The computation of maturity amount for RD is based on the formula in http://www.iba.org.in/formula.asp.
With real time access to your accounts via mobile banking, financial tools, branch & ATM information and much more – you have all your banking needs right in your pocket.
So what exactly is included in Pocket Banking?
• Mobile banking functions - you just need to login using your Member Number and Internet Banking Access Code
• We’ll keep you updated with the latest offers and promotions
• Locate your nearest branch or rediATM
• Work out how much you could be saving with our simple to use Savings Calculator
• Read our latest news stories and industry updates
• View our product information including rates and fees
• Apply for products or simply complete a general enquiry form to get in contact with us
• Watch the SCU videos for industry updates
• Manage your budget via PocketSmith’s award-winning tool
• Personalise the app by uploading a picture from your phone’s gallery
• Multiple contact options - we’d love to hear your feedback on Pocket Banking
Most of the features above are available without logging into the app - only authenticate when required.
A few things to remember:
• Don’t keep your Member Number and Access Code with your mobile device
• Make sure you logout when you’re finished with Mobile Banking
• Get in touch with SCU immediately if you’ve lost your mobile device or feel that someone may know your login details
• Mobile data usage charges may apply, check with your mobile service provider for details
We collect information on how you utilise Pocket Banking to perform statistical analysis of aggregate user behaviour. We do not collect information about you unless you provide consent for us to do so.
Reserve Bank of India (RBI) proposed that payment of interest on savings bank accounts by scheduled commercial banks would be made on a daily product basis with effect from April 1, 2010. This means that you will earn interest every day!
Keeping this in mind, say you need to buy high end 3D LED TV which cost you Rs 3,39,150 and you do not want to use EMI option and you have enough balance in your bank and you have credit card.
It is advisable to use credit card after billing is done so you shall get 45 days of time (may be lower/higher depending upon your bank and card) without any interest. So now you would be gaining Rs 1,672 for 45 days if the same amount kept in a bank ( assuming interest rate of 4% ).
If you do not have credit card, you can use it to postpone your huge purchases or check how much can earn daily!
"SB Interest Calculator" helps you to find how much interest amount you can earn based on number of days.