How to use NEFT or RTGS facitlity even if you dont have Internet Banking

I have already written about NEFT and RTGS sometime back and how does it work exactly. However today, I want to share about using NEFT and RTGS transfer offline in bank branches. Even in today’s time, if some one has to send money from one account to another account, they use cheques and demand drafts. […]

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Everything you should know about Breaking your Fixed Deposits before Maturity

Today let me share the procedure and some points regarding the premature breaking of your fixed deposits. We have seen, that due to the ease of creating fixed deposits online, more and more investors create them if they are not able to find the right purpose of their surplus money and then in case of […]

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Should you become Priority Banking Customer? Are their any advantages ?

Have you ever thought of applying for Priority Banking with your bank (also called as Preferred banking) ? A lot of banks offer something called as “Priority Banking Solutions” to their customers who qualify the eligibility criteria. A priority banking customer is treated in a more special way and is taken care with priority by […]

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Is filing FIR compulsory for issuing duplicate passbook in PSU Banks?

Ayush lost his SBI bank account passbook and faced some issues from SBI bank, which I thought should be shared with others . Here is what happened with him. Read it directly from him (through our jagoinvestor forum) Hello everyone. I recently lost my SBI savings account passbook unfortunately somewhere in my home. When i […]

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File RTI against PSU banks and get all information you wanted ever !

We have already done an article on how to use RTI for any kind of EPF related issues because EPFO is an govt organisation and comes under the purview of RTI . But a lot of people do not know that even PSU Banks come under RTI and if you have any issues with them, […]

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Cheque Truncation System – New Benchmark for Cheques in Banks

It might happen that your cheque’s start bouncing and do not get accepted from Jan 1, 2013 . There is a new standard in banking called as Cheque Truncation System or CTS 2010 , which all the banks have to follow now. RBI has issued a circular telling all banks that they should only process and […]

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How is interest on saving bank account is calculated ?

A lot of people do not know interest is calculated on their savings bank account.In this article I will explain all the aspects of interest on a savings bank account. Earlier all the banks had the same interest on their saving bank accounts, which was 4% , so a person had no choice in terms […]

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IMPS – Online Money transfer in 30 seconds from your Mobile Phone

IMPS or Interbank Mobile Payment Service is a technology which offers an instant electronic fund transfer service through mobile phones between two banks in India. There are other two money transfer systems called NEFT and RTGS already in India, but they are not a mobile payment system like IMPS and they’ll  take some time to get settled. IMPS is […]

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NEFT and RTGS – A detailed Guide

Lets try to understand what is NEFT and RTGS and what is the difference between them. NEFT and RTGS are two main mechanisms to transfer money from one bank to another bank in India. Transferring money between two accounts in same bank is pretty straight forword and its a internal matter of the bank, it does […]

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How to calculate monthly average balance ?

Do you understand what is the meaning of Minimum Monthly Average Balance in your saving account? When you say “Monthly Average Balance of your saving bank account is Rs.10,000” , what does it mean exactly? A lot of people feel that their balance in saving bank account should not go below Rs.10,000 on any given […]

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