Which Indian Bank is best for current account?
Which Indian Bank is best for current account?
7 Best Banks for Current Account /Business Account in India for 2021 – to boost your business banking
- Documents Required.
- HDFC Bank – Smart up Solution for Start-Ups.
- ICICI Bank Current Account.
- State Bank India – Basic Current Account.
- Axis Bank Current Account.
- Citi Bank Current Account.
- YES Bank Current Account.
What are the 4 types of current account?
Let’s take a look at the different types of current accounts there are, which are based on the different requirements you might have.
- Premium Current Account.
- Standard Current Account:
- Foreign Currency Account:
- Packaged Current Account:
- Single Column Cash Book.
What is the minimum balance in Bank of India current account?
Normal Current Account
| Bank Of India Current Account | Average Quarterly Balance (AQB) to be Maintained | Non – Maintenance of Average Quarterly Balance |
|---|---|---|
| Metro Branches | Urban/Semi-Urban Branches | |
| Normal Current Account | Rs. 5000/- | Rs. 500/- per quarter |
What is required for current account?
Current Account Document To open a current account, KYC documents like identity proof and address proof are required along with business proof. Documents valid for Address Proof are Passport, Aadhaar, Voter’s ID Card, Ration Card, Driving License, Lease/Rent Agreement, Property Documents, Utility Bills.
What is minimum balance for current account?
The minimum balance requirement for opening a Normal Current Account is Rs. 10,000.
Which bank is perfect for current account?
ICICI Bank
Best Banks for Current Account
| Banks | Maximum Cash Deposit Allowed |
|---|---|
| HDFC Bank | Up to ₹2 lakhs per month (for regular current account) |
| ICICI Bank | Up to ₹1.8 crores per month |
| Axis Bank | Up to ₹2 lakhs per month (for regular current account) |
| Bank of Baroda | Up to ₹1 lakhs per month |
What are 2 types of current accounts?
Different types of current account
- Standard current account. A standard current account comes with a debit card and may also include an arranged overdraft option and chequebook.
- Basic current account.
- Packaged current account.
What are the 6 different types of current accounts?
There are a few different types of account to choose from – you just need to pick the right one for you.
- Basic bank accounts.
- Packaged bank accounts.
- High-interest current accounts.
- Business bank accounts.
- Cashback current accounts.
Why current account is required?
Unlike savings accounts that cater to individuals who want to save money, current accounts are mainly used to service the needs of the businesses. Also, current accounts provide higher number of transactions limits on monthly cash deposit / withdrawal (within city or outside city) compared to savings account.
What is difference between current and savings account?
While a Savings Account is one wherein you deposit your savings with the bank and earn interest on the same, a current account is one where you deposit money to carry out business transactions.
Is GST compulsory for current account?
To carry out any financial transaction for your business, you require to set up a Current Account. However, GST is not mandatory to open a Current Account. There is no GST on Current Bank Account.
Can I open online current account?
You can also apply for a Current Account online.
How many people in India have bank accounts?
Mumbai: Up to 80% of Indians now have a bank account, the same proportion that have a mobile phone, but financial inclusion levels are still among the world’s worst, lower than sub-Saharan Africa on some counts, according to a new report.
How to open bank account in Bank of India?
1) Getting a Bank of India Bank Account Opening Form. First step to get an account in Bank of India is to have an account opening form. 2) Filling the Bank of India Account Opening Form. Once you have the Account Opening form with you fill it carefully, affix/paste your photograph & put your signature wherever required. 3) Gathering the Required Documents. Next step is to make sure that you have all the required documents necessary for opening a new account. 4) Visiting the Branch with Form and Documents. Now you need to visit the Branch of Bank of India in which you want to open your Bank Account. 5) Verifying your Form and Documents. Once you visit the Branch with your duly filled form, Original and copies of documents you need to verify them all by showing it 6) Depositing the Minimum Balance. Once your form and documents have been successfully verified you need to submit at least the minimum balance to open your new account i.e. 7) Collecting your Bank Passbook and Other Documents. Finally, you need to visit the bank with your cash deposit slip and collect your Bank Passbook, ATM Card, Internet Banking, Mobile
What are your bank account details?
Bank Account Details. Description – The description of the transaction that provides items such as check number, check recipient, and transaction type. Location (Central Accounting Only) – The location of the of the transaction. Deposit – The amount of any transaction that increased the bank account balance.
What are bank account details?
Bank Account Details. The uncleared details of each bank account are found it the bank accounts section of monthly tasks. That is, transactions that have not yet been reconciled. Once items have been reconciled to the bank statement, they will no longer appear in this particular dialog.
