SBI Saral Account

SBI Saral Account

• SARAL is a simplified version of Corporate Internet Banking with default transaction rights, ideal for Single user entrepreneurs consisting of sole proprietorship concerns, micro enterprise and individual businessmen having non individual account at our branches. The product provides transaction rights to the user involving transfer of funds to own or third party accounts up to a limit of Rs.5 lakhs per day.
• The product facilitates hassle free and safe online transactions like funds transfer, third party transfer, various tax payments and merchant transactions etc. by a single user corporate without the need for elaborate role based account management required in ‘Vyapaar’ and ‘Vistaar’.

SBI Saral Account Features :

1. Single user operated and easy to use
2. Facility to view account information and download account statement
3. Transaction rights on the accounts
4. Facility to schedule transactions for a later date
5. Facility to set beneficiary level limits
6. Facility to set separate limits for DD issue request and tax transactions
7. SMS based OTP for Beneficiary Additions, Fund Transfers, Merchant Transactions etc

Permitted Transactions in SBI Saral Account :

1. Fund transfer to accounts in SBI (Intra bank payments) upto Rs. 5 lakhs per day
2. Funds transfer to accounts in banks other than SBI (Interbank payments) up to Rs. 5.00 lakhs per day
3. Request for DD issue up to Rs. 5.00 lakhs per day
4. Payment of Taxes- direct (CBDT), Indirect (CBEC, CUSTOMS etc) and State Government taxes
5. Payment of EPF subscription
6. Merchant transactions
7. Bill payments
8. Payment to registered suppliers (For instance, petrol/LPG dealers can pay to the oil majors)
9. Application to IPOs through ASBA
10. Participation in e-auction

Separate transaction limits are permitted for the following types of transactions:

To open a SBI SARAL account refer this link – https://corp.onlinesbi.sbi/corporate/sbi/corp_saral.html