Current bank accounts are very popular among companies, firms, public enterprises, businessmen who generally have higher number of regular transactions with the bank. The current account includes deposits, withdrawals, and contra transactions. Such accounts are also called the Demand Deposit Account.
A Current account can be opened in most of the commercial banks. A current account being a zero-account, is generally associated with huge transactions on a regular basis. Because of the fluidity that these accounts offer, they don’t earn any interest. These also usually do not carry a limit on the number of transactions which can be made.
- Customer can open Current Account with minimum balance or Rs.1000/-
- We offer 30 pages cheque book.
- We offer nomination facility for all individual accounts and proprietary concern accounts.
- Customer can open joint account and that account can jointly, operate as per instruction like Any one, Jointly, Any two Jointly either-or survivor etc.
- We offer Monthly, Half yearly, Yearly and periodical Statement to our Customers for their rec- onciliation purpose or any other purpose.
- Under these accounts, limitless withdrawals are allowed in line with the levied cash transac- tion fees.
- There are no restrictions applied on the deposits made into the current accounts opened at the bank’s home branch. Additionally, account holders can also deposit cash at other branch- es upon paying small fees as applicable.
- Cheques, pay-orders, or demand-drafts can be issued via a current account for making direct payments to creditors.
- Overdraft facilities are also available for current account holders.
- The businessmen can withdraw from their current accounts without any limit, subject to banking cash transaction tax, if any levied by the government.
- Provides with Internet-banking and mobile-banking to enable businessmen carry out impor- tant business transactions promptly and with ease.
- It also provides various other advantages (benefits) such as:
Deposit and withdrawal of money (cash) at any location.
Multi-location funds transfer
- We are member of Deposit Insurance and Credit Guarantee Scheme in which customers de posits are insured up to Rs. 1.5 Lac.
Rules & Regulation for Current Account
- Every Depositor must have to fulfill KYC norms as per RBI directive.
- The Customer has to give all the valid proof at the time of opening an account under KYC norms as per RBI Guideline.
- The Bank’s management is having right to close the account after notice if account holder does not keep sufficient balance to clear inward cheque or ECS.
- The customer must have to preserve his/her cheque book in his custody. The Bank is not re- sponsible for any misuse of cheque book.
- Cheque book charges will be debited from the account at the time of issue of cheque book. Other Charges which will be applicable will also be deducted from the account.
- Stop payment of particular cheque/s facility is available but the customer has to keep suffi - cient balance to match the cheque amount then only the cheque will be returned with the reason of stop payment and stop payment charges will be levied from the account.
- The Bank has all rights of appropriation, set off, lien and change the rules and regulation.
- No interest will be paid in Current Account.
Requirements to Open Current Bank Account
- Valid Photo I.D
(Any one of proof for all partners/ directors or proprietor (Photo Id))
- Driving License
- Aadhar Card
- Voter ID Card
- Government Approved College/university I.Card
- Government/Semi government/Department I.Card
- Address Proof of proprietor / partners / directors(Any One)
- Electricity Bill (not more than 2 months old)
- BSNL Landline Telephone Bill (not more than 2 months old)
- Municipal Tax Bill
- Other proof acceptable by Bank.
- Passport Size Photograph – 2 Copies
- Registration Certificate of firm/shop and establishment/S.S.I /VAT.
- Partnership deed
- Copy of Memorandum and Articles of Association & Latest Form No.32. (For Company Account) / Resolution to operate the account.
- Pan Card(proprietor / partners / directors/ company) with forwarding letter
- Introduction from existing Account Holder