Benefits of Internet Banking in India

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Benefits of Internet Banking
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The Era of Online banking

Online banking has become a norm in todays
fast-paced times with many people not only within
India but across the world relying on the
internet to conduct a number of banking
transactions. Not only is this method of banking
quicker, easier and faster but is also a lot more
convenient than physically having to visit the
bank branch
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Internet Banking New Method of Banking

• Checking ones account, transferring money
  between accounts and making different payments
  online has led to this mode of banking becoming
  one of the most preferred methods amongst Indians
  and people across the world who are time-pressed
  to actually remove time from their busy schedules
  to visit the bank. A person can get a host of
  non-transactional as well as transactional
  features via this method of banking

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Benefits of Internet Banking

• There are plenty of perks that customers who
  adopt this mode of banking can benefit from.
  Some of the key benefits of internet banking
  include
• Convenience
• Better Interest Rates
• Services
• Mobility
• Environment
• Let us explore all the above benefits to know how
  these benefits promotes internet banking

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Convenience

• Outweighing any of the shortcomings of this mode
  of banking the convenience that a bank holder
  gets is tremendous. The ability to make
  transactions and payments from the comfort and
  luxury of ones home or any other location has
  led to a lot of flexibility and less of headaches
  for bank holders. With just a few clicks of the
  mouse, a person can order for cheque books
  online, check their bank account balances,
  enquiring about the different interest rates of
  different financial products updating their
  accounts, etc. are far simpler
• via this method

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Better Interest Rates

• Internet banking means less physical effort on
  part of the bank. Not only does this mean that
  there is less need for office spaces and staff
  but the increased savings that the bank earns can
  be distributed to banks offering higher rates on
  deposits and lower rates on loans. Banks thus
  save tremendously as bank holders resort to
  internet banking. Besides this, many banks offer
  incentives to their customers such as lower
  penalties on early withdrawal of fixed deposits
  and minimum/no deposit accounts for online banking

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Services Mobility

• Services A host of services are at the
  fingertips of bank holders via this mode of
  banking. Some of these include functional
  budgeting, financial planning capabilities,
  investment analysis tools, loan calculators,
  equity trading platforms which are all available
  on the banks website. Many banks also provide
  facility for tax preparation and online tax forms
• Mobility Bank holders get unlimited mobility
  where they can conduct financial transactions
  while on the move

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Environment

• Last but not the least, internet banking has
  helped to cut down the usage of paper, thereby
  being good for the environment where it helps to
  reduce pollution as people do not have to visit
  the bank.

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Thank You