Why are current accounts the best banking solution for startups?
Current Accounts
are important bank account in the business world. Frequent transactions,
overdraft facility, are few of the many facilities provided by a current that
is not available in other accounts. Current accounts adept with superior
financial services are most suitable for startup companies. Browse through the
below lost and choose the best current account for you:
ICICI Bank
iStartup is
an ICICI Bank current account that specifically deals with providing financial
products to help startup companies get their business ideas in place. The
different features of this current account are:
- Business
Networking with the help of BizCircle,
is an online platform on which you can put forth your products and services for
buyers and sellers to see.
- You can
receive special deals with consulting firms to meet different advisory and
legal support on regulatory requirement.
- You can meet
different Private Entity players and Venture Capitalists at ICICI Bank’s
summits and events.
- Customizable
services are available for your iStartup current account.
- Zero Balance current account for the first six
months.
- Customizable
solutions for payment and collection based on your business model.
- Provisions
on advice for salary solutions for employees.
- You can also
receive business compliments by which you can save on daily procurements on
materials through beneficial offers and deals.
- You can also
avail the help of a Relationship Manager for solutions on how to manage your
financial expenditures.
- Digital
Banking facilities for convenient banking.
HDFC Bank
HDFC Bank
provides SmartUp, a current account with specially crafted financial tools to
meet the needs of startup companies. The paybacks of this current account are
as follows:
- You have a
choice of SmartUp current account options: SmartUp Alpha, which is a zero
balance current account and SmartUp Max.
- You can
avail a wide range of allied services with HDFC Bank which are negotiable:
advisory services, public relations services, content writing services and
more.
- You can use
HDFC Bank’s SmartBuy as a platform
to offer your services and products to potential buyers and sellers.
- Special
Forex rates.
- Affordable
cash payment and collection services at over 2400 locations.
- You can make
payments to vendors and manage salaries of your employees over a combined
platform.
- You can make
both your direct and indirect tax payments through this current account.
Kotak Mahindra Bank
Startup-
Regular Current Account is a Kotak Mahindra Bank current account to
specifically aid startups which are in their early stages of development. Its
features include:
- Daily cash
withdrawal limit of RS. 50,000 and daily transaction limit of up to Rs. 1.75
lakhs.
- You only
need to maintain an Average Quarterly Balance of Rs. 50,000.
- You can earn
attractive returns with the Kotak
ActivMoney facility, where the balance in your current account is converted
into Term Deposits.
- Overdraft
facility up to Rs. 15 lakhs for business requirements that run on a shirt term
basis.
- Free Demand
Draft facility at Kotak Mahindra Bank Branches, which are payable up to Rs 50
oer month.
- No charge
for cheque collection and payments, across India.
- A
Relationship Manager who is dedicated to help you meet your financial needs.
- Import and
Export transactions are made easier with the Forex Live, an online foreign
trading platform.
- No charge
for 24×7 Net Banking, Phone Banking services.
Axis Bank
Axis Bank provides
a Special Current Account which recognizes the financial backing of most
startup companies and thus provides special banking facilities to suit their
cause. The benefits of this current
account include:
- This current
account works as a zero balance account for the first 24 months.
- Unlimited
cash withdrawals in a day.
- No charge in
NEFTS/Forex/RTGS inward and outward payments.
- All
technology driven start- ups can avail Start- up Banking and Provisions.
- A prior
intimidation of one working day is required for transactions above R. 10 lakhs.
- No charges
for issuances of PO/DD and Chequebooks.
- Quick Net
Banking and Phone Banking facility.
YES Bank
YES Bank
offers a Head- STARTUP program; a privilege program for tech based or tech-
abled startup companies. Its benefits include:
- This is a
customizable current account, where you can select banking services that will
best suit your needs and eliminate those that do not.
- You can
receive professional cash management, digital solutions.
- Expert
Trade- Forex advisory services.
- Special
Start- up Braches dedicated to help your cause.
- Helpful
Alliances, Mentorship and Guidance Programmes for startups.
- Special
privileges with YES Bank’s marquee service providers in the startup space.
To conclude,
it is a known fact that all big business begin with just a seed of an idea. You
can turn your idea into a blossoming reality with the help of the best banking
solutions.
Tags:
current account,
startups
