Business Banking

By: EconomyWatch   Date: 9 September 2010

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The business banking services provided by the banks help different business to manage their banking needs. The different products and services that are offered by business banking are detailed under the following heads:

>Business Accounts and Plans
Business accounts are can be availed by the non- profit organizations and also businesses that are growing at a very fast pace. They are tailored to different business needs. The Everyday Banking facility can be availed by the businesses. Banking accounts can be accessed online and detailed information of the business accounts and plans is also made available in the web by the respective banks.
  • Borrowing
    Business banking facilitates borrowing by the following channels:
    1. Mortgages: One can avail commercial mortgage facilities that are made available by different banks for the purpose of borrowing. One can refinance, consolidate current debt or think of investing in new property by availing these facilities.
    2. Business Loans: Business loans are available at both fixed and floating rates of interest. Other long term loan plans are also available like leasing or different installment plans.
    3. Operating Capital Requirements: There is loan facility available to fulfill the day to day working capital needs.
    4. Commercial Loan Insurance Plan: Commercial loans that are provided are in large sums and hence the loanee is protected by the insurance cover provided to him by business banking.
  • Investments: There are different types of investment options made available by business banking and they can be listed as follows:
    1. Daily Investments: If one is in search for competitive rates of interest and has sufficient balances to manage his day to day financial needs, then he can avail the daily investment account that are both flexible and secure. The other types of investment planning are:
    2. Short term investment planning
    3. Long term investment planning
    4. Retirement planning.
  • Sectors: Business banking caters to the following sectors:
    1. Small Business Center
    2. Farm, Business
    3. Mid-Sized Companies
    4. Services for the professionals
    5. Specialty Businesses
  • Cash Management: This is another service provided by business banking and include the management of receivables, payments and information.

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