Current Account

Current account is opend by a businessman who have higher no. of transaction regular in soc. like deposits, withdrawals and contra transactions.

Current account is mainly opened for businessmen such as proprietors, partnership firms, public and private companies, trust, association of persons, etc. that has a large number of daily banking transactions, i.e. receipts and /or payments.

Features of the Current Account:

• Daily Minimum balance of Rs. 5,000/-
• Debit / ATM card*
• Internet banking facility.
• RTGS and NEFT payments to other banks.
• Nomination facility (only in case of Proprietary Account).
• Demand Draft at nominal charges
• One personalized cheque book free every year.
• Outstation cheque collections.
• Standing instructions
• Free SMS alerts.

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).
• Limited Companies.
• Clubs, Societies.
• Trusts, Executors and Administrators.
• Others - Govt. and semi Govt. bodies, local authorities etc.

Documents Require for Opening a Current Account

• Two passport size photographs
• Proof of residence i.e. Passport/driving license/Gas / Telephone / Electricity Bill/ Ration card/voters identity card
• 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
• 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.