The internet banking services offered by South Indian Bank is known as SIBerNet, and it allows its customers to avail most banking services with the help of the internet. With the help of SIBerNet, individuals can access various services such as account statement, transfer funds online, and pay bills online. The services are available for customers at any given time.
Apart from individuals, Partnership Firms, Associations, Societies, Trusts, Corporations, and Companies can also avail SIBerNet facilities.
Features and Benefits of South Indian Bank Net Banking
The main features and benefits of SIB Net banking are mentioned below:
- Mini statements can be viewed online.
- All details of the various accounts such as loan, deposits, and savings accounts can be accessed online.
- Funds can be transferred between own accounts as well as to accounts from a different bank.
- Funds can be transferred to a Recurring Deposit account.
- If any loan amount is due, funds can be transferred online.
- Direct as well as Indirect Tax payments can be completed online.
- Individuals can request a cheque book online.
- Cheque payments can be stopped on the online portal.
- Demand Drafts can be requested.
- Profile details can be changed.
- User ID can be updated.
- In the case of transactions, a two-step authentication must be completed. The software is from Infosys, therefore, all transactions are very secure.
- In the case of corporate accounts, accessibility can be given only to a few individuals.
- Beneficiaries can be added to the account in order to make bulk payments.
- High transaction limits can also be requested.
What is the Process to Register or Activate SIB Net Banking?
Before you can register for SIB Net Banking, the below-mentioned details must be followed:
- The status of the account must be active.
- You should not have an existing internet banking account.
- In case of joint accounts, you must visit the branch in order to avail the internet banking facility.
- Online registration of internet banking facility can only be completed by retail customers who have an active ATM card. Corporate customers must visit the branch in order to avail of this facility.
- You must link your mobile number with the account and the number must be active.
The step-by-step procedure to register for SIBerNet is mentioned below:
- First, you must visit the official website of South Indian Bank (https://www.southindianbank.com/).
- Next, under the ‘Online Banking’ tab, click on ‘New Registration.’
- On the next, page, click on ‘Continue to Register’.
- Next, click on ‘New User Registration’.
- On the next page, you must enter the 16-digit account number, the registered mobile number, and the verification code.
- Click on ‘Continue’ once the above details have been entered.
- You will receive an OTP on your registered mobile number. Click on ‘Submit’ once you have entered the OTP.
- On the next page, you must enter your card details. Click on ‘Submit’ once all the details have been entered.
- On the next screen, you must enter the preferred User ID, Login Password, and Transaction Password details to complete the internet banking activation process.
What is the Process to Login to SIBerNet?
The step-by-step procedure to SIB login is mentioned below:
- Initially, you must visit https://www.southindianbank.com/.
- Next, click on ‘Login (Existing Users)’ which can be found under the ‘Online Banking’ tab.
- On the next page, click on ‘Continue to Login’.
- On the next page, you must enter the User ID, Login Password, and select the ‘Default Login Page’. Click on ‘Login’ once these details have been entered.
- The next page will be the main page of your SIBerNet portal.
What is the Procedure to Reset the Password on SIBerNet?
The step-by-step procedure to reset the password is mentioned below:
- First, you must visit the log in page of SIBerNet (https://sibernet.southindianbank.com/corp/AuthenticationController).
- Next, you must click on ‘Forgot Password?’
- On the next page, you must select ‘Set passwords online using Debit Card’ and click on ‘Continue’.
- On the next page, you must enter the User ID and the account number. Click on ‘Continue’ next.
- Next, you must enter your card number, ATM Pin, and the expiry date of the card. Click on ‘Continue’ once these details have been entered.
- You will receive an OTP on your registered mobile number. Enter the OTP and click on ‘Submit’.
- On the next page, you must set your new Login and Transaction password. You are allowed to change both the passwords or either one. The password must be set as per the instructions that have been provided. Click on ‘Continue’ once the passwords have been entered to complete the procedure.
How to Check the Balance using SIB Net Banking?
The step-by-step procedure to check the balance on SIBerNet is mentioned below:
- First, you must visit the login page of SIBerNet.
- Next, you must enter your User ID, Login Password, and select the Default Login Page.
- Next, click on ‘Login’
- Next, under the ‘My Accounts’ tab, you must click on ‘Operative Accounts’.
- On the next page, you will be able to check the account statement as well as the mini statement. By clicking on ‘Account Statement’, you will be able to download the statement as well.
What is the Process to Transfer Money on SIB Net Banking?
The step-by-step procedure to transfer money on SIBerNet is mentioned below:
- First, you must login to your SIBerNet portal.
- Next, under the ‘Funds Transfer’ section, you must click on ‘Third Party Fund Transfer’ to transfer funds to another South Indian Bank. In case you want to transfer funds to an account from another bank, you must ‘External Funds Transfer’.
In case of transfers to an external account, the below-mentioned fields must be selected:
- Debit account
- Registered payee
- Network (In case of payments above Rs.2 lakh, RTGS must be selected)
- Next, you must select the type of frequency. In case of a single transaction, you must select ‘One Time’ and in case the transactions are repeated, select ‘Recurring’.
- Next, you must choose the transaction date. You can choose for the transfer to occur at a later date as well.
The step-by-step procedure to add a beneficiary is mentioned below:
- First, you will need to log in to your net banking portal.
- Next, under the ‘Fund Transfers’ section, you will find ‘Add or View Payee/Beneficiary’, click on it.
- Beneficiaries with a South Indian Bank account as well as an account from another bank can be added. However, it will take an hour to add a beneficiary from another bank and an OTP will be sent to your registered mobile number.
- You must provide relevant details such as payee name, reference name, network, IMPS, account number when adding a beneficiary. The account will need to be confirmed twice.
What are the Transactions Limits on SIB Net Banking?
The transaction limits on SIBerNet are mentioned in the table below:
SIBerNet Personal Users
Transaction type Daily limit for 1 factor authentication Daily limit for 2 factor authentications Within an own South Indian Bank account A maximum of Rs.5 lakh No OTP is required Third Part South Indian Bank account A maximum of Rs.10,000 Above Rs.10,000 but below Rs.5 lakh Funds to another bank A maximum of Rs.5,000 A Rs.5,000 but below Rs.5 lakh.
- SIBerNet Corporate Users
|Transaction type||Daily limit for 1 factor authentication||Daily limit for 2 factor authentications|
|Within an own South Indian Bank account||A maximum of Rs.25 lakh||No OTP is required|
|Third Part South Indian Bank account||A maximum of Rs.10,000||Above Rs.10,000 but below Rs.25 lakh|
|Funds to another bank||A maximum of Rs.5,000||A Rs.5,000 but below Rs.25 lakh.|
Individuals can find out their transaction limits by clicking on ‘Inquiring Facility’ which can be found under the ‘General Services’ section. Individuals can then select ‘Transaction Limit Summary’ to view the details.
Individuals can also make changes to the fund limit on the online portal. This can be done by clicking on ‘Personalise Limits’ which can be found under ‘General Services’. Next, you must provide the start date and end date as well the transaction type and channel type. You will need to enter the OTP as well as the Transaction Password in order to change the limit. Upon pre-closure, the bank approved limits will be effective from the next day.
Payment of Credit Card bill on SIBerNet
South Indian Bank customers must register for the net banking services as well as link the credit card with the net banking account to pay credit card bills online. Once the registration process is complete, you can either pay the credit card bill by either giving standing instructions for a fixed amount of money to be paid on a monthly basis or by NEFT. In the case of NEFT, the procedure is the same as transferring money to a bank account. However, setting up standing instructions will ensure that you do not miss any credit card payments.
Services Offered in SIB Net Banking
There is a wide range of services which customers can avail on the SIBerNet internet banking service. Listed below are the various categories.
- View all details of all your accounts held with SIB such as savings account, deposit account, loan account, etc.
- View a mini statement of your account.
- You can view, save and print the pass-sheet from any of your active accounts for any time period.
- Request for an enquiry about the status of your cheque you have issued.
- Make a lien inquiry.
- Enquire about the status of the nominee named in your account.
- Inquire about the interest rates applicable for Deposit Accounts.
- Take a print out of the Pass-sheet of any of your loan accounts for any duration.
- View details of Flexi Fixed Deposit linkage.
- Easily transfer funds between any of your active SIB accounts.
- Transfer funds to other active SIB accounts.
- Transfer funds securely to non-SIB accounts via NEFT or RTGS.
- Make payments for online purchases and pay utility bills with ease.
- Recharge your prepaid mobile or DTH connection easily and conveniently.
- Transfer funds to an SIB Loan account.
- Transfer funds into a Recurring Deposit account.
- Make direct or indirect tax payments easily via internet banking.
- Set standing instructions.
- Request for a new cheque book or a Demand Draft.
- Open a deposit account online.
- Request for stopping payment on a cheque.
- Request for a simulation of pre-closure of your loan or deposit account.
- Register for mobile banking via SIBerNet.
- Link your Aadhaar number with your bank account easily.
- Request to have your transaction limit for daily fund transfers increased.
- Place a request from the internet banking site to have your debit card blocked online.
- Easily change the 2-factor authentication mode for your account.
- Request an inquiry into the transaction limit set.
- Personalize your fund transfer limit.
- Easily apply for IPO subscription.
- Easily change your banking User ID.
The message center is a part of your online SIB account which allows you to securely send instructions and receive messages from your concerned Relationship Manager.
- With the help of internet banking, you can choose to receive alerts from the bank’s system about all your account related activity.
- Receive timely alerts for deposits which may be about to mature, loan repayments due, low balance in your account, etc.
- Receive regular alerts regarding fraud risk management.
SIBerNet allows users to easily personalize their accounts. Users can choose to put a nick name for their different SIB accounts for easier identification. One can also change the date and amount format set in the account for display. Account passwords can also be changed.
The SIBerNet internet banking site offers deposit and loan modelling tools so customers can make more informed credit or investment related decisions.
- The SIBerNet website employs highly advanced Second factor authentication and Digital Certificate from Verisign (offering 128-bit encryption), to ensure complete security of high value transactions.
- The SIBerNet website is fully compliant with Global Standards in terms of implementation of multiple layers of security features such as antivirus and firewalls.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.