Current Account

 

The current account is the bank account for the business establishment. This type of account is mainly meant for the small and big business establishments, proprietorship firms, partnership firms and all other commercial set ups. The current account witnesses large number of banking transactions on daily basis. This type of account is not for the savings purpose. The account holder won’t get any interest for the funds deposited in this account. The account is operated mainly by cheque. The account holder can make numerous transactions in this account. The withdrawals and deposits can be made several times in this account every day. The nominal service charge is also applicable for operating the current account as there are many transactions done on this account on daily basis. The minimum balance required to be maintained in this account is also higher compared to the savings accounts.

Any individual who has attained the majority can apply for this account. The current account can also be opened by societies and clubs. The sole proprietorship concerns as well as partnership concerns are also eligible for the current account. Other than these, the Limited companies, trusts, administrators, Hindu Undivided Family (HUF), executers, local authorities, government bodies as well as semi-government bodies are also eligible for opening the current account. The Current Account won’t offer any interest as per the RBI directives but in case the account holder dies than the legal heir will be offered the interest on the balance till the account is settled.

The current account is available from the public sector as well as the private sector banks. We will help you go through the various available options. You will be required to submit a residence proof such as electricity bill, passport, ration card, driving license or voter’s identity card to open a current account. Other required documents are PAN number, introduction from other Current Account holder and two photographs of passport size. You can compare the current account service offered by the various banks through us. We will let you select the best service that will save your money and also offer you convenience. Further, we will also accept the online application on behalf of your selected bank. You can fill up the simple application form and we will forward it to the concerned bank soon. Our executives will also make sure that if the online application won’t be accepted then the hard copy is submitted personally to the bank.