DEFINITION of 'Group Banking'

A plan offered by banks that generally provides incentives for groups, such as employees at a company, if the group establishes a banking relationship with the institution. Potential incentives for group banking can include lower interest rates, lower fees and discounts.




BREAKING DOWN 'Group Banking'

Some other benefits of group-banking plans include a single point of contact for the group, and a bank contact which is generally more knowledgeable with the group's plan and needs. Also, many banks may offer group seminars.

RELATED TERMS
  1. Group Health Insurance Plan

    An insurance plan that provides healthcare coverage to a select ...
  2. Limited Service Bank

    Any type of banking business facility that is located separately ...
  3. Universal Banking

    A banking system in which banks provide a wide variety of financial ...
  4. World Bank Group

    The World Bank Group is the world's most prominent development ...
  5. State Bank

    A financial institution that has been chartered by a state to ...
  6. Commercial Bank

    A commercial bank is a type of financial institution that accepts ...
Related Articles
  1. Personal Finance

    Retail Banking Vs. Corporate Banking

    Retail banking is the visible face of banking to the general public. Corporate banking, also known as business banking, refers to the aspect of banking that deals with corporate customers.
  2. Insights

    The World's Top 10 Banks

    Learn more about the world's largest banks and how more financial power shifts eastward as China is home to four of the world's largest banks.
  3. Small Business

    Companies That Offer Unique Employee Discounts

    These companies offer employees great discounts and unique incentives you don't find with your average employer.
  4. Tech

    The Pros And Cons Of Internet Banks

    Learn how internet banking services stack up against those of their brick-and-mortar peers.
  5. Insights

    The Role of Commercial Banks in the Economy

    We interact with commercial banks daily to carry out simple financial tasks. That said, the function and creation of a commercial bank is anything but simple.
  6. Investing

    Banking Stress Tests: Would Yours Pass?

    In weaker economic times, banks may be tested by the government to see how safe they are.
  7. Personal Finance

    Online Banks: Lower Costs And Little Sacrifice

    For many, online banking has become a day-to-day routine. Still, there are some holdouts who refuse to accept the method.
  8. Personal Finance

    Explaining the Federal Discount Rate

    The federal discount rate is the rate at which eligible banks or other depository institutions can borrow funds from a Federal Reserve bank.
  9. Personal Finance

    Can You Trust Your Bank?

    With the large amount of banks closing their doors, can you trust the institution that has your money?
RELATED FAQS
  1. What does the 'FIG' at an investment bank refer to?

    The 'FIG' at an investment bank usually refers to the financial institutions group - a group of professionals that provides ... Read Answer >>
  2. What is the average profit margin for a company in the banking sector?

    Learn what the average profit margin is for companies in the banking sector, along with other evaluation metrics often used ... Read Answer >>
  3. What factors are the primary drivers of banks' share prices?

    Find out which factors are most important when determining the share price of banks and other lending institutions in the ... Read Answer >>
  4. How does investment banking differ from commercial banking?

    Discover how investment banking differs from commercial banking, the responsibilities of each and how the two can be combined ... Read Answer >>
  5. What developed countries have the highest concentration in the banking sector?

    Learn about the developed countries that have the greatest concentration in the banking sector and the most important emerging ... Read Answer >>
Trading Center