBI personal banking facility has helped them to scale down the number of persons who visit the branch on a given day and has made it possible for them to help people engage in digital transactions that are safe and secure as preferred by the present government.

Personal banking

SBI Online

When you are an account holder in any one of the branches of the SBI, you become eligible to apply for the SBI net banking facility meant for individual account holders. This is also called by personal banking. It is rightly called so because it offers the individual account holders to carry out maximum transactions from within the comfort of your home. The big personal banking facility could be used effectively for inquiry as well as transactions. This means there is no need to visit the SBI branch but for major purposes which is to remit cash and also to clarify any doubts, you may have with your accounts.

The inquiry and transactions

The benefit of having a big personal banking facility can be considered under two heads.

  • Inquiry
  • Transactions

By  virtue of the SBI personal banking facility, you will be able to learn about your

  • Account balance
  • Mini statement
  • Account summary
  • Account details
  • Monthly statement

About the deposits which include

  • E-TDR/STDR
  • SBI Flexi deposit
  • E- Recurring Deposits
  • E- annuity deposit schemes
  • STDR or ETDR that are related to income tax saving.

About loans

  • Loan availed
  • Interest
  • Loan amount pending
  • Standard orders, if any

About Credit cards

  • The credit card balance.

You can view as well as download these details when you are equipped with the power of sbi personal banking.

The transaction aspect

The big personal banking by default also offers transaction rights to its users. The transactions would mostly encompass payments. It would include

  • Funds transfer- this includes both inter and intrabank transaction
  • IMPS
  • NEFT/RTGS
  • Credit card payments
  • Bill payments for utilities like electricity, telephone etc, for which the SBI has the authorization to issue receipts.

This way, the sbi personal banking has made people advance and progress towards digital transactions in a large way. The inquiry, as well as transactions, to be made on an individual account by the account holder are just a few clicks away as long as you are maintaining a sufficient balance in your account.

The sbi personal banking facility offers NEFT, RTGS, and IMPS funds transfer processes to the beneficiaries chosen or make payments or one can make payments through the links provided by merchant websites for paying the bills and even the credit card dues effectively from the convenience of their home. When you are paying for utilities you are likely to get the printed receipts as we’ll for the SBI is authorized to provide receipts.

Availing SBI personal banking facility

There are 2 ways in which you can avail the service.

  • Registering for sbi personal banking facility by visiting the parent branch
  • Registering online using your debit card on your own.

Registration by visiting the branch.

This again is of two types. Procedure meant for those who do not have an account and the procedure for those who already have an account in the SBI branch.

SBI Personal Banking Registration by visiting the branch

If you do not have an account at SBI, you need to open an account.  An account at any one of the branches of SBI is mandatory to avail sbi personal banking facility. You can open a savings bank account by providing the KYC documents and the initial amount to be paid to open an account. You would get a welcome kit once the account has been opened. In it, you would have the username and password for net banking which you can use to activate the net banking facility. In case you are an account holder who wishes to activate the net banking facility at present, You can visit the SBI branch in which you have the account which is called the parent branch and fill out an application form for the same. On receipt of the application that is duly completed with all essential details, you will be provided with the username and password that you can use to activate the sbi personal banking facility.

How to Register SBI Personal Banking online?

If you are not an account holder in SBI, you can open a savings bank account online as it is mandatory to have an account in the SBI bank to apply for sbi personal banking facility.

  • Visit the home page of SBI at onlinesbi.com
  • You would find a link “Online SB Account Application” there.
  • You can download the form for account opening under the link Registration forms.
  • Fill up the form and visit the nearest SBI branch. Make sure you carry your KYC documents, original and photocopies as well as two passport size photographs.
  • Approach the staff at the branch and make the initial deposit.
  • Once your account is opened you would receive a welcome kit in which you will find the username and password that you should use to activate the sbi personal banking

NRI – Register for SBI Personal Banking online

  • Download and fill the NRI Application form.
  • If you are on a visit to India visit the nearest SBI branch with details as above and your passport original in hand.
  • You will be able to open the account as well as avail the sbi personal banking

If you are already an account holder wanting to activate sbi personal banking facilities now online by yourself, there is no need to visit the branch. You can do it yourself if you have the debit card and you have registered your mobile number with the bank.

The procedure

  • Open the SBI official website
  • Click on the New user Registration option you will find under the personal
  • You will find a popup will appear on the screen. Click the OK This would open up a new window.
  • Fill up the details which include
  1. CIF No– this is the number you will find on the first page of your passbook on the top to your left.
  2. Branch code– You can find this in your passbook. Alternately you can even click on Get Branch Code option to know or check the branch code.
  3. The facility required– Choose the option Full Transaction Rights and click on the submit button.
  • You will receive an OTP to your registered mobile number. Enter the OTP in the space provided and click the Confirm
  • In the next screen choose I have my ATM card (online registration without branch visit) option and click the Submit
  • Enter the card details requested for, the PIN number and then click on the Submit
  • Click on the Pay option
  • You will get a temporary Username
  • Now enter the New Login Password, confirm New Login Password and then click on
  • You have successfully registered for Internet Banking.
  • You could use the temporary username for the first time login.
  • You have to log in the first time to set up a login password and profile password for further transactions.

Does SBI internet banking involve any cost?

There will be no extra charges for availing sbi personal banking. But however, when you do transactions such as Fund transfers through NEFT and RTGS the charges would apply.

Transacting using SBI personal banking facility

Inter Bank Transfer

This refers to the electronic transfer of funds from your account to the beneficiary account maintained in any other bank branch. The interbank transfer is of two types. The RTGS and NEFT. The NEFT transactions are used to make transfers that are less than 10 lakhs. However, there is no minimum amount. RTGS is meant for fund transfer involving minimum 2 lakh and the maximum amount that could be transferred is 10 lakhs.

The process of RTGS transfer

RTGS stands for Real-time Gross Settlement. The RTGS settlement time is between 9 am-4.30pm on weekdays as well as 9 am to 2 pm on Saturday. However, the timing might vary in the bank branches.

  • Login to your sbi personal banking
  • Click on funds transfer tab
  • Click on Add beneficiary, and then select transfer to another bank as beneficiary type. Then add the beneficiary account details or credit card number.
  • Transfer funds to the beneficiary added.
  • Keep your mobile phone handy as you would be able to complete the transaction only after you mention the OTP sent to complete the transaction.

Filling the beneficiary details include filling up details such as the remitter’s account number, beneficiary bank or branch, beneficiary account holder’s name, beneficiary account number, the ifsc number of receiving branch.

SBI NEFT Transfer procedure

NEFT usually operates in half hourly batches. This means that there would be 23 settlements in a day starting from 8 am to 7 pm on all working days including those Saturdays which are working Saturdays. When you wish to make fund transfer through NEFT, you would have to first register the person as a beneficiary. It includes filling in the account number, the account holders name, the bank branch and the IFSC code. You would receive a message once the beneficiary has been added to the list. Once it is done, you can transfer the funds to the beneficiary in a click of a few buttons. When you make fund transfer through NEFT, the beneficiary will be credited within 2 hours. In case, you initiate fund transfer through sbi personal banking past the Neft timings, it would be honored on the next day.

IMPS

This is supposed to be a funds transfer procedure that is faster than NEFT and RTGS meant to be done by phone but, it can be done through net banking as well. the beneficiary in the other two processes is referred to as payee in this case. You can then make payment to the payee from the list. The transfer would be instant and you would get SMS about the relevant status as well.

The sbi personal banking will help in inquiring, downloading and transacting by staying within the comforts of your home. You can also make interbank transfers to make fixed deposits, recurring deposit etc. also using personal banking. But you would have to be careful when you use sbi personal banking. You should not disclose the username and password to anyone and should log out without fail after making transactions.