Your business is expanding, to deliver your products to more customers, you may need a working capital loan or you may require term loans or trade finance.
Whether you are a sole proprietor or SME or a Government entity or a large business house, you would need to access a bank to meet your business requirements which could range from regular banking services, corporate accounts, salary accounts, cash management services, short term funding including working capital finance, term loans etc.
This portfolio of services catering specifically to business owners is categorised as corporate banking.
All banks in India and across the globe offer a comprehensive suite of banking solutions to their corporate clients in order to meet their financial requirements.
As India's largest bank State Bank of India (SBI) has a balance sheet size of over ~ ₹ 54 lakh crore. As a full service bank, SBI offers an exhaustive portfolio of products and services across corporate and retail customers, through net banking as well as traditional banking channels.
Let us delve deeper into SBI corporate banking vertical.
SBI's corporate banking services, clients such as businesses, partnerships, companies, trusts and sole proprietorships can carry out their banking transaction online - anywhere any time.
In order to avail SBI's corporate banking internet services ( CINB), all you need to do is to have an active account with any branch of SBI across India.
SBI Corporate net banking offers the following types of corporate accounts.
- SBI Khata
- SBI Vyapaar
- SBI Khata Plus
- SBI Vistaar
- SBI Saral
- SBI khata
As a net banking service to its corporate customers across all its branches, SBI Khata account holders can view their corporate accounts 24*7. You can even download your account statement. However, online transactions are not allowed in this product.
The Khata service is better suited for a single user/proprietorship firm.
- SBI khata plus
SBI khata plus has one add-on feature (in addition to the benefits of SBI Khata) that every authorised person of a company can view all the information with regards to their corporate account with SBI Khata plus.
This provides an inquiry facility to multiple users of the organisation. It is important to note that online transactions are not allowed in this product either.
- Saral SBI
As the name indicates, it is a simple single-user SBI Corporate Banking product built specifically for MSMEs - for sole proprietorship concerns, micro enterprises or individual businessmen who require online transaction facility in their business accounts
and is very user friendly.
The product provides transaction rights to the user involving transfer of funds to own accounts in same branch of SBI / different branches of SBI is ₹2 crore and transfer of funds to accounts other than own accounts in SBI / in other Banks (through RTGS / NEFT) consolidated limit of ₹10 lacs per day.
- Vistaar SBI
This is a complete internet banking suite for large and very large corporations, Government organisations and Institutions.
The facility enables multiple users to have discretionary access / transaction rights across accounts with various branches. The Corporate Administrator creates other users and assigns rights to them for different accounts up to a maximum transaction amount of ₹2000 crore per transaction. There will not be any ceiling on the number of transactions per day.
This facility allows corporate customers to execute urgent economic/business decisions.
- SBI Vyapaar
As the name indicates, SBI Vyapaar helps corporates to meet their commercial demands in making online payments and enhance the traditional way of doing a business.
This is a multi-user transactional product meant for small and medium enterprises and organisations maintaining accounts with a single branch of SBI and who wish to provide discretionary access/ transaction rights to their users.
The Administrator of the Corporate creates other corporate users and assigns rights to them for different accounts up to a maximum transaction amount of ₹50lacs per transaction. There will not be any ceiling on the number of transactions per day.
For example: Direct debit is a facility provided to businesses that have Vistaar services and supply goods/products to their distributors and dealers allowing the company to directly debit their dealers’ accounts held at SBI offices at various locations.
As indicated above, SBI corporate banking offerings are all-encompassing which by and large address the typical financial needs of running a business.
As SBI's corporate banking customer you can view your transaction information, account opening and closure dates, and the account’s total balance.
You can get Demand Drafts and Banker’s cheques made.
You also have a direct debit facility under SBI Vyapaar.
You can even access your corporate Demat accounts from anywhere in the world.
SBI corporate banking solutions also include financed / non-funded facilities, spanning cash loans to structural loans, to fulfil the needs of various industries, trades, and services.
Frequently Asked Questions (FAQs):
Q. What is the URL to SBI corporate banking services?
You can login at SBI corporate banking web portal, https://www.onlinesbi.sbi to access a whole host of information on the various products and services offered to its corporate customers.
Q. How can I access my corporate account statement?
It is a very simple process which begins:
- Clicking the account summary link in 'My Accounts tab'.
- The details of your transaction, deposit, or loan accounts with your account number, and branch name which can be viewed easily.
- The information includes the You can click the account number or the hyperlink to view the latest balance in any account.
- You can also view your account balance statement.
Q. Can a corporate customer upload the inter bank and intra bank beneficiaries in a single file?
SBI corporate banking services has introduced a composite file configuration for beneficiary addition and deletion.
With this facility, corporate customers can upload the inter bank and intra bank beneficiaries in a single file.
Q. Is there an SBI corporate banking app?
Yes, as a part of SBI's corporate e-banking solutions, there is a mobile app called
'Yono Business, an integrated banking solution which can be accessed across devices and can be paired across
Khata Plus, Saral, Vyapaar/ Vistaar and other SBI Corporate Internet Banking versions.
Q. What are the transaction limits permissible under the Saral corporate account?
The following threshold limits are applicable:
- Transfer to own accounts in the same branch of SBI / own accounts in different branches of SBI ₹2 crore per day.
- Fund transfer to accounts other than own account in SBI / Fund Transfer to accounts in other Banks consolidated limit of ₹10 lacs per day.
- Request for DD issue up to ₹5 lacs per day.
- Payment to registered suppliers ₹25 lacs
Q. Can net banking services be utilised by individuals/ personal banking clients?
No. As the name indicates, a corporate net banking solution is exclusively for corporate customers (non-individuals). For individual customers a retail internet banking facility is separately available.