*Please note that the quotes shown will be from our partners

SBI Life Online Payment

SBI Life Online Payment can be made through the Internet banking portal for the State Bank of India. The portal provides online assistance for State Bank's Retail and Corporate customers’ facilities to the user at any place and anytime. The application is created using the latest user-friendly technology and tools. The substructure provides full secure access to banking services for accounts holding customers in over 15,000 branches across India.

Key Benefits of Using Online Payment Process

SBI Life Online Premium Payment is user-friendly, fast, and less cost and time-saving. Here are some more benefits of using the online payment process of SBI:

1. Quick Service

The online payment process is user-friendly, convenient, and fast for the user. It only takes a few steps to process the payments. One doesn’t have to stand in queues for making a payment.

2. Easy to Use

Any kind of payment can be done 24 X 7. The only thing needed is access to the Internet. You can access your account at your convenience from your home or office. Easy features in the systems make the task more easy and convenient to use.

3. Cost-effective

It is a completely free-of-cost facility for the registered customers. Customers can make use of the website portal or the SBI mobile app at their convenience. There are no hidden charges levied to avail online payment system.

4. 24*7 Assistance

Customer can seek assistance anytime 24 x 7. The agent will be easily available to assist you by chat box system. You can even call the bank's toll-free number.

Read More: SBI Life Insurance Policy Status

Different Modes to Make SBI Life Online Payment

SBI Life Online Payment provides the users with a fast and quick online service for all its account holders. Policyholders can pay their premiums online. Various platforms can be used to make the payment. It can be done with the help of credit or debit cards, UPI, Bill Pay, digital wallets, and Net Banking. Here are various methods to pay online using the SBI platform:

1. Payment by Credit Card

In order to make the payment using the SBI credit card, an account holder has to register first. By logging in to the official website of SBI, they must provide their net banking information that is their username and password. From the Bill Payments option, go to the 'Manage Biller' section. Here you need to choose 'SBI cards and payments services Ltd.' as a biller and register for a credit card. Once you have the credit card, you can follow these steps for making the payment:

Step 1: From the pay bill option, select the 'Without Bills' option to pay.

Step 2: Now to pay, click on the SBI card and then proceed to pay

Step 3: Enter the SBI account number for which you want to pay

Step 4: Input the payable amount and click on the 'Pay Now' option to proceed with the payment procedure.

Step 5: Upon confirming the transaction, click on the ‘submit’ button.

Step 6: Online payment will be successful.

2. Pay through SBI Pay App

For making the payment using BHIM SBI Pay App, first, download and then log in using valid credentials. Go to the option 'Pay.' There are multiple options to make the payment. Select the option at your convenience and fill up all the necessary details. Finally, to pay, enter the UPI PIN.

3. YONO App

Of all the credit card-related services provided by the YONO app, SBI Life Online Premium Payment is one. YONO app users who have linked their credit cards using this app can make credit card payments by following the steps given below:

Step 1: Download the YONO app and log in using a valid user ID and password.

Step 2: Find the option 'Credit Cards' and select the SBI credit card to make the payment.

Step 3: Further, go-to option 'My Relationships' and click on that option to proceed.

Step 4: Select the option 'Pay Now' and click on the button to proceed with the payment steps.

Step 5: Choose the type of SBI account from which you choose to make the payment.

Step 6: Further, enter the Payment amount and click on the 'Pay Now' option to complete the process.

4. Fund Transfer

State Bank of India provides you with the services of using the RTGS or NEFT fund transfer option. A policyholder or an account holder can transfer any sum of money through this facility. In order to complete the payment process using these methods, you need to enter the net banking of the bank and complete the process.

Make sure you have all the details with you before proceeding with the steps of payment. IMPS allows you to make the payment instantly. Instant money transfer allows you to transfer money whenever you want, but it has an amount limitation. If you want to transfer more than two Lakh, then opt for the RTGS option for transferring funds.

5. SBI Card Pay Mobile App

Any SBI customer can avail of this facility of the SBI card department by following this step-by-step instruction. In the first place, install the SBI Card Pay mobile app on your android phone from the Google play store. Now open SBI Card Pay mobile app and register your SBI card in the app. Bring the mobile near the POS and complete the payment process.

Difference between Offline and Online Payments Modes

There are still some people who still prefer cash around the world. The offline transactions are convenient. The lender and the receiver are sure of the transaction at a particular moment in time. This process of payment is more trusted as it is the traditional mode of conducting payment. Offline mode of payment does not require any other forms of sources like the Internet or any payment gateways. So, for making the payment, the account holder needs to visit the branch of the bank and submit the details. This process is also helpful for those who are not tech-savvy or can't afford internet services or a mobile device. Thus, this age-old method of making the payment is considered safe and easy for any account holder.

Information Required While Using the Online Premium Payment

Customers will need their user credentials and login password.

At the same time, the right number for their SBI debit or credit card or other cards will be required.

Customers have to take care that they enter the correct details like mobile number and email ID for OTP verification to avoid account lock-out.

You can make SBI Life Online Premium Payment through various modes from the comfort of your home. The online method is time-saving and quick. The best thing is that account holders can transfer money across the world from the comfort of the home. There's no need to stand in long queues for completing the payment. All you need is internet access and a mobile device.

You May Also Like: HDFC Life Online Payment

FAQs

  • Q1. What is Online SBI?

    A1. Online SBI is the worldwide Internet banking facility authorized by the State Bank of India for its customers. SBI is India's largest and commercial bank, and it allows making payments using the online mode across the world. Apart from making payments, it allows the customers to access their transaction details, account information, and statements.

  • Q2. How secure is SBI Life Online Payment?

    A2. SBI Life Online Payment allows you a completely secure medium for the transaction. It uses strict security systems to ensure that all your transactions are safe. The SSL encrypted medium is known to provide the highest level of security on the Internet. SBI uses it and hence makes the online payment system safer for all its customers.

  • Q3. Why is SBI Internet Banking useful?

    A3. Internet Banking is the most easy-to-use way to connect to a bank at any time, anywhere as per convenience. Without thinking about the day, you can access the details of the account as well as make payment even on holidays. Irrespective of time, even at midnight, you make payments using the internet banking facility of SBI.

  • Q4. I do not have a computer, and can I still make online payments?

    A4. Yes, even without a computer, you can still make online payments using the SBI internet banking facility or YONO app from your mobile phones. In that case, make sure you have a proper internet connection on your mobile device.

  • Q5. Can I make a payment without an SBI bank account?

    A5. No, without an account with SBI, it's not possible to make online payments using any method of SBI Life Online Payment. Opening an account with SBI is easy, so visit the nearest branch and open an account or you can also apply online for opening an account.

  • Q6. How can I download account statements online?

    A6. SBI internet banking facilities or mobile apps enable the users to download the account statements online. From the 'My account section' of the profile, you can access the statement and also download it.

  • Q7. What are three modes of fund transfer in SBI internet banking?

    A7. IMPS, NEFT and RTGS are three modes of transferring funds from SBI internet banking.

  • Q8. Can I transfer money to some other Bank account?

    A8. Yes, you can add the details like account number and IFSC and transfer the amount from your SBI account to any other bank's account holder's account.

  • Q9. Do I need an active mobile number for online Payment through SBI?

    A9. The mobile number registered with SBI must remain active for conducting online payment as you will receive an OTP on it for verification.

    Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

Written By: PolicyBazaar - Updated: 03 May 2021
You May Also Want to Know About
How to Check LIC Policy Status, Details, Statement via Online/SMS/Call
How to Check LIC Policy Status, Details, Statement via Online/SMS/Call Last year, Mr. Rajiv Verma bought a Child LIC policy to provide financial security for his kid’s future. However, due to time constraints or negligence, he forgot to pay its ...
LIC Online Payment - A Complete Guide
LIC Online Premium Payment India’s only public sector investor, LIC is the most recognized and trustworthy name in the Indian life insurance domain. With its broad variety of worthwhile life insurance instruments categorised across different s...
How to Check PLI Status?
How to Check PLI Status? Dating back to February, 1884, PLI (Postal Life Insurance) is one of the oldest life insurers in the country. Started as a welfare scheme to provide benefits to the employees of the Postal department, PLI has really come...
LIC Login Online: LIC Customer Login Process at Online Portal
LIC Login: LIC Customer Login Process at Online Portal The LIC login portal is user-friendly and the customers can easily avail the online facilities at the comfort of their homes or offices from anywhere in the world. All you need to do is crea...
Life Insurance: Checking Policy Status
Life Insurance: Checking Policy Status Buying life insurance policy is the first step towards building a corpus amount for the future. It takes many permutations and combinations to actually choose a life insurance policy, analyzing its benefits...
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL