Switching Bank Accounts? Know These 7 Simple Steps

Are you interested in switching bank accounts? All banks offer different kinds of benefits to their customers, which give you the liberty to choose your preferred options. If your current bank is not giving you the services you want, then swap your bank account. Switching to a bank with all the facilities you need can …

MAB Full Form in Banking: Meaning, MAB Charges & How to Avoid Them b

When you open a savings account, you typically need to keep a specific balance in it, known as the Monthly Average Balance or MAB. Maintain it and you avoid MAB charges. Banks set an MAB so they can manage funds effectively and offer services such as cheque books, ATM access and branch transactions without billing you separately …

Everything You Need to Know About API Banking Services

Banks with APIs are offering enhanced experience. Many fintech firms appreciate API and the ground-breaking effectiveness it entails. They also have implemented this third-party communication method, which helps in: This one tool is modernising the banking system globally and in India. To understand what is API banking and how it benefits the banking system, read …

Difference between Mobile Banking and Online Banking

When it comes to convenience in financial services, both mobile banking and online banking play a vital role in offering instant access and data. While online banking has been around for longer, mobile banking is relatively new. Both options provide access to financial services but have their separate advantages.  Many financial institutions offer both services …

ID Proof & Address Proof Documents: Complete List for India (2026) 

An identity proof will prove who you are while an address proof document will prove where you stay. In India, commonly accepted ID proofs & address proofs include an Aadhaar card, passport, driving license and voter ID card among others. In case you need to apply for KYC, open a bank account, join an organization, obtain a loan or SIM …

Beginner’s Guide to Open a Salary Account: Why is It Important?

Once you start a career as a professional, you will need a salary account to get your earnings credited each month. This is your first step toward financial independence, and understanding the various salary account benefits will help you plan your finances better. Opening this account takes just a few minutes and requires some documents. …

How to Fill Cheque Correctly: Step-by-Step Guide

Knowing how to fill the cheque correctly ensures your payments go through without issues and keeps your transactions secure. Following the proper steps in your cheque-facilitated transactions prevents errors that could lead to delays or rejections.   To understand what correctly filling out a cheque entails, read on.   What is a Cheque?  A cheque is a …

Complete Guide to Cheque Books: What You Must Know

Wondering how to define a chequebook? A chequebook is a collection of cheque leaf lets that is used to make fund transfers. It is a reliable tool for your payment needs and helps you track and manage your finances.  Despite the growth of digital payments, cheques offer physical proof of transactions, providing you with control …

Everything You Need to Know About Bharat Bill Payment System

The Bharat Bill Payments System, or BBPS, is one of the many digital payment systems accelerating India towards a cashless economy. Gone are the days when you need to carry cash to pay your bill at the office or a designated centre. Now, you have the option to pay any bill from the comfort of …

Difference Between MCLR Rate and Base Rate You Should Know

With the Reserve Bank of India changing its policy, knowing the difference between base rate and MCLR is important when you are planning to take a loan. Since July 2010, the base rate structure has been in use. As per its provisions, banks had to update the rates for loans and deposits every quarter.  However, …