Opening A Bank Account in India
We help you in opening a current account at a bank (nationalized/ private sector/ PSU) hassle free for your new business which may be a company, partnership or proprietorship concern. We help and guide you through out the process and complete the process without any problem. Normally it takes 1-2 days time to complete the formalities and 10-15 days in getting a cheque book, net-banking password, ATM password, debit card etc which is invariably sent to your business address directly by the bank.
Current accounts are mainly meant for business activities. A Current account is ideal for carrying out day-to-day and frequent business transactions. There is no restriction on number of transaction per day in such accounts unlike other forms of bank accounts (saving bank a/c, recurring deposit a/c or fixed deposit a/c) and are most suitable for business operations. Current Account facility is available at most of the bank branches. In present days most of the banks have a range of current accounts based on minimum amount of average quarterly balance (AQB) the client needs to maintain in it. Choose the right one now that which suits to your requirements.
There are accounts for entrepreneurs of all kinds namely Individuals, proprietorship firms, partnership firms, HUF, private limited companies, public limited companies, institutions, societies, trusts, body of individuals, association of persons etc. Various public/ private sector banks offer to choose a suitable variant of current account to that will fit into your requirements. However no interest is paid in a current account deposits but various services are charged, invariably. The banks offer a horde of features that let you focus on your business without having to worry about banking; some of which are chargeable and some are free, to name a few as under:-
- Unlimited cheque book (chargeable basis)
- Online or Net Banking
- Phone Banking
- Designated relationship officer
- Online fund transfer through NEFT/ RTGS
- Downloading e-statements
- Debit card/ credit card facility
- Free SMS alert of every transaction
Depending on the current account you choose, there can be free cheque-books and International VISA/ Master Debit Cards. Your account can be easily operated from anywhere in India or abroad. Operate and track your financial transactions at your convenience, from your office or home. These bouquet accounts give you the power to carry on business with ease anywhere in India or abroad. The features include free fund-transfers & cash withdrawals and e-statements.Requirements
- PAN Card of Firm/ Company/ Institution
- PAN Card of partners/ directors/ promoters
- Photograph of partners/ directors/ promoters
- Proof of existence of Firm/ Company/ Institution (Registration like ROC, VAT, Service Tax)
- Identity proof of partners/ directors/ promoters
- Residence proof of partners/ directors/ promoters
- Account opening form (duly filled, signed & complete in all respects)
- Introducer (The introducer's account with the bank should be at least six months old and should show satisfactory transactions. Photograph of the customer who proposes to open the account and also his address needs to be certified by the introducer).
- A Cash/ Cheque of minimum Rs.10,000/- (depending upon the norms of bank & type of current account you choose). Private banks insist upon a cheque from existing bank account to be re-assured about KYC norms.
DOCUMENTS REQUIRED (AS PER RBI)