SBI Corporate Banking

Without a doubt, State Bank of India (SBI) is the largest bank of India with a major network span of more than 15,000 branches and 5 associated banks that are located in even the remotest parts of the country.

The bank, along with Offering a variety of other services and benefits, also provides corporate banking services to a wide Range of audiences. The good thing is that this type comes with different features that are much-needed by corporate entities.

In this post, let’s find out more about SBI corporate banking and how it benefits the non-individual customers.

What is SBI Corporate Banking?

SBI Corporate Banking is one such channel that allows corporate customers, such as trusts, companies, proprietorships, partnerships, and more to carry out banking activities on the internet anytime and anywhere.

SBI provides different types of corporate accounts to ease out the functionality and to meet varying requirements.

Types of SBI Corporate Banking Accounts

1. SBI Saral Corporate Internet Banking

Ideally adequate for individual businessmen, micro-enterprises and proprietorship use, this one is a simplified account that allows a single user transaction. With this SBI corporate Facility, you get transaction rights and can transfer up to ₹ 10 lakhs a day to your own account or the third-party one.

Features of SBI Saral Corporate

• Adequate for a single user for online banking
• Offers facility to view information and download statement
• The user gets the transaction rights
• Users can schedule transactions
• Users can set the beneficiary level limits details
• Users can set up limits for tax transactions and DD issuance
• Improved security by OTP before adding a beneficiary, transferring funds, transacting to merchants and more

2. SBI Vyapaar Corporate Internet Banking

This one is a multi-user transactional SBI Net Banking corporate account that is for small and medium-sized organizations and enterprises. This type is adequate if you want to provide transaction rights or discretionary access to users. Being an administrator, you can create additional corporate users and assign them rights to make a transaction up to ₹ 2 crores.

Features SBI Vyapaar Corporate

• Multiple user access to account
• Online transaction after getting the administrator’s permission
• No restriction on transaction limit in a day
• Facility to upload in bulk
• MIS report generation
• Transfer funds to third-party or own accounts
• Transfer payments through NEFT or RTGS
• Request drafts issuance
• Make payments to registered suppliers
• Schedule transactions
• View account or download DEMAT holding statement

3. SBI Vistaar Corporate Internet Banking

Vistaar account is a comprehensive SBI corporate net banking account meant for large and massive corporations, institutions and government organizations. With this facility, you can allow multiple users to have transaction rights and discretionary access across accounts with varying branches. With no restrictions on daily transactions, this one allows up to ₹10,000 crores transaction.

Features Vistaar Corporate

• Exclusive rights to users on the Basis of hierarchy
• Comprises three different types of corporate role holders, such as Users, Administrator, and Regulator
• Transfer up to ₹ 500 crores to third-party, e-tax and fund transfer
• No limit on every day transactions
• DD request up to ₹ 1 crore
• Set limits for fund transactions
• Bulk upload facility for remittances, bills, pre-paid cards, tax and salary payments
• E-collection facility for direct debit
• End-to-end automation integration
• Online trading in currency
• Apply for IPO via ASBA

4. SBI Khata Corporate Internet Banking

This one is a single user inquiry account that is for small institutions and firms that need to maintain accounts but only wish to make inquiry and download account statements. In this account, transactions are not allowed.

Features SBI Khata Corporate

• Only one user is permitted
• Online inquiry rights at one branch
• View information and download Account Statement
• No online transaction allowed

5. SBI Khata Plus Corporate Internet Banking

A multi-user inquiry product, this is for a bit large institutions and firms that have accounts with multiple SBI branches. This allows an inquiry facility to different users of the firm. Even with this one, online transactions are not allowed.

Features SBI Khata Plus Corporate

• Multiple user enquiry about account maintenance in different branches
• User right restriction by administrator
• View and download statement by authorized users
• No online transaction allowed

Facilities Available Under Different Accounts:

Roles Available in Different Accounts

For each different product, SBI offers a role for the account holder to carry out operations and manage functionality with ease. Some of the useful roles are:

• Regulator

This role is only for Vistaar facility, and it acts as an executive controller. A regulator gets to outline the overall profile and can view or transact on any available account.

• Approver

The approver is an optional role in Vistaar and is meant to check all of the transactions before their authorization.

• Administrator

In Vistaar, Vyapaar and Khata Plus, the administrator role is mandatory. The person gets to exercise management control while creating user IDs and providing access rights to corporate accounts. An administrator also gets to describe the financial powers to make transactions with these accounts.

• Authorizer

An authorizer is a person who looks after the approval of transactions. The administrator is the one who defines these rights. Also, the role of authorizer is only applicable to Vistaar and Vyapaar accounts.

• Enquirer

This role is only to view and download account statements.

• Super Enquirer

With this role, a person gets the rights to enquire upon any account at any branch. However, this role is not mandatory but optional.

• Auditor

Again, the role of an auditor is an option in Vistaar account. Generally, this person is meant to take a second glance at transactions as well as audits.

• Uploader

An uploader role is an optional one in Vistaar and Vyapaar accounts. The responsibility that comes with this role is to upload files that contain bulk transactions in a pre-defined structure.

• Maker

Maker is a role that is applicable to Vistaar and Vyapaar accounts. This one is the creator of all the transactions that take place.

Frequently Asked Questions

1. Who is eligible of availing SBI corporate banking?

A: Any non-individual person, be it a large conglomerate, government organization, institution, trust, firm, small business enterprise, and single man enterprise can avail SBI corporate banking.

2. How can I access corporate internet banking?

A: To access the SBI corporate login, simply visit the official SBI website. Then, click Corporate Banking available above the login option and a homepage will open where you can log into your account.

3. Do all the SBI branches offer corporate banking facility?

A: Yes, all of the SBI branches, across the country, offer this facility.

4. What are the government transactions that can be made through a corporate account?

A: Government transactions like Payments of Direct Taxes (OLTAS), customs duty, excise duty, railway freight, online licence fee, and several other state government taxes can be paid through this account.