Until recently, you had to undergo a lot of paperwork and be physically present in the bank to open a bank account. The digitalization of the banking system has made banking easy and convenient for anyone with online accessibility.
Customers do not have to wait in the bank for long hours now. A business does not require a person to go to the bank to withdraw money or make bulk payments. An entrepreneur can open a business account and enjoy several benefits and business loans.
The IDFC FIRST Bank mobile app helps a business open current accounts that give amazing benefits for its growth in the future. The mobile banking app helps entrepreneurs manage their businesses using its unique features.
Customers can apply for a business account and enjoy several benefits. Some of the online account opening options for business people on the IDFC FIRST Bank net banking app are:
- Current Account
- World Business Account
- Startup Current Account
- Not-For-Profit Organization
- Freedom Current Account
- Merchant Multiplier Account
Various Types of Business Loans for Development
Entrepreneurs can take business loans and get financial assistance to develop their businesses. Whether you own a startup or run a family business, IDFC FIRST Bank offers unsecured business loans to eligible people for business expansions. They can utilize the loan for business marketing, buying new office equipment, meeting working capital needs, upgrading existing facilities, and taking their business to the next level.
You can apply for a business loan through a net banking bank app if your business comes under categories such as:
- Partnership firms
- Sole proprietors
- Private Ltd.
Some types of business loans offered are:
- Professional business loans
If you are a professional like a doctor, CA, consulting engineer, architect, and CS, you are eligible for a professional loan for your business expansions from 30 lakhs to 1 crore. The professionals can avail of collateral-free loans and grow their careers.
- Working capital loans
The IDFC FIRST Bank online banking app offers working capital loans for running your day-to-day business activities easily. You can take a loan for new business opportunities, liquidity, cash flow management, capital expansion projects, forex and trade requirements, and managing day-to-day business functioning.
The benefits of availing of working capital business loans are:
- Capital loans for property for startup, MSMEs, manufacturers, and traders.
- Overdraft account facilities, FX, current account, and payment collection solutions
- Term loans, overdrafts, letters of credit, cash drafts, bank guarantees, and other trade products.
- Relationship management assistance
- Transparent charges
- Gold Card Scheme for exporters
If you are an exporter, you can join a gold card scheme that provides easy access to export credit. This facility is offered to exporters who have a good track record. The processing time includes:
For disposal of fresh applications: 25 days
Renewal of limits: 15 days
Sanction of ad hoc limits: 07 days
So, choose the best banking app for your business and grow your business to the next level. You can also simplify your account using the IDFC FIRST Bank taxation service, payroll system, and EPR accounting system for your business.