Hesitant to use mobile banking? 5 reasons why you should switch to it

The banking landscape has changed entirely with the advent of digital technologies. Visiting the bank branch for getting work done is now turning out to be absolutely unnecessary especially with internet banking and now mobile banking. For many customers, the switch to internet banking is seamless.

Mobile banking is equally convenient and seamless like internet banking. However, many customers are often on the fence about using a bank money transfer app for their banking transactions. Mobile banking is the use of a mobile application to conduct banking transactions which would otherwise have been done in the bank branch or on the bank website. With almost all major banks having an official mobile banking application, it is time to use mobile banking for regular banking transactions.
Here are 5 reasons why you should use mobile banking:

1. Secure:
Most banks provide two step authorized logins to their mobile banking applications. The customer has to input not only the customer ID but also a PIN. Banks also frequently prompt the customer to change their passwords thus providing in built protection. Mobile banking is quite secure and app safeguards can prevent unauthorized logins in the app.

2. Convenient and simple to use:
Mobile banking is extremely convenient and simple to use. The user interface for these mobile banking apps is simple and well structured, even for a layman. The app prompts the user before a transaction is completed which gives the user an option to cancel it in case the transaction happened by mistake. Banks also have instructional videos and literature online on how to use mobile banking applications for beginners.

3. Range of transactions:
If you’re wondering how to transfer money online, then you can use mobile banking. Mobile banking can be used to transfer funds using NEFT, RTGS, IMPS, UPI. It can also be used to check the account balance, download a statement, pay utility and credit card bills, open fixed deposits etc. This makes it very useful.

4. Mobility:
Mobile banking enables the user to use it no matter where he is. There is no need to physically be present in front of a desktop or laptop. Mobile banking apps are specially designed to operate at lower speeds of internet which is optimized for people who want to use the app while travelling.

5. Accessibility:
A mobile banking application gives you access to important details about your account at any point of time. Since most users are always with their mobile phones, this saves time and also provides the required information quickly.

5 Features of DTH Services

The government has been promoting Direct to Home (DTH) services and this has changed the television-viewing experience altogether. The dependency on local cable operators has diminished, and the viewers have this option of paying for only those channels which they want. There are plenty of DTH recharge offers that you can avail and get cash back and vouchers.  Here we list the most important DTH features:

1. Clear Transmission
The clarity in transmission is quite evident when you switch to DTH. The signal is sent directly to the set-top box via a personalised antenna. The picture quality and the sound that you get is clear in comparison to generic signals provided by local operators.

2. Widespread Availability
DTH services use satellite transmissions and personalised antenna. That is why it can be set up in remote areas as well. You can avail DTH online recharge offers to pay for the subscription.

3. Uninterrupted Telecast
You are dependent on the mercy of local operator for cable services. The service depends on a constant power supply if there is a power cut at operator’s place, the service will discontinuse. DTH services do not have such issues. The telecast might get affected in adverse weather conditions, but otherwise, there are no issues.

4. The HD Experience
DTH services give us, at an additional cost of course, an experience to view our favourite television show or movie in high definition. HD viewing is more relaxing on the eyes because of the quality that you are exposed to.

5. Spoilt For Choice
DTH services give you a minimum of at least 100 channels to choose from in the basic package. This can be expanded based on your viewing. That way, you can watch international shows and keep up with what’s happening around the world


Many companies in the market offer DTH services; you can compare and choose the best option. The digital wallets also provide offers on dth recharge, which can decrease the cost of your subscription.

Five tips to secure mobile banking transactions

Mobile banking is one of the most convenient ways to conduct banking transactions. Not only has it minimized the hassle of visiting a bank branch to get tasks done, it is now possible to handle banking transactions in a matter of a few clicks. Mobile banking even scores over internet banking because most people have a smartphone, making it easier for people to transact on their phones as compared to a computer.

Most banks have a simple and user friendly money transfer app. These apps can conduct a wide range of transactions within a matter of minutes such as:

• instant fund transfer using NEFT, RTGS, IMPS or UPI
• balance check
• opening a fixed deposit or a recurring deposit
• bill payments
• credit card payments
• a

Using an online money transfer app has become a very seamless experience. However, the ease and convenience with using such apps has also led to a rise in thefts and other security breaches.
To avoid such security breaches and theft of data, here are five tips to secure mobile banking transactions:

1. Only use verified and official mobile banking apps:
One of the best ways to secure mobile banking transactions is to use the official money transfer app of the bank. These apps are released by the bank and bear the official logo of the bank. There are inbuilt safety mechanisms in these apps such as two step verifications, customer based logins which provide an added layer of safety.

2. Log out after each session:
It is imperative to remember to log out of the money transfer app after each session is complete. Some apps may prompt the user to log out automatically while others don’t. By logging out, you ensure that any unauthorised person does not get access to your account in case the phone gets into wrong hands.

3. Do not save critical data on your mobile phone:
Critical data such as bank account numbers, PIN and passwords, credit card details etc should not be saved on your mobile phone. Ideally, these details should be memorized to prevent it getting into unscrupulous hands.

4. Password or PIN protection on your mobile phone:
By setting locks for the mobile banking app, it provides an additional layer of security for the app user. App locks can be PIN based or pattern based.

5. Other precautions:
These include:
• clearing the browser history, cookies, cache and other details before giving the phone for maintenance.
• Install an anti virus software on your phone
• Keep the mobile banking app up to date
• Do not click on suspicious URLs received in SMS or emails

5 things to know before availing a bike loan

A two wheeler loan is a loan given to buy a bike or a scooter. It is a very popular loan to avail since the installments work out to be affordable. Getting a bike loan is very simple and a lot of lenders offer quick and easy two wheeler loans.

Here are 5 things to know before availing a bike loan:

1. Bike model:
This is the most important decision that has to be made. The amount of the bike loan depends on the bike brand and the model of the bike. The bike loan also depends on whether the bike is a new purchase or a second hand vehicle. The lender does not give out the entire cost of the bike. Usually around 65% to 80% of the bike’s ex-showroom costs are given to the borrower. The rest of the money has to be put in by the borrower.

2. Bike loan interest rate:
The rate of interest on bike loans ranges from 9% to 20% depending on the model of the bike and the repayment capability of the borrower. Having disposable income to repay the bike loan is an important element that determines the bike loan interest rate. A higher credit score will also help you negotiate with the lender for a lower two wheeler loan interest rate.

3. Repayment tenure:
The repayment tenure for bike loans generally ranges between 3 to 5 years. However, if you have a strong credit score, you can negotiate with the bank for a longer or a shorter repayment tenure. It is important to remember that the longer the repayment tenure, the higher is the amount of interest paid on the loan.

4. Bike loan EMI calculator:
To find out the amount that will be disbursed on a bike loan, you can use a bike loan EMI calculator. By using a bike loan EMI calculator, you can find out the monthly installment amount for different rates of interest and repayment tenures. This can help you make the best decision based on your financial capability.

5. Bike loan application procedure:
Applying for a bike loan is very simple and can be done online as well. If you’re a long time customer of a bank, you can get a pre-approved bike loan as well. You can apply for a bike loan offline by filling up a form and submitting it to the lender.

Advantages of Online Mobile Recharge

A mobile phone has become a necessity as it helps us in many ways other than calling and receiving calls. You can avail offers on mobile recharge via online apps. Here, we list the advantages of online mobile recharge:

1. Do It At Home
You can recharge your phone from anywhere that has internet connectivity. You can choose your plan and pay for it via digital wallets or internet banking and start talking and surfing the internet again. It saves time and effort. It protects the cost of transportation that you might have to pay to visit the recharge outlet.

2. 24x7 Availability
You can recharge your phone anytime you wish to. There is no need to wait for your local shop to open and visit there to get your phone operational again. You will also get so many offers on mobile recharge as well.

3. Use Cards and Digital Wallets
You don’t need cash for an online mobile recharge. If you keep withdrawing money from ATMs, it will charge you after a certain number of transactions. So, in that way you save money by charging your phone online. There are many digital wallets with an easy user interface which can recharge your phone with just a couple of taps. 

4. Get Discount and Cashbacks
The government is promoting cashless economy in the country. This move by the government has given an opportunity to many private operators to offer digital payment services. Due to cut-throat competition in this sector, the brand offers a discount and cashback to stay afloat in the market. You can switch between different apps to avail their recharge offers.

5. Prepaid and Postpaid
You don't have the facility of paying your postpaid bill at your local vendor. You are required to visit the office of that operator to pay the bill or deposit a cheque in the bank. With online recharge, you can easily choose between services and recharge immediately.

6. Choose from Different Plans
Sometimes when you visit a vendor for recharge, the vendor decides the talk time plan for your phone. They don't have time to let you know different offers and talk time. In the case of online recharge, you can view all the plans and choose accordingly.

Planning to get a business loan? Consider these 5 types

Business loan is an umbrella term that includes a variety of funding that is given to businesses for their various requirements. Lenders are mandated by law to lend to businesses especially small and medium size businesses.

How to get a business loan:
A business loan can be applied either online or offline through the lender’s branch. Several lenders may pre-approve businesses for a loan. The first step to getting business loans is to check the eligibility criteria that a lender may have.

The most common business loan eligibility criteria relate to minimum net profit and minimum turnover requirements for the business. The business must also have a positive net worth and favourable business ratios. Apart from that, the business has to specify the reason for the loan.

Most lenders have a business loan EMI calculator on their website which helps businesses to calculate their loan eligibility and also find out the funds that they can get from the lender. It is best to use these calculators before applying to different lenders.

Types of business loans:

There are different types of business loans to suit the needs and requirements of different businesses.

1. Term loan:
This is a long term loan taken to buy fixed assets such as land, building, equipment, machinery etc. These types of business loans are long term in nature and are mostly used for capital expenditures. These type of loans are generally secured loans and are backed by the asset that the funds are used to purchase.

2. Cash credit and Overdraft:
An overdraft facility is a type of temporary loan against the current account. Interest is only charged on the actual amount of overdraft. This type of loan is a temporary loan that does not have any fixed repayment tenure.

3. Government scheme loans:
Recently, to promote startups and businesses in the country, there are few schemes under which a business can avail funds:

• Pradhan Mantri Mudra Yojana: Loans under this scheme are given based on the fund requirements and growth stage of the business. These are collateral free loans
• Stand up India: This scheme is specially for women, scheduled caste, scheduled tribe entrepreneurs. These loans are backed by credit guarantee and can be used for any purpose
• Startup India: Under this scheme, startups in particular are provided funding for their growth and expansion.

4. Letter of credit and Bank guarantee:
These types of funding are primarily required by importers while importing goods or services. A bank guarantee provides a guarantee to the opposite party that the sum in question will be paid.

5. Equipment and invoice financing:
Invoices are financed by discounting agencies where these agencies provide the funds upfront and collect the invoice amount from the customers. This is one of the ways to raise quick finance by discounting receivables.

Equipment finance are special finance schemes for businesses that need to buy different equipment. These may be leasing schemes or other finance schemes to acquire the equipment.

5 services every mobile banking app offers

Mobile banking is one of the best ways to conduct banking transactions. It is secure and allows the user to be completely mobile and still conduct a range of different banking transactions. Most major banks offer comprehensive mobile banking applications which have brought banking to a customer’s fingertips.

Using bank to bank money transfer apps is much more simpler and convenient for the customer. All the required transactions can be done within a matter of minutes after logging in to the mobile banking application. But what are the different services

Here is a list of 5 services that every mobile banking app offers:

1. Fund transfer:
Mobile banking apps mainly function as money transfer apps. It is possible to transfer funds easily using any of these different options:

• National Electronic Fund Transfer (NEFT)
• Real Time Gross Settlement (RTGS)
• Unified Payments Interface (UPI)
• Immediate Payment System (IMPS)

Each of these options will transfer funds, however, they all come with terms and conditions. IMPS, RTGS and UPI immediately transfer funds whereas NEFT is transferred in batches taken for settlement at a half an hour period.

2. Balance checks:
It is possible to use your mobile banking application to check the balance in your bank account. Accessing and downloading a historical statement is also possible through the app. The bank may put a restriction on the number of months for which the statement is allowed to be downloaded. However, the details provided as a part of mobile banking for balance check and statement are equivalent to internet banking.

3. New deposits:
Deposits means fixed deposits and recurring deposits. It is possible to open these two types of deposits through the mobile banking application. The amount and tenure of the deposit can be decided and entered in the bank to bank money transfer apps and the deposit will be opened up.

4. Bill payments:
Most mobile banking apps allow for bill payments. This includes utility bill payments such as gas, telecom bills, electric bills, DTH or cable bills, mobile recharges etc. Some banks also allow credit and debit card payments through the app.

5. Investments:
Most mobile banking apps allow people to invest in mutual funds, buy shares, and also invest in insurance through their mobile banking application. However, it is important to check if the investment you want to make is available through the app or not. Banks may sell products such as insurance only for the companies they have a tie up with as compared to offering all alternatives. However, having this option makes investments much simpler.