Dear All,

India Infoline Investment Services Limited (IIISL) is a downstream subsidiary of India Infoline Ltd and has holdings in India Infoline Housing Finance Ltd (license received in 2009), Moneyline Credit Ltd. (an NBFC) & India Infoline Distribution Co. Ltd.

IIISL is coming up with a NCD (Non Convertible Debenture) issue on 4th Aug 2011 and issue closes on 12th Aug 2011 The coupon is 11.70%-11.90% depending upon series (1, 2 & 3) selected.

The base issue size is Rs 375 Crore with a greenshoe option of Rs 375 Crore making the Issue size to be Rs 750 Crores out of which 40% is reserved for the Retail Category.

The Issue is Rated AA- by CARE and AA-/Stable by ICRA indicating stable outlook.

There is a 40 month premium on redemption option in Series 2 (cumulative option) which is fairly attractive considering the fact that the issue is going to be listed on NSE/BSE and hence offers better tax adjusted returns (Gains in listed NCDs for a holding period of more than 12 months are treated as Long term capital gains).

Given the attractive yields and current state of equity markets the issue is likely to be oversubscribed in first 2-3 days. Request planning in advance for the same.

Online Applications:
Online option for existing clients will be made available; wherein client can place orders online using the Insta plus Login.

Attached product note

Our world today is categorized or typically regarded as the instant world.  We want everything at the click of a mouse or at a snap of our finger.  Credit card is one of these realities.  We simply use this small card to transact with monetary matters.  And sometimes, if we are not careful and grounded in values and discipline, we will find ourselves spending beyond our means, yes even to the extent of using such in not so significant matters.  Hence, this article aims to give us guidelines in understanding the aspects of your credit card.

All users of credit cards receive the credit card statement akin to a bill every single month. Many of us have the tendency to just pay the amount due, without caring to give the bill a proper reading! Sometimes this habit can prove to be costly! Frauds or incorrect payment info might be overlooked!Do you tend to procrastinate or ignore reading the bill because you do not understand it? Terminologies used are confusing? Read on to understand your credit card statement better.

• Motohis is a unique 16 digit number assigned to you and super imposed on your card. This number is needed to pay your credit card bills through cheque or also for any correspondence with the credit card issuer.

• Keep this number handy so that you can report to the credit card issuer in case of any theft or fraud. This number will always be stated on your credit cards statement.

Credit Limit: This is the maximum amount the credit card issuer allows you to borrow. This limit is based on you income profile and your payment track record.

Indeed, a good payment track record will help in getting your credit limit enhanced and vice versa. If you exceed the credit limit, the credit card issuer will charge an overdrawn fee. This fee is a fixed percentage of the overdrawn amount subject to a minimum and maximum amount.

Available credit limit: This is the difference between your credit limit and the amount you have spent (total amount due). If you have spent Rs. 20,000 and your credit limit is Rs. 100,000, then your available credit limit is Rs. 80,000.

Payment Due date: This is the date by which the payment should be made i.e. you account should be debited and the credit card issuer should realize the amount on or before this date. So you should be aware that is not the last day on which you can issue the cheque but it is the date by which the cheque should be realized.

So issuing the cheque before the due date is not good enough if the amount is not credited into your credit card account by the payment due date. Paying your credit card bill before this date is key to managing your credit card history and your credit score.

This is the date on which the bill has been generated. This date is used to calculate the interest amount if you do not pay the full outstanding amount by the payment due date, even though the due date may fall weeks after the statement date.

Cash advance/ Cash limit: Credit card issuers allow you to withdraw cash from the ATM but the amount of cash that you can withdraw is not your credit limit, there is a separate limit called the cash limit. The cash limit is usually 30% of your credit limit.

A cash advance will have a one-time transaction fee levied which could be to the tune of 2.5%-3% of the cash withdrawn.

In addition interest charges will start accruing immediately. The interest charged on cash withdrawals are more than those charged on your purchases. So this facility is best used only when you need funds on an emergency basis

Total amount due: This is the total amount outstanding on your credit card i.e. the amount you owe to the credit card company. This amount is a cumulative amount comprising of interest or any other charges such as over drawn fee among other things.

Minimum amount due: The credit card issuer fixes a minimum amount that you need to pay every month which is typically a certain percentage of the total amount due. It is typically 5%-20% of the total amount due. Nonpayment of the minimum amount is treated as default and a late payment fee will be levied.

If you opt to pay the minimum amount due, the unpaid amount is carried forward to the next billing cycle and so on, under revolving credit facility. What you need to note here is that, any fresh purchases will not enjoy interest free period i.e. you start paying interest from the day on which the purchase has been made.

This will continue till the total amount due has been paid for. Also even if you pay the minimum amount due, interest will be charged on the total amount due which will include the minimum amount due.

So suppose you have paid 60% of the total amount due before the due date, interest will be charged on 100% of the total amount due rather than on the balance 40%. Thus opt for paying minimum amount due only if you’re running short of money to pay off the total amount due.

Transaction details: All transactions executed through your credit card, which includes purchase, payments made will be recorded under transactions details.

Also any charges levied by the credit card company such as interest, annual fee, late payment charges among other things will also be listed here. It is essential that you go through these details in order to spot any discrepancy.

Reward points: This is the record of the points accumulated till date. The summary will give details on the opening balance, points redeemed and balance points. You can redeem the accumulated points on a need basis. Each credit card issuer has a different method of redemption.

So next time you receive your credit card bill, take the time to read it carefully. Not only will it protect you from fraud but it will also help you manage your cash flow better.

Best Reading:

• Credit card reward point, Definition and Advantages
• Credit card – Advantages and Disadvantages

As a conclusion, credit card could definitely make or break you as a person.  If you are more prudent and careful, more smart and responsible, more thrifty and concerned about your future, then credit card will never become a problem nor would add headache to you.  The tips and practical suggestions that you must read and understand in view of credit card holding should help you make decisions which may entail sacrifices and other needs in order to become more financially capable and stable.  It is just a matter of making money work for you the most convenient and confortable way such as having credit card.  You just need to be extra cautious in maintaining it.

Hey folks, most of you perhaps are pissed off and even mad with the long line in order to beat the deadline with your tax payment dues. Well, the long worry has finally come to an end. Thanks to the innovation of technology and communication through the internet. Because of this creativity and informativeness, banks like SBI came up with their easy payment scheme, the so-called SBI e-Tax. So, relax and read this valuable article written just for you in order to facilitate your tax payment easier and more comfortable:
(i) What is SBI e-Tax?
SBI e-Tax is a process and a facility provided by SBI to all of its customers for on-line payment of all their Direct / Indirect Taxes i.e. to us Internet banking instead of going personally to the bank, through www.onlinesbi.com.

(ii) Who can utilize this product?
All customers of SBI, regardless if you belong to a corporate/firm or simply an individual, who have any current account with Internet Banking feature with any branch of the Bank, can transact and pay their taxes through SBI e-Tax even if the said branch is not actually authorized for doing and conducting Government Business.

(iii) What then is the basic requirement in paying of taxes through e-Tax.
The Taxpayer / Assessee needs to have a current and active account i.e. Savings, Current or Cash Credit account and any Internet Banking/Corporate Internet Banking registration with of course, transaction rights with any Internet Banking enabled branch.

(iv) Are there any charges for payment of taxes through SBI e-Tax?
No. There online payment of taxes is absolutely free of charge.

(v) How to pay Tax through SBI e-Tax?
The customer logs on to www.onlinesbi.com, which gives internet banking facility and selects SBI e-Tax for selection of the kind of tax to be paid. All Direct / Indirect taxes may be paid very easily by filling up the required information in the prescribed format and also an instant Cyber Receipt is generated.

(vi) What are the advantages of SBI e-Tax?
a. It is very convenient, hassle free and simple screen based, menu driven, and user-friendly process.
b. Always available anywhere, anytime – 24×7
c. Available to all SBI-INB customers (individuals/corporates) even from the comfort of their home/office.
d. No charges.
e. No paper challans.
f. No cash/drafts required.
g. No queues.
h. Can ensure correctness and accuracy of data – PAN/TAN no., the assessment year, Head of account, amount of tax etc. and on-screen before authorizing payment.
i. It hasquick acknowledgement- cyber receipt, which can be stored or printed.

(vii) Why prefer SBI for e-tax payment?
a. Largest no. of taxpayers does their tax payments through SBI.
b. Safest and Secured Network.
c. Largest network of branches simply means we are ready to offer the Internet Banking facility even in your neighbourhood.

Here are also a more easy to do step-by-step way to do the SBI e-tax
User-friendly procedure for Direct Tax payment through SBI e-Tax:
Step 1: Visit http://www.onlinesbi.com and click on “SBI e-Tax”.
Step 2: Select “Direct Taxes (OLTAS)’. You are directed to NSDL site.
Step 3: Select Challan Type.
Step 4: Enter Challan Details and select “State Bank of India”.
Step 5: Confirm Assessee details. You are redirected to www.onlinesbi.com
Step 6: Log onto www.onlinesbi.com with “Username and Password”.
Step 7: Enter tax details.
Step 8: Confirm payment details.
Step 9: Print Instant Cyber Receipt and logout.

For Indirect Tax payment through SBI e-Tax (Central Excise and Service Tax):
Visit http://www.onlinesbi.com and click on “SBI e-Tax”.
Step 1: Select ‘Indirect Taxes (CBEC)’.
Step 2: Login with the title Corporate Internet Banking with ‘Username and Password”.
Step 3: Select funds transfer and go to Indirect Taxes option.
Step 4: Fill the Assessee Code provided by CBEC
Step 5: Verify Commissionerate details and Major heads.
Step 6: Select appropriate minor heads, fill the amount of tax/education
cess to be paid, and account to be debited.
Step 7: Enter Transaction Password & click on “Make Echeque”
Step 8: Note e-pay order number.
Step 9: Authoriser to log in with ‘Username’ & ‘Password’ (In case of CINB
accounts).
Step 10: Click on ‘View Inbox’ and select Txn. you want to authorise.
Step 11: Give transaction password & click on ‘Go’.
Step 12: Print or save the Instant Cyber Receipt.

Best Reading:

• Steps In E-filing Tax Returns
• Easy Steps to Tax Filing
• Tax Planning For First Timers
• Advantages and Disadvantages of Online Banking

In conclusion, we must therefore maximize the use of SBI e-Tax mode of payment so that we will not anymore stand and wait in long lines for our turn to pay our taxes. This informativeness is indeed a very important landmark in banking and will surely be appreciated by the taxpayers.

Credit card is a banking instrument which is very popular nowadays. Today, banking facilities all across the world get automated and quick. Due to innovation and technology, banking goes easier. Now, every bank has an internet banking and mobile banking facility.  Today, I do not need to go to a bank every time for small transactions. Banking technology is so much advanced that I can transfer my cash anywhere in the world even in seconds.

Credit cards are so common today. That is why, each and everyone is accepting it. Many businesses around the world survive due to credit card transaction. We can count the names of multinational companies who are purely into money transaction and credit card business. Visa, Paypal, MasterCard, etc. are the biggest names in this industry. For the credit card holders, processing fees and interest rates are their main concerns. Credit card holders should be taking into consideration the merchant services and fees associated with them.

Credit cards are so commonly used by consumers, government agencies, professionals, businesses and even big corporate houses.  Hence, purchases made by credit card account for 65% to 100% of a lot of companies’ sales. Just like all other businesses, credit card holders have to pay fees for every transaction. These fees can vary by hundreds of dollars a month — or more, depending on sales volume and which merchant service’s provider the merchant chooses to provide their credit card processing services.

The credit card processing industry is complex, with several parties making money on each transaction of your business processes. However, looking into the process more in the broader way, mainly two types of basic fees charged by providers

1.    Interchange fees- The interchange fee on credit card and debit card purchases charged by the banks that issue the cards. The interchange fee is designed to compensate for risk and for the costs of processing a transaction. It is paid by the merchants who accept the cards for payment. An interchange fee is usually composed of a fixed charge per transaction plus a percentage of the amount charged.
2.    Additional fees- An additional fee charged by your merchant service provider, which may be the merchant bank or an authorized independent sales organization of the merchant bank.

Now, if consumers want to reduce fees, they have to take care of the following things-
1.    Qualification system- There are over 125 interchange categories that each has different fees based on how the card is processed, what kind of card is being used, and other factors. Many merchant service providers merge these 125 categories into three categories: qualified, mid-qualified and non-qualified. Merchant service providers average out interchange rates in each tier, and then add a margin. This kind of system makes an average interchange fee higher than actual fees. Consumer has to take care of that policy of the merchant regarding interchange fees.
2.    Consumer age and size of business matters- Age of consumers and size of their business decides the fees of credit card. Consumers should search out for all the available options and then decide for credit card purchase. Moreover, if it’s a business card then the size of your business will be dependent on how much you have to pay more fees according to that. Consumer and business cards are both driven by different rules and regulations.  The best way is for you to talk to several merchant service providers and negotiate the possible rates before making your final decision.
3.    Avoid leases on low cost transactions- Small purchases like $100 to $400, can be made by consumers without leasing. However, some sales people will try to insist you just lease on the products. Avoid it as much as possible. The only one who benefits from this type of lease is the salesperson who gets a fee for selling you the lease.
4.    Go through the small print- Read every single point of application carefully. Find out if you’ll have to pay any penalties if you want to change processors or stop accepting credit cards.  Many merchant service providers added the clause of penalty in the contract and consumers are unaware about it. Be sure all fees listed in the contract are the same as what you were quoted.

In conclusion, I want to include one more suggestion, every credit card has a different processing fee and different terms and conditions. Card holders can be charged by service providers by many ways. These are just a few tips for consumers who want to reduce processing fees of credit card. If a consumer wants more information about credit card, they can refer to the website of various banks and financial institutions. Consumers can make a reduction in their bill amount by following some basic steps and rules.

Best Reading:

• Credit card reward point, Definition and Advantages
• Credit card – Advantages and Disadvantages

About the Author
Gajendra Purbia is a professional blogger and research analyst by profession.  Gajendra is fond of Social Media and also write about his experience in Social Media via his Blog http://researchanalystblog.wordpress.com/. Gajendra can be reached via facebook and twitter.

Hey folks!!! How about a good news this weekend?  This is something related to your financial life.  Do you want a better way to maximize your money and savings?  Well, it has all something to do with compound interest, the surest way and easiest key to a more successful financial life. Read on folks…

Let’s begin, what is a compound interest?  Well, it is referred to as one of the most fundamental investment tools but it is often misunderstood or taken for granted by people who are trying to get the most out of their income and other ways of earning.

Compound interest is a topic which usually arouses interest and nods in the business arena.  Unfortunately, many people are not paying attention to the benefits and how this really works; thus a lot suffers from the depths of bankruptcy because of credit card debts and other related problems. Unmistakably, banks and other financial institutions are enjoying so much and making the most out of this money-making scheme to the detriment and disadvantage of those borrowers and other debtors.

Do you know how compound interest works?
Simply put,a compound interest is an interest that comes on top of the regular savings interest plus the original principal sum over a particular period of investment.  To explain this fully, let’s take this example:Assume you have $10000 now in your savings and you are supposed to have an interest of 3% annually with your principal sum. This money of yours would become $10300 by the end of the year!In the second year, your original, principal savings which is now $10300 will eventually become, by the end of that year, a whopping $10609.  What a great increase!!! In the third year,your accumulated sum of money would add up and become, hold your breath, $10927 and so forth. What a fantastic way of making your money work for you.  This is basically the secret of a compound interest.  In the same manner, your very own savings of$10000 if compounded on a basis of 10% per annual would have generated times two or double with the computation we discussed a while ago.  Therefore, you just can’t imagine how much will you earn from compound interest in 10 years, 15 years or more!!! Therefore when you will be told by your banks that they will make your money work harder for you, they are in fact just employing the principle of compound interest.

While it’s nice to think that your money in the bank increases and is making you richer, it also expected that you won’t be making withdrawals every now and then because this dramatically reduces the effect and impact of compound interest.  In short, never try to attempt getting something from your savings if you want to really maximize its compound interest.

Conclusively, compound interest works more efficiently for you if it continues to happen more frequently. Which is to say in other words, twice yearly is far more effective than yearly and quarterly is certainly much okay than twice yearly and so forth. Hence, the ideal investment plans must possess the following features:

• Returns of at least 5%
• Compounding is on a monthly basis
• There is a low risk with a higher winning percentage (no less than 90%)
• Flexible in withdrawal for liquidity (i.e. you can stop anytime)

So what are you waiting for, let’s begin using or employing compound interest and be on your way to a more financially free and happier life! Have a great weekend.

A savings account can aptly be defined as an account that is used to deposit money at a certain bank or credit cooperative which basically earn investment or interest on that said account over time. You can actually add or get back your money from the account by any time you wish by just visiting the bank. Usually you can withdraw or add more money to your savings at any time; without any cost whatsoever. Banks may however require from you a minimum amount in order for you to open or maintain the account.

This kind of account is considered to be the easiest account for young kids to open. Because of its being simple, it is the primary account for a lot of people and is used by all ages. Another term for savings account is a passport savings or a statement savings

Advantages & Disadvantages of a Savings Account
You may have been investing or putting deposit or money into a savings account at your local bank or credit union for your entire life without stopping to think about the advantages or disadvantages of such an account. When it comes to money, it is vital to be aware of your choices and to understand any type of account you use.

Advantage:

1. Protection: Almost all bank institutions and certain credit cooperatives are usually secured, meaning to say, your money invested and deposited with them is secure and safe.  In this manner, you can always have a money back guarantee.  You may get it anytime you want.
2. Automatic Deposits and Payments: There is a convenient and beneficial in keeping a savings account.  This is the automatic payments and deposits which your employer may establish or set up in order to manage your account more efficiently.  Your work employer could even deposit directly any amount you wish to be deposited to your savings account.
3. Saving for the rainy days is basically the primary point of this whole scheme of keeping a savings account, in other words, to save money. You may intentionally open a savings account with the option of not having an ATM as its benefit so that it would not be tempting to withdraw your money anytime you want to buy or eat something somewhere.

Disadvantage: They are not as much disadvantage but yes we can count those as Deficiencies.

1. Minimum Balance : One disadvantage in banking investment is the required maintaining minimum balance so as you will not avoid extra payment or additional fee to your savings account.  Some of those banks asks only $25 for you to maintain in your savings account, but other banks may require higher amount which vary from $50-$1000.  You can always search the internet for the lowest minimum maintaining balance that you can afford.
2. Interest Rates The interest rate of savings account sis the lowest,interest wise.  Of all the other forms of banking investment, savings account would not guarantee you a huge amount of interest or return of investment because your money is simply being kept for emergency transactions by the bank.

Other than this you must read Advantages and Disadvantages of Online Banking
In conclusion, it is indeed very important to invest in savings account because it will make your future stable and bright.  No matter how small is the savings, it doesn’t matter since, it is better to have a small investment and make it grow than to have no savings at all.  Savings account will make you ready for the rainy days, so start saving now.

]]> http://dulawat.com/2010/07/03/importance-of-maintaining-a-savings-account/feed/ 0 http://dulawat.com/2010/06/30/credit-card-reward-point-definition-and-advantages/ http://dulawat.com/2010/06/30/credit-card-reward-point-definition-and-advantages/#comments Wed, 30 Jun 2010 15:26:17 +0000 Shakti Singh Dulawat http://dulawat.com/?p=1332

A Rewards Credit Card usually means a credit card which gives you a cash back, rebate, or reward points which the card owner may use in buying certain services and goods by using the reward they get from their credit cards.  Card holders can easily, even without them knowing it sometimes, earn rewards points from almost all the goods and services that they me purchase or avail.  Yet, most of these people do not really take notice in view of those accounts until they eventually experience in redeeming those great rewards.  Sometimes, these rewards may reach and accumulate value points as high as hundred or even thousand monetary equivalent, free of tax at that!

But beware of the following reasons or cases that may hinder you in redeeming your rewards:  blackout dates, expiration dates which you may not notice, and scattered balance spread across the multiple programs.  Hence, you should pay a closer look and attention in taking a dynamic and active way of dealing and managing your credit account rewards.

There are various kinds of credit cards that may bring you different rewards points.  You should choose the most suitable credit card for your needs.  You should also be familiar with the complex features of your credit card and the ways of earning reward points.  Most importantly, learn how to choose a credit card that is really of great help regarding your basic needs.  Convenience and that which gives good or high points of rewards should be the primary factors in choosing the card that suits you best.

The following could be effective tips in order for you to maximize your reward point value:

• Try to establish a balance/s in fewer programs.This implies that you should at least fly one or two airlines in a year to get your rewards.  You should also try to book at the same hotel chain, go to the same grocery store, and use only one and the same credit rewards card.
• Choose and utilize your credit card programs which are designed towards the way you spend your money.The needs you have as a person will be dependent in view of the rewards that you will get.  For example if you constantly travel then a mileage type of card suits you best.  A gas card is best if you are fond of driving.  You may also check out the site “credit card chaser” and utilize their tools to aid you in selecting a card that will help you in your spending.
• Refrain havinga maintenance fee. As much as possible, choose a credit card that does not require you to pay a yearly maintenance fee.  But if you are sure that you will earn more rewards if you pay an annual fee then go for that set up.  Otherwise, choose only that does not charge you with annual maintenance fee.
• Avoid purchasing electronics. Electronics does not actually compensate the reward that it may give you if you will use your credit card in paying it.  You better use your credit card in paying your travel fare because it will give you more rewards points.
• Have a record of expiration dates. Almost all rewards program has an expiry date wherein your points will become inactive or useless.  If you will not pay conscious attention with these expiration dates, you will just be throwing away your cash in the form of rewards.

List of Top INDIAN bank that provide reward point facility (Updated 30th June 2010)

• CITI Bank
• HDFC Bank
• HSBC Bank
• ICICI Bank
• AXIS Bank

Best Reading:

• Credit Card – Advantages and Disadvantages
• Advantages and Disadvantages of online banking

In conclusion, you have to be responsible and maximize in using your credit card most especially in purchasing only those which will give you high reward points. You must also exercise prudence in spending only that which is within your budget so as not to be drowned by unnecessary debt. As much as possible enjoy using the rewards of your credit card not only for yourself but also for your family and loved ones!

All of us in one way or the other encountered people offering us to have a credit card.  We have to remember that the credit card could make or break your financial life and put the other aspects of your life into sudden chaos.  If you are smart and cautious in handling it well, then it will bring you a lot of benefits yet, if you are just happy go lucky about it, then it could ruin your life and even bring misery to your family members.

This short list of guidelines will aid you to understand on how you will utilize your credit card so that it will work not for your disadvantage but for your own welfare and benefits:

Advantages of having a credit card:
A credit card can basically do the following:
1. Be very safe from thieves and convenient to carry than cold cash.
2. Give you convenient options regarding payment method on the things you want to buy via the internet or your telephone.
3.  Make you establish a credit history that is excellent
4. Provide you with free use of funds for as long as you always pay your account balances on time and in full.
5.  Let you enjoy with rewards, incentives and other freebies.

Disadvantages of having a credit card:
1. If you won’t pay on time, it will cost you the most compared to other forms of credit such as line credit or personal loan.
2. It will give you more headaches because it will build more than enough debt which you can bear.
3. Destroy your credit record if your payments are delayed.
4.  The terms and conditions are quite unclear or difficult to understand.
5. There are hidden charges.

Best Reading:

• Advantages and Disadvantages of Online Banking
• Get Approved for Credit card

Conclusion:
The most basic and primary advantage of having a credit card is that, it will bring convenience to your financial transactions and buying affairs, but the inadvertent and delayed payments will cause you a lot of headaches and can leave you a lot of debts which is beyond your paying capacity.

Online banking can simply be defined as the process of entering into transactions by a particular client and the bank using modern technology.  With the various capabilities of the computer and other technological developments, online banking is one of the many businesses that benefited from it.  Since banking plays a very important role in the economy of a nation, then there is truly a need to maximize and improve its features to be client friendly and easy to access.  There are of course the advantages and disadvantages of online banking.

Among the advantages of online banking include the following:-

• Very convenient.  Online banking is a totally easy thing to do.  In the comfort of your home or offices, you can do whatever monetary transactions you wish to do with your bank.
• Unlimited service day and night.The services and various features of your bank are always available seven days a week and 24 hours daily.The most interesting thing here is that, everything can happen at just one click of your mouse.
• No time constraint. Online banking is also stress free because it never closes unlike the traditional banking that has cut-off time.
• Easy to access via PC. Using your personal computer, you can easily do various transactions with your bank in view of your business or any other personal or financial matters.
• Easy way of payment. Bill payments can also be handled properly and smartly.  Instead of waiting for certain due dates, you can easily pay all your transactions using your computer and in coordination with your bank.
• Smart.  Online banking is also ubiquitous or simply put smart.  This enables you to do troubleshooting regarding any problem that may arise from your business.
• Higher interest rate. Another great advantage of online banking is the interest rates which basically range between 5% to 3.40% annually.   Unlike the traditional banking, online banking can earn you a better interest or return of investment both in your savings and checking account.
• Easy transaction.Another advantage is the speed of every transaction.  Online transactions, compared to ATM or traditional banking, works faster.  Thus business matters could benefit so much from this speed feature.
• Banking online is both efficient and effective.  With just one secure site, all your financial transactions can be managed orderly.

On the other hand, the following are the disadvantages of online banking:-

• First is the slow processing from the moment you entered a financial transaction with your bank via the computer.  Usually the bank will require you to submit certain documents like an identification card, signature and the like.  Not only will the bank online require you to submit documents but also to provide special power of attorney in cases where you want to do transactions together with your spouse.  A concrete example is when you want to manage all your wealth and resources together as a couple and you wish to view it online.  Certain technical procedures regarding online banking may be taxing too and complicated.
• Another disadvantage is the so-called learning curve.  This means, banking online especially in locating the sites may be complicated and hard to find.
• Another disadvantage is bank site changes.  If this occurs, the bank will require you to re-enter all your information again and other related data.
• Finally is the trust aspect.  Online banking should be entered very carefully if you wish to enjoy your financial life.
  
  Best Readings:

• Why Save for Rainy Days
• Get Approved For Credit Card
• Getting Familiar With Credit Card Terms
• Why you must save money

As a conclusion, banking online has its benefits and discomforts and it will be up to the client to choose which for him or her is more convenient, hassle-free and efficient.

The SBI or the State Bank of India is the largest bank in India. The SBI offer their customers bank accounts. For more information on how to apply for bank accounts, please read our article regarding that, the title is, Open a Savings Bank Account with SBI. But if you are looking for what types of bank accounts are offered, here are some types of bank account: savings account, current, PPF account, salary accounts, senior citizen and retirement savings account, no frills account, group account, demat account corporate group account, business current account, online bank account for the world wide web use, 3-in-1 account for online trading, international banking Nostro and Forex trading account, NRI accounts like NRE, NRO, FCNR accounts and so much more.

1) Savings account.
If you are going to have a deposit here, it is liquid, could give you a high interest and most important of all, it is very safe.
2) No Frills Account.
If you cannot have some of the requirements of the SBI, you may try to apply at the no frills account as this targeted those customers who cannot pass some of the basic requirements. They will also charge fewer amounts and could give you minimum balance maintenance.
3) Salary Account.
This is good for the employees, as this will manage the salary of the employees and instant credit of salaries to the employees’ account will be made easier.
4) NRI Accounts.
This is the special account for the savings and transactions for the NRI’s. It also includes other accounts like NRE rupee, NRO A/cs, FCNBR, savings, current accounts and fixed deposit accounts.
5) International Banking Accounts.
This is the solution for the international banking. And also includes, Nostro accounts, Forex , trading account and more.
6) Corporate accounts group.
This is good for the corporate clients which needs the banking needs.
7) Online Trading Accounts.
This is good for the online trading services by a special trading account.
Internet Banking Account.
It is just a click and away right in your computer, it will enable you to have transactions via your internet.
9) Demat account.
Your share trading and investment in mutual funds and other equity and debenture derivatives and products is done through this SBI’s Demat account.
10) Government account.
This is coordinating agency among dealings of the Central Government and RBI transactions. This account handles government business.
11) PPF account.
This invites investments to the fund and in return also offers income tax rebates along with interest on the investments. It also offers PPF account where you can manage your investments in PPF.
12) Business current account.
It is customized for the businessmen with the easy fund transfer; bill handling and outstation cheque collection facilities.

Quote of the day:
The SBI account opening have contributed in increasing customer base of SBI and made it India’s largest bank. For other information regarding the SBI read some of our articles.

Best Readings:

• Open a savings bank account with SBI

Conclusion:
The features of SBI are very applicable to their every customer as they have many accounts to choose from. And you even don’t have to waste time, as it goes online. Now you can transact with the bank via you PC which is less hassles. Enjoy some of our articles and have a good wealth every one!