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  • Here are the steps of opening a FD account from your bank app

    Fixed deposits (FDs) are an investment instrument which is offered by banks as well as non-banking financial institutes to people to help them save money and provide a high interest rate on them. This helps and motivates people to open a FD account and earn by investing in them.

    As the interest rates on FD differs according to the financial institution or banks, it is important for you to conduct your research and then choose to open your FD account in a financial institution that offers the best deal. Many people choose to open their FD account from their bank, if you too are looking to open your FD account from your bank app, you could do so by following the steps below:

    • Choose the bank app where you want to open your FD account

    There are many banks that allow their users to open a FD account through their banking app. However, as their interest rates on FD differ, you should choose the bank in which you would like to open an account carefully and install their banking app. The banking app can be found on ‘google play’ or ‘app store’ on your device, however, you should ensure to install the official banking app as there are many other similar apps available.

    • Create a new ID or log in with your existing ID

    Once you have selected and installed the bank’s app, you must log in with your ID and password. In case you do not have an account in the bank, you must create a new ID. The option to create a new ID would be displayed on the app while logging in. Fill in all the details correctly and create a new ID to log in to the bank’s account.

    • Select the ‘open FD account’ option

    After logging in to your account, you would find a lot of options and sections which can be now explored. Select the ‘open FD account’ option from the list of options available on the app. Once you select this option, you must select the type of FD account that you would like to open. Choose an account according to your preference and financial planning carefully and then proceed.

    • Provide the necessary details

    You would be redirected and a form would be displayed, you must fill all the necessary details in the form. These details include principal amount, tenure, nominee, etc. The information should be entered correctly and checked to avoid facing any inconveniences while opening your FD account.

    • Confirm the details and make payment via netbanking

    Once all the details are entered, you must re-check the details before opening your FD account with the bank. In case any changes are required, you can make the changes before opening your FD account. After your FD account is opened, you must make your first payment via net banking.

    You could even opt to open a savings account with the bank, however, most banks offer only 3.50% p.a. interest on savings accounts which is much lower than what FD accounts offer. However, savings accounts provide you with liquidity which FD accounts do not provide. Hence, you should think carefully about which account you would like to open before opening the account.

    Original Article : Here are the steps of opening a FD account from your bank app

  • You can use your net banking app for these functions

    The bank is the place you deposit your money for safekeeping. Before net banking services were introduced in the early aughts, you had no option but to go to the bank physically to carry out even the smallest of transactions. However, recent technological advancements, have made it possible for you not to go to the bank physically. That is possible through the bank’s net banking app. A wide range of functions like bank account opening online has become quicker and easier thanks to E-banking services.

    Very easy to use, you can find a net banking app on a play store. The only things you need to use the app is a smartphone and an internet connection. These banking apps can be used for a wide range of purposes. However, if you don’t know what you can use net banking for, listed below are a few of them:

    1)Opening an account:

    This is one of the things that many people don’t know about. While they may use a net banking app for other purposes, they still may not be aware that it is possible to open a savings account on the app. After deciding to open the account online, please ensure that the banking app is there on your smartphone. If it isn’t, don’t worry, you can install the app through the play store. After installing, open the app, click on the account opening application form. On the form, please provide personal information like name, age, home address and phone number. After that, you need to upload a soft copy of your documents to the app. Once, that’s done, the bank will check the details on the form against that on the documents. If the information checks out, your application will be accepted.

    2)Make payments:

    While everyone will use a net banking app for paying for expensive things, people are unaware that they can use the app for paying for something that isn’t expensive too. For instance, you are in a general store shopping for groceries. On reaching the cash counter, you find out that the entire bill is just ₹80. You don’t have ₹80 in cash. So instead of giving the retailer ₹500 and waiting to get change in return, you can take out the phone, open the app and scan the QR code. After scanning the QR code, please add the amount and your UPI pin. Once pin and amount are added, your bill is paid.

    3)Get account statements:

    Before internet banking, to get an account statement, you had to update the passbook. This process took time. However, acquiring account statements on the net banking app is pretty simple. All you need to do is open the UPI app, click on the option to acquire the statement. On the landing page, you will also have the option of modifying the date range you want the statement for. For instance, if you want an account statement that lists out your expenditure for the tenure of five months, you need to select the said date range.

    Other than the three above, there are several other functions you can use a net banking app for. Hopefully, you enjoyed reading this article and hopefully, you found it helpful.

    Original Article :You can use your net banking app for these functions

  • These 5 steps are helpful for a successful fund transfer

    As COVID-19 is surging across the world people have adapted to a new lifestyle that involves carrying out their businesses from their homes. They don’t leave their homes without a mask and most of the time, they avoid leaving their homes. To adapt to these changing times, several sectors including banking have moved their business online and that too on the smartphone. While they have been around even before 2020, banking apps have received a huge boost during the pandemic. Through these apps, you can perform actions like fund transfer without visiting the bank physically. Doing so involves a few steps. They are:

    • . Install the app:

    You need to have the banking app on the phone for fund transfer. If you don’t have the app though, don’t worry, you install the app. It is easy to find the app on the play store. So, to install the RTGS money transfer app please unlock your smartphone, click on the play store, search for the banking app and then click on the button that ultimately installs it on your phone. Once you have installed the app and you don’t have an account on the app, you can proceed to open saving account online on the app.

    • Open the account:

    As stated earlier, you need to have an account if you want to carry out a fund transfer on the banking app. If you don’t have one, you can also opt to open your account on the app. Once you have installed the app, open and proceed towards the account opening application form. Once the form has loaded on the app, please proceed to fill it with personal information like your name, age, home address and other contact details. Once you have provided details please upload a soft copy of your documents on the app. Your Aadhar card, PAN card, passport and utility bills are some of the valid documents that you can upload.

    • Log in to the account:

    Once you have submitted the documents and your application form is verified by the bank, you will be given a welcoming kit by the bank. This kit will have things like your account number, passbook, chequebook, debit card and the net banking user ID and password. Once you have the user ID and password, you can proceed to log in to the account to transfer money.

    • Select the type of transfer option:

    While transferring money on the app you need to keep in mind that there is more than one type of fund transfer option that is available to you namely NEFT, IMPS and RTGS. These different types of transfer options can be classified based on the time taken for the money to be deposited into the receiving account.

    • Transfer the money:

    Once you have selected the type of fund transfer you want to proceed with, you need to add the beneficiary account. A beneficiary account is an account to which you want to transfer your money. Adding the beneficiary involves steps like adding your account number and IFSC code. Once that’s done, the beneficiary will be added to your account in a matter of minutes.

    Please follow the five steps above if you want to complete your fund transfer successfully. However, if you are still having doubts, please contact a bank of your preference.

    Original Article: These 5 steps are helpful for a successful fund transfer

  • Here is what you can use ebanking for

    Net banking services have made it easy for patrons of a bank. In the pre-digital era, you had to go to the bank physically to carry out important transactions. However, thanks to the recent technological advancements, you no longer need to go to the bank physically to carry out the business. That is possible through the ebanking services offered by the bank. A wide range of functions like money transfer has become quicker and easier thanks to net banking services.

    You may think that it is hard to opt for these services, but you could not be farther from the truth. Moreover, nowadays, you can access your ebanking account on your smartphone which is connected to the internet. But if you don’t know what you can use net banking for, listed below are a few of them:

    1. Opening an account:

    There was a time when you had to exclusively go to the bank to open an account. Conversely, while visiting the bank is still an option, you can also make a choice to open a new account on the ebanking app. Saving account opening on the banking app is possible by filling out the form first. After that, you need to procure documents that will confirm all the details provided by you on the form. If the bank is able to verify that the information on the form and the documents match, then your application is accepted. Once that is done, you will receive your net banking account details. Once you have logged into your account, you will be able to access all the facilities provided by the banking app.

    2.Quick payments:

    Transferring money was not very fast before net banking. Conversely, thanks to the ebanking services you can complete payments just in a matter of seconds. Instant money transfer is one of the major reasons why people opt for net banking services. Imagine you are on the local train and realise that it is the due date for your postpaid mobile bill. Instead of dashing to the showroom near your office or waiting till you have access to a computer screen, you can take out your smartphone, connect to the internet and open the banking app. Once you have logged into your account on the app, click on the relevant option, enter the recipient’s details and then pay the bill. The procedure which took approximately two hours in the pre-digital era is over in just a few seconds in an ebanking app.

    Original Article : Here is what you can use ebanking for

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