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Current Accounts

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Current Accounts in banks are usually maintained by all commercial, institutional and business organizations. Individuals maintain current accounts to avail overdraft facility from banks against some security or otherwise.

Salient features of Current Accounts

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Individuals, partnership firms, private and public limited companies, HUFs/ specified associations, societies, trusts etc.
Individuals : The requirements for opening of accounts by individuals are the same as listed under Savings Bank Accounts
₹ 500/- to ₹ 10,000/-. The minimum amount varies from bank to bank. The amount also varies in a bank on the location of the branch and type of branch. Not maintaining the minimum balance invites penalties and may also lead to closure of the account by bank.
No Maximum limit
No interest is paid on Current Accounts.
Available
Account can be transferred from one branch to another.
Not Available

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Updated : Feb 05, 2019