{"id":3920,"date":"2022-02-15T02:27:00","date_gmt":"2022-02-15T02:27:00","guid":{"rendered":"https:\/\/www.indusind.bank.in\/iblogs\/?p=3920"},"modified":"2025-09-01T09:26:06","modified_gmt":"2025-09-01T09:26:06","slug":"5-pointers-to-consider-when-opening-a-current-account","status":"publish","type":"post","link":"https:\/\/www.indusind.bank.in\/iblogs\/current-account\/5-pointers-to-consider-when-opening-a-current-account\/","title":{"rendered":"5 Pointers to Consider When Opening a Current Account"},"content":{"rendered":"\n

Whether you run a small firm or a big business, a current account<\/strong> is necessary for carrying out seamless business transactions. Often small business owners  feel that they can  manage without one  and use their personal savings account for work-related transactions. But sooner than later, they realise that they require a current account<\/strong> to streamline  their deposits, withdrawals, and  other business transactions.<\/p>\n\n\n\n

Are you also thinking of opening a current bank account? Well, then keep these 5 points  in mind to choose the best one for you.<\/p>\n\n\n\n

1. Minimum balance requirement<\/strong><\/h2>\n\n\n\n

Typically, a bank requires you to hold a minimum balance within your current account<\/strong>. Make sure you check that requirement before applying. This is especially useful if you’re just starting your business and might want to utilise all funds lying in your current  account. Select a bank that expects a minimum balance you can easily maintain.<\/p>\n\n\n\n

2. Online core services<\/strong><\/h2>\n\n\n\n

Choose your current\u00a0 account with\u00a0 a bank that extends a\u00a0 user-friendly internet and mobile banking portal. Such a portal should first let you open a current account online<\/strong><\/a> without visiting the branch and then instantly facilitate all core services like funds transfer and bill and salary payments.<\/p>\n\n\n\n

An add-on to this would be a unified dashboard that lets you  manage your money at the comfort of your home or office<\/p>\n\n\n\n

3. Perks and privileges<\/strong><\/h2>\n\n\n\n

Before opening a current account<\/strong>, also check the perks and privileges  that the bank offers you over and above the standard services. For example, banks like the IndusInd Bank extend benefits like doorstep banking, account grouping, auto sweep FD, dynamic cash deposit limits, and much more.<\/p>\n\n\n\n

Consider switching your legacy current  account if it only provides you with standardised services like limited cash deposits and monthly withdrawals and doesn\u2019t have a robust Digital Banking platforms.<\/p>\n\n\n\n

4. Overdraft facility<\/strong><\/h2>\n\n\n\n

Banks offer current account holders an Overdraft facility once they have been with  the bank for some time. Think of an overdraft facility as a type of low-interest loan you can take against the balance in your current account.<\/p>\n\n\n\n

A current account<\/strong> that extends an overdraft facility can help you tide over any sudden cash crunch your business might  face. So,  choose a bank that does not only offer this facility but also has a high overdraft limit with the best rates <\/p>\n\n\n\n

5. Transaction fee<\/strong><\/h2>\n\n\n\n

Generally, banks allow unlimited transactions through your current account<\/strong>. They only charge a fee when your transaction requirement crosses a set limit or goes international. Ensure you check the schedule of charges of transactions before applying for\u00a0 a account<\/a>. Needless to say, select a bank that has a low transaction fee and a high free transaction limit.<\/p>\n\n\n\n

Parting thoughts<\/strong><\/h4>\n\n\n\n

A suitable Current  account  for your business should  offer flexible transaction limits like unlimited withdrawals and higher cash deposits limits along with providing an ease of operation with user-friendly digital banking platforms.<\/p>\n\n\n\n

So, once you’ve chosen a  bank that can provide you with a feature-rich current account<\/strong>, you can proceed to submit your identity proof, address proof, and other KYC documents, to open it online or in person by visiting the branch<\/p>\n\n\n\n

Disclaimer:<\/strong> The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct\/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Whether you run a small firm or a big business, a current account is necessary for carrying out seamless business transactions. Often small business owners  feel that they can  manage without one  and use their personal savings account for work-related transactions. But sooner than later, they realise that they require a current account to streamline …<\/p>\n","protected":false},"author":13,"featured_media":3903,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":[],"categories":[1398],"tags":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\n\n\t\n","_links":{"self":[{"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/posts\/3920"}],"collection":[{"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/comments?post=3920"}],"version-history":[{"count":5,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/posts\/3920\/revisions"}],"predecessor-version":[{"id":18539,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/posts\/3920\/revisions\/18539"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/media\/3903"}],"wp:attachment":[{"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/media?parent=3920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/categories?post=3920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/tags?post=3920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}