Breeze Mobile Banking Features

August 26th, 2010

The days of wishing internet and mobile banking had more to offer are gone!  In their place, Standard Chartered Bank is providing a unique platform called Breeze Mobile Banking, which works with the new smart phone, or iPhone banking app.  Instead of feeling frustrated with limitations of mobile banking, you will discover that Breeze does not just meet expectations for what a service such as this should be, but actually surpasses them.  Only weeks ago, the beta of Breeze was launched in Singapore and Malaysia and with incredible success.  Soon, this service will be available around the world, as well as offered on iPad in the fall of 2010.

To show you why Breeze Mobile Banking is receiving such rave reviews, we wanted to go over some of the unique features.  More than likely, you will be astounded at how robust this service is yet amazed at how simple it works.  Even more incredible is that other developers had not thought of the design before.  Keep in mind that the primary reason Breeze is proving so successful is that the design and development were based on what consumers want.  Instead of guessing or choosing features themselves, bank officials took the time to listen to the public, with the result being Breeze.

For starters, the main concern that people have with internet and mobile banking has to do with personal and/or financial information being stolen.  We all know that identity theft has skyrocketed in the past few years, leading to new standards of security being identified and developed.  However, Breeze chose to bypass “dongle”, the type of security that other mobile banking companies offer, instead going with a second temporary password system.  After logging on http://www.breeze.standardbank.com with the chosen user name and password, a second password would be received via SMS.  After entering the second password, it would be voided, and additional temporary passwords provided for future site visits.

Breeze Mobile Banking also has features specific to money coming in and going out.  It is common for people to lose track of money being spent and saved, especially people who have a lot of bills, love to shop, or use Breeze for business purposes.  Instead of using confusing terminology, the platform design uses plain language to eliminate any confusion.  Therefore, the “See my Money” makes it possible for you to see the amount of money available in your bank account with the simple click of a button.  If you find your checking is low, you would use the “Move my Money” feature to complete a transfer.

Then, the “Pay any Card” feature is also helpful, allowing credit card bills to be paid easily and conveniently.  Typically, paying credit cards via mobile banking is not an option and when it is, the process is complex.  However, instead of queuing to an AXS machine or needing to go to a different account online to make the payment, this old method has been eliminated.  Instead, you choose this option and in minutes, the card indicated has been paid.

One of the more innovative features provided with Breeze Mobile Banking is called e-cheques (or e-checks).  Interestingly, this is the world’s first e-check system, which has left a huge impression on customers.  For this, you would register people you want as payees and using the system and mobile iPhone or iPad, choose the person to pay, fill in the amount of the payment, submit, and a check is mailed to that person.  This particular feature is beneficial for personal accountholders, but especially business accountholders.

Be Wiser, Compare Mortgage Rate Quotes

May 7th, 2009

Housing loans are a great help because they offer loan amounts for your monetary needs and also develop programs to suit client needs. Varying offers will start the dilemma in selecting the most suitable program, and resolving this will require the borrower to compare mortgage rate quotes for the lowest mortgage rates.

Differing customer needs and growing competition among financial institutions added several factors to be considered in selection process. Housing loan is one important decision to make and so, careful evaluation should be done to avoid future issues and conflicts.

One major comparison point among lenders is the interest rate. As you compare quotes, you will notice that the interest rates only have very minimal discrepancy. It normally differs only in decimal places and borrowers might think that this will also have minimal effect on them. What they don’t realize is that this can have a tremendous impact during the payment term. Rates of 1.15 and 1.16 can cause borrowers thousands of money and hence, they should pick out the company with the lowest interest rate.

Another important rate to consider is the Annual Percentage Rate, or APR. This is normally overshadowed by the interest rate causing it to be unconsidered when borrowers compare mortgage rate quotes. This is an additional percentage to be paid for the entire loan duration. This covers interest cost and other fees demanded by the lender. Most people are not familiar with this and so, some companies implement lower interest rate to attract customers but transfers their rate in APR. A company with interest rate of 6.45% and APR of 6.75% will cost you more, compared with the company having 6.50% and 6.60% interest rate and APR.

Lock-in term is the next rate factor to consider. This is the period of time that will guarantee charging of fixed rate. The longer the lock-in term, the longer the borrowers can have a constant interest rate. It will be difficult to have two offers if they have different lock-in terms and hence, borrowers can have better comparison when lock-in term is the same.

As they say, collect and collect then select. This is also applicable in house loan. Collect as many offers as possible and compare mortgage rate quotes to select the offer that will be the least burdensome for borrowers.

Mortgage Calculator: Lose that Stress from Doing the Math Yourself

February 5th, 2008

When considering a mortgage loan, knowing how much money you have and will have and how much you are willing to pay for the loan including the interest and principal is very, very important. To help you decide on projecting how much you will be paying bi-weekly or monthly, depending on the payment term you choose for the entire loan period of your mortgage, various mortgage calculators are available.

These mortgage calculators are categorized into 15 classifications depending on the type of mortgage you want and the terms in interests and principal you want to apply. These classifications for mortgage calculators are the following:

a. Mortgage calculator to determine a borrowers ability to afford a house. This type of calculator can be classified into two. There is a mortgage calculator that determines if a borrower can afford a house and mortgage calculator to help the borrower determine if it is better for him to make a small down payment or no down payment at all or save up first, then make a bigger down payment later on.

b. Mortgage calculator for consolidating non-mortgage debt. There are three types of calculators under these. The first one is used for borrowers who want to consider merging non-mortgage debt in their bought mortgage. The second type of mortgage calculator is for those who want to consider refinancing their mortgage by cash-out or by taking another mortgage. The third kind is for borrowers who already have 2 mortgages for a particular loan and are considering other options to help pay off the 1st mortgage.

c. Mortgage calculator to determine the monthly payments of their mortgage. The types of mortgage calculator to be used will depend on the terms you choose. There is a mortgage calculator for fixed rate mortgages, adjustable rate mortgages without negative amortizations, adjustable rate mortgages with negative amortizations, adjustable rate mortgages with flexible amortizations and mortgage payments with temporary buy downs.

d. Mortgage calculator to determine how much interest borrowers can save should he decide to pay an additional amount for the principal value during payment. The mortgage calculator varies depending on the number of payments a borrower is willing to give. These are extra monthly payments, bi-weekly payments applied monthly, bi-weekly payments applied bi-weekly and extra monthly payments to be paid in a specific period.

e. Mortgage calculator to determine if refinancing a mortgage will reduce its cost. This type of mortgage calculator can be applied to a borrower who wants to refinance a mortgage or 2 mortgages. Other calculators are used to determine if refinancing one mortgage into two can reduce costs while others are used to determine if cash-out refinancing is better than deciding to take on a second mortgage.

f. Mortgage calculator for determining the length of time borrowers have to pay insurance premiums applied to their mortgage.

g. Mortgage calculator to determine amortizations. There are 2 kinds of these. One determines the savings a borrower can have on his tax on the interests and the second mortgage calculator determines the appreciation of property being mortgaged.

h. Mortgage calculator to compare two mortgages. These are different types of calculators that compare the various mortgages that include amortizations and non-amortizations, government and non-government loans, fixed rate and adjustable interests.

i. Mortgage calculator to compute points and fees in a mortgage. The calculator is used to determine the rate of return of ARMs (Adjustable Rate Mortgages) and FRMs (Flexible Rate Mortgages) and the amount that can be saved or lost by using paying points for interest reduction on FRMs.

j. Mortgage calculator for determining amounts to be paid for a mortgage insurance and down payment and

k. Mortgage calculator to determine the feasibility of having a mortgage loan in a shorter term.

These mortgage calculators and other various mortgage calculators are available for use in the Internet. Companies such as Freddie Mac, Fannie May, Real-Time-Rates.Com and Mortgage-X have interactive pages in their websites where you can do your calculations online. Aside from these, other sites such as HSH Associates give free downloads of their loan calculators.

Tags: , , , , , , , , ,

Mortgage Quote: A Glimpse of Your Actual Mortgage

February 5th, 2008

In all major purchases and undertakings we make, quotes are essential to see if we can afford a certain program or project and if we are able to get the best deal from among the numerous deals various companies are offering to address what we need and want. This is also true if we have plans of getting a mortgage.

A mortgage quote is an estimate or offer made by lending companies to potential borrowers for a home mortgage. It usually contains the estimated monthly payments you need to give for a home mortgage

A mortgage quote is influenced by a number of key factors such as the type of the loan you want to avail of, the number of years you need to pay the mortgage and your credit report. Mortgage quotes vary from one lender to another so, it is good to check and try out the various mortgage quotes offered by various lenders. The Internet is a very good source to get each online lender’s mortgage quote.

Aside from being able to get the best deal among lending and mortgage companies, mortgage quotes are essential in purchasing or refinancing such that you also get to know the latest mortgage rates in the market. Mortgage rates fluctuate and change every time even every hour for every state (if you did not know this, mortgage rates vary from state to state). Because of this, it is important that you check the mortgage rates frequently and check if there is an expiration date coupled with the mortgage quotes you got.

When getting a mortgage quote, you also have to make sure that you are well-informed not only of the interest of the mortgage but other information as well such as knowing if the loan is interest-only or is the principal being paid off at the same time while paying. It is also important to be well-informed and knowledgeable about the terms of your home mortgage or loan. There are different types and categories of mortgages and loans and several types of interest and paying periods can be applied to all.

Aside from all of these, it is important that you make sure that the mortgage quote you get from lending companies that you are interested in should include information about other costs that you are expected to pay should you avail of their mortgage programs. Some of these include property taxes, closing costs, insurance costs, PMI costs and other miscellaneous costs which are all essential expenses and rates to be knowledgeable of when you are still thinking how much you can afford for a mortgage loan.

There are many lending companies out there who are willing to give you a mortgage quote but before filling in their forms, make sure that these mortgage companies are credible and have good and standing record.

To do this, shop around and at the same time, try out the mortgage quote being offered that you think will work best for you and your situation. Although the Internet can be a very rich source of listings of lending companies, it is also good to try and check out mortgage quotes offered by local lenders through your local newspapers and magazines and in your telephone directory. Some local lending companies can also be as competitive and as good as the online companies. This is also much favorable for a borrower who wants a personal touch when being assisted with his mortgage quote and other lending needs.

Tags: , , , , , , , ,

Getting a Home Mortgage

February 5th, 2008

So, you’re interested to get a mortgage for your dream house. In order to do this, there are some steps you need to get the right home mortgage for you.

The initial step is to order your credit report from the country’s three major credit reporting agencies which are Equifax, TransUnion and Experian. Your credit report is very important in your home mortgage because this determines your ability to pay off the home mortgage you are applying for. Your credit report reflects how up to date you are on paying your credits, your outstanding balance and the amount of money you still owe. A good standing on your credit report assures the lenders that their risk in investing with you will assure them that they will get their money back and assures you that your home mortgage loan gets approval.

In relation to this, financial experts recommend that it is wise for you to check the credit reports once you have them for errors before submitting these to lenders. The reason for this is that, these errors can cost you thousands of dollars more in interest or it could deny you the home mortgage you are applying for.

The second step in taking a home mortgage is to know the current home mortgage rates. Mortgage rates fluctuate and looking at certain economic key indicators such as bonds and Treasury notes can help you decide if it feasible to go for a home mortgage now and can help you get interest savings.

The third step in taking a home mortgage is to decide which mortgage program is best for you. There are so many kinds of programs and loans that are available. These include government loans and non-governmental loans called conventional loans. It is best to be educated and knowledgeable about all these home mortgage options in order to get the best for your situation. Some things that you need to consider when you’re in this stage are:
- the amount of money you have for down payment for your home mortgage
- the amount of monthly payment on your home mortgage you can afford without worry and with security
- the number of years you plan to stay on the house or with the home mortgage
- the importance of paying off the home mortgage early
- the ability and an objective to give extra principal payments and,
- your projection of your income’s stability or its possibility to increase in order for you not to have difficulties in paying off your home mortgage in the future.

These should all be considered because remember, a home mortgage is a long period investment and requires huge amounts of money.

The fourth step is to check and compare interest rates among the various lenders. This is the most difficult part but this is where you can usually save off in interests when you are already in the middle of a home mortgage program. Be wary also of terms that different lending companies use that may be pointing to the same thing. Other companies might waive off some fees and then add another one, which might cost you more. Take time to know all the figures behind the names they use for the fees that they give.

The fifth step is to look at the whole home mortgage package. Aside from interests, you need to consider other factors in the package such as the type of mortgage, the type of down payment, the presence of prepayment penalties, lock-in period, mortgage insurance, payment schedule, and other features.

And lastly, when you have decided on the lender for your home mortgage, determine the required documents for your loan. These typically include a completely filled up Uniform Residential Loan Application and your credit report fee. Fees are usually collected when submitting a home mortgage applications. Some of which are application fee and appraisal fee. Other requirements and fees needed to be paid for your home mortgage application may vary from one lending institution to another.

Tags: , , , , , , ,