How To Find The Best Banking App For Your Business?


May 7, 2022

The role of smartphones in business is inexplicable, and knowing it, banks have mobile apps designed to help SMEs easily access their services on mobile phones. With an impressive interface design, advanced security, and enhanced user experience, a mobile banking app meets the expectations of every business.

Opening a business account was a tedious process until the recent past. You need to book an appointment with a senior executive of the bank, visit the branch, and complete the process by submitting the essential documents. After that, you have to wait for weeks to get your business account activated. Nevertheless, the digital banking system has revolutionized the banking system today.

Using a check stub maker or a paystub generator to create pay stubs online is the revolutionary new way for your company to create pay stub forms.

A business account offers several benefits like safeguarding your business funds, tracking your expenses, and simplifying tax returns. The IDFC FIRST Bank mobile app helps you have a single-view dashboard for various business accounts, manage bulk payments, streamline payrolls, and manage maker-checker permissions. You can manage your business through various business accounts offered through the mobile banking app. Some of the prominent accounts include:

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

You can choose a suitable account based on your requirement. Finding the right banking app for business asks for considering various factors. With the IDFC FIRST Bank mobile app, you can find the essential features like:

  • POS Terminal
  • UPI QR Code
  • NACH – Debit
  • Escrow/Nodal Solutions
  • Payment Gateway
  • Bulk Payments – Net banking

Furthermore, the customers can also get a business loan on the app.

Business loans for your business

The IDFC FIRST Bank mobile app is a one-stop solution for business loans to improve your business. If you are eligible, you can avail a loan for business through the app. You may have to provide collateral for getting a business loan. Nevertheless, the IDFC FIRST Bank mobile bank app allows you to apply for mobile finance without any security.

If you are a customer of IDFC FIRST Bank, you can get a business loan based on the business account you hold. The app helps micro, small, and medium enterprises (MSME) get loans to buy raw materials, use as short-term working capital, or upgrade their business facility.

Entrepreneurs who have one crore turnover and run a business for a minimum of three years can apply for a loan of up to one-crore rupees without any security. The loan tenure is for 48 months. The applicant must submit proof of documents related to identity and address proof, GST, business, and income.

Get a business loan on IDFC FIRST Bank mobile app 

Unlike the traditional loan application process of visiting a bank, searching for suitable business loans, checking eligibility, and applying for a business loan, most private banks in India, including the IDFC FIRST Bank, allow online processes without any collateral. Some features of it include:

  • Fast application process

The app helps you with the fast loan application process online. You can upload all the documents and complete the loan application process online. If you are eligible, you will get the loan in a few days.

  • Compliant loan tenure

The IDFC FIRST Bank mobile banking app offers its customers loans in flexible tenure of 48 months based on their requirements and eligibility.

  • Low-interest rate

You can avail of business loans at competitive interest on the IDFC FIRST Bank mobile banking app.

  • 24×7 hour accessibility

The app offers easy accessibility to apply for a business loan anytime and anywhere. You can also track the processing status through the app.

With the IDFC FIRST Bank mobile banking app, you can avoid the tedious and time-consuming process of getting a business loan.