Banking Blogs

Are you interested in switching bank accounts? All banks offer different kinds of benefits to their customers, which give you the liberty to choose your preferred options. If your current bank is not giving you the services you want, then swap your bank account. Switching to a bank with all the facilities you need can …

When you open a savings account, you typically need to maintain a specific balance in your account, known as the Monthly Average Balance (MAB). By maintaining this amount, you can avoid MAB charges. Financial institutions require an MAB to manage funds in an effective way and provide various services without added charges.  It is a …

Banks with APIs are offering enhanced experience. Many fintech firms appreciate API and the ground-breaking effectiveness it entails. They also have implemented this third-party communication method, which helps in: This one tool is modernising the banking system globally and in India. To understand what is API banking and how it benefits the banking system, read …

When it comes to convenience in financial services, both mobile banking and online banking play a vital role in offering instant access and data. While online banking has been around for longer, mobile banking is relatively new. Both options provide access to financial services but have their separate advantages.  Many financial institutions offer both services …

The importance of documentation, like submitting ID or address proof when joining a new job, is something everyone must learn. Whenever you are trying to complete any legal or official work in India, documentation is one common step you will come across. The list of proof of identity documents involves all government issued IDs that …

Once you start a career as a professional, you will need a salary account to get your earnings credited each month. This is your first step toward financial independence, and understanding the various salary account benefits will help you plan your finances better. Opening this account takes just a few minutes and requires some documents. …

Knowing how to fill a cheque correctly ensures your payments go through without issues and keeps your transactions secure. Following the proper steps in your cheque-facilitated transactions prevents errors that could lead to delays or rejections.  To understand what correctly filling out a cheque entails, read on. Cheques – Meaning and Types A cheque is …

Wondering how to define a chequebook? A chequebook is a collection of cheque leaf lets that is used to make fund transfers. It is a reliable tool for your payment needs and helps you track and manage your finances.  Despite the growth of digital payments, cheques offer physical proof of transactions, providing you with control …

The Bharat Bill Payments System, or BBPS, is one of the many digital payment systems accelerating India towards a cashless economy. Gone are the days when you need to carry cash to pay your bill at the office or a designated centre. Now, you have the option to pay any bill from the comfort of …

With the Reserve Bank of India changing its policy, knowing the difference between base rate and MCLR is important when you are planning to take a loan. Since July 2010, the base rate structure has been in use. As per its provisions, banks had to update the rates for loans and deposits every quarter.  However, …