SBI Credit Card Bill Payment Through IMPS And NEFT

Why Use Sbi IMPS For Credit Card Payment

Use the SBI IMPS payment facility to:

1. Transfer funds or make credit card payments instantly through multiple ways such as mobile phones, online banking, etc,
2. Make payments through a real-time platform that works 24 hours a day, 7 days a week and 365 days a year,
3. Pay not only SBI credit card bills but also mobile bills, utility bills, travel tickets, etc,
4. Safety, reliably and economically transfer funds or pay credit card bills, and
5. Join the growing network of SBI IMPS facility, which is faster, economic and user-friendly.

How To Make An SBI IMPS Credit Card Payment

1. Login to the SBI online banking facility using Username and Password. You must be registered for online banking to avail this facility. If you have not used the internet banking facility earlier, internet banking credentials can be obtained online. You can also speak to the customer service representatives of SBI Bank, who can help you to login to the SBI online banking portal.
2. Once you have successfully logged-in to the SBI internet banking portal, click the 'Continue To Login' tab.
3. Locate the 'Payment and Transfer' tab, and click the same.
4. Once you clicked the 'Payment and Transfer' tab, you shall find the 'IMPS' tab and click the same.
5. An IMPS transaction requires you to submit either an MMID or an IFSC code. An MMID can be generated online, while an IFSC code shall be given by your banker.
6. Then provide necessary financial information such as your bank account, which needs to be debited, credit card number, the billing amount, the details of a beneficiary, MMID or IFSC code, contact number, etc.
7. Check for the accuracy of the information you have furnished. If all the details furnished by you are correct, click the 'Confirm' tab. You are done!
8. This way SBI or non-SBI credit card users remit credit card bills using the SBI IMPS online payment service.

Note: If you have not added the beneficiaries for your account, you can do it online. SBIN00CARDS is the IFSC code for making SBI credit card bill payments.

NEFT - An Online Platform For The Transfer Of Funds And Credit Card Bill Remittance

Like IMPS, National Electronic Funds Transfer (NEFT) is also an electronic payment and fund transfer service, which processes interbank and intrabank transactions nationwide. The system processes transactions through electronic messages. Unlike RTGS, money shall not be transmitted on a real-time basis. Transactions are settled in 23 slots a day. Each slot lasts for 30 minutes. The NEFT payment facility is available between 8:00 a.m. and 7:30 p.m. on all working days, including 1st, 3rd and 5th Saturday of each month.

Prime Features of SBI NEFT

1. SBI Bank does not restrict the minimum and the maximum funds, which can be transferred using NEFT. You can process up to Rs.50, 000 per transaction in India.
2. Funds can be transferred through NRO and NRE accounts in India.
3. SBI Bank levies no charges on beneficiaries for inward transactions.
4. The SBI NEFT payment facility is preferred over other traditional payment methods such as Demand Drafts (DDs) and cheques.
5. SBI Bank processes credit card bill payments within 1-2 working days.
6. Needless to say, the NEFT platform offered by SBI is faster, convenient, and more importantly user-friendly.

How To Make SBI And Non-SBI Credit Card Payment Using The SBI NEFT Platform

The following are a few steps to follow to make credit card payments using the SBI NEFT platform:

1. This facility is only available to internet banking users. Be sure to be registered for the SBI internet banking facility. You can do it online within a few minutes.
2. Login to the SBI internet banking portal providing your password and username. In case of a third party transfer, an SBI card must be added as a beneficiary.
3. Furnish your 16-digit SBI credit card number.
4. Furnish your banker name, which should be SBI CREDIT CARD - NEFT.
5. Furnish bank address, which should be Payment Systems Group, State Bank GITC, CBD, Belapur, Navi Mumbai.

Time Required To Process An SBI NEFT Transaction

The time required to process an SBI NEFT transaction is less compared to other bankers. Transactions are settled within 3 business hours. It does not exceed 1 business day.

NEFT vs IMPS

Both NEFT and IMPS are electronic fund transfer and bill payment platforms, but they differ slightly. In case of IMPS, payments are processed instantly whereas an NEFT transaction takes 1-2 business days to process. The IMPS service is accessible 24 hours a day, seven days a week and 365 days a year, but this is not the case with the NEFT service. The IMPS service is freely available whereas the NEFT service is free up to a certain extent.

Credit cards make payments easy for all expenses online and offline while offering various benefits

Find a Card >>