Add Beneficiary to SBI: Account holders with SBI Bank can now take advantage of the numerous online facilities offered to manage their accounts easily. One such online service is the transfer of money online using internet banking. But before you can finally transfer money via NEFT, IMPS, and RTGS, you need to add a beneficiary.
Even though it might seem like a hectic and time-consuming process, it is certainly worth the wait. After all, it safeguards your financial security. This post will take you through the simple steps to add beneficiaries to SBI. Keep on reading to find out more.
How to Add Beneficiaries in SBI Net Banking
If you are looking for how to add a beneficiary in the SBI Yono app, follow the below steps.
- Log in to the SBI net banking facility using https://retail.onlinesbi.com/retail/login.htm as the URL.
- Correctly type in your Username, Password, and Captcha Code in the space set aside for these details before clicking on the ‘Login’ button.
- After logging into your account successfully, click on the ‘My Accounts & Profile’ tab. From the options that appear, click on the ‘Profile’ link.
- Next, click on the ‘Add & Manage Beneficiary’ option.
- Enter your SBI Profile Password and press the ‘Submit’ button.
- On the next page that appears, you’ll see multiple options for adding beneficiary in SBI i.e., SBI Beneficiary (Account Holder of SBI), Other Bank Beneficiary 9Account holder of other banks), NPS Beneficiary, and Foreign Outward Remittance Beneficiary.
- Once you select the appropriate option, you have to click on the ‘Add’ option on the new page.
- Enter beneficiary details like Name, Account Number, Transfer Limit and IFSC Code.
- Accept the terms and conditions before clicking on the ‘Submit’ button.
- Check to see whether all details filled in are correct before clicking on the ‘Confirm’ button.
- Next, click on the ‘Approve Now’ option to approve the Third-Party beneficiary.
- Re-enter your password and select the ‘Approve Beneficiary’ option.
- Choose the approval method i.e., Using ATM or Approving via OTP.
- If you select ‘Approve through OTP’, an OTP will be sent to your registered mobile number.
- Finally, enter the OTP and click on the ‘Approve’ button.
By following the above-given steps, you can add beneficiaries in SBI without the hassle. If you approve the beneficiary between 6 AM and 9 PM, the beneficiary will be activated within 4 hours.