In the realm of consumer finance, the option to convert purchases into Equated Monthly Installments (EMIs) provides a convenient method for managing expenses. However, circumstances may arise where canceling an EMI becomes necessary. Understanding the cancellation processes offered by various banks is crucial. In this article, we delve into the no-cost EMI cancellation procedures for prominent banks, including ICICI, Axis, BoB, SBI, HDFC, Kotak, etc.Before we jump into explaining how to … [Read more...]

KYC (Know Your Customer) is a mandatory process done while opening a bank account. But as per the Reserve Bank of India (RBI) guidelines, banks are also required to perform Re-KYC from time to time to ensure that the customer’s documents and details remain updated.If your Re-KYC is due, Axis Bank will notify you via official SMS or email. It's important to complete the Re-KYC before the given deadline. Otherwise, your bank account may become inoperable and reactivation will only be … [Read more...]

Know Your Customer (KYC) is a crucial regulatory requirement followed by all banks in India, as mandated by the Reserve Bank of India (RBI). It is necessary not only when a customer opens a new bank account but also periodically afterward. Banks may request customers to complete a Re-KYC (Revalidation of KYC) to ensure that customer identification records are updated and accurate.In recent years, Re-KYC has become a more frequent process. Banks now regularly ask existing customers to … [Read more...]

An Online SBI account with viewing rights, permits the account holder to view their account statement and perform limited online tasks. But the major benefit of Online SBI internet banking that is fund transfer through NEFT, RTGS, or IMPS, cannot be enjoyed by the account holder with viewing right permissions.This limitation of not being able to perform fund transfer in Online SBI or Yono SBI app can be removed by upgrading the access level from viewing rights to full transaction rights. … [Read more...]