Almost every established bank operates its own website with links for each of its branch.  The processing of the online finance can be semi-online or totally online.

Semi online finance refers to the procedure where the application process is done online.  After reviewing the application form, the bank assigns a face-to-face interview with the applicant in the branch locations of the bank.  Following the physical interview, there is an agreement session, where the applicant signs the papers.  Preceding the signing of the agreement, the borrower is required to produce some solid proof relating to his loan needs like address proof, income tax proof, identity proof, proof of employment, proof of income, encumbrance information relating to the property or the title of selling if it were a home or car etcetera.

Since in this form of financing the initial proceeding is online where the borrower tells the bank about his need for money by an online application form and the bank after going through the online application proceeds with the online finance by a physical interview it is called semi online finance process. Examples of these are all forms of secured loans.

In a truly online finance process of lending the borrower need not meet with the bank at any point in time.  All transactions from applying for the loan, through providing proofs, verification, sanctioning of the loan and signing up of the agreement takes place online.  Scanned copies of documents are produced, telephonic verification takes place, the wiring of the money is done electronically once the loan is sanctioned and the repayment of the loan is done with online auto-debit facilitated by digital signature.  Since all the proceedings in such are done online, this is said to be truly online finance where the borrower need not make his physical presence to the lenders office.  Examples of such are credit cards and payday loans.

Online finance has a major advantage in reducing the time spent in getting the loan processed as against traditional methods.  No long hours of waiting and no extensive traveling, everything takes place from the many clicks on your desktop.

A major caution in online finance is with getting cheated by Phishing sites.  With every of your online finance methods you need to be sure that you are not dealing with Phishing sites.