Eligibility for opening Current Account
As per RBI guidelines, banks are not entitled to pay any kind of interest on the amount maintained in current accounts. It is only in the case of death of the account holder, his nominee are paid interest
at the rates similar to saving bank deposit from the death till the date of settlement. Anyone can open current account who is attained majority, two or more individuals as a joint account, Sole proprietorship concerns, Public and private limited companies, Clubs, societies, trusties and other govt or semi govt bodies or authorities etc. You just need two passport size photographs, proof of residence
i.e. voters card, ration card, Passport or driving license, Pan number/ Declaration in form no. 60 or 61. Other documents are also required that varies from bank to bank and your nature of business.
Benefits of Current Account
1) Salaries can be easily deposited to Current account.
2) You can do number of transactions on daily basis.
3) You can avail overdraft facility that will prevent you from bouncing checks.
As per RBI guidelines, banks are not entitled to pay any kind of interest on the amount maintained in current accounts. It is only in the case of death of the account holder, his nominee are paid interest
at the rates similar to saving bank deposit from the death till the date of settlement. Anyone can open current account who is attained majority, two or more individuals as a joint account, Sole proprietorship concerns, Public and private limited companies, Clubs, societies, trusties and other govt or semi govt bodies or authorities etc. You just need two passport size photographs, proof of residence
i.e. voters card, ration card, Passport or driving license, Pan number/ Declaration in form no. 60 or 61. Other documents are also required that varies from bank to bank and your nature of business.
Benefits of Current Account
1) Salaries can be easily deposited to Current account.
2) You can do number of transactions on daily basis.
3) You can avail overdraft facility that will prevent you from bouncing checks.
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