A current account is mostly for business people. Many banks have a variable current account (monthly or quarterly) and maximum deposit characteristic of different types of banks. You can focus on your account requirements to select the finest banks for your current account. The current account and saving account are two most popular accounts, or the class of the worker is separated into categories of savings and current accounts. In fact, several of the current account’s qualities below distinguish it from savings account or any other bank account.
- Overdraft facility.
- More free transactions allowed.
- Interest-free account.
- Minimum account balance (MAB) starts from ₹10,000/- (in general).
- Unlimited withdrawal and deposit facility.
- Allows direct payments using cheques, DD and Pay Orders.
BEST BANKS FOR CURRENT ACCOUNT
You may now learn about the varieties of current accounts, maximum cash deposit at the major banks in Indian, after reading the characteristics of the current account. Some of the finest banks with current account may be seen in the table below.
| BANKS | CURRENT ACCOUNT TYPES | MAXIMUM CASH DEPOSIT ALLOWED |
| STATE BANK OF INDIA (SBI) | Regular Current Account | No limit |
| HDFC BANK | -Ultima Current Account -Supreme Current Account -Apex Current Account -EZEE Current Account -Max Current Account -Agri Current Account -Plus Current Account -Current Account for Hospitals and Nursing Homes -Trade Current Account -Current Account for Professionals -Premium Current Account -Merchant Advantage Plus Current Account -Regular Current Account -Merchant Advantage Current Account -Flexi Current Account -Institutional Current Account -Smart Up solution for Start Ups -Ascent Current Account -RFC Domestic Current Account -Exchange Earners Foreign Currency (EEFC) Account -E-comm Current Account -Saksham Current Account |
Up to ₹2 lakhs per month (for regular current account) |
| ICICI Bank | Regular Current Account New Startup Current Account Subhaarambh Current Account Smart Business Account Smart Business Account – Gold Roaming Current Account – Gold Roaming Current Account Standard |
Up to ₹1.8 crores per month |
| AXIS BANK | Normal Current Account Local Current Account Business Advantage Account Business Select Account Business Classic Account Sweeps Current Account Business Privilege Account Channel One Account Club 50 Current Account |
Up to ₹2 lakhs per month (for regular current account) |
| BANK OF BARODA | Baroda Small Business Current Account (BSBCA) Baroda Premium Current Account (BPCA) Baroda Advantage Current Account (BACA) Baroda Premium Current Account (BPCAP) |
Up to ₹1 lakhs per month |
| KOTAK MAHINDRA BANK | -Neo Account -Start Up Regular -Start Up Premium -Global Trade -Ace -Astra 05 -Astra 15 -Elite -Pro -Edge |
Up to ₹5 lakhs |
| HSBC BANK | Business Select Account Business Vantage Account HSBC Direct for Business |
Unlimited |
| YES BANK | Business Value Current Account Business Growth Current Account Business Benefit Current Account Business Edge Current Account |
Up to ₹5 lakhs |
| INDUSLND BANK | Indus Prestige Current AccountIndus Gold Plus Current AccountIndus Gold Current AccountIndus Silver Plus Current AccountIndus Silver Current AccountIndus Blue Current AccountIndus Freedom Current AccountIndus Green Current AccountIndus Escrow Current AccountIndus Max Current AccountIndus Premier Current AccountIndus Dollar One Trade Current Account | Up to 5 lakhs |
| CITI BANK |
|
Up to 5 Lakhs |
| RBL BANK | RBL Traders Current AccountRBL Value Silver 40 Current AccountRBL Value+ Gold 100 Current AccountRBL Value+ Gold 500 Current AccountRBL Exceed Business Banking – Exceed GlobaExtra, Exceed Express, Exceed Global EliteRBL Business Current AccountRBL Business Plus Current AccountRBL India Startup Club Current AccountRBL Self Employed Professional Current Account | Up to 5 lakhs |
BEST CURRENT ACCOUNT FOR SMALL BUSINESS IN INDIA
| BANK | AVERAGE BALANCE |
IDFC Bank Business Current Account |
Rs. 10,000 |
ICICI Bank Smart Business 2.0 Silver Current Account |
Rs. 50,000 |
Baroda Small Business Current Account |
Rs. 2,500 |
Kotak Neo Current Account |
Rs. 10,000 |
BANKS OFFERING ZERO BALANCE CURRENT ACCOUNT
A zero balance feature bank account is not limited to savings. Banks do not give a minimum balance or zero-balance account option to a current account. Below you may open a current account with some of these banks.
| BANK | ZERO BALANCE CURRENT ACCOUNT TYPE | |
| ICICI Bank | Shubhaarambh Current Account New Startup Current Account Chartered Accountant Current Account |
|
| Axis Bank | Local Current Account | |
| Kotak Mahindra Bank | Start up Premium |
HOW TO OPEN CURRENT ACCOUNT?
The procedure of opening a current account is easy online or offline. You can visit and finish the application procedure via the official website of the bank you have selected. In order to hold this account, you must meet the conditions for eligibility that differ from bank to bank.
