5 advantages of using mobile banking

A money transfer app is one of the easiest and convenient ways of making financial transactions using the apps provided by the respective financial institutions. Mobile banking can be defined as the facility that is provided by the banks to their clients. Through Mobile internet banking, the customer can conduct all their financial transactions with their bank from the convenience of their home. In today’s digital age, any individual can take of their financial transactions from their mobile banking apps, all they need is a mobile device and a good internet connection to carry out their transactions. Transactions that place through mobile banking include online payment of bills, locating an ATM, fund transfer, list of latest transactions. An online money transfer app also offers advanced security by sending alerts or notifications on the registered mobile number, on the account’s activity.

An individual can easily track all their transactions online and provide the customers of tracking their transactions through the internet banking apps. Mobile internet banking will not provide a direct access to the ATMs, but they can make provisions for the customer to use the ATMs at different financial institutions and retail stores where they will reimburse the customers for ATM charges. The features of mobile internet banking include getting text alerts on all the financial activities of the customer making it convenient for them. Any individual who wants to use mobile internet banking will need just a device and good internet connection like a Wi-Fi and a 4G network. Internet banking through mobile devices has made banking easy, fast and convenient for their customers.

5 advantages of mobile banking:

1. Available all time from anywhere:
A money transfer app allows the customer to carry out a transaction at any point of the day from anywhere. Since the customer will just need their device with the app and a good internet connection, the customer can carry out the transaction from anywhere.

2. No paperwork required:
While making transactions or doing any type of banking activity from a bank the customer will have to fill out a lot a paper work to handle them. But, with a money transfer app the customer has to just know all the features provided by the app.

3. Super-fast service for customers:
With a good internet connection, all the transactions done by the customer will be done fast making it convenient for the customer.

4. Transactions updated instantaneously:
All of the transactions are updated as soon as they are completed, and the customer will easily be able to check all the transactions done by the customer.

5. Wide range of services:
Mobile internet banking provides their customers a whole range of services to ease their banking activities.

Best mobile banking apps for money transfers

The act of making financial transactions online through mobile devices is known as mobile internet banking. Mobile banking includes a lot of features that are offered by the financial institutions. Through mobile internet banking, a customer can conduct all their financial transactions, paying bills or send money abroad from the comfort of their homes. In today’s digital age mobile banking is a convenient option for the customers. Customers can conduct any activities of the bank from anywhere. Mobile internet banking has made it easy for their customers to make transactions from anywhere. The customer just needs a good device and good internet connection.

The feature of conducting transactions online through a mobile transfer app will provide their customers the option of tracking all their bank statements or transactions through net banking apps. An online money transfer app is fast and allow the transactions to be carried out between accounts with out any hassles, especially if the two accounts are held by the same financial institution. Internet banking allows the customer to provide direct access to the ATMs, but they can also make provisions for the customer to use ATMs at the other banks and the retail stores which will be reimbursed for the ATM charges.

Best mobile banks for money transfers:

1. ICICI Bank Mobile application:
The mobile app by ICICI is one of the best high rated mobile banking applications in India. This banking app allows the user to transfer the funds, pay the credit card bills and pay the utility bills, open fixed deposits and the recurring deposits and manage life insurance policies.

2. Axis Bank’s Axis Mobile application:
The money transfer app provided for the customers of Axis bank is famous because of the stability of the app. One innovative feature offered by this app is that it will allows the user to schedule credit card payments for a specific date. This app also offers the feature of converting their credit card payments to EMIs, block the cards, or temporarily deactivate debit cards or set limits on debit cards.

3. SBI’s anywhere personal application:
SBI Bank has a number of mobile banking apps for all sorts of services. This mobile banking app has the mCash feature which allows the customers to transfer the funds to a mobile number or email-id.

4. Bank of Baroda’s M-connect plus application:
The M-connect plus app is the upgraded version of the Banks official app for mobile internet banking. This app allows the customer to make card-less cash withdrawals from Bank of Baroda ATMs, it also provides an overall view of the account details.

5. HDFC Bank mobile application:
HDFC is one of India’s largest banks and the mobile banking app provided by HDFC is packed with a lot of features to make the lives of customers easy and convenient. The HDFC mobile banking app allows the customers to transfer funds, make credit card payments and also pay utility bills.

Best mobile banking apps for money transfers

The act of making financial transactions online through mobile devices is known as mobile internet banking. Mobile banking includes a lot of features that are offered by the financial institutions. Through mobile internet banking, a customer can conduct all their financial transactions, paying bills or send money abroad from the comfort of their homes. In today’s digital age mobile banking is a convenient option for the customers. Customers can conduct any activities of the bank from anywhere. Mobile internet banking has made it easy for their customers to make transactions from anywhere. The customer just needs a good device and good internet connection.

The feature of conducting transactions online through a mobile transfer app will provide their customers the option of tracking all their bank statements or transactions through net banking apps. An online money transfer app is fast and allow the transactions to be carried out between accounts with out any hassles, especially if the two accounts are held by the same financial institution. Internet banking allows the customer to provide direct access to the ATMs, but they can also make provisions for the customer to use ATMs at the other banks and the retail stores which will be reimbursed for the ATM charges.

Best mobile banks for money transfers:

1. ICICI Bank Mobile application:
The mobile app by ICICI is one of the best high rated mobile banking applications in India. This banking app allows the user to transfer the funds, pay the credit card bills and pay the utility bills, open fixed deposits and the recurring deposits and manage life insurance policies.

2. Axis Bank’s Axis Mobile application:
The money transfer app provided for the customers of Axis bank is famous because of the stability of the app. One innovative feature offered by this app is that it will allows the user to schedule credit card payments for a specific date. This app also offers the feature of converting their credit card payments to EMIs, block the cards, or temporarily deactivate debit cards or set limits on debit cards.

3. SBI’s anywhere personal application:
SBI Bank has a number of mobile banking apps for all sorts of services. This mobile banking app has the mCash feature which allows the customers to transfer the funds to a mobile number or email-id.

4. Bank of Baroda’s M-connect plus application:
The M-connect plus app is the upgraded version of the Banks official app for mobile internet banking. This app allows the customer to make card-less cash withdrawals from Bank of Baroda ATMs, it also provides an overall view of the account details.

5. HDFC Bank mobile application:
HDFC is one of India’s largest banks and the mobile banking app provided by HDFC is packed with a lot of features to make the lives of customers easy and convenient. The HDFC mobile banking app allows the customers to transfer funds, make credit card payments and also pay utility bills.

Benefits of mobile internet banking

Mobile internet banking is a way of conducting financial transactions online through a mobile device. The feature of mobile internet banking includes a lot of activities such as getting an update text from the financial institution on the usage activity or using the app to send funds abroad. Through mobile internet banking a customer can easily bank or make transactions from anywhere at any time. In today’s digital age, where almost everybody owns a smartphone the feature of using apps for mobile internet banking makes the process of making transactions convenient and easy for the customers.

Mobile internet banking also provides their customers the option of tracking all the transactions through the internet banking apps. Mobile internet banking does not provide direct access to the ATMs, but they can make provisions for the customer to use the ATMs at other banks and the retail stores where they will reimburse customers for ATM charges. For performing transactions online, the customers will need a device where they can install the application and they will need a good Wi-Fi and 4G network for making the transactions. The process of mobile internet banking is easy, convenient and fast for the customers.

Benefits of mobile internet banking:

1. Make transactions from anywhere:
An individual who wishes to make transactions do not need to visit the bank counters every time, with the introduction of mobile internet banking a customer can easily conduct all their transactions through applications.

2. Transactions at any time:
Any one who wants to make a money transaction or conduct any type of transaction with a bank may not worry about timings anymore. With the mobile internet banking apps, a customer can make transactions in the middle of the night.

3. Transactions updated automatically:
Transactions done by a customer will automatically get updated to the bank account and all the statements of the bank account will be recorded and updated, so if the customer has any query regarding their bank statements or transactions, they can just use the app to clear out their doubts.

4. Can use any device:
Customers can use the mobile banking apps through any smartphone device which has internet connectivity. A customer can use their phones without any hassles to conduct transactions with out any problems.

5. Wide range of services:
Payment of bills, transferring funds or checking the transactions of the account all of these can be done through internet banking apps. 

6. Track all transactions:
Through mobile internet banking, the customer can track all of their transactions, check their account balance at all times and keep an eye out for any false transactions.

4 factors to consider before taking a loan for a new car

Buying a new car is a momentous occasion in India. Your car can be a mark of success and stability. Therefore, people tend to put in a lot of thought while selecting their desired four-wheeler. However, picking the correct car loan for your car is just as important as choosing the best vehicle. Here is a look at things you should consider before taking a new car loan.

1. The amount you need to borrow
Just because you are about to purchase a new car, does not mean you should borrow as much as you want. While most car financers will offer up to 90-95 per cent of the vehicle’s price as a loan, you need to be smart while deciding the sum to borrow. You should only apply for as much of a loan as you are comfortable repaying. Keep in mind that lower loan amount will result in smaller equated monthly instalments (EMIs).

2. Rate of interest
Before you apply for a new car loan, check the rate of interest that the lender is charging on the lent sum. Once you determine the rate of interest, you can use the same to calculate the monthly payments you would need to make. Online car loan EMI calculators can help you make such calculations and comparisons. Choose the interest rate that you are most comfortable with before borrowing from the lender.

3. Documents required
Before you apply for a new car loan, check what documents are required to get the loan sanctioned. Make sure you have all the necessary documents so that the entire process becomes much simpler and streamlined. If you cannot ascertain what documents would be necessary, ask the lender to clarify the same.

4. Tenure for repayment
Car loans may have flexible repayment tenures ranging between 1 and 7 years. You must make sure to pick a tenure that you are comfortable with. Keep in mind that longer tenures would mean lower monthly instalments, but greater interest payable overall. Therefore, if you think you would be able to repay the money in two years, make sure you pick a loan that allows you to repay it within that time so that you can limit interest payments.

The new car loan application is simple and does not require any collateral, as the car you purchase is the collateral in this case. However, keep the factors mentioned above in mind to get the best loan for buying your dream vehicle.

5 mobile payment apps that have revolutionised money

In a bid to go cashless, India has embraced the mode of digital wallets. Furthermore, due to the popularity of smart devices, most banks and financial institutions in India have developed mobile payment apps. These applications can be used by anybody and do not require any lengthy or complicated payment procedure. Here is a look at the five best payment apps in India.

1. Paytm
One of the most popular mobile wallet apps in the country Paytm was launched in 2010. Through several difficulties over the year, the wallet has managed to retain the number one spot for itself regarding all mobile transactions. Apart from consumers, lakhs of merchants across the country today accept payments through the Paytm app.

2. Freecharge
Freecharge is another important and well-known mobile wallet in the country. It made quite a name for itself by offering great discounts and cash backs on transactions. While it can be used to make payments to vendors, the app is most popular among the customers for conducting mobile recharges and bill payments.

3. HDFC Chillr
A mobile payment app developed by HDFC Bank for its customers, HDFC Chillr offers plenty of unique features to users. With this app on your phone, you can pay anyone in your phone’s Contacts list without any added hassle. Apart from this, you can also use the mobile payment app to pay for utilities, pay for the products you purchase across e-commerce sites and to pay at certain merchants who accept payment from HDFC Chillr.

4. MobiKwik
With over 20 million customers, MobiKwik’s popularity is only second to Paytm’s. Furthermore, over 60,000 merchants in India accept payment from MobiKwik, which has further boosted the popularity of the mobile wallet app. It is the only app of its kind where cash collection at your doorstep is a feature. Apart from this, you can use this app to pay your monthly bills, purchase items through online shops and through certain offline merchants.

5. State Bank Buddy
As the name suggests, State Bank Buddy is the mobile wallet app from State Bank of India to its customers. It provides the basic facilities, through which customers can pay their utility bills, recharge their phone and conduct other transaction as well. Currently, the bank is in the process of improving the interface of the app to offer better services to clients.

Therefore, if you are looking to use a payment app, you should pick a wallet from the ones listed above.

A detailed guide on gold loan and its EMI calculator

Gold loan is the safest and easiest way to raise money. It is safer than most other kinds of loans because here the borrowed sum is offered against any gold articles or jewellery that you possess. Therefore, you are essentially mortgaging your gold items for the necessary funds. If you are unable to repay the bank, they will simply deduct the remaining money from the value of the gold.

If you are looking for a gold loan, you can use the gold loan EMI calculator available online.

What is the gold loan EMI calculator?
A number of reputed finance websites offer a digital calculator on their portal, through which prospective gold loan borrowers can calculate the monthly instalments they would need to pay based on factors, such as interest rates, principal sum borrowed and the tenure of repayment.

With this online gold loan calculator, you can mix and match the interest rates and the tenure of the loan until you find an EMI that you are comfortable with. Therefore, this calculator can be instrumental in determining the best interest rate for you.

Benefits of using the calculator

• Calculating numerous interest rates and tenures offered by the various lenders manually can be stressful. Furthermore, such calculations can turn out to be faulty. With the online calculator, you can perform the extensive calculation quite fast and rest easy knowing that the results will always be numerically correct.
• Gold prices are always changing. It is difficult to determine the current price of gold and use that to perform the calculation manually. However, gold loan EMI calculators take the current price of gold into consideration, while performing these calculations.
• You can quickly figure out the interest rate and tenure most suitable for you if you use the calculator. This is because you can enter the EMI you would be comfortable with along with the tenure to check the ideal interest rate for the loan. After you determine the interest rate, you can simply search online for a lender offering the loan at such interests.
• Lastly, after determining the EMI you would need to pay, you can check whether your monthly budget can be adjusted accordingly.

Therefore, before applying for the gold loan, make sure you take advantage of the gold loan calculator and figure out all aspects of the loan.