Are Bank Lockers totally Safe & is Fixed Deposit really required to get one ?

Today we are going to talk about “Bank Lockers” and how banks use unfair tactics by forcing customers to open a fixed deposit for a very large amount and that too for a long duration. It’s not uncommon to hear bank officials asking for fixed deposits of Rs 5-10 lacs in case you want to get a locker. […]

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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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Best bank in India – With survey & Customer reviews

Which is the best bank in India? Is it yours ? In this article, we will look at the top 6 parameters which define a good bank and look at various Indian banks and how they fared on those parameters. The best way to find out how good a bank is to ask the existing account holders. […]

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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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Which is the best bank for Home Loan ?

Taking a Home loan is a big task in itself and one of the biggest financial decisions. Home loan is the longest debt in our life. At times 10-20 yrs, which makes demands a long term commitment. Each month you have to pay your EMI, sometimes you have to prepay some part of home loan, […]

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