Generation of Online Banking
Now a days our banking system in India has changed a lot. There is no need to visit a bank for many of your banking transactions in India. Computers and Internet has made cyber banking easy and accessible to majority of us in India.
Transfer Money Online
Even you can log on to your banking website from any part of the world. Online backing has become very popular among our young techies as well as many others. With online banking, we can now transfer money, pay our utility bills, order for credit card or debit card and even checks. You can also modify your account information. Now a days to apply for a bank loan, we can do it from our home computer. The online banking services provided by our Indian banks are not always same. It varies between each banks.
Bank from Home
Online banking helps us to perform the transactions from the comfort of our home or office. It saves our time of going to bank and standing on long queues. One of the biggest benefits is paying of bills. To pay utility bill by going to an Electricity office will eat up half of our day. Now with online banking it takes less than 2 minutes from our computer.
Save Time and Money
Here you are saving time and money. Many Indian banks offer calendars on their online websites to make a scheduled payment of our bills. This will help us to have timely payment without any dues. Helps us to avoid fines due to delayed payments. Please note that all transactions cannot be done online. Some of them still need personal interaction with the banker.
Free Online Banking
Online services by banks are provided free of charge. In India it is being adopted to attract more customers to online banking. Later on a small banking charges may be effective in India also like other countries to avail online banking. Still online banking is much helpful and cheaper compared to normal physical banking.
Open Account with Core Banking
Whenever you are opening a new account please check and confirm whether your bank is providing online banking also. It has become an integral part of Indian Banking system. State Bank of India is getting into Core Banking on almost all of their wide network of banks. After implementation of their Core banking to all branches, SBI will be one of the largest bank in the world with integrated online banking system.
Investment done Online
Caution has to be taken to perform online banking or investments. Buying of Stocks and Shares of companies, buying mutual funds all can be done with a single demat account with your bank. Familiarity with the system and procedure of online investment is essential. Investing small amounts initially helps to reduce the risk factor. Once you are confident enough, the amounts can be gradually increased.
Disadvantages of Online
Online banking and investment have disadvantages also. Your information is online, which is a security concern. Some consider online information to be insecure. If your bank or investment company websites are available online, you can be sure that all information on your investment is secure.
Protect your login details
You must take extra precaution by using passwords at least six or eight characters long and alphanumeric in structure. Avoid duplicating or keeping the same password for all accounts. Even though there are many benefits of Internet banking and investment. Due to hi-tech cyber crimes these days, it is always advisable to proceed with caution while doing online transactions.
Little Caution can protect you
Online investments in India can be beneficial if done with a some caution. Understanding the system and procedure of online investments in India is necessary. Investing in small amounts in the beginning helps to reduce the risk. Once you are confident, the amounts can be gradually increased in your financial investments.
Do Simple research to Grow your Money
We advise you to do online investment after thorough research. Research can be done in the privacy of your home from your computer also. Online information on investments is available 24 hours a day and 365 days a year. Resources, like newspapers and financial magazines also offer assistance in tracking best investment opportunities in India. Informations available online is usually accurate and reliable, to decide on the percentage of investment. There are websites updated regularly and the available information may have been posted just minutes ago. Reputed financial websites offer quotes that very quick.
Get help from Websites
There are financial websites that allow you to customize the information you want to see. By signing up with them you would be presented with selective information that you want every time you access your account.