Current Account A current account is a type of bank account that is primarily meant for businesses, companies, and other entities/individuals to carry out frequent and substantial transactions related to their day-to-day business operations. It is typically used for making and receiving payments, including payments through cheques, demand drafts, electronic fund transfers (EFTs), and other means. Current accounts are generally non-interest bearing, meaning they do not earn interest on the deposited funds.
Requirments Minimum Balance for Individual – Rs. 2000/- Other than Individual – Rs. 3000/- minimum balance. Nomination facility – Nomination is available to an account opened by a sole proprietor.
