Often people use their bank’s ATM to withdraw cash or to check the balance of the savings account, but now the bank also offers many services to its customers through ATM, for which there had to be standing hours in the bank branch first.
For those unaware, now there are many things, including Bank’s FD, Tax Deposit Mobile Recharge, which can be dealt with without going to the bank.
Let’s know about 8 services that can be availed using ATM
- Fixed Deposit facility: You can make a Fixed Deposit via ATM. You have to follow the steps stated in the menu. In this, you will have to choose a confirmation period after choosing the amount of deposit.
- Tax Payment: Many big banks in the country are offering the facility to pay income tax through ATMs. These include tax payable after advance tax, self-assessment tax, and regular assessment. However, through ATMs, you need to register for this facility on the bank’s website or branch prior to paying income tax. After this, you can pay tax with the help of ATM.
ATM will issue you a CIN number after cutting the money from the account. After 24 hours you can visit the bank’s website, from which you can print invoices using CIN number.
- Submit Cash at the neighborhood ATM: Many large government and private banks have now installed cash deposit machines. At one time you can deposit 49,900 rupees here. 2000, 500, 100 and 50 rupees notes can be deposited in these machines.
- Payment for an insurance policy: Insurance companies such as LIC, HDFC Life and SBI Life have entered into a contract with the bank so that their customers can pay premium through ATM. You need to keep the policy number ready for this. Select the name of the insurance company in the bill pay section of the ATM. After this, enter the birthday number and mobile number after entering the policy number. After this, enter the premium amount and confirm.
- Apply for a loan: Applying for a small loan personal loan, you can apply from ATM only. You do not need to go to Phone Banking or Bank Branch for this. Many private banks offer pre-approved personal loans to their customers via ATM.
It can be removed through an ATM. The loan amount is calculated through advanced analytics. For this, the record of the customer’s transaction details, account balance, salary and repayment of credit/debit card is seen.
- Cash Transfer: If you are not using NetBanking, you can transfer money from your account to another account with the help of ATM. However, for this, you will have to register in the online or branch and register the account in which the amount is to be transferred. At one time ATM can be transferred to 40,000 rupees. You can transfer the amount several times in one day.
- Bill Payment: Telephone, electricity, gas or other bills can be repaid through ATMs. However, you will have to register yourself once on the bank’s website before paying the bill.
- Train ticket book: Country’s largest government bank, SBI provides the facility to book tickets through many ATMs in the railway building. Under this facility, though only long distance reservation tickets can be booked.