What are the features to consider when evaluating banking apps?

Smartphones have changed the way, that an individual does banking on an everyday basis. Through online banks, you can now get access to services that were only available at a traditional bank branch. Apps like the SBI, Axis, Kotak, ICIC and HDFC mobile banking apps, provides a wide range of amenities that will cater to your banking needs.

However, before opting for these apps, certain features must be evaluated and verified, to ensure that they match your financial needs.

The following are important features you will need to evaluate before you opt for the banking app:
Fees: Most banks offer the mobile banking software free of charge. In other words, the banking institute itself won’t charge you for downloading and using the app. You will need to verify these charges with your bank to ensure that no specific services within the app, provided by the bank, are charged. However, your network carrier may charge you for certain services and functions. For example, you will be charged for the standard internet usage or any messages you will send through the app.

Deposit Limit: Most of the banking apps provide the service which allows mobile check deposits. Some of the popular apps that provide this service include SBI, Axis, Kotak, ICIC and HDFC mobile banking apps. With this, you can easily get checks transferred using only the app on your mobile phone. However, certain banks will have particular limits on their deposit values, depending on certain factors. This would include timeframes, account types and other additional factors. Therefore, ensure you are aware of the deposit limits before you start making plans to use this service for a long term.

Technology Requirements: Like any other apps, the banking apps will also have specific technology requirements. For example, one Android banking app may require one OS version, whereas the other may need a higher version. Similarly the same can be said for the iOS versions. Even more, these apps may also offer certain features for smart watches too. But like the apps, they too would require specific platforms to function.

Easy to Use: Only the best mobile banking apps will be easy to use. These apps should have an interface that is easy to use especially with your fingertips. If simple functions cannot be performed even with simple taps or swipes on your phone, then it would be more appropriate to use the browser, with the purpose of the app being lost. Therefore, it makes more sense to opt for apps that are designed with an easy to use interface. Some of the popular choices include SBI, Axis and HDFC mobile banking apps amongst many others.

Apart from these features, there are plenty others that you can evaluate and consider. However, in the end, you must ensure that all your requirements are met, without any compromise on your finances.

Mobile Bank Apps: How can you take advantage of it

If you’ve considered using your smartphone only for basic functions such as making calls, playing games, or accessing the net, then it is time to catch up. There are plenty of other activities you can undertake, especially banking services.

Right from routine tasks to emergency tasks, there are plenty of activities you can do through the bank app. Here are some of the reasons why opting for a mobile banking app is a smart move:

Saves time and trouble visiting the bank: You can do more than check your balance on your smartphone through the mobile bank app. You can even open a bank account, apply for a loan of your choice and even apply for a banking card. You can even trade securities and even track your investments. All this can be easily done, without having you to leave the comfort of your home or the convenience of your workplace.

Stay on top of your funds: With the mobile bank app, you are no longer tied to any restrictions that come with the traditional forms of banking. You need not log into your account from a laptop or computer or even visit a nearby ATM or local branch for any of your basic banking needs. With this app, you can easily access your accounts in the fast and simple process. You can now stay abreast of your finances, which is as easy as picking up your phone and sending a message.

Enjoy stress-free transactions with a secure channel: You may make an assumption that mobile banking apps are somehow not as much as secure than logging in with a computer, visiting an ATM or even a local branch. However, each of these bank apps comes equipped with a password and security system that is not only tested by proven. However, on your part, you should only download the app from trusted sites and also be aware of imposter apps that can be posed as legitimate apps.

Get instant alerts: Have you ever wondered whether your transaction had been made to the intended source? Or how much funds are left in your account after paying off your bills? You can easily get instant alerts just by opting for this feature in your app. You can even opt for text alerts if you want a more secure alert system. In this way, you can track all your transactions and detect if there are any unauthorised transactions on your account.

Banking fee free service: Through the traditional banking services, the institute would normally charge a certain amount of fees to access your funds in your bank account. However, through the bank app, this service remains free. However, you need to be aware that your network carrier will charge you for data downloading and texts.


While there are plenty of additional transactions, in the end, you should ensure that you get the required banking assistance from the app that will suit your needs.

Factors to consider when using mobile banking apps

Today’s financial functioning is not what it was a few years back. Through the traditional means, one would be required to approach the bank to see what services are available and then correspond with a representative from the bank to get the ideal financial product or service that would suit one’s needs.

However, in today’s fast-paced life, such a step would not only be tedious, but also time and resource consuming. As a solution to this problem the smartphone, which has now become the modern day multi-function platform, has been designed to perform several financial functions. With the right banking apps, you can now easily track your bank account, make transactions or even request for a passbook or banking cards.

But while these mobile banking apps do offer a convenience in terms of instant access and functionality, you would be required to perform some caution on your part, in order to keep your investment safe.

Here are some factors you need to consider when using the bank mobile app:

Simple User Interface: There are several mobile banking apps available in the online market which you can opt for. However, before you opt to download an app from a bank or financial institute you are familiar with, you need to know if the app has an interface that you are familiar with. This will not only make it easier for you to make quick financial transactions but also allows you to make calculated decisions. After all, you do not want to spend minutes or hours just searching for an option that will allow you to make a simple money transfer on a monthly basis or even check your current transaction.

Security Features: The funds you own is your hard earned reward, so naturally it should be optimally protected. While you may have convenient access to your account and conveniently execute any financial decisions, you would not want any unauthorised individual or entity to access your funds. This is why the bank mobile app you opt for, should have the top, if not the latest security features. The said app should also be in sync with your smartphone’s OS so that there are no risks to your phone, which can affect your banking app too.

Quick results: Banking apps are designed to offer the convenience of financial performance, through the smartphone. But at the same time, the service provided should be quick. You would not want to be opting for a money transfer service that would take hours for the bank or lending institute to verify before making the transfer. Alternatively, if you need to apply for a loan, it should not take several days for your application to be verified before you can get the funds required.

Opting for these mobile banking apps will only be as useful as the service and safety they provide. Be sure you check out these features of an app before you download it.

All you need to know about applying for a two wheeler loan through a loan app

A two wheeler has always been an ideal option for those seeking a convenient transportation. In fact, it is the ideal option for those who are looking to avoid traffic or even peak hour rush. Whether it is in the city, or the rural areas, plenty of individuals have opted for the two - wheeler, as it is one of the most economical investments.

However, applying for a two wheeler loan through the traditional channel will be time-consuming, like any other loan application process. You would be required to submit documents pertaining to your identity, address proof and even your employment and income status. You will need to submit these requirements to the closest bank branch at the appropriate time to submit your loan application.

Nevertheless, there is a convenient option to apply for a two wheeler loan which is as convenient as riding the bike. You can now apply for a loan through the bank loan app and get instant financial aid directly to your account.

Here is how you can go about applying for the bike loan on your smartphone today:

Download the app: This is the first step you need to take. Plenty of banks are now offering loan application apps with different features and services. You can easily opt for a bank app of your preference, or the bank app where you have a current account in. Once you have opted for the bank app of your preference, download it from the appropriate source. If you down load it from any other source, you run a risk of compromising your smartphone and your financial details.

Set up your profile: Once you have downloaded and installed the app, the next step you will need to take is to set up your profile. Here, you will need to input your name and your number for verification purposes. You may also to provide your bank account details to verify your account. Once this is done, you can proceed with the loan application step

Input your income and employment details: In the next step, you will need to input your income and employment details. Once you have inputted the relevant information, you will can calculate your loan eligibility. The app functions as a bike loan calculator providing instant results in terms of EMI calculation, loan value and fixed interest rate results. Once you have settled on a loan value that is to your need, you can then submit your application

Finalise details: Once you are done with the bike loan calculator step, you can move onto the last step. Here you will need to confirm details about your address, your office address and your identity details. Normally these details will already be filled in if you have synced your bank account. But as a precaution, you can confirm these details before proceeding ahead with the application.

How to use the loan app to meet your loan requirements?

You may be facing a situation where you would be required to apply for loans. Whether it is a home loan, a car loan or even a personal loan, you will need to take measures in order to apply for this loan, especially when going through the traditional channels.

However, this aspect changes when you are applying for the loan through the loan bank app. The loan app is the new addition that is taking over the financial market. Just like approaching a bank for an app, you can now apply for a bank loan through a downloadable app.

Here is how the bank loan app can assist you

Step 1: Download the app – Downloading the loan bank app is simple. You only need to check out the Play Store or the App Store for the relevant app. You can even follow the instructions provided by the bank on their website. However, ensure that you download the genuine app, from a genuine source. This is done to avoid any possible counterfeit app, that can collect your personal or bank details and misuse it. Any other app can also compromise your phone, providing easy access for hackers to access your data. 

Step 2: Log in the app with your personal details: Once you have downloaded the app, you will need to secure the log in with your personal details. That means you will need to put in your details, along with a custom password. Once you have secured your log in details with your personal details, you can easily put in your financial details

Step 3: Apply for the relevant loan: There are various loans available in the loan bank app. You can apply for the loan that is relevant to your requirements. You can also check out the current deals and benefits you can avail at that current moment when you opt for that particular loan you want.

Step 4: Log in your bank details:  As a part of the application process, you will need to provide certain documents. This would include your bank account details, your employment details and your income details. You would also need to provide relevant information about your Aadhar or PAN card details. In doing so, the lending institution will register your financial profile and calculate the appropriate loan amount 

Step 5: Check for eligibility and loan rates: Once you have registered the relevant details, you can now proceed with the loan application. The first step you will need to take is calculating your eligibility for the loan. This can be done within the app itself. Once you have satisfied the eligibility criteria, you can easily calculate the appropriate amount that will suit your loan requirements. Once done, you can submit your application through the app.

Step 6: Track loan status: Once you get an acknowledgement of your submission, you can track your status through the status tracker.

What are the key opportunities you can get through a loan application app?

Technology is now changing how consumers shop for loans. While previously, one could easily approach a bank with the relevant application form and documents in order to get a loan, one can now easily get a loan through a banking app.

But what does the app have to offer, that the traditional bank cannot?

For one, the app utilises digital data over traditional banks. Digital data allows for an all-inclusive picture of the applicant, over financial metrics. In fact, through the app, the digital presence of the applicant's profile will be synched with the lending institute. By doing so, lenders get to use the financial and alternate information to analyse the borrower’s credit and offer custom deals or instant loans to the applicant.

Here are some of the key opportunities you can get through the loan application app:

Accountability: There’s a lot more to be shared on the online platform as compared to the traditional channels. Here, consumers can easily access data or any information in mere seconds on the digital platform. Naturally, online lenders will be accountable to all relevant information provided online, while ensuring an excellent online reputation. With the relevant information provided online, consumers can easily make calculated decisions pertaining to their loan applications and get the best instant loans in the matter of mere seconds.

Competitive Pricing: Like the traditional loan application, digital loan offering are also competitive in terms of pricing. Plenty of lenders is now offering loans online through the loan app. As consumers will have to undertake relevant research in order to get the best deals, a loan app will help centralised and streamline the process. All the traditional loan applications will now be available through the loan application app.

Convenience: Every activity we do in today’s day and age can be done remotely, as well as electronically. Whether it is ordering food, booking a ride back home or even investing in stocks, you only need an app to do so. Similarly, you can now easily get loans online with the right app. You can easily get all the relevant details about the loan right from the eligibility criteria, loan amount available, interest rate and even the EMI calculation through the app. This makes it pretty much convenient if you need to get financial aid through a loan on short notice. 

Service: One of the most important aspects of a loan acquiring is the service. In terms of accountability and convenience, service is also another aspect that needs to be communicated to the client. While some consumers may be comfortable with the brick and mortar bank, you get a fast more convenient service through the digital platform, especially if you can access it in the palm of your hand.

Did you know these facts about the bank loan application app?

Today’s financial requirements would require you to apply for a loan at some point in your life. Not only is it financially healthy for your financial profile, but it will also help you plan and save your finances for your future. But approaching a bank for a loan through the traditional channels has now become time-consuming, if not a waste of resources.

This is where the digital platform and progression has played an important role. At a time where everything can be performed through the smartphone apps, loan application apps have now joined this list. In other words, you only need to download the relevant app, register your bank account details and put in the relevant details in order to apply for a loan now. No longer would you be required to approach the bank or carry relevant documents and get them processed in order to get a loan.

But through this app, there is a lot more you can benefit from. Here are some of the different facts of the bank loan and how you can benefit from it:

24-hour access: One of the main benefits of loan application app is the 24-hour access. Since you can easily download the app on your smartphone and access it anytime you would want to, you can easily apply for a loan anytime you would want. This makes a great choice for those who are seeking an emergency financial aid on short notice.

Instant loan eligibility calculation:  As a part of the loan application process, lenders will consider your loan eligibility, based on which, the loan application will proceed. Through the traditional channel, attaining a bank loan would require approaching the bank with your application and documents, and getting them verified by the bank authorities. This would not only be time-consuming, but you would also need to coordinate with the representative from the bank. With the loan app, you can easily calculate your loan eligibility in a matter of seconds. Since the loan application process is integrated into the app, you can easily apply for the app, calculate your eligibility and get approval in mere minutes.

Track your loan status: You can now stay up to date with the progression of your loan status in a matter of seconds. Through the app, you can easily log online to your account and check your loan application status. Furthermore, if you need any more clarification, you can easily request a call back from your bank with a single click of a button.

Get the update and custom loan deals: A custom made loan deal will work in your favour, especially when you are looking for a loan at the appropriate time. The bank loan app will allow you get custom and instant updates based on your personal financial profile, ensuring that you will benefit from the loan application.