Five Ways to Pay Insurance Premium
The HDFC Bank allows you to pay your insurance premium through NetBanking. There are five ways in which you can pay your insurance premium. Here’s a summary of each.
To get started, you must check if your insurance agency is a part of HDFC Bank’s List of Billers. You can also make the payment if you have an insurance with HDFC Life.
HDFC Bank PayNow
The bank provides its customers with a hassle-free way to make payments of utility bills and Insurance premiums. The HDFC Bank PayNow lets customers pay all these and more at the convenience of their homes and without having to register themselves for payments. The PayNow option is available on the bank’s website. You click on the type of bill you want to pay, in this case, an Insurance premium. Choose the agency that will receive the payment, key in your details and make the payment. You can use your HDFC Bank Credit or Debit Cards to make the transaction. The bank charges a fee of Rs10 per transaction using PayNow. A confirmation of the transaction is sent to your email.
Register & Pay
If you are a user of an HDFC Bank Credit Card, you can choose Register & Pay to make all payments, including your utility bills and Insurance premiums. You need to complete a short registration process, and then you’re good to go. You can also make your payments automatic by choosing the AutoPay option. This will make sure that timely payments of your insurance can be made through your Credit Card automatically. The bank charges a fee of Rs10 for every transaction using Register & Pay.
SmartPay is a transaction option available to HDFC Bank Credit Card users. Either you can send the self-attested bill along with the registration form to the bank branch, or you can choose this option online. You can log on to NetBanking and go to the Credit Cards tab. You can then click on the transact tab and choose the SmartPay option from the dropdown menu. If you have registered on SmartPay, you will receive regular reminders for your scheduled payments in the form of SMS alerts on your registered mobile number. The process provides a seamless platform for the customer to pay Insurance bills using Credit Cards. Through this option, the customer can also avail of Reward Points and CashBack on each transaction. There are no added charges for this mode of payment.
BillDesk Bill Pay
This is a secure and fast way of paying your insurance premium using your HDFC Bank Credit Card or Debit Card. You can use this portal to pay insurance premium online. The HDFC BillDesk Bill Pay gives you two options to pay your insurance premium. You can either choose to pay right away or register yourself before making the payment. You can find the portal on the bank’s website. If you want to pay right away, you can select the biller location and agency name from the drop down and make a quick payment. Otherwise you can register and pay the premium.
Standing Instruction on Credit Card
With this facility, you can pay for your insurance premiums online using your HDFC Bank Credit Cards. Standing instruction on credit card can help you automate your insurance premium payments. This will make sure the premium is paid on time and could also earn you CashBacks.
So, which way will you pay your insurance premium now?