Current Accounts

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Eligibility for Opening a Current Account

A Current Account can be opened by:

  • Proprietary firms, HUFs, individuals, or partnerships
  • Public or private limited companies
  • Co-operative societies, clubs, trusts, institutions, associations, etc.

Key Features

  • Minimum Deposit Requirement: ₹3,000/-
  • Cheque Book Options: Available in 25, 50, or 100 pages
  • Nomination Facility: Provided for individual and proprietary concern accounts
  • Account Statements: Monthly, quarterly, half-yearly, yearly, and periodic statements are available for reconciliation or other purposes
  • Deposit Insurance: Deposits are insured up to ₹1 lakh as the bank is a member of the Deposit Insurance and Credit Guarantee Corporation (DICGC).
  • No Interest: No interest is paid on Current Accounts.

Rules & Regulations

  • Depositors must comply with KYC norms as per RBI guidelines and submit valid proof before opening the account.
  • The bank reserves the right to close accounts if the account holder fails to maintain a sufficient balance to clear inward cheques or ECS.
  • Customers are responsible for securely preserving their cheque books. The bank will not be liable for misuse.
  • Stop payment for cheques is available, but sufficient balance must be maintained to cover the cheque amount. Stop payment charges will apply.
  • The bank retains the rights to appropriation, set-off, lien, and to amend rules and regulations.

Requirements for Opening a Current Account

    • Account Opening Form: Duly filled and signed by the individual/proprietor/partners/directors/trustees/office-bearers, as applicable.
    • Photographs: Two recent passport-sized photographs of proprietors, partners, directors, or authorized persons.
    • Photo ID Proof: Valid identification of proprietors, partners, directors, or authorized persons.
    • Address Proof: Valid address proof for proprietors, partners, directors, or authorized persons.
    • PAN Card: A copy of the PAN card.
    • Credit Facility Declaration: Declaration regarding any credit facility availed from other banks.
    • Additional Documents:
      • For Partnerships: Copy of partnership deed or partnership letter.
      • For HUFs: Joint Hindu Family letter.
      • For Proprietary Firms: Registration/licensing documents from two government departments (e.g., VAT license, drug license, food license, shop & commercial establishment certificate, municipal registration, etc.).
      • For Clubs, Trusts, Societies, or Associations: Certified copies of bye-laws, registration certificate, resolutions for account opening, election of office-bearers, and authorized signatories.
      • For Public or Private Limited Companies:
        • Certificate of incorporation (mandatory).
        • Certificate of commencement of business (for public limited companies).
        • Memorandum and Articles of Association.
        • Board resolution authorizing account opening and specifying authorized signatories.

For further assistance or clarification, please contact our customer service team.