Internet banking and its benefits

There is no way around it. Technology has revolutionised the way the world functions, and it has made our lives very convenient and easier to navigate. Banks are no stranger to adopting technology to create a smoother and more secure banking experience. Net-banking is here to stay; from logging in to your account through a PC, to making transactions from a user-friendly e-banking app.

What is internet banking?

Also known as e-banking or online banking, net-banking is a service provided by the banks, which allows you, the account holder, the ability to conduct your banking activities over the internet. This can be done by logging into your bank account through the bank’s website via a pc or a laptop, or through an app on your mobile phone.

You can use this facility to make bill payments, transfer money, open a new account and track your account activity, amongst other things. This service also benefits the banks as they can reach out to their customers and provide them with relevant information, more conveniently.

Why should you opt for e-banking?

There are several advantages when it comes to availing the internet banking apps.

1) Convenience
This is the first and foremost aspect that makes internet banking such an attractive prospect for account holders. You can transfer money and make your bill payments through an e-banking app on your mobile phone, from anywhere, if you have an internet connection (something that every mobile service provider has enabled people to enjoy).

2) Ease of operation
No more standing in long queues and attempt to fill out complicated looking forms, thanks to the net-banking services which require no more of you than to log in to your account and provide the one-time password that the bank generates for every transaction you conduct. 

3) Better rates
Banks find it more convenient and practical to provide customers with online banking services as this frees them from hiring extra staff and space for dealing with customers. This way, they accrue more savings and can then offer the customers these additional savings with better interest rates on deposits and loans. Consequently, banks provide customers minimum, or even zero balance, deposit accounts for online banking.

4) Efficiency
While banks save time and money due to customers opting for e-banking facilities, you can also save time and money by using such services. Consider the time you keep, and the fuel costs you avoid when you make any transaction online. With all that time cut down to a few minutes, you can now use your time more effectively and efficiently.

5) Round the clock service
Online banking doesn't require you to schedule an appointment with a bank executive unless it is necessary for you to meet with the said executive. You can use e-banking services anytime, any day of the week, throughout the year. Emergency situations are less intimidating, and easier to deal with thanks to these facilities.

6) Mobility
This is a convenience, emergency handling and efficiency all rolled into one. With the help of e-banking app, you can make any of your payments or money transfers from your phone. As mentioned already, mobile service providers have made internet accessibility an ever-present part of everyday life for everyone. Thus, internet banking apps have brought your banks into your pockets.

Hope this helps you make a right decision about your banking needs and the facilities you require from a bank. Do check out all the excellent services that all the banks provide through their e-banking apps.

6 best online utility bill payment options in India

How many of us still pay electricity, gas, water, etc. manually? Imagine, there is only a day or two in a week to enjoy your time off with friends and family, and that goes in spending several hours in long lines to pay your utility bills. Disappointing, right? The advent of technology has increased the convenience and comfort of a man.

Utility bill payment is now just a click away. And it is no more restricted to the internet. The excessive usage of smartphones has enabled human beings to make payments on the go. Online bill payment allows the person to:

- Keeps track of transactions
- It is a safe and secure mode 
- Online bill payment eco-friendly
- Can make payment from different bank accounts

So, which are the best utility bill payment options available in India?

Paytm: The most used mobile app for all sorts of payments. From mobile payment to bank transactions to a utility bill, everything can be cleared off on one go. It is a pocket-sized wallet with dozens of features. Paytm i easy to use and authentic as well. The customer service is excellent, and your money is in safe hands. In fact, Paytm makes it a point to send SMS alerts to its customer in case the pending cash in the wallet goes unused for a while.

Bill Desk: One of the top bill payment services in India, Bill Desk is yet another frequently-used medium. All the utility bill can be paid off, in one place. However, this facility is available only in top cities like Mumbai, Delhi, Pune, Ahmedabad, Bangalore, Chennai and Chandigarh.

Maha Vitaran: Maharashtra Government launched the Maha Vitaran service that accepts only electricity bills. Only the residents of the state can access this website to pay off their bills.

HDFC PayZapp: HDFC has been kind to human beings by launching a convenient app for all kinds of payments. Booking tickets, making utility bill payment, recharge and many others are just a click away now. PayZapp carries internet banking feature, which makes it stand out from the rest. The app offers the first timers a 50 percent off on utility bill payment.

Suvidha: Invention of the internet has allowed government initiatives to make their presence felt online. Suvidha is one such enterprise. All utility bills can be paid here, including insurance. And it requires no additional fees!

FreeCharge: One of the largest growing digital platforms, is well-equipped for paying the utility bill. You can do the cashless transaction without any hassle. FreeCharge comes handy in many food outlets as well. Through this app, you can also split the bill. It is apt for individuals sharing a rented apartment.

Worry no more about the bills getting paid off and make your life simple, easy and faster with these online utility bill payment modes.

One step guide to credit card payments – its types and benefits

Have you gone to a grocery store, made the purchase and came across no cash in your wallet? Credit cards are not namesaked, saviours. They cover up all the expenses in quickest and hassle-free manner. All it requires is your signature. The sound of swiping the card might be sweet, but it is not all that fancy when it comes to payment of a bill at the end of the month.
Gone are the days when credit cards were used just for airline or similar considerable dealings. Credit cards have become an essential tool for people to complete their other daily transactions like utility bills, mobile bills, etc. However, the set amount needs to be disbursed by the consumer towards credit card bill payment.

Ways to pay credit card bill:

Technology has eased off most of the pressure from people’s shoulders nowadays. One can make credit card bill payment through online and offline modes
Online payment mode includes:

- Payment through Net Banking: To use the Net Banking facility, one would have to register their current or savings account to it. For credit cards, the ATM pin needs to be used to link the card to the net banking account. Once done with procedures, all the person needs to do is log in with their net banking details in the bank website, choose the ‘credit card payment option’ and pay the bill using a savings account.

- Mobile banking application: Mobile banking is the best innovation for on the move customers. Features of net banking are available on mobile banking as well. Just download the app and follow the same procedures as that of net banking.

- ATM Fund Transfer: ATMs offer 24x7 services. One can pay credit card bill by merely transferring the outstanding amount from their savings or current account to credit card account.

- Autopay: Human beings are understandably having a busy schedule, currently. There is a tendency of missing out on payment of bills. In such cases, autopay option comes handy. It deducts the amount from the customer's savings account automatically. However, the person’s signature is mandated if opting for the service.

- National Electronic Fund Transfers (NEFT): Customers need not necessarily pay the bill through their saving account. With NEFT services, you can pay your bill through any other bank account. One would have to add their credit card number as the payee account number for disbursing the amount through NEFT.

- Real Time Gross Settlement (RTGS): For those who want to settle their credit card bill payment on one go, RTGS is an ideal choice. One needs to have their net banking facility activated on another bank account to carry out RTGS operation. Payment of INR 2 lakhs or more is made through RTGS.

Offline payment mode:

Cash and cheques are the only offline options. You can visit your nearest branch and pay the bill by cash through the counter. A fee is, however, charged for this service. Most of the times banks are shut on public holidays and weekends. At such times, cheques can be deposited in a drop box or a cheque payment machine. These are available outside ATMs or bank branches.

Key benefits of online credit card bill payment are:

- Saves time and effort
- Can be paid at your convenience and comfort
- With IPIN mandatory for online payments, they are generally safe and secure
- Easy track of payment records
- Making online payment saves paper, which is why it is an eco-friendly medium

What are the benefits of net banking apps?

The banking sector has undergone a significant transformation ever since the introduction of Artificial intelligence(AI) technology. The digital world is on constant evolving stage. Modern Consumers today prefer digital. From simpler cashless credit/debt cash transactions to well-equipped net banking apps, financial activities have easy accessibility. 

In the absence of your computer or laptop, mobile banking apps come to the rescue. This app is an answer to all your banking needs. Access your account balance from the comfort of your home. A mobile application takes care of all your necessary utility bill payments, phone recharge or even a fund transfer.

Following are few benefits of using a net-banking app for your financial transactions:

1) Chatbot Assistance:

A chat assistant is an AI or computer program that conducts conversations meant to replicate a human dialogue via auditory or textual means. These bots act as your digital assistants providing you with hassle-free banking experience. HDFC Bank partnered with Bengaluru based Senseforth AI Research to launch the chatbot, ‘EVA(Electronic Virtual Assistant) this year. Similarly, India’s largest and oldest public-sector banking institution embraced the tech with the launch of ‘SIA’ in 2017.  Major banks in India are incorporating the technology to stay updated with the times.

2) Quick access to products and services:
The net banking apps provide fast services to their online customers. Through the app, consumers have the liberty to choose from various financial options available. They can surf through the products at their leisure and then make a decision. The primary purpose of an app is to engage consumers in real time. A consumer can also initiate a speedy request, even if it's about opening an account.

3) Safe Secure banking:
Banks use various security protocols to protect the information of the consumers. The institutions make sure that they use information encryption, the multi-factor authentication system to protect the confidential data of their consumers. Also, banks regularly update the apps with advanced technologies to avoid fraudulent activities.


4)  Go Green, Go Paperless:
Through the app, banks will deliver bank statements directly into customer’s e-mail addresses saving the cost of printing, paper and delivery. The less wastage of paper will be more helpful for the environment.

5) Reward pointers:
A netbanking app provides everything you expect from a bank with some pleasant surprises. A bank might give loyalty points to its customers in the form of discount vouchers for transacting via mobile applications. These points can be redeemable at retail shops, restaurants or movie theatres.


The mobile banking apps provide the opportunity to increase the efficiency of banking services. It minimises human errors, is an automated process and will offer a satisfactory experience to the consumers. Hence, No more long hours at the bank, no more queues and with limited documentation process, enjoy an improved banking service.

Paying Bills Online? Here are the Five Best Apps to choose from!

Post demonetisation, digital wallets have become to go-to space for financial transactions. The country has seen a massive increase in the number of people using digital wallets for transactions, as the country is slowly moving towards becoming a digital, cashless country. And with the limit of digital transactions being increased to Rs. 20,000 everyday, bill payments, fun transfers, A number of banks too, have started mobile banking options with the help of their own apps, as it reduces the cost of handling transactions by reducing the customers need to visit a bank branch. Here are some of the top digital wallets users swear by, that can be used pay bills, make transactions, etc., online”

1. Paytm
It is currently the most widely used, and largest mobile wallet app in India. Patym payments are accepted almost everywhere from the local grocery store, to high end malls. One can use this app not only for bill payments for electricity, water, etc., but to also purchase movie tickets, request for repairs at home, but flight and bus tickets, there’s almost nothing you can’t do with this app.

2. Airtel Money
With the help of this app, users can easily recharge their prepaid numbers as well as pay their postpaid bills, online. Users can also shop via the app, if there are sufficient funds. Safety is not an issue with this app as for every transaction made, a secret four-digit pin is required.

3. HDFC Payzapp
This one-of-a-kind app makes digital payments simplified all over the country and is one of the top platforms for making online bill payments. Apart from this, users can compare flight and hotel tickets, buy them as well as music, and a lot more! After connecting the banks credit/debit card, making physical payments will be a thing of the past.

4. Freecharge
One of the household names currently, this platform is known for targeting the youth with their funky promotions. They are also known for giving out coupons for every recharge or bill payment, which makes for a great saving option for students and even otherwise.

5. Jio Money
Launched in early 2016 by Jio, this digital banking app is one that provides great discounts and offers to its users. Apart from bookmarking frequently visited retailers to make shopping smoother and swifter, this app is also user-friendly and trustworthy, as it records every single transaction made on the app, in case the user needs to go back and check!

Understanding start up business loans; its benefits and types

What are start up business loans?

‘If you can dream it, you can do it,’ Walt Disney had said. Everyone aspires to become a doctor, engineer or entrepreneur as a child. As you grow old, that vision turns into a company, your company will have workforce, and that workforce will bring profit. All of this requires funds. Of course, a single great idea is enough to create a game-changing business. How does one execute it?

Start up business loan assist in executing your dream. Start up business loan means funding a business with little or no history of working capital. Those with strong personal credit score, start up business loan is the ideal solution.

Business-oriented people gain certain perks by opting for new business loans:

- They can be utilised to either boost revenues or gain a competitive edge.
- Leading banks and financial entities are focusing on small and mid-sized companies. With the help of government support and favourable economic position, processing start up business loan has become hassle-free. At the most banks and financial entities would take 2-3 day to disburse the loan.
- Some financial institutions provide tailor-made loans as per the requirement of the business.
- Individual banks do not emphasise on pledging any property or asset to get the loan.

Types of start up business loan:

Line-of-Credit loans:

Just like a credit card comes to the rescue to pay for something that is financially out of reach, line-of-credit loans are used at the time of emergencies and delayed cash flow. Every business owner is recommended to arrange for the loan from their banker. These loans are generally short-term and have low-interest rates. To gain line-in-credit loan, the banker will need current financial statement and latest tax returns of the owner.

Instalment loans:

As the name suggests, these are scheduled payments. Student loan, car loans are some of the examples of instalment loans. How are they useful for start up businesses? New company goes through more challenges than an existing organisation. It is a quick and easy way to fulfil working capital requirements, short-term cash needs, finance for business expansion, salary commitment, timely vendor payment, etc.

Balloon loans:

They are paid off on one go rather than continuous payments. Generally, small amounts are not enough to pay off the mortgage before its due date. In such cases, final payment is required to be made to wipe off the remaining balance. Balloon payments are generally large amounts and paid off after 5-7 years.

Letter of credit:

The owner issues letter of credit to guarantee suppliers from other countries that the right amount would be paid off on time. In case the buyer is unable to make such a payment, the bank will cover the full amount of purchase. Letter of credit is useful for international trade purpose.

The other kind of new business loans include:

- Commercial loans
- Personal loans
- Guaranteed loans
- Secured and Unsecured loans

So, what are you waiting for? Now that you know what is needed for turning your dreams into reality, get to business and make them work.

Bike Loans and its Benefits

In recent years, two wheelers have become the most preferred modes on transport in cities. They are cheaper as compared to cars, easier to maintain, and help wade through traffic congested roads. They also have better resale value and are super convenient. But most two-wheeler companies require a one-time direct cash payment for purchasing these vehicles. In such cases, financial institutions have started to provide two wheeler vehicle loans, to make it convenient for customers to purchase their dream vehicle. Bike financing is easier to acquire, as compared to other loans provided by banks.

Some of the advantages of availing a two-wheeler loan instead of going with an all cash transaction are:

1. It reduces the burden in times of a financial crunch. Since the money to be paid back is at a nominal fixed interest rate, it makes it easier on the pocket to repay a small sum every month.

2. There has been an increase in the number of commuters who prefer to travel via two-wheelers. Due to this, interest rates have been facing a downward slope over the past few years. Interest rates mostly vary from 12-27%, depending on the bank, income range, bike specification, etc.

3. Getting a two wheeler vehicle loan approved is not a very difficult task as it is not mandatory to have an annual income salary within the taxable income range. A basic two-wheeler costs between 55,000-75,000. When a loan is taken up, the amount repaid each month will be lesser as the cost of the vehicle is lesser and there are also very convenient offers, which include low EMI outflow, and only interest.

4. Previously, borrowers needed to wait months before their loans were sanctioned to them. Now, it happens within a day! The process of repaying the amount has also become easy as the time period now varies between 12-48 months. And in case the borrower is unable to pay back the bike loan, an extension for 60 months can be availed as well.

A two-wheeler does not have to be a luxury that one cannot afford, anymore. With the help of loans from financial institutions, 90% of the marginal cost is covered and only 10% is the down payment, which is a very nominal amount, to purchase a bike. Such improvements have made the process of bike financing, hassle-free for the common man.