Do you know a current account is beneficial for business growth? A business account allows companies to track their finances and expenses precisely.
Strong financial management practices make understanding marketing, accounting, operation management, and finance easy to solve complex business problems. So, go ahead and open a current account to raise your business success rate profoundly.
You can connect with a bank through a mobile app to get the benefits of a current account. Here are four banks with the best current account in India, offering remarkable banking services to their customers. Go through the list and examine the details carefully before opening a current account:
1. ICICI Bank
ICICI offers its customers interactive technology solutions, including mobile banking, corporate Internet banking, and tax payment solutions. Users can download a mobile application, InstaBiz, and access the benefits of business banking.
Features of InstaBiz
● Easy to manage current account digitally
● Instant opening of current online with video KYC
● Instant overdraft and business loan facilities
● Ease in managing export-import transactions
Types of ICICI Current Accounts
● Smart Business Account 2.0 Ivy
● Smart Business Account 2.0 Platinum
● Smart Business Account 2.0 Gold
● Smart Business Account 2.0 Silver
● Classic 2.0 Current account
● RCA Standard current account
● Made2Order Current Account
● Special Current Accounts
● One Globe Trade Account (Basic, Gold & Platinum variants)
Minimum Average Balance With ICICI Current Accounts
● Premium current account: Quarterly Avg. Bal of Rs. 25,000/- to Rs. 10 Lacs
● Special current account: Quarterly Avg. Bal of Rs. 0 to Rs. 1.2 Crore
● One Globe Trade account: Monthly Avg. Balance of Rs.50,000 to Rs. 5 Lacs or Monthly throughput from USD 5,000 to USD 80,000
Best For:
● Technology banking solutions
● Flawless and smooth digital banking and applications
2. HDFC Bank
HDFC Bank offers great banking services to all businesses, especially start-ups and e-commerce companies. HDFC Bank has 14 types of current banks to meet the various distinctive business requirements.
By opening a current account in HDFC, users can effectively manage cash and simplify payment and collections. Also, access free banking services, including local clearing, fund transfers, dynamic cash deposit and withdrawal limits, and more.
Types of HDFC Current Account
● Max Advantage Current Account
● Ascent Current Account
● Activ Current Account
● Plus Current Account
● Premium Current Account
● Regular Current Account
● Smartups for Start-ups Current Account
● Saksham Current Account
● E-commerce Current Account
● Current Account for Professionals
● Agri Current Account
● Institutional Current Account
● RFC Domestic Current Account
● EEFC Current Account
Minimum Average Balance With HDFC Current Accounts
● Users must maintain an average quarterly balance between Rs. 10,000 and 20 Lakhs, depending on the account type.
● No need to maintain a minimum average balance in the case of an Institutional Current Account.
Best For:
● A huge number of current accounts
● Best banking products for loyal and valuable customers
3. Induslnd Bank
Induslnd current bank account allows you to access doorstep banking, smart cash management, grouping in bank accounts, and choosing your account numbers. Whether you are handling regular business, large enterprises, and import and export business, open the best current account in India with IndusInd Bank.
Types of IndusInd Current Account
● Indus Premier Current Account
● Indus Select Current Account
● Indus Select Plus Current Account
● Indus Pioneer Current Account
● Indus Tarakki Current Account
● Indus Green Current Account
● Indus Freedom Current Account
● Indus EEFC Current Account
● Indus Escrow Current Account
● Indus Max Current Account
● Indus Exim Trade Current Account
● Indus Dollar One Trade Current Account
Minimum Average Balance With IndusInd Current Accounts
● Maintain a minimum balance from 0 to Rs. 10 Lac on opening a current account in IndusInd bank.
● Depending on the type of bank account, you need to pay from Rs. 0 to Rs. 4,000 as account charges.
Best For
● Enjoy banking for 365 days
● Minimum monthly average balance with a choice to design an account and number
4. Axis Bank
Another best bank to open a current account for effective banking in business is Axis Bank. Customers can take advantage of 1000 reward points on their banking transactions.
Types of Axis Current Account
Based on value
● Axis Classic Current Account
● Axis Normal Current Account
● Axis Advantage Current Account
● Axis Select Current Account
● Axis Privilege Current Account
● Priority Channel OneCurrent Account
● Wealth Club 50 Current Account
Based on segment
● Current Account Global Economy Business
● Current Account EFC
● Current Account Arthiyas
● Current Account Trust
● Current Account Jeweller
Digital Current Account
● Digi Current Account
● Liberty Digital Current Account for Sole Proprietorship
Minimum Average Balance With Axis Current Accounts
● For value-based current account: From Rs. 10,000 to Rs. Lakh
● For segment-based current accounts: Average quarterly balance of Rs. 50 lakh
● For digital current account: Rs. 10,000
Best For:
● Reward points
● Digital current account for Sole Proprietorship
Wrapping Up
Be wise while choosing your bank to open the best current account in India. Compare a bank’s various features, advantages, and disadvantages to access the best banking services.
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