There has been a huge progress in technology in the past few decades. From computers to laptops & i-pads, mobile phones to android devices, software to apps, the digital era is all around. So, here we bring to you a set of Best Mobile Banking Apps or Applications in India that are great examples of advancement in the tech world.
Banking Applications: Advancement in Technology
There was an era of computer technology. But, we have pushed it far back with an innovative mobile technology. You talk about anything and everything it’s available on your mobile. So, now it’s actually true when someone says, that they have the world at their fingertips (literally).
Talking about mobiles, it has an application to satisfy all your needs and requirements from simple grocery shopping to complex trading in the market all at one go. You just need the perfect fit app which checks out all the boxes of your requirement listing.
I remember the time when we used to stand in a line for simple banking transactions like depositing or withdrawing money. The frustration and the loss of time were beyond repairs. And the most annoying part was the lunch breaks, which normally were extended beyond the stipulated time. I know many can correlate to this old scenario!
Thanks to the modern technology and broadening ease of services provided by banks. Now, even simple to major banking services related to savings account or current account, are just a click away. You can perform numerous online tasks through different user friendly banking applications.
Mobile Banking Apps: Benefits
So, let’s first go through the facilities provided by various banking applications through mobile phones. In the early 2000s, Mobile banking was only restricted to SMS alerts. But, presently there is a wide array of options provided through numerous banking applications.
The most common services provided by popular mobile banking apps are:
- Account Balance and Account Statement Enquiries.
- Cheque Book Requests and their respective status inquiry.
- Easy Fund Transfer between different accounts. Nowadays, apart from NEFT or RTGS transfer are regulated to be scheduled within working hours. The banks also provide IMPS i.e. 24x7x365 days money transfer facility.
- Instant Credit/Debit Alerts of your transactions.
- Minimum Balance Alerts.
- Easy Bill Payment facility.
- Information Requests like Interest Rates/Exchange Rates etc.
Think of any basic to complex service, all has been made so easy with digital savings bank account and best mobile banking apps.
How to Select a Mobile Banking App?
However, before selecting a good banking application, we must keep in our mind a few pointers:
- User friendly: One surely looks for a set of easy to use and simplified options. A friendly user interface and sleek design attracts users of diversified age groups.
- Safe and Secure: As mobiles are easily accessible, the safety and security needs to be taken utmost care in cases of such banking applications. That simply means, make these protected with a strong password and definitely without fail.
In fact, whether you look for a mutual fund app or stock trading app, the security feature plays a crucial role. After all, having safe access is the topmost priority for any such money related apps in India and the world.
Talking about facts, ICICI Bank was the first bank to launch mobile banking in India in 2008. Since then everyone has followed their steps. Now, every major bank has this facility available for public usage. Although most of the banking apps provide a bunch of similar features. But, you need to to shortlist one as per your priorities.
Best Mobile Banking Applications in India
Let us take you all through the 5 most popular and best mobile banking applications in India and their unique features.
1. Anywhere SBI and YONO (SBI Banking):
SBI has a number of banking apps for a variety of services like SBI Anywhere, SBI YONO, and others. But, Anywhere (earlier called as FREEDOM app) is the app that provides fundamental banking services with all the important facilities.
2. HDFC Bank Mobile Application:
HDFC Mobile Banking App provides access to over 60 transactions anywhere and anytime. It’s the first bank to provide a customizable feature for “My Menu” which allows its users to select 10 favourite transactions for constant display on the application.
3. ICICI Bank’s iMobile Application:
Apart from normal banking facility, the app can help its users to locate ICICI Bank ATMs. One can also link to your loan, Demat account and credit card accounts held with ICICI Bank.
4. Kotak- 811 & Mobile Banking:
This mobile banking app has excellent and super intuitive UI with several in-app features such that you will never have to visit a branch ever.
5. Bank of Baroda’s M-Connect Plus Application:
The M-Connect Plus app is an upgraded version which is very user-friendly and provides all normal banking facilities. The app also allows its users to make cardless cash withdrawals from Bank of Baroda ATMs.
Mobile Banking Apps: A Solid Step towards Digitalization
India is heading towards complete digitalization of the banking system. The launch of useful banking apps, UPI payment system, and other instant online facilities from your phone are just few steps towards it.
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This was our list of some of the Top Mobile Banking Apps in India. Do you have any other mobile banking app to add here? Feel free to discuss.