SBI the largest public sector bank in the country has more than 15,000 branches and has a broad portfolio of products and services. SBI has 5 associate banks namely, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, and State Bank of Travancore.
SBI has a highly secure internet banking portal known as OnlineSBI which provides online services to both retail and corporate customers. The application has been supported with the latest technology software and hardware. The powerful infrastructure of SBI safeguards the banking services of all the 15,000 branches in India.
Retail Internet Banking of SBI
The Retail Internet Banking service of the bank offers an unending list of services to cater to the customer needs. Listed below are some of the prime services offered by the Retail Internet Banking segment of SBI:
- Allows one to transfer funds
- Offers a suite of investment options such as fixed, flexi, recurring deposits etc.
- Book an air, rail or, bus ticket online
- Book a hotel
- Online shopping
- Allows instant recharges
- Western Union Service
- Filing e-tax
- DEMAT and IPO services
- Setup standing instructions, and
- Other value added services
Corporate Internet Banking
SBI also offers corporate banking services through its web portal OnlineSBI. The service allows corporate customers to perform banking activities anytime as per their convenience. The following options come along with the Corporate Internet Banking service of the SBI:
- Convenience banking which allows you to operate your account sitting anywhere
- It engages a checker model to make transactions fully secure
- You can transact using the portal 24x7
- It saves your time and cost
- Allows you to pay your bills and taxes
- Comes with a file upload facility
- Transfer money to SBI accounts
- Transfer money to other banks accounts
- Make online payments to registered suppliers
- Collect and remit fees
- Easy reconciliation
- Apply to IPOs online
The internet banking service of SBI allows customers to perform a wide range of activities online, but at the same time it ensures that they transact over a secure medium. SBI online platform offers the greatest level of security available for internet transactions using an SSL encrypted medium (minimum of 128-bit to maximum of 256-bit SSL tunnel). EV SSL certificate is an evidence to the fact the SBI’s servers shield you from all malicious attacks and unauthorized websites and encrypts each and every session. Here are some of its features:
- VeriSign one of the world’s leading internet certification authority provides the certification for SBI
- Search for the padlock symbol in the address bar or status bar to verify the security certificate. The padlock symbol won’t be locate outside of the page display area
- Clicking the padlock will display the VeriSign Certificate attesting the authenticity of SBI’s website
Customers too have a role to play in securing their online transactions. Here’s are three important things you can do to safeguard your transactions:
- Never share your password with anyone
- Keep in mind that bank officials will never contact your for account related information
- Set a strong password and change it at regular intervals
Each SBI customer is issued with a unique User ID and password which is generated in way that the details are only known to them. It is protected from unauthorized entry or viewing in a number of ways as follows:
- Your account gets locked if wrong password has been entered three consecutive times
- Your account gets logged out if you leave your session idle for an extended period of time. For example 5 minutes.
SBI Net Banking FAQs
1. Who can opt for Corporate Internet Banking?
All non-individual customers of the bank including firms, non-agency banks, government departments, trusts, corporations, enterprises, and the like can avail the Corporate Internet Banking service of SBI.
2. What is extended validation SSL certificate?
Extended Validation Secure Sockets Layer certificates run on high security web browsers to detect a website’s identity. It helps you identify which website is genuine and which one is not.
3. Why is there a need to implement SSL certificates?
It prevents a customer from malicious or suspicious activities on the internet and improves security to a great extent.
4. What are the key features of Corporate Internet Banking?
- Allows tax payments
- Online EPF payments
- Supplier payments
- MIS reports generation
- Salary payments
5. Is Retail Internet Banking facility available for associate banks of SBI?
Yes, all associate banks offer the Retail Internet Banking service.
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GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
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