Most of the people are unfamiliar with the term corporate internet banking. Corporate Internet banking offered by the State Bank of India is a service that facilitates the corporate customers to perform any banking activity online from anywhere at any time.
Corporate customers – Most of the people might not be familiar with this term, it simply refers to anyone other than an individual such as firms, proprietorship concerns, trusts, companies, institutions etc.
Not everyone could get a corporate account; this feature is available only for any non-individual customers that include the ones mentioned above. It could be a single man institution or a small business enterprise, government institution, trust, NGO etc. A common doubt that arises while explaining about corporate banking is how it differs from personal banking. Both are different in its function, in fact, corporate banking feature allows the corporate head or the parent account holder to grant discretionary access to all banking accounts of the internal user. Corporate banking service also grants features that allow the parent or the corporation to manage the permissions dynamically and to monitor the transactions.
According to the size of the corporate, the SBI offers different corporate banking plans or services.
Saral (single user transaction) – This corporate banking pack is designed for sole proprietorship firms, enterprises, individual businesspersons, micro enterprises etc. This type of corporate banking account allows transactions to own and third party account. The user could transfer 10 lakhs per day to both SBI account and any other banks.
Vyapaar (multi-user transaction) – This corporate banking pack is designed for small or medium enterprises that hold an account in any SBI branch. This corporate banking service grants the corporate or account holder or administrator grant rights to specific internal users and transactional right to the users. This corporate banking plan allows the corporate to transfer any amount below 50 lakhs and up to 2 crores if its tax transaction or anything related to government. There is no limit on the number of the transaction.
Vistaar – This corporate banking pack is specially designed for government organizations and government related institutions. Like the above package, this corporate banking plan allows the corporate, owner, or the administrative to grant specific rights to the internal users. The corporate could do a transfer up to 2,000 crores and if its government or tax transaction, the transfer could be done up to an amount around 10,000 crores.
Khata – This one is designed for corporate banking based inquiry for small firms, institutions. The account would be linked to only one customer number only.
Khata Plus – This one is designed for multi-user based inquiry for large firms, institution, companies etc. This account would be linked to several customer accounts.
What are the steps involved to apply for corporate banking feature?
This banking facility could be made available by visiting the SBI branch with the documents of ownership and other documents that prove that you own a firm, an enterprise, a company, or any corporate firm. If you need the registration forms, you could download the registration from www.onlinesbi.com and from the “registration forms” section. You will have to submit the registration form with the required documents to the nearest SBI branch.
Download registration form here – https://corp.onlinesbi.com/corporate/sbi/corp_regisrationforms.html
Systematic procedure to log in to corporate banking account –
Step 1: Open your web browser and navigate to the official website of SBI or click here instead onlinesbi.com
Step 2: On the home page of the SBI, you would find a heading “Corporate Banking”, click the drop-down menu and then select the plan you belong to.
Step 3: Now, click the “Login” button near.
Step 4: On the next page you could find some instructions and warning to avoid any hacking or leakage of account information. Read the instruction and hit the continue button.
Step 5: Now, enter the username and password in the fields that appear on the screen.
Step 6: Once, these informations are entered, click the “Login” button
Step 7: Now, if the username and password match the records, you would be logged into your corporate banking account.
If you require a corporate banking service, refer to the above-mentioned steps visit the nearest SBI branch with all the documents required.