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Knowing the difference between NEFT and RTGS can help you choose the right transfer method based on the amount, urgency and your bank’s available channels. Both are RBI-operated electronic fund transfer systems used to move money between participating bank accounts in India, but they differ mainly in how transactions are settled and the minimum amount required for RTGS. NEFT processes transfers in half-hourly …
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If you often leave extra money sitting in your savings account, you may be losing out on better returns. That’s where the automatic sweep feature comes in. Many people search for what is auto sweep facility because it promises higher interest without you having to lock your money away. You can think of it as …
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Credit derivatives are a type of financial contract that helps parties minimise their credit risk. Two parties hold these negotiable bilateral contracts privately and trade them over the counter. In credit derivatives, creditors can transfer the credit risk of a debtor to a third party. In exchange for taking the credit risk, the third party …
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As India continues to adopt digital payments, understanding the difference between NACH and ECS can help you manage recurring transactions more effectively. Both systems are used by banks, financial institutions, companies and government bodies for repetitive payments and collections. ECS and NACH can be used for transactions such as loan EMIs, utility bills, insurance premiums, salaries, pensions and other recurring payments. An ECS/NACH …
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A Non-Performing Asset (NPA) is a loan or advance that stops generating the expected income for a lender because the borrower has not made the required repayment for the prescribed period. In the case of a term loan, an account is generally classified as an NPA when the interest and/or principal remains overdue for more than 90 days, as per applicable RBI …
An NBFC (Non-Banking Financial Company) is a financial institution that lends money without being a bank. Many NBFCs offer personal loans online, so you can apply, complete verification and receive the money without visiting a branch. Most NBFC personal loans are unsecured, so you don’t need to pledge collateral. This guide covers what they cost, …
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Mobile banking is a digital banking service that allows you to access your bank account and complete financial transactions using a mobile phone or tablet. Through a bank’s official app, SMS, USSD, UPI or WhatsApp banking, you can check your balance, transfer money, pay bills, manage cards, download statements and raise service requests without visiting a branch. In simple words, mobile banking helps you carry your …
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This guide explains what a retail loan is, how the application journey works and the difference between secured and unsecured retail loans. You will also find the main types of retail loans, their benefits, eligibility criteria and the documents you need to apply. Read time: about 6 minutes. Picture this: your air conditioner breaks down right before summer, or you finally …
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An e-Mandate is a digital payment authorisation that allows a bank or payment provider to automatically debit a fixed or variable amount from your account on scheduled dates. It is commonly used for recurring payments such as loan EMIs, utility bills, insurance premiums, SIPs and subscriptions. By automating these payments, an e-Mandate reduces the need to remember and manually complete …
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Planning a bank visit in 2026? Before you step out, it’s important to know when banks are closed. In India, bank holidays aren’t random; they follow an official calendar issued by the Reserve Bank of India (RBI). This bank holiday list 2026 includes national holidays, state-specific holidays, 2nd and 4th Saturdays and Sundays. Knowing the …
