Banking On Go

Handling the finances is a herculean task that takes a lot of effort, discipline and time. Today everything requires a high capital whether it’s purchasing a new home or going for higher studies. These are just the planned expenses which you can pay through your saving account or FD account but the main problem arises with the unplanned expenses like paying the hospital bills. In such a case, some may opt for personal loans while some use their savings. But how to choose what is the best course of action? Let’s understand the pros and cons of loans and savings to choose the right option when needed: Pros of using the savings: Free from interest: If you have enough savings then you are lucky that you will not have to pay loan interest. Keeps you stress-free: Spending from your savings can prevent the prolonged tension and stress that comes to pay back the loan. People who are bad in handling their finances can fall into the debt trap if they are not careful enough with t...

In today’s world of internet connectivity, a number of tasks which used to take a lot of time are done in a matter of seconds. Whether it is bill payment, online travel ticket booking, hotel booking, online shopping, fund transfer, opening an FD account, paying credit card payments, loan payments or anything related to finances, everything is now at your fingertips. But every coin has two sides so does internet banking services too. A small mistake can cause you dearly in terms of financial losses which can further result in mental harassment. To be on the safer side, it is very important to keep a few tips in mind. We are hereby specifying a list of 10 precautions that one should adhere to while using internet banking. Never use a public computer : Unless and until it is very important and urgent, never use a public computer to log in, to your banking website. When you are in a public place, key loggers, malware, and viruses can result in leaking of your privat...

When the going gets tough, a personal loan gets you going! A personal loan can help you realise many short term and long term dreams. In the absence of adequate savings, you can always fall back on a personal loan. Life is a crazy ride, full of ups and downs. It is a series of phases, the good following the bad, the unexpected following the expected. One can never truly predict what the next turn will bring, or whether one will be taken by surprise sooner or later. The old adage ‘Nothing is constant except change’ holds true in terms of the lives we lead! The same applies to the state of our finances. Despite the most careful planning, there are days when we are short of funds to finance the smallest of expenses. Or our investments that we were most counting on, go awry and we lose a lot of money in the process. Or there comes a time when we need a large sum of money quickly, but we don’t have the means to raise it. But just like there are problems, there are solutions. In t...

If you are concerned about whether your bank is charging you for cash withdrawals or other banking tasks – read on. Demonetisation changed the entire fabric of our society as we know it. As dramatic as it sounds, it was the single most influential event that changed people’s perception about savings and money. Soon after demonetisation was announced on November 8, 2016, people were forced to adopt a digital spending lifestyle – they had money in the bank but no way to get cash! The initial days following the announcement were chaotic, to say the least – banks did not have enough cash to dispense to the public, and it took a while for ATMs to be up and running with the new Rs 2,000 and Rs 500 notes. A few months down the line, in the early part of 2017, some banks in the country sprung an unpleasant surprise on customers. They announced that they would now charge ‘transaction fees’ on cash withdrawals from the bank branch. While some banks like HDFC Bank would charge the t...

Digital banking saves the day at a time when higher taxation spells increased spending. The Goods and Services Tax (GST) rolled out all over the country from July 1, 2017. Since then, consumers have been dreading a rise in prices of daily commodities. Let’s take a look at how GST affects the consumer. How GST affects your monthly expenses From now on, there is bound to be higher taxation on almost all categories of products and services. GST promulgates an 18% levy (9% CGST plus 9% SGST) on every purchase and investment that you make. This is a higher tax bracket than the earlier system. However, GST also has the potential to reduce prices. For instance, the pricing of items under the previous tax structure was based on the product’s base price, plus varying taxes like octroi, service tax, VAT, etc. These indirect taxes are now abolished, so effectively, the product’s price should be reduced. Thus, while GST has raised the tax rate for products and services, ef...

Your smartphone helps you plan your vacation and book it to the last mile. Here’s why you should use it exclusively for your next holiday. If there is anything that can put a damper on your excitement about a trip, it is the planning part of the trip! There is so much information to get, so much cross-checking required, and so much financial jugglery involved. It is enough to make your head spin – unless you take help from your digital banking app. Mobile banking has taken off well in the country, with many customers preferring to go the paperless banking route when transacting their money. Banking apps make transferring money and keeping track of expenses really simple. So when you start planning your holiday, here’s what you can do: Get information. Do your research about the place you want to visit. Look up travel forums, recommendations from people who have recently visited there, reviews for hotels and tourist spots, etc. You can also get in touch with hotels, tour oper...