Deposit Schemes
Current Account
A Current Account is designed primarily for businessmen, firms, companies, and public enterprises that handle multiple banking transactions daily. It is a cheque-operated, non-interest-bearing account created for business convenience rather than for savings or earning interest. With a Current Account, customers can deposit and withdraw funds any number of times, provided sufficient balance is available. Typically, a higher minimum balance than that of a savings account must be maintained.
Features
Any Branch Banking (ABB) with interconnectivity
ATM facility available for proprietary concerns at zero cost
Remittance services such as Pay Orders and Demand Drafts across India
Collection of outstation cheques
RTGS facility for instant fund transfer
Who Can Open a Current Account
Individuals who have attained majority
Joint account holders (two or more individuals)
Sole proprietorship concerns
Partnership firms
Public and private limited companies
Clubs and societies
Trusts, executors, and administrators
Government and semi-government bodies, and local authorities
Documents Required
Two passport-size photographs (can be taken at the bank counter)
ID Proof: Passport, Driving License, Ration Card, Voter ID, or PAN Card
Address Proof: Gas connection book, Telephone bill, Electricity bill, or Bank passbook
Introduction from an existing account holder
PAN number or declaration in Form No. 60/61 as per the Income Tax Act, 1961