Deposits
Current Deposit
The primary objective of Current Account is to help businessmen, firms, companies, public enterprises etc. that have numerous daily banking transactions. Current Accounts are cheque operated accounts. Current account meant 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 hi credit.
Key Features & Benefits:
Unlimited Transactions - No cap on deposits or withdrawals
No Interest Earned - Purely transactional, not for saving
Overdraft Facility - Available on request (subject to eligibility)
Free Cheque Book & Debit Card - For easy payment handling
Online & Mobile Banking - Manage funds anytime, anywhere
Fast Fund Transfers - NEFT, RTGS, IMPS, and UPI enabled
Multi-Branch Access - Operate from any of our branches
Required Documents:
PAN card
Aadhaar or valid ID proof
Business registration/license
Address proof
Partnership deed or company incorporation (if applicable)
KYC of all partners or directors
Account Snapshot:
| Feature | Details |
|---|---|
| Account Purpose | For business or high-frequency transactions |
| Minimum Balance | ₹5,000 – ₹25,000 (based on account type) |
| Interest Rate | 0% (no interest paid on balance) |
| Transaction Limit | Unlimited |
| Overdraft Facility | Yes (optional) |
| Statement Frequency | Monthly or as requested |
| Cheque Facility | Yes |
Important Notes:
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This account is not suitable for saving purposes
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This account is not suitable for saving purposes
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Minimum balance requirement must be maintained to avoid penalties
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TDS not applicable since no interest is paid
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Suitable for daily deposits and payments