How to transfer funds online in SBI

I am providing you the steps for transferring the money from SBI to SBI.

1. Login to your Internet Banking with User name and password by clicking the link https://retail.onlinesbi.com/retail/login.htm

After clicking the link, click continue to login.

Enter your User name and password and click Login.

2. Before you transfer funds to another account you will have to add them as beneficiary. This keeps your account secure.

So go to Profile > manage beneficiary. There you will see three options.

2.1 If you want to transfer funds inside the same bank, like SBI to SBI, then use the IntraBank beneficiary

2.2 If you want to transfer money, within the 5 State bank groups (like SBI to SBBJ) then use State bank beneficiary

2.3 To transfer fund to a different bank (like SBI to HDFC), use the inter-bank beneficiary. For this instance, we will go with this one.

3. Enter details like Name, Account number, branch address or IFSC code.
Once done, click on submit.

4. You will get OTP on your register mobile no. Verify it, by going to account verification option.

Beneficiary approval from the bank may take up to one day. This checks if the name and account number are correct or not. Once the status is active, you can proceed with next step.

5. Once the beneficiary is approved by the bank., you are ready to make fund transfer. Go to Payment/ Transfer > Interbank beneficiary.

6. Next select the transaction type as NEFT or RTGS.

NEFT and RTGS are the types of funds transfer. If you are transferring the funds above 2 lac in that case, RTGS is used, otherwise use NEFT.

7. Select the Beneficiary name, enter amount and submit it.

Next page will ask you to verify your details once again, hit confirm if everything is correct or cancel to go back to the previous page.