Internet Banking Benefits – Purpose of Net Banking in Personal Loan

Apply for an instant personal loan using net banking, aadhaar, PAN, for salary 20000 only and new to credit applicants. Apply on

With the growth in the number of digital avenues for availing products/services, along with the government’s Digital India program, we have showcased acceptance towards the advantages offered by digital transactions. When we say digital transactions, we mean online shopping using your credit card or making payments towards ticket booking or making loan EMI repayments. Being a digital lending platform, everything, at Loan Singh, i.e. from personal loan application to loan amount disbursement, happens digitally.

Despite so much awareness being generated by banks to promote netbanking, some of us have still not adopted internet banking as an option.

There are many more reasons why accessing your bank statement via internet banking is safer and easier.

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What is Net Banking?

Internet banking refers to a set of banking services provided by banks to be performed via the internet. Internet banking is performed through your computer system or smartphone which connects to your bank’s server for any transaction or action. Banking is now no more limited to repeated visits to the bank in-person. You can do most of the banking activities via internet banking. You can easily keep track of your account transactions and balance. Some services that you can perform via Internet banking are:

Accounts Summary

Track your savings account transactions and balance.

Start and manage a Fixed Deposit, a Recurring Deposit or even an FCNR (Foreign Currency Non Repatriable) deposit

Get an overdraft against a fixed deposit

Fund Transfer

Transfer funds within the same bank (between Re.1 to Rs.10 Lakhs per day)

Instant fund transfer using IMPS

Transfer funds to any other bank’s account via NEFT

Perform RTGS between amount Rs.2 Lakhs to Rs. 10 Lakhs

Access to UPI

Transfer funds to someone outside of the country


Download a transaction statement

Track the status of Fixed or Recurring deposits, if any

Track any cheque transactions

Enquire about TDS (Tax Deducted at Source)


Request the bank for a credit bureau report

Update your KYC information

Request for a new Cheque book

Request the issuing of Demand Draft which is couriered to the applicants updated address

Update Permanent Account Number (PAN Card Number)

Submission of Form 15H (No Tax deduction at TDS for Senior Citizens) & 15G (for others)

File your Income Tax Returns


E-Payments for bills like telephone, gas etc.

Send in a request for a new Credit Card, Debit card pin generation, Forex Card or Gift card

Invest in Mutual Funds

Purchase Insurance for protection, savings, health etc.

Offers on interest rates by banks

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Advantages of Net Banking

There are many advantages that Internet banking provides compared to traditional ones, making it easier to operate a bank account.

You can perform multiple financial operations at one portal. No need to stand in queues to update your passbook or pay bills.

It is available 24×7 and 365 days a year at your disposal. Now, with telecom companies making 4G Internet available, you can operate your internet banking account on the go.

Fund transfer happens quickly from your account to others, also allowing you to monitor your account against any fraudulent activity or threat.

You can easily update personal information such as PAN, Aadhaar, etc.

Safety While Using Net Banking

Your personal and financial information is stored in your bank’s internet banking account so it is important to be careful when banking online. Some tips to ensure safety while internet banking, are:

Secured Connection

When connecting to your netbanking account, make sure you do so from a trusted network.

A padlock icon on the left-hand side of the netbanking URL means the connection is encrypted

Make it a habit to include ‘https’ at the beginning of each URL

Safe Browser

A good practice is to logout from a netbanking session thus preventing session hacks. And clear your cache at the end of a session removing traces of sessions from your history. You can even use browser’s incognito mode.

Strong Password

Use a combination of upper and lower-case letters, numbers and symbols to make it unique.

When providing answers to security questions setup by the bank, they don’t have to be genuine.

Keep changing the password at least once in 2 months.


Always try and remember to switch-off your wi-fi when not in use. Do the same for Bluetooth. Avoid using unknown or public wi-fi/hotspots as information sent over an unsecured wireless network is information sent in plain sight – basically opening your internet banking website to anyone on that wireless network.

Protection Software

Use antivirus software on your system which prevents attacks from trojans and other malware.

Keep your operating system and other software updated.

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Net Banking in Personal Loan

At Loan Singh, we expect our borrowers to provide us with their bank statement and PAN Card Number.

The bank statement should only be in PDF format, as this prevents any over writing or tampering. It is advisable to download the bank statement from your netbanking account (in PDF format) and apply for the personal loan.

You can also login into your internet banking account from the Loan Singh website. Nothing to worry, as your information is completely safe with Loan Singh. Our internet banking partner – Perfios, is ISO 27001 (2013 standard) certified and is trusted by big financial brands such as AXIS Bank, HDFC Bank, and more.
The purpose of the bank statement is to look at your monthly income and financial stability and the PAN Card number helps us to request your credit bureau report, if any, to determine if the borrower is credit worthy. At Loan Singh, we don’t just use the conventional methods for assessing a consumer’s credit worthiness. We have our proprietary algorithm to calculate credit score based on multiple factors such as social footprint, academic & professional background, and more.

Applying for a loan on Loan Singh is safe, thanks to the presence of a Secure Socket Layer that maintains an encrypted link between the web server and the browser.

Apply for an instant personal loan using net banking, aadhaar, PAN, for salary 20000 only and new to credit applicants. Apply on

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