Personal & Corporate Banking | MSME & Agri banking (2024)

FAQs

What is Personal & corporate banking? ›

Retail banking is the part of a bank that deals directly with individual, non-business customers. This operation brings in customer deposits that largely enable banks to make loans to their retail and business customers. Corporate, or business, banking deals with corporate and other business customers of varying sizes.

The basic difference is that net banking is used by individuals for regular, day-to-day transactions, while corporate banking is used by commercial firms for business purposes.

Corporate banking is often more expensive than private banking, but it can provide access to a larger range of services and products. Additionally, corporate banking can offer more personalized service and advice. Private banking, on the other hand, is typically used by individuals and families.

As noted earlier, the principal difference between business/commercial banking and corporate banking is the size and complexity of the borrowing client's operations, as well as the nature of the financial services and products it requires.

Corporate banking is a financial area that involves loaning money and other financial services to businesses. Rather than small businesses or startups, corporate banking serves enterprise corporations while business and investment banks might help smaller businesses grow.

Help multinationals and large local corporations improve their day-to-day financial operations and make strategic decisions. Professionals working in this segment specialize in such areas as cash management, syndicated loans, foreign exchange, commodities and risk management.

Many professionals end up staying in corporate banking for the long term because it offers a nice work/life balance, reasonable advancement opportunities, and high pay at the mid-to-top levels.

Even if your financial institution doesn't say this (check your depositor agreement), you still shouldn't use the same checking account for business and personal expenses. All businesses, even very small ones, should keep these finances separate.

Retail banking primarily serves individual consumers and offers a wide range of products and services tailored to personal banking requirements. It focuses on managing day-to-day finances, savings, and borrowing for personal needs. On the other hand, corporate banking caters to businesses and corporations of all sizes.

Investment banking tends to be more competitive and has a more narrow scope of work. Your focus will involve helping organizations navigate mergers, acquisitions, and IPOs; you'll also underwrite new debts and securities. Conversely, corporate finance is broader.

What is meant by personal banking? ›

It is also known as retail banking. Personal Banking includes essential products like Savings Account, Current Account, and Debit Cards. Financial assistance products like Credit Card and Loans are included under Personal Banking. Services like investment banking and wealth management fall under Personal Banking.

While Personal accounts are designed for the needs of individual clients and are perfect for everyday payments and transfers, Business accounts provide solutions for companies of all sizes and industries.

Wealth and Personal Banking supports individuals, families, business owners, investors and entrepreneurs. We provide products and services that include current accounts, credit cards, personal loans and mortgages, as well as savings, investments, insurance and wealth management.