3 ways to get ahead with your business with a mobile banking app

The introduction of mobile banking apps for android mobile phones has made every banking activity easy and convenient. Today, customers can even manage a business through the app. They can open a business account, get a business loan, and get business advice from the experts. The IDFC FIRST Bank mobile banking app is the best option to take your business ahead. The app provides a one-stop solution to your business needs.

Some of the business solutions offered by IDFC FIRST Bank are:

1. Open a business account

IDFC FIRST Bank allows its customers to open one of the different business accounts through an online banking app. If you are an SME, you can open a bank account and avail of several benefits like managing bulk payments, a single-viewing dashboard for business accounts, streamlining payrolls, and managing maker-checker permissions. Some of the business banking accounts you can open through the IDFC FIRST Bank mobile banking app are:

• Current Account
• World Business Account
• Freedom Current Account
• Startup Current Account
• Not-For-Profit Organization
• Merchant Multiplier Account

1. Get financial assistance for your business

Whether it is a startup or a traditional business, you can get financial assistance to grow your business. The IDFC FIRST Bank offers unsecured business loans to its customers. The business loan helps you to take your business to the next level. You can expand the business market, buy new equipment, meet your working capital needs, and upgrade existing facilities. You can apply for a business loan if your business comes under categories such as:

• Private Ltd.
• Partnership firms
• LLPs
• Sole proprietors

• Professional business loans

For those who are professionals like doctors, CAs, consulting engineers, architects, and CS, you are eligible for professional loans for your business expansions from 30 lakhs to 1 crore. All you need is to fulfill the eligibility requirements.

• Working capital loans

The working capital offered for business from IDFC FIRST Bank mobile banking app can be used for running your business smoothly. The loan is offered for meeting the requirements such as growth, new business opportunity, liquidity, cash flow management, capital expansion projects or forex and trade requirements, and to manage day-to-day business functioning.

The benefits of availing of working capital business loans are:

• You can get a term loan, overdraft, cash draft, bank guarantee, letter of credit, and other trade products.
• Get capital loans for property for MSMEs, manufacturers, startups, and traders.
• Payment collection solutions, overdraft account, FX, current account
• The best assistance from relationship management for all your banking requirements
• Transparent charges

Gold Card Scheme for Exporters

If you are an exporter, you can get a gold card scheme that provides easy access to expert credit. The IDFC FIRST Bank’s mobile banking service allows exporters who have a good track record use this facility. The timelines include:

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.