This guide explains how to set up auto-debit for an SBI Recurring Deposit (RD) account in simple, step-by-step English. It covers prerequisites, activation via SBI Net Banking, FAQs, and pro tips to avoid penalties. Perfect for SBI customers looking to automate RD payments without manual intervention.
Key Highlights:
✅ Steps to link your SBI savings account with RD.
✅ How to create a new RD or enable auto-debit for an existing one.
✅ Solutions for common issues (missed payments, changing dates).
✅ Official SBI resources + user-friendly explanations.
Why Auto-Debit?
Auto-debit ensures your RD payments are deducted automatically from your SBI savings account every month. No missed deadlines, no penalties!
Before You Begin
✔️ Active SBI savings account.
✔️ SBI Net Banking access (username + password).
✔️ Registered mobile number linked to your account.
Step 1: Log In to SBI Net Banking
- Visit SBI Online.
- Enter your username, password, and captcha.
Step 2: Navigate to e-RD Section
- Click “e-Services” → Choose “e-RD” from the dropdown menu.
Step 3: Create or Manage Your RD
New RD:
- Click “Create e-RD”.
Fill in:
- Monthly amount (min. ₹100).
- Tenure (6 months–10 years).
- Auto-debit date (pick between 1st–25th).
- Maturity instructions (reinvest or transfer to savings).
Existing RD:
- Select your RD account → Enable “Auto-Debit”.
Step 4: Enable Auto-Debit
- Check “Auto-debit from my savings account”.
- Select the linked SBI account for deductions.
- Verify with the OTP sent to your mobile.
Step 5: Confirmation
- A success message will appear.
- Auto-debit begins from the next billing cycle.
Pro Tips
💡 Keep funds in your account 24 hours before the debit date.
💡 Missed payments trigger retries for 3 days.
💡 Modify/cancel RD anytime via “e-RD” section.
FAQs (Quick Fixes)
Q1. Can I change the auto-debit date later?
→ No. You’ll need to close the current RD and open a new one.
Q2. What if my SBI account has insufficient balance?
→ A ₹50 penalty may apply. Ensure funds are available!
Q3. Is auto-debit mandatory for SBI RD?
→ No, but it’s recommended for hassle-free payments.
Need Help? Contact SBI Customer Care or visit a branch! 😊
Need More Help?
For more financial tips, visit infofriendly.com.