SARAL is one of the products offered by statebankofindia, an online banking facility for a corporate-like structure. Read on to know more.
What is SARAL?
It is a simplified single-user transactional product ideally suited for sole proprietorship concerns, micro-enterprises, or individual business people who require an online transaction facility in their business accounts. The product delivers transaction rights to the user involving the transfer of funds to own or third-party accounts up to a limitation of ₹5 lakhs/day.
- Single-user operated, user-friendly, and straightforward.
- Your account – Your full right.
- Facility to view account details and download ‘Account Statements’ of your account.
- Fund transfer to accounts in SBI (Intra bank payments) up to ₹ five lakhs/day.
- SMS-based OTP for Beneficiary Additions, Fund Transfers, Merchant Transactions, etc.
- Facility to transmit your funds to SBI accounts(other than your accounts)
- Other Bank Accounts (GRPT/RTGS/NEFT)
- Merchant Payments
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The amount transferred to these three types in a single day should be at most ₹25.00 lacs.
- Facility to transfer funds to your accounts.
- Maintained in the same branch up to ₹ 25.00 lacs/day
- Held in different branches up to ₹25.00 lacs/day
- Facility for making requests for DD issue and Bill Payment up to ₹5.00 lacs per day(Consolidated limit of ₹5.00 lacs, i.e., in one day, the entire amount of Demand Draft request and Bill payments should be at most ₹5.00 lacs).
- I-collect payments up to ₹25.00 lacs/day.
- Supplier payment up to ₹25.00 lacs/day.
- Facility to partake in e-auction for government departments up to ₹1.00 Crore/day.
- Facility to pay to govt. And semi-govt. Institutions, including taxes and statutory dues such as EPF, OLTAS, CBEC, and ICEGATE, up to ₹2 Crores/day.
- Users can manage the display of their accounts through hide/unhide functionality.
- Facility for online inquiry of transaction status.
- Facility to plan transactions for a later date.
- Facility to specify account nicknames.
- Facility to specify beneficiary level limits.
- Facility to designate different limits for Demand Drafts, issue requests, and taxation transactions.
This facility is obtainable at all branches of the State Bank of India. You need to contact your SBI Branch to subscribe.
What is the SBI Corporate Saral Account?
The SBI Corporate Saral Account is a specialized banking service offered by the State Bank of India (SBI) specifically designed to meet the banking needs of corporate customers. It provides various features and benefits tailored to the requirements of businesses.
What are the key features of the SBI Corporate Saral Account?
The key features of the SBI Corporate Saral Account include:
No minimum balance requirement
Convenient online banking services
Free multi-city cheques
Instant funds transfer through NEFT and RTGS
Cash handling services
Dedicated relationship manager for personalized assistance
How can I open an SBI Corporate Saral Account?
To open an SBI Corporate Saral Account, visit the nearest SBI branch and speak to the bank’s representative. They will guide you through the account opening process and provide the necessary forms and documents required for opening the account.
What documents are required to open an SBI Corporate Saral Account?
The documents typically required to open an SBI Corporate Saral Account are:
Completed account opening form
PAN card of the company
Address proof of the company
Identity proof and address proof of authorized signatories
Specimen signature of authorized signatories
Board resolution or authorization letter, as applicable
Is there any minimum balance requirement for the SBI Corporate Saral Account?
No, the SBI Corporate Saral Account does not have a minimum balance requirement. This makes it suitable for businesses that want to maintain flexibility in their account balances.
Can I access my SBI Corporate Saral Account online?
Yes, SBI provides convenient online banking services for the Corporate Saral Account. Once you have the account, you can register for Internet banking and access your account online to perform various transactions, check balances, and view account statements.
Are there any charges or fees associated with the SBI Corporate Saral Account?
The specific charges and fees associated with the SBI Corporate Saral Account may vary. It is recommended to refer to the official SBI website or contact the bank directly to get accurate and up-to-date information regarding the charges applicable to the account.
Can I avail cash handling services with the SBI Corporate Saral Account?
Yes, the SBI Corporate Saral Account provides cash handling services, which allow businesses to deposit or withdraw cash conveniently at specified SBI branches.
How can I get assistance for my SBI Corporate Saral Account?
For any assistance related to your SBI Corporate Saral Account, you can contact the bank’s dedicated relationship manager assigned to your account. They will provide personalized support and address any queries or concerns.
Is the information provided in the article accurate and up-to-date?
The information provided in the article is based on the knowledge available during writing. However, verifying the details and any updates directly from the State Bank of India (SBI) or their official website is recommended for the most accurate and up-to-date information.
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