Who is eligible for current account?

Who is eligible for current account?

The minimum balance requirement for opening a Normal Current Account is Rs. 10,000. The account provides free corporate internet banking facility. It’s a fixed deposit account with a minimum balance requirement of Rs.

Can anybody open a current account in a bank?

All Indian Banks are allowed to open Current Accounts. You can approach any bank with the requisite documents and on successfully furnishing all details in the application form, the banker will verify all documents and on being satisfied, they will open your Current Account.

Who Cannot open current?

Banks are not permitted to open current accounts for borrowers who have availed any fund or non-fund-based credit in the form of overdraft facilities. 7.

Is it difficult to open current account?

Unlike a savings account, a Current Account can be personalised depending on the business needs. However, the only criteria for a Current Account is the average minimum balance which has to be maintained every quarter. The Current Account opening procedure has also become very simple.

What is difference between CC account and current account?

The bank sanctions a specific limit and your account can go in negative up to that limit. You have to pay interest only on the amount taken as loan….Differences between Cash Credit and Overdraft Account.

Cash Credit Account Overdraft Account
It should be used for the purpose of business. Can be used for any purpose

Can I register GST without bank account?

Bank account details can be added later vide amendment of non-core field. Therefore, Current Account is not compulsory for GST Registration. And, you can use either saving account or Current account to register for GST in India.

What documents are required to open current account?

Documents Required to Open a Current Bank Account

  • Duly Signed Application Form with a Photograph.
  • Identity Proof like copy of PAN Card and Aadhaar Card of all directors or partners.
  • Address Proof like telephone bill or electricity bill.
  • A cheque for opening current bank account.

    Does current account have ATM card?

    ATM cards are given to individual current accounts, joint individuals and to the accounts of proprietary concerns. Get your ATM card have access to the wide network of ATMs across the country to withdraw cash, enquire about your balance, mini statement of accounts, recharging mobiles etc.

    Can I open current account online?

    Now you can open a Current Account online.