Glossary
Explore our comprehensive glossary to demystify terms and concepts in the world of EZIT.
Assets
Assets are the items you own that can provide future economic benefit. They put money into your pocket when converted. They can be movable or immovable. Examples: Fixed deposits, Insurance Policies, Bank Accounts, Gold, Lands, Plots, etc.
Liabilities
Liabilities are what you owe to other parties. They take money out of your pocket. Examples: Home Loan, Personal Loan, Hand Loan, Overdraft, Credit Cards, etc.
PAN
Permanent Account Number (PAN), issued by the Department of Income Tax, Government of India.
Wait Time
How long do you want the EZIT application to wait before it alerts you about your next login requirement? Or, how frequently do you want the application to monitor your activity on the app.
Reminders
The number of times you want the application to remind you before it starts communicating with your nominees.
Primary Nominee
The first point of contact to reach out in case the customer is inactive or non-responsive.
Nominees
The family members or friends with whom you want to share your financial information or wealth.
Query
An offline question you submit for expert opinion or suggestion.
Consultation
An appointment for having a conversation with an expert from a given field.
Specialised Service
A service that is offered by the experts at a standard rate based on certain requirement criteria. Example: Tax filing.
Custom Service
A service that you are unsure of the magnitude or the price, or not available under specialized/listed services. You can request confirmation whether the requirement can be fulfilled or not, and also inquire about the cost. Accordingly, you can pay for the service if you are satisfied with the quotation received.
Bill Payment
A service that is offered in accordance with the guidelines of the NPCI for making payments to a given biller with whom you have a subscription for obtaining services. For example, electricity bills, water bills, mobile recharge, etc.
Will
A legal document that describes how you would like to distribute your assets after you pass away to your loved ones. It also provides an opportunity to express your wishes or any conditions you want the legal heirs to meet before they inherit the property. A will is primarily of two types: registered will and unregistered will. Unless it is in a will, an expression of your wishes in a different form may not be accepted under the law. For example, expressing your wishes in a diary or logging your wishes in EZIT Club digital vault is just for reference but is not equivalent to a will. These need to take the form of a will to have legal binding.
M-PIN
A mobile PIN that allows access to your portfolio. It is an additional layer of security.
EZ Coin
An EZIT Club coin that is offered to you is a token of appreciation for your loyalty and support in growing our company. It is typically equivalent to 10% of your annual subscription base price. For example, if you are on the Prime annual plan, the subscription base price as of today is 999 rupees. Hence, 1 EZ Coin is equivalent to 99.9 rupees, which you should use only for purchasing services on this platform or renewing your subscription. You can't convert them into cash.
Subscription
A membership you obtain with EZIT Club to use our mobile or web applications and services. The services will have a separate price or rate card and are not part of your subscription.
Organization
An entity with which you have an association regarding your asset or liability. For example, banks such as HDFC, SBI, or insurance companies such as LIC.
Reference ID
A unique identification number with which your asset or liability can be identified in a given organization. For example, Bank Account Number, Insurance Policy Number, Loan Number, Property Document, Registration Number, Car Registration Number, Locker Number, etc.