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The precursor for the modern home loan banking services were the distance banking services over electronic media from the early 1980s. The term 'online' became popular in the late 1980s and referred to the use of a terminal, keyboard and TV (or monitor) to access the banking system using a phone line. 'Home banking' can also refer to the use of a numeric keypad to send tones down a phone line with instructions to the bank.

Online Banking

Online banking, also known as internet banking, is an electronic payment system that enables customers of a bank or other financial institution to perform a range of financial transactions through the financial institution's website.It is a element of core banking system. The online banking system will typically tie to or be part of the core banking system operated by a bank and is in contrast to branch banking which was the traditional way customers accessed banking services.

There are many advantages to internet banking over branch banking.Some of the advantages are

·         Permanent access to the bank

·         Access anywhere using mobile or computer

·         Less time consuming and we need not to go directly to the bank

·         Very safe and secure method

·         Helps to transfer the money directly and accurately

·         Easy to use

This type of banking is very effective in today’s world.By using internet banking ,It is now possible to buy and sell any product at anywhere in the world. A bank customer can carry out non-transactional tasks through online banking, including:

·         Viewing account balances

·         Viewing recent transactions

·         Downloading bank statements, for example in PDF format

·         Viewing images of paid cheques

·         Ordering cheque books

·         Download periodic account statements

·         Downloading applications for M-banking, E-banking etc.

Online Banking