“Banking hours” or “Bank branches” are words that are fast fading in today’s technology driven world. Imagine your friends waiting in queue for popcorn while you wait in queue to deposit money? Doesn’t sound very exciting does it? This is the digital era. So why should banking be confined to challans and cheque leaves alone? Banking the virtual way is more relatable to this generation and for the generations to come.
Saving is a choice, not a task. We’ve been exposed to quite a few ways of saving money throughout our lives from the good old piggy bank to chit funds to bank accounts. However, people have this notion that Recurring Deposits provide you with a staggering amount of savings in equal portions. Reality however paints a different picture; recurring deposits constrain your savings in such a way that you save the exact same amount every month.
Time is money and opening a bank account takes time…or does it? For a first timer visiting the bank to open an account, the typical drill involves requesting a token, meeting the bank staff who may not be the happiest to greet you, yet will brief you on everything else that the bank has to offer. You blankly stare at him/her asking your queries which may or may not be answered as he/she will be busy shuffling papers on the desk. Finally, you sign a few forms and go home and wait to hear from the bank. If you are [...]