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Internet Banking – Important Features You Must Be Aware Of

Net banking or internet banking is one of the crucial online facilities that permit you to access your account 24 X 7. Just like a customary brick & mortar bank, net banking allows you to transfer funds, apply for bank cards, book term deposits, and get account statements. You can simply register for the net banking facility when opening a bank account and make the most of the net banking features. So, now whether it is Canara bank or Karnataka bank or any other bank, you do not require to approach the bank as per Canara bank timings and Karnataka bank timings. This is because you can use their net banking facilities to conduct your banking activities or tasks.

Internet Banking

What are the important features of opting for internet banking?

Using internet banking, you can simply conduct a wide range of banking transactions. Some of the prominent ones include –

  • Check your account statements and balances

You can easily log into your net banking account to check out your account balance from anywhere at any time. You can check your current transaction and download the statements for as many months as you want through the net banking system.

  • 24 X 7 transfers of funds

You can easily transfer your funds within the same or distinct banks via the net banking facility using options like IMPS, RTGS, UPI and NEFT. Also, you can conduct overseas fund transfers.

  • Bill recharge and payments

You can make payments of all your utility bills such as landline, electricity, property tax, gas, etc. and set up a standing instruction for their automatic payments. Also, you may recharge your mobile phone connection and DTH, and pay the loan EMIs and credit card bills conveniently.

  • Order debit and credit cards & cheque books

The next crucial feature of opting for net banking is, it allows you to place orders for bank cards and chequebooks. You can place applications for add on and primary debit and credit cards online and get quick delivery.

  • Open deposit accounts

Banks permit you to open recurring and fixed deposit accounts via the net banking platform. You can select your preferred kind of term deposit as well as tenure and earn good returns than those offered on your savings bank account.

  • Place application for loans

You can place applications for home loans, personal loans, and auto loans via the net banking platform. Also, you can access all the required info about the loan before you send your loan application.

  • Make the investments

Whether you want to invest in bonds, mutual funds, shares or other market investments, you can do all of it through the net banking facility. Also, you can link your bank accounts with your investment accounts for debit and credit of your funds.

  • Security

Financial institutions take different measures to make sure you enjoy a thoroughly secure net banking experience. Security features of the net banking system involve multi-factor authentication, spending limits, virtual keyboards, and session timeouts. Also, you may receive email alerts and SMS upon logging into your net banking platform to make sure security of your account from fraudulent activities.

  • File the tax returns

Few of the banks even permit you to file your ITR (income tax returns) on your net banking platform. All you require doing is​ to log into it,​ s​elect the income tax e-filing​ option and file your taxes.

Online net banking in India has received a massive boost post-demonetization and since then there’s no looking back. If you are very busy or extremely tired for keep receiving and sending paper cheques, are fed up with constant trips to banks to make withdrawals or deposits and are weary of strictly working round operating hours, then you must give online banking a try.

Owing to online banking, this specific activity is no longer restricted to strict bank hours and for maximum things, you no longer require visiting the banks. For instance, if you have a Karnataka bank account, then you do not require visiting the bank as per Karnataka bank timings, to conduct your banking activity of fetching your balance statement or transferring the funds, you can simply do so through the Karnataka net banking account. So, you see net banking has removed several banking errands, lowering the requirement for bank visits, standing in long queues, and waiting for long for the banking transactions to be done.

What’s the importance of net banking in the present time?

The major reason banks have switched to net banking is to lower operational expenses while meeting all the challenges of ever-growing competition. There are several reasons for the increase in the growth of net banking facilities, however, the most crucial parameter is that it lowers the need for visiting the bank and standing in long queues for banking transactions. It permits you as a customer to operate with the banks in a contemporary way resulting in reduced wastage of time and even lessens inconvenience and other accessibility problems.

The early success of digitization has even encouraged many banks to increase their online presence by improving their sites, which can perform the activity of opening new accounts, permitting customers to download the forms and processing loan applications, an easier process, which can be done in minutes.

Why must you go for the online banking route?

Here are a few of the crucial advantages of using net banking that you must be aware of –

Simple to use

Compared to conventional bank accounts, net banking is simpler to use. Net banking service is available to you 24 X 7 for 365 days​ ​which saves you considerable time and has no geographical limitation. Also, it is user-friendly and online transactions can cause considerably less hassle as compared to offline transactions.

Instant transfers

Fund transfers are safe and super-fast. You can also pay your bills at any time using virtual cards and even generate automatic receipts. Net banking offers better interest via the online banking route. Moreover, banks offer many services and benefits to attract customers to switch to the online banking route. Additionally, payment cards assist in online transactions as well as purchases. Net banking serves as a route for making investments in fixed-income instruments and even market-linked products.


It is extremely comfortable and convenient to pay bills via mobile wallets. You as a customer can access your bank at anytime from anywhere, endowing you with an easier, faster, more efficient, and good experience vs. physical banking. Checking account balances as well as solving almost any bank-linked service problem is possible using the online banking route.

John Paul
John Paul
John is a full-time blogger and loves to write on gadgets, search engine trends, web designing & development, social media, new technologies, and entrepreneurship. You may connect with him on Facebook, Twittter and LinkedIn.


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