Reasons why you need mobile banking now?

In this fast-paced world of technology, banking has become a revolutionary experience. Now more and more ways have come that make banking easier and one of them is the facility of mobile banking. These days’ consumers are opting for the easier method of mobile banking for bill payments, loans and other purchases. All you need to do is download a mobile banking app related to your bank account and avail all the facilities on the interface. Mobile banking apps also let you keep a track of your expenses or sift through multiple accounts, all at one time.

Some consumers however remain worried about theft of information or breakage of security by these online means. However, you can be assured about the safety through IMPS or other modes since most banking apps guarantee the same. The benefits of banking online have been in existence for years now and have crossed the hurdles of theft or misuse with ease. Following are the list of reasons as to how and why this facility is becoming more and more popular in today’s times.

1. Ease of Access - Accessing your account is easier than ever. From running errands to bill payments or purchasing any item online, you can avail your banking facilities on-the-go and avoid the hassle of staying glued to the ATM or bank. It is as easy as picking up your phone and accessing your account, whenever, wherever. Just a few simple clicks do the magic.

2. Convenience on the go - You can make use of your free time by doing other things instead of running to the ATM. With the ease of the internet, online banking offers convenience at your disposal. If you are someone who needs to perform transactions or money transfers on a daily basis or make online bill payments regularly, this facility would pose as a blessing for you!

3. Free of cost - Ever heard of the saying, ‘the best things in life come free to us?’ Online banking is free of cost and does not require any additional charge. Just download the app and link it to your bank account. Your phone provider charges might be applicable.

4. Decisions made instantly - Some banking apps offer you the facility to make decisions instantly, by offering approvals on the go. This means you do not have to wait for a few days more to get important information, pertaining to your account, approved. Thus, this service facilitates your business and lets you be at ease while making important decisions.

To avail these offers or acquire more information regarding the same, you can also get in touch with your bank.

How Can Internet Banking Benefit You Today?

Almost the entire world has shifted base to the virtual sphere for all their needs these days. With the internet at our disposal, nothing is impossible anymore- be it shopping, purchasing tickets, shopping for groceries, ordering for food, booking cabs or calling for home doctors. The internet has made our lives so much easier.

Added to this is internet banking; a blessing in disguise, internet banking has been one of the most beneficial aspects of internet services. However, the larger section of the society still prefers the traditional mode of banking where they physically go to the bank to get their needs sorted.  This is because, either they are technologically handicapped or if not, then they are sceptical. To this section of the audience who are yet to explore the wonders of internet banking, this article is for you.

To begin with, the bank services on the internet are divided into two categories namely;

• Transactional- Transfer of funds, payment of bills, loan application, loan transactions.
• Non-transactional- This involves activities such as requesting chequebooks, checking online statements, updating your details and stop payments.

The benefits of internet banking are numerous, some of them being;

• Opening an online account is easy-peasy and hassle-free.

• Avoid the hassle and discomfort of standing in long queues; avoid the headache of keeping track of truckloads of bills and other unnecessary pieces of paperwork.  Enjoy the benefit of viewing all your transactions online.

• Internet banking is available round the clock. You can use it whenever you want. If there is a sudden emergency and you immediately need a huge amount of cash, internet banking is your easy solution. Conventional banking is restrictive because banks remain closed on Sundays and other public holidays.

• Internet banking is super quick and super efficient. The transaction process from one bank account to the other happens at lightning speed. Also, managing more than one account had never been so easy before.

• Internet banking is highly beneficial in keeping a constant watch on your bank account. This all-time monitoring benefit helps to prevent the chances of any fraudulent activities.

• Internet banking also gives the banks a solid platform to recommend their best products and quality of service.

• Many senior citizens find it difficult to physically go to banks and sit or stand on a regular basis because of their various health ailments. For such customers, internet banking is a godsend facility.

As listed above the benefits of internet banking are many. There will be cons as there is to every situation but what you need to consider is if the pros outweigh the cons for you specifically. Internet banking has definitely lessened the degree of a hassle for many people, and more and more people are opting for online banking services as the years go by.

What are the benefits of applying for business loan online?

Business loans are indispensable to the growth of any establishment, big or small. A bank loan for business can be harnessed to boost up the inventories, to procure more business apparatus, to finance new ventures, to allow seamless administration and to fulfil a plethora of other miscellanies that an up and running business needs. Not only that, a business loan for new business could be of great advantage as it will help in giving the business a head start.

Business loans can help us in achieving our dreams and what more the process of acquiring a loan can become absolutely hassle-free if you could apply for it online. With this, you do not need to make an appointment with an agent. Instead, you get to know all the details pertaining to the loan on your mobile app or your device at one go. So, without much ado, let’s give you an overview of what are the benefits of applying for a business loan online.

1. Eligibility criteria: What are the criteria to apply for a bank loan? Know whether you fulfill the requirements, instantly by just filling up an online form. It will take only a few minutes and you are spared the pain of going through a gruelling interview with the bank representative to know whether you make the cut or not. And of course, that happens only after you have briefed him/her your thorough details, a lot of which would not go down with him/her on the first attempt.

2. Know the pros and cons: You probably would not want to apply for a business loan without knowing the pros and the cons. Now, different banks have different sets of features related to loans. After you apply for a business loan online, you can check the pros and cons and compare them with the benefits provided by other banks. Then you can choose a bank that best suits your requirements. By availing the services online, you can do all of these on your own and from one place. In short, get the details from various portals before you choose that single portal which fulfils your business needs.

3. Be self-dependent, get to know all the miscellanies:  What are the major things that you need to know about before applying for a bank loan? These include interest rates, processing fee, tenure, whether the bank is providing Dropline overdraft facility and other such miscellanies. Know everything by just applying online. The business loan app is just a breath away, just waiting there to serve your needs.

Two Wheeler Loan: Why you need to apply for a loan online

Are you planning to get a new two-wheeler? Does the cost of the bike or scooter seem just out of reach for you? Do not fret as you have the option of taking a two-wheeler loan from any good institution. This means that you can purchase the bike of your dreams quite easily without having to go beyond your budget.

While you can visit the lender’s office to get your two-wheeler loan sanctioned, this procedure takes quite long and you also end up wasting some of your money in the process. It is best to apply for the loan online, which would make the entire application process much smoother and streamlined.

Here is a look at some of the ways in which an online bike loan application will benefit you.

1. Saves time and money
With the online procedure, you do not need to manually visit the bank or the lender’s office for the application. This office may be at some distance from where you reside, which would mean you have to pay a hefty conveyance fee to get there in the first place. However, when you apply online, all you need is an internet connection and a smartphone or computer. You can apply for the bike loan quite easily, without experiencing any hassle.

2. Comparison of rates
When you manually visit the lender for a loan application, you are less likely to compare the rates offered by other lenders. This means that you may not get the best deal and may end up paying greater interest on your loan than you really need to. However, when you apply online, you have the opportunity to compare the interest charged by the various other organizations. You are free to choose the lender you like and make an informed decision regarding the same.

3. Calculating the exact EMIs
Two-wheeler loan calculators are specialized tools present online. These tools allow customers to determine how much they would have to pay each month, if they do decide to sign up for such a loan. To calculate the same, all you need to do is enter the principal loan amount, rate of interest charged and the tenure of the loan. The calculator will show you the exact EMI amount that needs to be paid.

Consider these factors while applying for a loan and you will understand why online application is the best option out there. Check the interest rates carefully before applying for any loan and have a talk with the representative from the lender’s company.

What are the advantages of applying for an education loan online?

An education loan is often vital in order to attend the best colleges and earn the best degrees. Since many courses are only offered in foreign institutes and universities, your children may need to go to these places, which can further increase the overall cost that you need to bear. Like all other loans, education loan applications can be made online. In fact, there are certain advantages in applying for the loan online.

Advantages of education loan application online

Here is a look at some of the benefits of online education loan application:

1. The entire process becomes absolutely hassle-free, as you do not need to visit the bank branch and stand in a queue to get the form. Instead, you can get the online form from the site of the bank itself, and then fill it up and submit along with all the other necessary documents. Apart from saving time, the online application also saves the conveyance money that you would need in order to visit the bank.

2. Due to the greater freedom offered by this online procedure, you are free to make your own decisions on the loan amount and you would not be goaded or forced by bank employees to take a greater education loan than what you really require. Apart from this, you can check out all of the loan options, so that you can determine which loan is best for your child’s education.

3. An important factor to consider before applying for any loan is the interest charged for the same. There can be a substantial difference in the education loan interest from one bank to the next. So, in order to get the best deal, you need to perform a distinct comparison of all the rates offered by the banks. In a manual education loan application, this is rarely possible and people neglect this step. However, for the online application, you can easily check out the rates of all institutions and take the loan accordingly.

4. Most banks and money lenders now ask for the credit score of the applicant. This is a scale of how good you are at repaying loans and paying off credit card bills. The higher the score, the easier it is to get a loan. In the online application, you can easily check your score using certain tools on the internet.

Do not forget to check the education loan interest in you do apply for the same online. Make sure you would be able to repay the same with ease.

Take advantage of these benefits of gold loan when you apply online

Gold loans have been quite popular in the country as a majority of Indian households owns this valuable metal that can be used as collateral. This is one of the many reasons why we consider gold to be such as an asset. Now, add to the gold loan the convenience provided by online banking and there you have a winner of a combination. Most of the major banks have come up with a plan in which you can apply for a gold loan online and thus enjoy the bst of both worlds.

Why should I take a Gold Loan?

The benefits of taking a gold loan are multifold:

 Transparency
The commercial houses which are entitled to give gold loans have a strict policy of Transparency. They don’t indulge in any hidden charges whatsoever. All the terms and conditions are straight forward and all the information is provided clearly.

 Low interest rates
The interests on gold loans are reasonable. The commercial houses uses gold loan EMI calculator. This calculator helps you find out how much EMI you would need to pay for the borrowed amount against the gold.

 Flexibility in repayment
Commercial houses have a policy of flexibility with the EMI schemes. A consumer can take an additional loan after a certain period of time simultaneously with the current loan amount and if they want to clear off their dues, there are no extra repayment charges.

 Doorstep services
The commercial houses aims at maximizing customer care facilities. With a sensitive asset like gold, the commercial banks/financial institutions offer doorstep services to ease out the trouble. 

Procedure:

 Meeting the eligibility criteria
The eligibility criterion of a gold loan is not stringent at all. If a person who is at least 21 years old with a valid identity proof can prove his/her claim of owning the gold, he/she will be eligible for a gold loan. 

 Reserve rates
Financial institutions have a flexible reserve rate against gold. This is the rate which deducts a certain amount from the value of the loan because of fluctuating market risks and incase if the consumer fails to pay the amount, the loss needs to be accounted for. 

 Quality inspection
Finally the loan is sanctioned when there is an approval by the authorities about the purity and weight of gold according to which the loan is sanctioned for.

Other advantages of gold loans:

 Security
Gold is an asset which can be stored for future use, it can be liquefied whenever the owner deems so. The rates are fluctuating and there’s a possibility that in the future the value of it might double. The gold that is mortgaged can be used over and over again for a long period of time.

 Low risk
Being emotionally attached to a gold ornament in a household, the borrowers end up either pre paying the amount or clear all EMIs on time which is an added advantage.

 Speedy sanction
Gold loans do not require days and months to get sanctioned. It’s only a few minutes job. No long procedures are required. The complete process of approval and sanction of the loan depends on the quality of the gold provided and its verification.

Car Loan: Why Applying A Car Loan Online Will Benefit You

Buying a car is one of those special occasions that call for a round of celebrations. It is a grand affair not only because it signifies a certain degree of stability in life but also because a lot of investment goes into it.

An investment that is just not just a one-time thing but something that is life-long. You can make the process of your car investment a little smoother by opting for a car loan. If you are only ‘thinking’ about taking the loan online, then let us tell you that there are many benefits of carrying out this process online. Some of these are;

• First and foremost, a car loan enables you to pay monthly instalments instead of making a one-time payment. Many banks will give you hundred percent financial help on the ex-showroom cost. Plus online loans give you the benefit of making a quick application. This means that you can buy your dream car right away.

• When you say online car loan application, the first thing that pops into your mind is ‘convenience’. The online process is simple and hassle-free; you don’t need to wait in long queues and go through hours and hours of paperwork. You can fill out the online car loan form while sitting comfortable on your couch or bed with a steaming cup of hot beverage beside you.

• When you apply for a car loan online, chances are that it will get approved faster, as most bank services that are online based are less nitpicky when it comes to the point about credit scores.

• When it comes to car loan interest rate, it is much simpler when the application process is carried out online. An online car loan interest rate will be lower and will also give you the chance of negotiation. And since online loan services tend to bother less about credit scores, the possibility of a low credit score affecting the interest rate will also be less.

• Online loan applications mean that there will be 24*7 hours service. So, in case you make an impulsive decision to get a car by the end of the week with the help of a car loan, you should ensure this happening online, as it will save time, save you hassles and will also end up getting the car you ‘actually’ want instead of settling for a compromise.
The points stated above are only a few of the benefits that have been mentioned that will act as your starter pack for applying for that car loan. The thought of a tricky car finance process shouldn’t deter you from buying something so important in your life.