Best Banks for Current Account

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Highlights

  • Checkout best banks to have Current Account in India.
  • Read Current Account types, maximum cash deposit amount allowed.
  • List of banks offering zero balance Current Account in India.

A current account is mainly for those people who are into business. Many banks have different types of current account having variable minimum account balance (monthly or quarterly) and maximum deposit feature. To choose best banks for current account, you can focus on your requirement from the account. Savings account and current account are two most commonly used accounts or we can say that working class is divided into savings and current account types. To be be precise, below are some of the features of current account which differentiates it from savings account or any other bank account.

  • Overdraft facility
  • More free transactions allowed
  • Interest-free account
  • Minimum account balance (MAB) starts from ₹10,000/- (in general)
  • Unlimited withdrawal and deposit facility
  • Allows direct payments using cheques, DD and Pay Orders.

Best Banks for Current Account

Having read the features of current account, you may now read about the types of current accounts, maximum cash deposit allowed at top banks in India. The table below consists of some of the best banks to have current account.

BanksCurrent Account TypesMaximum Cash Deposit Allowed
State Bank of India (SBI)Regular Current AccountNo limit
HDFC Bank-Ultima Current Account
-Supreme Current Account
-Apex Current Account
-EZEE Current Account
-Max Current Account
-Agri Current Account
-Plus Current Account
-Current Account for Hospitals and Nursing Homes
-Trade Current Account
-Current Account for Professionals
-Premium Current Account
-Merchant Advantage Plus Current Account
-Regular Current Account
-Merchant Advantage Current Account
-Flexi Current Account
-Institutional Current Account
-Smart Up solution for Start Ups
-Ascent Current Account
-RFC Domestic Current Account
-Exchange Earners Foreign Currency (EEFC) Account
-E-comm Current Account
-Saksham Current Account
Up to ₹2 lakhs per month (for regular current account)
ICICI BankRegular Current Account
New Startup Current Account
Subhaarambh Current Account
Smart Business Account
Smart Business Account - Gold
Roaming Current Account - Gold
Roaming Current Account Standard
Up to ₹1.8 crores per month
Axis BankNormal Current Account
Local Current Account
Business Advantage Account
Business Select Account
Business Classic Account
Sweeps Current Account
Business Privilege Account
Channel One Account
Club 50 Current Account
Up to ₹2 lakhs per month (for regular current account)
Bank of BarodaBaroda Small Business Current Account (BSBCA)
Baroda Premium Current Account (BPCA)
Baroda Advantage Current Account (BACA)
Baroda Premium Current Account (BPCAP)
Up to ₹1 lakhs per month
Kotak Mahindra Bank-Neo Account
-Start Up Regular
-Start Up Premium
-Global Trade
-Ace
-Astra 05
-Astra 15
-Elite
-Pro
-Edge
Up to ₹5 lakhs
HSBC BankBusiness Select Account
Business Vantage Account
HSBC Direct for Business
Unlimited
YES BankBusiness Value Current Account
Business Growth Current Account
Business Benefit Current Account
Business Edge Current Account
Up to ₹5 lakhs
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Banks Offering Zero Balance Current Account

A bank account with zero balance feature is not restricted to savings account. There are banks that offer current account with no minimum balance requirement or zero balance  account feature. Below are some of these banks where you can open a current account.

BankZero Balance Current Account Type 
ICICI BankShubhaarambh Current Account
New Startup Current Account
Chartered Accountant Current Account
Axis BankLocal Current Account
Kotak Mahindra BankStart up Premium

How to open Current Account?

The procedure to open a current account is quite simple through online or offline mode. You can visit the official website of the bank you have chosen and complete the application process. To have this account, you need to match the eligibility criteria which varies from one bank to another. The general criteria is mentioned below for your reference.

Who are eligible to open a current account?

Even though each bank has their own criteria, there is still a similarity between them. So, the general eligibility which is required by the bank is here:

  • Resident Individual
  • Hindu Undivided Family
  • Sole Proprietorship
  • Partnership
  • Limited company
  • Trust
  • Association/Club/ Society
  • Foreign Institutional Investor
  • Foreign national residing in India
  • Limited Liability Partnership

Personal Loan Interest Rates September 2018
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.25%
ICICI Bank10.99% - 18.40%
IndusInd Bank11.25% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank10.99% - 14.49%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates September 2018
State Bank of India/SBI8.65% - 9.20%
HDFC8.70% - 9.40%
Bank of Baroda8.55% - 9.55%
LIC Housing8.60% - 8.95%
PNB Housing Finance8.99% - 10.75%
ICICI Bank8.85% - 9.10%
Axis Bank8.50% - 8.75%
Citibank8.85% - 9.65%
Indiabulls Housing Finance Limited8.70% - 9.85%
Kotak Bank8.65% - 8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 10.00%
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