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Current account for startups

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.

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Interest Rate
6%* p.a.
( 6.5% p.a. for Senior Citizens)(Open Kotak 811 and Book an FD to earn up to 7.00% interest)
Minimum Balance
0
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Features
  • You can now avail the benefits of the banking solutions with a single touch
  • Kotak 811 offers a virtual debit card (VDC) for the ease of online banking
  • Ideal for all your daily needs such as shopping, groceries, cab payments, and various others
  • Earn 7.00% interest on fixed deposits and Senior Citizens can earn upto 6.5% p.a. To know more click bit.ly/2KRtaSr
Interest Rate
6%
(Up to Rs. 1 Lakh)
Minimum Balance
Nil
Show Details
Features
  • Open an account only with the help of your Aadhar Card Can apply for this account at the micro ATM of IDFC Bank
  • Account offers Internet & mobile banking, free & unlimited ATM services, and various others.

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