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SBI Bank

SBI Bank

SBI Bank (State Bank of India) is an Indian Multinational Public Bank and financial services. It is a statutory body headquartered in Mumbai, Maharashtra.

History of SBI Bank

Renamed as Bank of Bengal in 1809.

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Established as the Bank of Calcutta on 15/04/1840.

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Now 3 banks, namely Bank of Bengal, Bank of Bombay and Bank of Madras established in 1806, 1840, 1843, respectively. They were merged and named Imperial Bank of India in 1921, which was later renamed as SBI (State Bank of India) in 1955 by the RBI ( Reserve Bank of India ).

SBI Offerings

  • Personal Internet banking
  • Loans
  • Saving Account
  • Current Account
  • Online payment of Tax
  • Corporate Internet Banking
  • Mobile banking
  • Receipt/tax/challan/payment printing

SBI Loans Offered

  • Home loan
  • e-MUDRA
  • Gold Loan
  • Vehicle Loan
  • Xpress credit
  • Pension loan
  • Retailer Finance
  • Personal loan

SBI Bank Gold Loan 

Interest Rate 7.30% p.a. onwards
Loan Amount Up to Rs.50 lakh
Loan Tenure Up to 3 years
Processing Fee 0.25% of the loan amount + GST

SBI Gold Loan is available with a loan amount of up to Rs.50 lakh and an interest rate of 7.30% per annum. The repayment period is up to three years, with a processing fee of 0.25% of the loan amount.

Criteria for Obtaining an SBI Gold Loan

Individuals who wish to apply for a loan under this Gold Loan scheme must meet a few basic eligibility requirements.

Age – To be eligible for this scheme, a borrower must be at least 18 years old.

Income – An applicant must have a consistent source of income. He or she could work in any profession and be able to repay the loan.

SBI Gold Loan Documents Required

ID Proof – A valid, government-issued ID (PAN card, driver’s licence, voter’s ID, etc.)

Address verification – A valid, government-approved address verification (Utility bill, Passport, DL, etc.)

Photographs – Two passport-sized photographs of the applicant are required.

Form – An application form that has been duly completed and signed.

SBI Bank

SBI Bank Personal Loan

SBI Bank offers its customers personal loans at reasonable rates and with easy instalments. Some key highlights are listed below:

Key Highlights

  • Quick disbursal of the loan amount.
  • Low processing fees
  • Minimal documentation is required.
Interest Rate 9.60% p.a. onwards
Loan Amount Up to Rs.20 lakh
Minimum Income Required Rs.15,000
Loan Tenure Up to 6 years

SBI Bank Car Loan

Customers of the State Bank of India can get car loans with interest rates ranging from 7.70% to 13.25% and terms of up to 7 years.

Key Features:-

  • SBI Car Loan Benefits Competitive EMI and car loan interest rates
  • 7-year repayment period
  • Financing is available for the On-Road price.
  • Interest is calculated on the basis of the Daily Reducing Balance.
  • There is no EMI in advance.
  • SBI offers optional life insurance coverage.

SBI Bank Home Loan

The State Bank of India provides attractive interest rates on home loans beginning at 6.80% per annum. SBI is offering a 70 basis point interest concession with rates starting at 6.70 % per annum and no processing fee. This offer is valid until March 31, 2021. The loan term can be extended for up to 30 years, allowing for a more comfortable repayment period. These loans have a processing fee of 0.35% of the loan amount (minimum Rs.2,000; maximum Rs.10,000) plus applicable taxes. SBI Home Loans also offer a 0.05 % interest rate reduction to female borrowers. They are one of the most popular housing loan products in the country because there are no hidden fees and no prepayment penalties.

Interest Rate 6.80% p.a. – 7.50% p.a.
EBR 6.65%
Loan Amount Based on eligibility
Processing Fees 0.35% – 1% of loan amount
Prepayment/Foreclosure Charges Nil
Max Tenure 30 Years
Rate Packages Available Floating

SBI Bank Credit Card

A credit card is a payment card that is issued to a cardholder and allows the cardholder to pay a merchant for goods and services based on the cardholder’s outstanding debt (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges). The card issuer (typically a bank or credit union) opens a revolving account and provides the cardholder with a line of credit from which the cardholder can borrow money to pay a merchant or for a cash advance. SBI bank also provides its customers with the option of obtaining a credit card, which can be useful during a financial crisis or when there is a low balance required for payments.

SBI Credit Card Variants Annual Fee Suitable For
simply click SBI Card Rs.499 Online shopping
SimplySAVE SBI Card Rs.499 Shopping (Everyday)
Yatra SBI Card Rs.499 Travel
FBB SBI STYLEUP Card Rs.499 Co-branded shopping
BPCL SBI Card Rs.499 Fuel
IRCTC SBI Platinum Card Rs.500 Co-branded travel
Air India SBI Platinum Card Rs.1,499 Travel
SBI Card PRIME Rs.2,999 Premium & Lifestyle
SBI Card ELITE Rs.4,999 Premium & Lifestyle
Air India SBI Signature Card Rs.4,999 Premium & Travel

SBI Bank Net banking

State Bank of India (SBI), India’s largest public sector bank, provides net banking services to its customers, both retail and corporate.

How to register for net banking facilities

Follow the below steps to register for the net banking facility with SBI online.

Step 1: Go to https://www.onlinesbi.com/ to access the official internet banking website.

Step 2: Select ‘New User Registration/Activation’ from the drop-down menu.

Step 3: A confirmation window will appear on the screen confirming that you did not receive an internet banking kit. Click the ‘OK’ button.

Step 4: From the drop-down menu, select ‘New User Registration’ and then click ‘Next.’

Step 5: On the next screen, enter your account number, CIF number, branch code, country, registered mobile number, and the facility you want to sign up for. Also, make sure to enter the captcha code correctly. If you can’t figure out the branch code, you can look it up using the ‘Get Branch Code’ option. To obtain the branch code, enter the state and the branch name.

Step 6: In the ‘Facility Required’ field, choose from the following options: view, limited transactions, or full transactions.

Step 7: Press the ‘Submit’ button.

Step 8: A one-time password (OTP) will be sent to the registered mobile number. Enter the OTP on the screen and press the ‘Confirm’ button.

Step 9: Check the box next to ‘I have my ATM card’ and click ‘Submit.’

Step 10: Now, enter the ATM card information on the screen and press the ‘Submit’ button.

Step 11: A temporary username will appear on the screen; make a note of it.

Step 12: Create a password that follows all of the rules and is easy to remember. To finish the registration process, click the Submit button.

SBI Bank  Customer Care Number

You call on any of the following numbers

Toll-free number: 1800 11 2211
Toll-free number: 1800 425 3800
Toll number: 080-26599990

For reporting Unauthorised Electronic transactions

  1. 1800 11 1109 (Toll-Free)
  2. 94491 12211 (Mobile number, Toll-Free)
  3. 080 – 2659 9990 (Toll number)

E-mail us at

customercare@sbi.co.in
contactcentre@sbi.co.in

Or Text us on

Unhappy with services: SMS UNHAPPY to 8008 20 20 20
Missed call Banking @ SBI QUICK

Or Write to SBI on

Customer Service Department
State Bank of India
State Bank Bhavan, 16th Floor
Madam Cama Road,
Mumbai 400 021
Tel: 022-22029456
Fax: 022 22742431

SBI Bank Customer Complaints

  •  What should I do if my account has been charged in an unauthorised manner?

You should contact your bank and file a dispute, as this is an option available to all customers. This dispute can be resolved by visiting the bank in person, by phone, or by emailing bank support.

  • Are ATM transactions charged to customers?

The RBI has mandated a minimum number of free ATM transactions. However, banks may increase the number of free transactions or charge fees for additional transactions at ATMs. For more information, please visit the website of the bank where you have your account.

  • Who is in charge of issuing these cards?

Banks issue debit cards that are linked to a bank account. Banks typically issue credit cards. Banks or non-banks give prepaid cards or wallets in exchange for money paid in advance by the cardholder and stored in such cards.

How to Open a Savings Account in SBI Bank

Online Method:-

  • Visit the State Bank of India’s website at https://sbi.co.in/web/personal-banking/accounts/saving-account.
  • Click the “Apply Now” button.

SBI Bank 

  • Select Sbi Savings Accounts.

SBI Bank 

  • Fill out the application form with your information (name, address, date of birth, and so on) and click the submit button.

SBI Bank

  • Once the information has been submitted, the bank will notify the applicant that they must visit the branch with the necessary KYC documents – proof of identity and address.
  • When the documents are submitted, the bank will begin the verification process.
  • The account will be activated within 3-5 bank working days after approval.

Offline Method:-

Customers must follow the steps outlined below to open SBI savings account at any SBI Bank branch.

  • Visit the SBI branch that is most convenient for you.
  • Request an account opening form from the bank executive.
  • Applicants must complete both sections of the account opening form.
    Form 1 contains the following information: name, address, signature, and various other details and assets.
    Form 2 – If a customer does not have a PAN card, they must complete this section.
  • Check that all of the fields have been filled out correctly. The information on the application form should match the information on the KYC documents that have been submitted.
  • The customer will now be required to make an Rs.1,000 initial deposit.
  • The account holder will be given a free passbook and chequebook as soon as the bank completes the verification process.
  • Customers can submit the internet banking form at the same time.

How to Open a Current Account in SBI Bank

An SBI Current Account can be opened by completing and submitting an application at a bank branch. The application is available in the bank as well as on the SBI website. To comply with the bank’s KYC verification policy, the applicant must submit all required documents. In the case of a company or partnership firm opening an account, applicants must submit copies of the certificate of incorporation. Along with passport-size photographs, proof of identification and proof of address must be submitted.


SBI Bank FAQ’s

What is the minimum balance in SBI bank current account?

The minimum balance in the current account is Rs. 5000.

What is the SBI interest rate on a saving account?

The rate of interest of the SBI saving account is 2.75%p.a.

Can I open an SBI account online?

You can open a savings account with the State Bank of India (SBI) online. They provide several good savings account options, and if you want to apply online, you have two options: the Insta Savings Account and the Digital Savings Account. You may select any of them.
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