CIBIL score is very important but not known to many of us. Every one of us needs to be aware about CIBIL score and it is our own responsibility to keep our score high. The full form of CIBIL is Credit Information Bureau (India) Limited. Simply put, it is a mark given to us by…
Category: Banking
What is UTR (Unique Transaction Reference number) in Banking
Let’s see What is UTR (Unique Transaction Reference number) in Banking. As technology makes everything as simple as possible, we have moved to send and receive money through electronic money transfers. It makes everything simple, and we don’t have to fill up forms or stand in long queues at the bank. When transferring money through…
What is Flat rate and Reducing Rate in Banking-Difference
Let us discuss interest Flat Rate and Reducing Rate in Banking. Of late, there are many banking and financial firms that deal with providing different types of loans to meet the overall requirements of the customers. The loans can be home loans, personal loans, vehicle loans, educational loans, and even gold loans. The process of…
What is the difference between NRO Account and an NRE Account
Lets talk about What is the NRO account and an NRE account? There are different types of products and accounts available in the market which would make you a little confused while choosing any one of them for sure. Knowing better about the different available choices can help you make a better decision. Also, it…
SBI minimum balance for savings account changed from April 1
New minimum balance rules announced recently by State Bank of India. The new charges will be applicable from April 1, 2018. SBI reduced the minimum balance penalty charges to 75 percent, currently charges a penalty for non-compliance with its average monthly balance rules. According to the last notification by the bank, the SBI customers holding savings bank…