Current Account is primarily meant for businessmen, firms, companies, public enterprises etc. that have numerous daily banking transactions. Current Accounts are cheque operated accounts meant neither for the purpose of earning interest nor for the purpose of savings but only for convenience of business hence they are non-interest bearing accounts. In a Current Account, a customer can deposit any amount of money any number of times. He can also withdraw any amount as many times as he wants, as long as he has funds to his credit. Generally, a higher minimum balance as compared to Savings Account is required to be maintained in Current account.
Current Account can be opened by
An individual who has attained majority
Two or more individuals in their joint names.
Sole proprietorship concerns
Partnership concerns.
Hindu Undivided Family (HUF).
Public & private limited company
Clubs & Societies.
Trusts, Executors and Administrators.
Private Limited Company
Others - Govt. and semi Govt. bodies, local authorities etc.
Open a Current Account and avail following facilities
Any Branch Banking (ABB), Inter Connectivity.
ATM facility available for Proprietary concerns only at ZERO COST.
Remittances: Pay Order, Demand Drafts on any location in India.
Collection of outstation cheques.
RTGS
Documents Required for Opening a Current Account
Two passport size photographs which can be photographed at the Bank counter itself
ID Proof: Passport/driving license/Ration card/voters identity card/PAN Card
Proof of residence: Gas Conn. Book/Telephone Bill/Electricity Bill/Bank Pass Book etc
An introduction of the person from an existing account holder
PAN number / Declaration in form no.60 or 61 as per the Income Tax Act 1961
Basic Features
Nomination Facility
Personalized Cheque-book facility
Standing Instruction Facility
RuPay Debit cum ATM Card
Other Services
ATM usage
8 a.m. to 8 p.m. personalised banking
Fund remittance facility such as issue of Demand Draft, Pay Orders.
Any Branch Banking through Core Banking Solution
Lockers at Competitive Price
Different set of documents are required as per bank's norms if the account is opened by partnership firms, private and public limited companies, HUFs / specified associates, societies, trusts etc.