Top Online Banking Mobile Apps in the Indian Fintech Market
The Indian smartphone market is growing exponentially with over 1200 million active users. These smartphones allow users to accomplish various tasks quickly, efficiently, and conveniently. Among those tasks, online mobile banking has emerged as among the most-used applications to handle various financial transactions, including net banking, loan accreditation, and income tax filing. The Indian private banking sector is at the forefront of AI ML adoption for fintech services for banking and insurance.
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Here are some of the top online banking mobile apps in India that are giving their users all sorts of convenience when it comes to online banking.
Kotak has become one of the most popular banks to open accounts online. The app offers the opening of a Zero Balance Savings Account with an Internationally enabled Virtual Debit Card. With the mobile app, users can complete various bill payment registrations including Mutual Fund Unique Identification Number registration, Visa Credit Card Bill Payment, LIC premium payment registration, etc. The app also offers Inter and Intra Bank Money Transfer with BHIM-UPI, IMPS, NEFT, and QR Code payments. Users can also invest in Mutual Fund, ASBA Account, etc. Going beyond, the app offers users to book Ola cabs, shop at Flipkart, IRCTC rail booking, bus booking, movie ticket booking, and much more.
iMobile from ICICI Bank
Recognized as one of the best mobile banking apps, ICICI launched the mobile app back in 2008. The app matches all the features found in its NetBanking services and recently included the Pay Later option for its mobile app users. The app covers all the basic banking necessities including payments, money transfers with UPI, IMPS, NEFT, QR Code, investments with Mutual Funds, IPO, iWISH, IRCTC, Flight, or Hotel booking. With iMobile, users can avail all day-to-day banking services right from their hands.
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HDFC Mobile Banking App
HDFC offers an easy, secure, and convenient platform for over 100 banking transactions from any time and anywhere. Users can recharge their mobile, make DTH payments, pay credit card bills, avail of instant money transfers, Demat portfolio management, UPI payments, etc. The app is also secured with advanced encryption and security to keep the transactions safe. Customers can also subscribe to automatic bill payment service for recurring payments, view, manage, and update savings account, fixed deposits, credit cards, etc.
India’s largest Bank also offers one of the best mobile banking apps. The app like most covers all the essential features and delivers with a great UI. It offers in-app bill register and payment services, all kinds of payments (UPI, IMPS, NEFT, QR Code), mPASSBOOK for account history, in-app investment option, cardless cash withdrawal. However, it uses online banking credentials to login and does not feature a biometric login feature.
Axis bank is another bank that offers the opening of a zero balance digital bank account called ASAP account. It also offers a Virtual Debit Card for international payment usage. The app offers an excellent offers section across various merchant sites in India, a separate credit card section, Touch ID, mPIN login and transactions, in-app bill registration and payments, UPI, IMPS, NEFT, QR code payment options.