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Yes Bank

YES Bank – Current Account

The primary purpose of a current account is to be the account for the entrepreneurs of India. Whether it is a company, a small and medium enterprise, an NGO all businesses require a current account. In this account, the account holder can deposit money and make maximum transactions. No interest is accrued in this account. The account can be opened and operated by a single person, jointly by multiple individuals or in the name of a business. Current Accounts are nil interest rate accounts with a higher minimum account balance requirement as compared to Savings Account. Current Accounts are designed to offer transaction facilities for smooth running of a business.

Eligibility:

The following are eligible to operate a Current account

  • Resident Individual
  • Hindu Undivided Family
  • Sole Proprietorship Firms
  • Partnership Firms
  • Limited Liability Partnership Firm
  • Private & Public Limited Companies
  • Any other category eligible to open Current Accounts

YES Bank offers a 3 Tier Current Account Banking System:

1. Edge Business

  • Enjoy all the banking benefits, along with efficient value-added services that deliver more than you expect from a current account.
  • With a lower balance expectation, this product best suited for a new setup or a business with less volume of transactions
  • Eligible for revision to Prime Business & Exclusive Business during its Life Cycle
  • The current account minimum average quarterly balance that needs to be maintained is Rs. 25000
  • A chargeable Business Gold Debit Card is given to Edge Business account holders
  • Daily Card limit (ATM & Merchant) Rs. 1 lakh each.
  • Free RTGS/NEFT/Fund Transfers

2. Prime Business Features:

  • The current account minimum average quarterly balance that needs to be maintained is Rs. 1 lakh
  • The Business Gold Debit Card is free for the first year.
  • Local Cheque Deposit & Return is free(chargeable in an Edge Business Account)

No charges on non-maintenance of required average quarterly balance

3. Exclusive Business Features:

  • The minimum average quarterly balance that must be maintained is Rs. 5 lakh
  • A free YES FIRST World Business Card is given to an exclusive business current account holder

Documents required:

Public Limited Company

1.Entity Proof Documentation (All of the following)
  • Memorandum of Association (MOA)
  • Articles of Association (AOA)
  • Certificate of Incorporation
  • Certificate of Commencement of Business
  • Board Resolution
  • PAN Card
2.Entity Address Documentation (Any of the following)
  • Certificate of Registration
  • Business License issued by State/Central Government
  • Sales Tax
  • IT return Certificate
  • VAT Certificate
  • PAN Intimation letter
  • Import-Export certificate
  • Registration Certificate with Provident Fund commissioner
  • Form 18)

Individuals Documents (Individual can be a director, partner or sole proprietor

1.Identity Proof (Any of the following)
  • PAN Card
  • Driving License
  • Passport
  • ID cards issued by Central & State Government
  • Passbook of a scheduled commercial bank
  • Marriage certificate
  • Voter ID card
  • Aadhar Card
2. Signature Proof (Any of the following)
  • PAN Card
  • Driving License
  • Passport
  • ID cards issued by Central & State Government

Private Limited Company

  1. Entity Proof Documentation (All of the following)
  • MOA
  • AOA
  • Certificate of Incorporation
  • Board Resolution
  • Partnership Deed
  • PAN Card
2. Entity Address Documentation (Any of the following)
  • Certificate of Registration
  • Business License issued by State/Central Government
  • Sales Tax
  • IT return Certificate
  • VAT Certificate
  • PAN Intimation letter
  • Import-Export certificate
  • Registration Certificate with Provident Fund commissioner
  • Form 18
  • *Identity proof and Signature proof remain constant throughout the 4 types of Current accountholders – Public Limited Company, Private Limited Company, Partnerships and a Sole Proprietorship

Partnership Entity (Any of the following)

1. Entity Proof Documentation (All of the following)
  • Partnership Deed
  • Partnership Declaration
  • Certificate of Registration
  • Business License issued by State/Central Government.
  • Tax Certificate
  • VAT Certificate
  • PAN Card
  • Import-Export certificate/ Registration Certificate with PF commissioner
2. Entity Address Documentation (Any of the following)
  • Entity proof (which contains address)
  • Water bill
  • Electricity bill
  • Telephone bill
  • Property tax certificate
  • 1 month existing a/c statement
  • Property ownership deed
  • Leave-license agreement
3. Individual Address Proof
  • Driving License
  • Passport
  • ID cards issued by the Central & State Government.
  • Passbook scheduled commercial bank
  • Utility Bill/ Marriage certificate
  • Municipal corporation bill
  • Credit Card Bill
  • Registered Leave and License Agreement
  • Bank statement
  • Tax certificates
  • Aadhar Card

Sole Proprietorship:

1. Entity Proof Documentation
  • Pan Card;
ANY TWO of the following:
  • Certificate of Registration
  • License related to Central-State Government
  • Certificate related to Municipal authorities
  • Tax returns-certificate (Sales/ VAT/ Wealth)
  • SEBI Registration
  • IEC certificate
  • CA certificate
  • Registered lease/license;
  • Utility Bills/ TDS certificate
  1. Entity Address Documentation (Any of the following)
  • Water bill
  • Electricity bill
  • Telephone bill
  • Property tax certificate
  • 1 month existing account statement
  • Property ownership deed
  • Leave-license agreement
  1. Individual Address Proof
  • Driving License
  • Passport
  • ID cards issued by the Central & State Government.
  • Passbook scheduled commercial bank
  • Utility Bill/ Marriage certificate
  • Municipal corporation bill
  • Credit Card Bill
  • Registered Leave and License Agreement
  • Bank statement
  • Tax certificates
  • Aadhar Card

Yes Bank comes with the option of three types of current bank accounts towards scaling up the different business activities of the startup or small-scale business. Here are different types of current accounts offered by the Yes Bank:

  • Edge Business Account
  • Prime Business Account
  • Exclusive Business Account
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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
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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.

Contact us: onlineacctopen@gmail.com