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State Bank of India Credit Card Payment Online

By: EconomyWatch Content Date: 23 February 2010

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The State Bank of India (SBI), the largest commercial bank in India, is widely acknowledged for its diverse line of financial products. SBI, however, was slow to develop its online services, in comparison to the other multinational and private banks, such as HDFC and ICICI. Nonetheless, the bank has, over time, built a comprehensive and secure online account operation service, which includes online checking account status, balance transfer and SBI credit card e-statement. You can make your State Bank of India credit card payment online through various methods.

State Bank of India Credit Card Payment Online: Options

The State Bank of India offers the e-Pay service to its cardholders for making online payments towards their SBI card. A part of SBI Internet banking, the e-Pay service can only be availed by those cardholders who have a savings or current account with SBI. Cardholders can make payments through e-Pay by simply furnishing their user ID and password, and accessing SBI online banking.

PayNet is another alternative for State Bank of India credit card payment online, which can be availed by SBI and non-SBI account holders. PayNet entails linking a Net banking account or a debit card to the PayNet account for making payments towards the SBI credit card bill. Around 20 non-SBI net banking accounts are accepted under the PayNet service, including that of Bank of Baroda, Corporation Bank, Indian Overseas Bank, ICICI and HDFC. The steps involved in a PayNet transaction are:

Step 1: Furnishing payment details, including the 16-digit SBI card number, the payment amount and the payment option-Net banking or debit card. Additionally, cardholders can provide their contact details, including email and telephone number, for easier correspondence.
Step 2: Confirming payment by furnishing authentication details of the preferred bank, such as the non-SBI bank’s user ID and password.
Step 3: Reviewing online confirmation. SBI provides an online transaction reference number and email acknowledgement on successful completion of the transaction.

It is advisable to print a receipt of the transaction for future references. Also, bear in mind that while the amount is debited from the nominated bank immediately, it may take up to three days to credit the SBI credit card account.

Finally, State Bank of India credit card holders can opt for the ECS or auto debit service online. State Bank of India, however, offers the ECS service to only cardholders in major metro cities in the country, which are Bangalore, Delhi, Hyderabad, Kolkata and Mumbai.