“Internet has come as a boon for those who have shunned investments because of the paperwork and the tedious physical process involved in it”, says Prashant Mahesh.

The amount of time taken for investments due to the complex procedures leave many in frenzy. But it’s the internet services that are going to help everyone bringing about a relief while carrying out investments. It has become a huge resource for people who don’t have to spend time checking and re-checking forms, applications etc as the internet will not allow you to make mistakes.

So let’s have a look at the services offered by the net.

ONLINE BANK ACCOUNT
This service helps you to check your account from anywhere without much hassle. You can transfer funds, make payments, pay your electricity, phone bills without the use of checks. An easy method for those who still find banking complex.

ONLINE SHARE TRADING
Well those who are tired of the traditional method of purchasing and selling shares, this online trading method is a boon. You can view prices real-time, with data such as the best five ask and bid price, along with other parameters like the day’s high, low and the volumes traded. You can also analyse your portfolio online. “Today, a total of 11% of all equity trades are executed online, compared to 9.5% a year ago,” says Aseem Dhru, MD and CEO, HDFC Securities. The ‘lite’ versions launched by some brokerages work fine in case you are using a low speed internet.

MUTUAL FUNDS
Now Mutual Funds can also be bought online. It’s just a click away. You don’t have to sign for every investment and there is less paper work. And if you are a new user and have just no idea how to get about such sites; then there are various sites that give a detailed overview of the whole process-something like “Mutual Fund for Dummies”.

COMPANY FDS, BANK FDS AND BONDS
Though they carry higher credit risk, company fixed deposits offer a higher interest rate than banks. “We do a due diligence before recommending fixed deposits to our investors,” says Mr Arora of ICICI Securities. You can invest in fixed deposits online.

IPOS
Investors applying in IPOs can use the Applications supported by Blocked Amount (ASBA) route. If you have an online broking account, an ASBA application can be done at a click of a button.

INSURANCE
Insurance companies like HDFC securities and Religare offered Insurance facilities online. You can buy certain Ulips and term insurance online.

CREDIT CARDS
Credit cards usage is very popular on the internet as it’s easy to purchase stuff through it. And with increased security measures, it’s faster and safer. You get reminders for your bill payments and help you to keep track of your expenses.

HOME LOAN SERVICING
Many banks like HDFC Bank allows customers to pay home loan EMIs online. This works best when you are stationed abroad.

With so many services just a click away finances can be easily taken care of. The amount of work and tedious nature of the job involved while doing investments leaves everyone exhausted. But the internet has been a boon and it would be fruitful for all to use it diligently.

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