These tailor made products are suitable for traders, small businesses, and self-employed professionals with an annual turnover below Rs.2 crores. The following are the types of PNB current accounts: It comes with a variety of features and choice of variants to meet the differential needs of customers. The maximum withdrawal limit offered by Sahaj Current Account is Rs.15,000 per day. The account offers a wide range of benefits based on account usage. It also provides free RTGS and NEFT transactions and 100 free cheques per month. Given below are the minimum balance requirements: Types of Karur Vysya Bank Savings Accounts Listed below are the variants of SME Power: The account is designed for small to mid-range businesses, and it requires a quarterly average balance as low as Rs.1,000. HDFC BANK is a leading Bank of India providing host of Banking services to its customers. If you are a startup based out of India looking to open a Bank account - the making of this decision can be overwhelming in terms of choice of the Bank as the products are far too many and the decision is a long term decision. Enough money to reach the bank’s minimum deposit amount, if it has one Income and employment details, such as a payslip You should not need to pass a credit check to get a current account. This account is designed for businessmen who deal with suppliers in different parts of the country. January 21, 2020 Sumit Kumar Savings Account Zero Balance Savings Account is a type of account where you are not required to maintain a minimum balance. 1,00,000/- However, monthly free limit benefits will be based on the MAB actually maintained in the account during the transaction month and not on the minimum MAB required. Customers can enjoy a myriad of benefits and offered depending on the product selected. The product is ideal for startup firms where the transaction volume is not high. Please enter your email address below. Some salary account can have Joint account holders. Customers can enjoy combined cash deposit limits across all branches in the country. It also offers free RTGS and NEFT transactions as well. b. Earn Points, Get Cash Back. It is one of the most preferred methods of accessing a current account as you can transact even during the non-banking hours. However, you will have to maintain a minimum balance of AED 3,000 on the Personal Current Account. Also, no charges are deducted on deposits up to Rs.10 lakhs. Other features may include internet banking, SMS banking, Free RTGS and NEFT transactions, etc. SME Power current account offers three different variants with varying quarterly average balance. By clicking signup button you agree with our terms and conditions. It would vary from bank-to-bank, for instance, HDFC bank has a minimum 3 transactions under zero balance account. Monthly average balance of Rs.2 lac is to be maintained for one full calendar month. Just took 4 days to open this account and i am using cheque and electronic transfer method. The account is designed for large traders, wholesalers, and manufacturers and it comes with high cash deposit limits. 10,000 per month. You can contact your nearest SBI branch for opening a Sahaj Current Account. It is a cashbook which records the daily transactions under separate columns for debit and credit. The Business Classic Account has a free cash deposit facility and a withdrawal limit of Rs.12 lakhs per month. However, with a minimum daily balance of $5,000 or at least minimum balance … SBI has slashed its minimum balance charges by up to 75%. Savings pods It offers cheque books, debit cards, overdraft facility, etc. This amount varies depending on the type of current account, which can be from as low as RM20 for basic current account, up to RM10,000 for the premium ones. It is one of the most difficult tasks to maintain a minimum balance in the account. Without having to wait in long queues and filling out forms, you can transfer money from your account in the click of a button. The Max Current Account offers a dynamic cash deposit limit at any branch across the country. The following current account products are offered by Axis Bank: The account provides 25 free transactions per month and offers a free cash deposit facility of up to Rs.2 lakhs in home branch and Rs.1 lakh in other branches. The Roaming Current Account Standard is designed to ensure that your business transactions take place at a smooth pace with just a minimum average balance requirement of Rs.10,000. Opening a Current Account is one of the essential requirement while starting a business. There may be charges applicable of withdrawals or deposits after a certain limit even at the bank branch. Service charges for non-maintenance of the above mentioned minimum balance in account will be recovered based on the average minimum balance maintained during each quarter. As the name suggests, the current account offers a number of features to agricultural industries to help them achieve maximum benefits on the deposits. State Bank of India’s decision to impose penalty for not maintaining a minimum balance in savings bank accounts led to a huge furore this year.While the bank did not take back the decision, it made a downward revision of the monthly average balance amount for accounts in different areas. In addition to that, you can also avail 30 demand drafts and pay orders each month. For example, both Ally Bank and Capital One 360 offer free checking and savings accounts with no minimum balance to open an account (and no ongoing minimums either). Please re-enter your phone number. Salary accounts have very low or no requirements for minimum balance. Given below are some of the popular current accounts offered by HDFC bank. The cash withdrawal limit offered by the Sweeps Current Account is Rs.1 lakh per day and the free cash deposit offered is Rs.1 crore per pool for a home branch. The account is eligible for revisions to Edge Business or Exclusive Business accounts. Most of the leading banks provide phone banking services which allow customers to perform a host of activities via calls. This Page is BLOCKED as it is using Iframes. Accounts have very low or no requirements for minimum balance … minimum balance requirement for opening Sahaj... Of utility bills easy and convenient meet the regular transaction requirements of.... 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