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Current account

Here, in this section, get to know about current account offerings and special features by different leading banks in India.

Current Accounts are accounts which have no limitations as to the number of deposits or  withdrawals. The Bank usually charges a small service fee for maintaining the account and doesn’t pay any interest on the balance. However, certain facilities like overdraft facilities are available for this account.

Punjab National Bank
Bank of Maharashtra
CitiBank
Global Trust Bank
ICICI Bank
UTI Bank

Punjab National Bank

Current Account can be opened in the name of an individual or a firm, company, organisation, with suitable introduction.

No limit on number of transactions in the account

Minimum Balance to be maintained is as under:

Bank of Maharashtra

Current account offerings are purely for Business purposes

• Minimum Deposit  - Rs.5000/-
• A large number of transactions can be 
  conducted every day.
• Easy liquidity
• Nomination facility available

CitiBank

From the moment you open a Citibank Unnati Current Account, you begin to feel the difference it can make to your business. First of all, you stop spending time unecessarily with bank managers, and start spending more time with your clients. You stop running your business by the clock, because now you can access your Citibank Unnati Current Account any time and from anywhere. With Citibank Unnati Current Account you stop paying for things you should get free.

The Citibank Unnati Current Account has been structured to deliver maximum financial value while saving you valuable time and effort.Different value-added services are-

Investment Services
Check Protect Facility
Free Drafts
Cash/Check Pick-up
Cash Delivery
Intercity Cheques

Global Trust Bank

Current Account is designed to meet the ever changing demands of the business community - Individual or corporate. The current account can offer you the following features:

Swift Remittance : Same day Inter-office computerized remittances at a nominal cost.

Time guaranteed outstation collection : Your outstation cheques will be collected within seven working days from centers (presently 19 cities) where Global Trust bank has a branch.

High value clearance advantage : Same day credit for high value cheques. Our longer working hours make it convenient for you to withdraw the money on the same day.

Instant Banking : Computerized 'clear account statement' available weekly or monthly. It's your choice.

Xtra Banking Hours : You don't work bankers' hours. Global Trust Bank works your hours.



• ICICI Bank

Money Plus - Premium Current Account
Surely you wouldn't be interested in just another Current Account. Well, ours is not just another Current Account. It provides you value-added features that make it flexible to suit your business needs. Regardless of the size of your business.

As a premium current account holder, you can avail of a range of facilities and services:

To avail these special services, all you have to do is maintain an average monthly balance of Rs.2,00,000 in your current account.

Also, if you maintain an average monthly balance of Rs. 5,00,000 or more, you can avail of Quantum Optima - Corporate which ensures that idle funds in your account earn the high interest rate of a Fixed Deposit. Here’s what Quantum Corporate offers :

Your Premium Current Account will be linked to your Fixed Deposits through three unique facilities :

• Auto Sweep - It lets you set a minimum balance (subject to a minimum of Rs. 5,00,000) to maintain in your Current Account and automatically transfers any excess amount to your Fixed Deposit Account in units of Rs.25,000 and invests it for a period as specified by you.
  
  
• Reverse Sweep- This facility ensures that the amount you have withdrawn or issued a cheque for, is honoured by the bank, despite the amount being higher than the balance in your Current Account. The bank will break the fixed deposit in multiples of Rs.1000 on last-in-first-out (LIFO) basis. The remaining balance in your deposit will continue to earn a higher rate of interest.
  
  
• Auto Renewal- Under this facility, when your deposits fall due, the bank will automatically renew the principal and accrued interest for a further period.

Other Benefits include :

• Quick issuance of Demand Drafts and Pay orders
• Electronic transfer of funds to any of our branches
• Investment assistance to invest short term surplus funds of less than 30 days in money market instruments of your choice.
• Standing instructions.

Eligibility -Premium Current Account:

• Your annual sales should not exceed Rs. 30 crores.
• Minimum average monthly balance of Rs. 2,00,000 to be maitained.
• For availing Quantum Optima - Corporate, a minimum average monthly balance of Rs. 5,00,000 to be maintained
  

UTI Bank

Discover the versatility of UTI Bank's Business Current Accounts. UTI's twin current account products,Business Classic and Business Premium are tailor made products to cater to the needs of Corporates, Traders and other Business Enterprises.There are lots of concessionary benefits, packaged in to these accounts to give maximum value to your money. Just look at the special features of these accounts and you will know why it really pays to have a Business Account with UTI Bank.

Business classic account

Eligibility : Quarterly minimum average balance of Rs. 1,00,000/-

Features :

1. Free cheque book.

2. Free ATM card (only Proprietary Concerns maximum 2 cards).

3. Free Phone Banking facility.

4. Free Internet Banking Service.

5. Free DD / Payorder on our branches. 6. Free collection of outstation cheques drawn on
  centres, where we have branches, with assured credit on Day 5 (Day 0 being the date of
  deposit of cheque excluding sundays and bank holidays).

7. Free Demat account opening - maximum 2 accounts in the case of Proprietorship concerns;
   1 account per Partner ( in single or Joint holder capacity) for partnership concerns (maximum 2).

8. No outward clearing return charges.

9. No account maintainance charges

10. Power 24 facility.

11. Cheque protection facility upto Rs.10,000/- (contingent overdraft facility at the discretion of Branch Head to meet clearing cheque payment).

Penalty : Rs. 1000/- per quarter if the eligibility condition are not complied with.


Business premium account

Eligibility : Quarterly minimum average balance of Rs. 5,00,000/-.

Features :

1. Free cheque book.

2. Free ATM card (only Proprietary Concerns maximum 2 cards).

3. Free Phone Banking facility.

4. Free Internet Banking Service.

5. Free DD / Payorder on our branches.

6. Free collection of outstation cheques drawn on centres, where we have branches, with
  assured credit on day 5 (Day 0 being the date of deposit of cheque excluding sundays and
  bank holidays).

7. Free Demat account opening - maximum 2 accounts in the case of Proprietorship concerns;
   1 account per Partner ( in single or Joint holder capacity) for partnership concerns.

8. No outward clearing return charges.

9. No account maintainance charges

10. Power 24 facility.

11. Cheque protection facility upto Rs.25,000/- (contingent overdraft facility at the discretion
   of Branch Head to meet clearing cheque payment).

12. Free Encash 24 facility balance in excess of Rs. 5,00,000/- will be swept into Fixed Deposit
   account of predetermined maturity.

13. Free electronic-funds transfer facility between our branches.

14. Free cheques / DDs pick up facility once in a day (within a radius of 5 kms)

15. Free "At Par" cheque payment facility at all our branches.

16. 50% discount on locker rent.

Penalty : Rs. 1,500/- per quarter if the eligibility condition are not fulfilled.