Internet banking

Internet banking is known by various terms. Some prefer to call it as net banking and some as online banking, e-banking or virtual banking. Whatever be the name it all means the same. As is apparent from its name, an internet connection is what is required to do a transaction through this kind of banking. For carrying out a transaction, you can use any of the devices such as laptop, desktop, tablet or a mobile phone. One thing you need to ensure, you should have a fast and reliable internet connection. In case you are using a mobile or tablet you can even download the relevant app meant for internet banking.

Other than the device and an internet connection, what you require is authorization from your bank for proceeding with internet banking. Asking your bank to authorize you is a very easy procedure. In case your savings account hasn't come with an internet banking provision, all that you need to do is fill a relevant form giving your savings account details and hand it over to your bank. On receipt of the form and necessary verification of your account details, the bank will almost immediately allot you with an id and password for internet banking. However, some of the banks might ask you to write an additional application to the bank manager for providing you with the facilities of internet banking. In that case you can write a hand written application in a plain white paper and submit the same to the bank manager or the concerned clerk. For getting help in writing an application to the bank requesting for net banking facilities, you can go through this article on application format for internet banking.

Once you have obtained the necessary id and password, you are now ready to experience the advantages that internet banking provides to you by bringing banking services at your doorsteps. I will now enumerate some of the many advantages that can be derived from online banking. They are as follows.


Advantages of net banking

  1. Internet banking saves on considerable amount of time. You don't have to spend time visiting your bank or standing in queues that are often the case during peak hours and in the beginning of months.
  2. Sending money through online banking to your near and dear ones and to others is considerably cost effective, as you don't have to pay for the hefty bank charges for making demand drafts. Add to that, the money saved on fuel or bus/auto fare.
  3. Internet banking makes it possible for you to do ticket bookings for buses, trains and airlines from the comforts of your home. You need not spend your valuable time heading to reservation counters and standing in queues.
  4. You can satisfy most of your shopping needs by visiting any of the online shopping portals and pay through your net banking account.
  5. Paying utility bills like telephone, electricity, property taxes, income taxes are all possible by visiting the concerned website and paying through internet banking.
  6. Whether you want to top up your mobile phone or your dish TV connection, you can simply pay for them by pressing a few clicks.
  7. Online banking is a very easy way to open fixed deposits in your names. You need not even visit the bank and fill a bunch of forms. Just fill a few relevant columns and your e-fixed deposit is ready for you. It is also very easy to encash even before maturity, if the need be.
  8. There are other facilities like, you can apply for demand drafts, order cheque books, view your account balances, transactions, tax deductions and a lot more. Whenever required you can download account statements too.
  9. You kind of have permanent access to your bank and can transact at any time of the day, any day in the week.


A few demerits:



Sure, like most other things, internet banking has a negative side to it. They are mostly security issues. One has to be very careful while doing any kind of online financial transaction. Some of the points you should take care of while doing financial transactions on the net are:



  1. Whichever device you use for carrying online transactions, ensure that you have a good antivirus and internet security software loaded into it. Also see to it that the antivirus software is regularly updated.
  2. Don't ever respond to phishing mails. Most of these mails tend to obtain vital information of your account when you respond to them. Responding to such phishing mails often results into accounts getting hacked and your money getting compromised.
  3. Revealing login data like id and passwords to others is not at all recommended and one should be very careful from such people.
  4. Doing financial transactions in internet cafes and in public places is very dangerous. Quite often the login information gets stolen at such places.
  5. Then there are many malware and social engineering attacks, which fraudulently persuade you to transfer money to fraudsters. On the name of your bank and a test transfer, they will ask you to transfer a certain sum. Many have lost their hard earned savings to such fraudsters.


  1. Even though beneficial, the reach of internet banking is limited. One needs to be educated as well as internet savvy to be able to use internet banking for financial transactions. It's mostly in the cities and towns that people use the facilities of net banking.
  2. Then there is another drawback, if at all one calls it as a drawback. With the power to shop sitting in the comforts of home you are very likely to shop more than your requirement. We need to be a bit prudent in deciding what we need and what we can do without.

Online banking facilities typically have many features and capabilities in common, but also have some that are application specific. The common features fall broadly into several categories:


  • A bank customer can perform non-transactional tasks through online banking, including –
    • Viewing account balances
    • Viewing recent transactions
    • Downloading bank statements, for example in PDF format
    • Viewing images of paid cheques
    • Ordering cheque books
    • Download periodic account statements
    • Downloading applications for M-banking, E-banking etc.
  • Bank customers can transact banking tasks through online banking, including –
    • Funds transfers between the customer's linked accounts
    • Paying third parties, including bill payments (see, e.g., BPAY) and third party fund transfers (see, e.g., FAST)
    • Investment purchase or sale
    • Loan applications and transactions, such as repayments of enrollments
    • Credit card applications
    • Register utility billers and make bill payments
  • Financial institution administration
  • Management of multiple users having varying levels of authority
  • Transaction approval process

Some financial institutions offer special internet banking services, for example:

  • Personal financial management support, such as importing data into personal accounting software. Some online banking platforms support account aggregation to allow the customers to monitor all of their accounts in one place whether they are with their main bank or with other institutions.



Five security token devices for online banking.

Security of a customer's financial information is very important, without which online banking could not operate. Similarly the reputational risks to the banks themselves are important.[8] Financial institutions have set up various security processes to reduce the risk of unauthorized online access to a customer's records, but there is no consistency to the various approaches adopted.

The use of a secure website has been almost universally embraced.







Transfer funds



  1. Transfer funds to  accounts
  2. Transfer Funds between Linked accounts
  3. Transfer funds to other bank account through IMPS-IFSC code
  4. Transfer funds to other bank account through NEFT
  5. Transfer funds to other bank account through RTGS
  6. Transfer funds to any mobile number through IMPS using MMID
  7. Transfer funds to an overseas account through Money2World
  8. Cardless cash withdrawal
  9. Receive Funds
  10. Send smart Money Order
  11. Donate Online

Payee Management


  1. Add  payees
  2. Add other bank payees
  3. Add cardless cash withdrawal payee
  4. Confirm Payee for Fund Transfer using URN
  5. View my Registered Payees using URN
  6. Confirm Cardless Cash Withdrawal Payee using URN

Bill Payments


  1. Bill Payment to registered Billers
  2. Pay Visa Credit Card Bill (any bank)
  3. Pay any other Bank credit card using NEFT
  4. Quick Pay
  5. Pending bill payments
  6. Scheduled / Bills on auto pay
  7. Add a new Biller
  8. View and Modify registered billers



  1. Recharge Prepaid Mobile
  2. Recharge DTH connection
  3. Data Card Recharge




  1. Open Standard Fixed Deposits
  2. Recurring Deposits
  3. Tax Saver Fixed Deposit
  4. Open a Value Added RD
  5. PPF account
  6. FD Advice



  1. E-Wallet account creation
  2. View E-Wallet Card Details
  3. Add funds to E-Wallet Wallet
  4. View Mini statement
  5. View detailed statement

View your Transaction status

  1. Scheduled Transactions
  2. Completed Transactions
  3. Payment Summary
  4. Cardless Cash Withdrawal Transactions

Apply for Government schemes


  1. Enroll for Atal Pension Yojana
  2. Enroll for Pradhan Mantri Suraksha Bima Yojan
  3. Enroll for Pradhan Mantri Jeevan Jyoti Bima Yojana
  4. Enroll for Sukanya Samriddhi Yojana

View Statements

  1. Bank Account – Mini Statement
  2. Bank Account – Detailed Statement
  3. E-statements - Bank accounts, Credit Card, Demat





Demat Account


  1. View Holding Statement
  2. View Transaction Statement
  3. View Status of Transaction
  4. View Bill Details
  5. View Personal Details
  6. View Settlement Calendar E-Instruction
  7. Request TIFD Booklet
  8. View Customer Ledger Request
  9. ISIN Lookup View Demat Branches





Invest online


  1. 3-in1 Account
  2. View Demat Branches
  3. Buy Gold Online
  4. Online Tax Payment
  5. Buy Forex
  6. Online Pension Calculator
  7. ISIN Lookup
  8. Online IPO
  9. Trade Shares Online

Insure online


  1. Life insurance
  2. Health Insurance
  3. Travel Insurance
  4. Car Insurance
  5. Two Wheeler Insurance
  6. Home Insurance
  7. Card Protection Plan


  1. Saving account
  2. Credit Card
  3. Demat account
  4. Loan account: Home Loan, Personal Loan, Car Loan
  5. Link My  Lombard Health Policy
  6. Link My  Prudential Policy
  7. Link My  Lombard Motor Policy

Online Tax Payment


  1. View Tax Credit Statement
  2. View TDS Certificate
  3. View E-Tax Challans
  4. View Form 15G/H
  5. Pay Direct Tax
  6. Pay Indirect Tax
  7. Income Tax e-filling





Manage credit cards


  1.  Credit Card payment
  2. Visa Credit Card payment
  3. Other Bank Credit Card payment through NEFT
  4. Credit Card – convert to EMI
  5. Credit Card – alert subscription
  6. Credit Card – current statement
  7. Credit Card – last statement
  8. Credit Card - Past statement
  9. Pay now
  10. Apply for Credit Card
  11. Apply for Gift Card
  12. View and manage Credit Card
  13. Request physical PIN
  14. Generate a 3D Secure PIN
  15. View last credit received
  16. Convert into EMI
  17. Auto debit set-up
  18. alerts subscription
  19. Hand-picked reward points

Manage loan accounts


  1. View Amortization schedule
  2. View Disbursement schedule
  3. View Repayment schedule
  4. Pay Due amount
  5. Pay for Loans
  6. Apply for Loans
  7. Loan accounts
  8. Profile information

Service requests


1. Bank Account


  1. Account not transferred to requested/ new branch
  2. Account conversion from Resident to NRI requested earlier not done
  3. View/ Update PAN Card
  4. Address change requested earlier not done
  5. Transfer Your Account to your nearest branch/ change home branch
  6. Request to update Company/ employer name in the account
  7. Request for change of Communication Address
  8. Link my ATM/ Debit Card to Bank Account
  9. Unblock Debit/ ATM card
  10. Debit card requested earlier not received
  11. Generate Debit Card PIN online
  12. Block Debit/ ATM card
  13. Reissue of Lost ATM/ Debit Card
  14. Upgrade your Debit Card
  15. Request for Duplicate Statement (Physical Copy)
  16. Subscribe to Email Statements for Bank account
  17. Update your Aadhaar number with Bank account
  18. LPG ID updation for DBTL
  19. Query Regarding Cash Withdrawal from  ATM
  20. Query Regarding Cash Withdrawal from Non- ATM
  21. Inquiry on Debit Card Transactions Done at Merchant Outlets
  22. Cheque book requested earlier not received
  23. Request a Demand Draft at Communication Address
  24. Cheque Book Request
  25. Online Funds Transfer to Non- Account not credited
  26. Link my Savings Account/ Current Account to my User ID
  27. Local Cheque deposited in Bank Account but not credited
  28. Outstation cheque deposited in Bank Account but not credited
  29. Stop Payment of Cheque
  30. Cheque Status Inquiry
  31. Enrol for Atal Pension Yojana
  32. Enrol for Pradhan Mantri Suraksha Bima Yojana
  33. Enrol for Pradhan Mantri Jeevan Jyoti Bima Yojana






2. Consumer Loan Related


  1. Request for Repayment Schedule
  2. Request for Foreclosure Statement
  3. CFOC Letter
  4. Request for Agreement Copy
  5. EMI Clearance Status
  6. Loan Accounts-Rectification in Address and Contact Details
  7. Request for Re-dispatch of Refund Cheque
  8. NOC/ NDC Normal Maturity CL

3. Credit Card


  1. Activation/ De-activation of Physical Statement
  2. Credit Card Statement Related Queries
  3. Credit Card Statement Request - E-mail
  4. Credit Card Statement Request - Physical
  5. Request for Cancellation of Credit Card
  6. Request for Address Change
  7. Generate Credit Card PIN online
  8. Reward Points Related Queries
  9. Link my Credit Card Account to my User ID
  10. Block Credit Card
  11. Replacement/ Renewal Card Not Received
  12. Re dispatch Request for Undelivered Card
  13. Incorrect Amount Billed
  14. Dispute Status
  15. Queries Related to EMI-on-Call Facility
  16. Merchant EMI Related
  17. Apply for a Credit Card against your Fixed Deposit

4. Demat


  1. Request for Status of TIFD/ IDT/ Pledge Instruction
  2. Demat Account Maintenance Related
  3. Link Demat User ID to Existing User ID
  4. E-Instructions Related Queries
  5. Registration for Mobile Alerts Facility
  6. Billing Related Queries
  7. Demat for E-Instructions
  8. TIFD/IDT Booklet Reissue Request

5. Deposits


  1. Open a Recurring Deposit
  2. Generate FD Advice
  3. Standard Fixed Deposit
  4. Tax Saver Fixed Deposit : Lock-in Period of 5 years
  5. Special Money Multiplier Deposit
  6. Closure/Renewal of Existing Fixed/Recurring Deposit
  7. Apply for a Credit Card against your Fixed Deposit



6. Home Loan Related


  1. Request for Repayment Schedule
  2. Request for Welcome Letter
  3. Request for Final IT Certificate (Physical)
  4. EMI Clearance Status
  5. EMI not Presented - Post Dated Cheques
  6. Loan Accounts-Rectification in Address and Contact Details
  7. E Mail and Contact Number Updation
  8. Request for Re-dispatch of Refund Cheque
  9. Request For Non PDC Banking Detail








7. Loan


  1. Request for Interest Certificate
  2. Request for Repayment Schedule
  3. Request for Welcome Letter
  4. CFOC Letter
  5. Request for Agreement Copy
  6. Request for Foreclosure Statement PL
  7. Request for Final IT Certificate (Physical)
  8. EMI Clearance Status
  9. EMI not Presented - Post Dated Cheques
  10. Loan Accounts-Rectification in Address and Contact Details
  11. E Mail and Contact Number Updation
  12. Link My Loan Accounts
  13. Request for Re-dispatch of Refund Cheque

9. Personal Loan Related


  1. Request for Interest Certificate
  2. Request for Foreclosure Statement PL


10. NRI Special Service Requests


  1. Demand Draft Request Form
  2. Re-dispatch of returned Demand Draft to the Beneficiary
  3. How is Nomination Done
  4. How to register for an e-Instruction facility
  5. Open a NRE/ NRO Recurring Deposit Account
  6. Request for DCA (Deposit Confirmation Advice)
  7. Renewal of Term Deposit
  8. Credit of Proceeds through Direct Credit to Bank Account
  9. Credit of Proceeds through INR DD
  10. Repatriation from FCNR/ NRE FD via Wire Transfer
  11. Repatriation from FCNR/ NRE FD via DD
  12. Status on Closure of Fixed Deposit
  13. Activation of Inactive/ Dormant Account
  14. Open additional SB NRE/ NRO Account
  15. Transfer Your Bank Account Online
  16. Request with Scan Documentary Proof
  17. Request for upgrade to NRI PRO or NRI PREMIA
  18. Status on Address Change
  19. ATM Card for Mandate
  20. Status of ATM/ Debit Card applied not received
  21. Request for Bank Statement (Duplicate Physical Copy)
  22. Status on Duplicate Statement applied not received
  23. Requested for Cheque book but not received
  24. Link Bank Account to my User ID
  25. Repatriation from NRE SB via DD
  26. Request for TDS Certificate
  27. Status of fund transfer through Internet Banking