What is SBI Corporate Banking?

State Bank of India is the largest public sector bank in India. Headquartered in Mumbai, Maharashtra, the bank has more than 15,000 branches located across the country. The bank caters to retail and corporate customers with a wide range of banking products and services. SBI online banking services are available round the clock. 

SBI corporate banking

The bank caters to corporate customers such as companies, trusts, partnership firms, proprietorship firms through SBI corporate banking channels anywhere and anytime. SBI Khata, SBI Khata Plus, SBI Saral, SBI Vyapaar and SBI Vistaar are the different types of SBI corporate banking accounts.

State Bank of India has internet banking portal known as OnlineSBI. Retail and corporate customers can access their accounts through this portal anywhere, anytime. It supports unified and secure access to banking services for accounts in more than 15,000 branches across the country. This SBI online banking tool has features for managing and using corporate accounts online. The corporate banking tools include regulator, admin, transaction maker, uploader, auditor and authorizer. 

Features of SBI Corporate Banking

  • SBI online banking can generate account statements in a date range for any of the customer’s accounts. The account statement consists of transaction details, opening and closing balance in the account. 
  • With OnlineSBI, customers can issue drafts/ banker’s cheque online. In addition, it allows customers to collect the DD/BC from the branch or issue his mandate to send the DD/BC directly to the beneficiary by courier. 
  • Companies or suppliers that have Vistaar facilities and supply goods to their dealers can enjoy a direct debit facility. It allows the company (supplier) to directly debit their dealers’ accounts maintained at SBI branches at different locations. Dealers don’t need to have INB facilities. 
  • For customers who have an ERP system, ERP systems have built-in security features. It allows them to securely transfer the file from the ERP system to the OnlineSBI system. Here the facilities provided to them: 
  1. Upload of encrypted file: Customers can implement their own encryption logic to encrypt the file, or they can get the same from the SBI. The system supports both symmetric and asymmetric encryption.
  2. Automation of the file uploads from customer ERP to SBI SFTP Server: SFTP client is used for seamless file transfer between Corporate ERP system and SBI server done through Secured File Transfer Protocol. During the course of action, SBI will install the SFTP client on the corporate gateway server. To manage the frequency of push and pull files to and from the SBI server, the corporate entity can set the scheduler.
  • SBI Corporate Online Banking allows customers to look into their Corporate Demat accounts online. They can access the account details and generate the following statements online:
  1. Statement of ownership
  2. Statement of transactions
  3. Statement of billing
  • Working finance products offered by the State Bank of India include a wide range of funded and non-funded solutions ranging from cash loans to structured loans to meet the different demands of all segments of industry, trade and services. 

Types of SBI corporate banking accounts

SBI Khata

SBI Khata provides multiple advantages, allowing customers to access their accounts 24X7. SBI Khata customers can access their account information anywhere. All branches of State Bank of India offer this facility. Here are the key benefits of Khata:

  • Rights of account enquiry
  • Allows customers to view their account information and download the account statement. 
  • Suitable for single user operated accounts.

SBI Khata Plus

SBI Khata Plus users get multiple benefits by accessing their accounts 24X7. With Khata Plus, you can access your account information anytime from anywhere. All branches of State Bank of India offer this facility. Here are the key benefits of Khata Plus:

  • Rights of account inquiry
  • Allows customers to view their account information and download the state of accounts maintained in any SBI branch. 
  • All authorized users of the company are allowed to access the information. 

SBI Saral

SBI Saral a simplified single-user operated and user-friendly product of SBI Corporate Banking ideally suited for Micro, Small and Medium Enterprises (MSMEs) like sole proprietorship, micro-enterprises or individual businessmen who require online transaction facility in their company’s accounts. SBI Saral provides the account holders with transaction rights involving the transfer of funds up to a limit of Rs. 5 lakh per day to own or third-party accounts.

SBI Vyapaar

You can enjoy the following facilities with SBI Vyapaar:

  • Users can enjoy the privilege of transacting over the internet like making payments and conducting business in style.
  • Business can get Vyapaar to facilitate business needs.  

SBI Vistaar

You can enjoy the following facilities with SBI Vyapaar:

  • It lets you operate the business anywhere in the world from anywhere the client wants. 
  • It lets you take urgent financial decisions irrespective of the situation.
  • It empowers people to conduct business in a modern way within the framework set by them.
  • No need to depend on the branch. It offers an all-round business solution online. 

State Bank of India offers one of the best corporate banking and retail banking services in the country. Small businesses can register for corporate banking to enjoy seamless services.