What is the benefit of current account?
There are several benefits of operating a current account for business owners: Any time withdrawal facility to meet the cash needs of the business.
A current account holder can deposit cash or cheques at different bank branches which makes it extremely convenient to collect payments from small customers..
What is regular current account?
With the regular current account, account holders can make free cash deposits up to Rs. … For drafts and pay orders below Rs. 50,000, the bank levies an additional charge of Rs. 40. For drafts and pay orders above Rs.
Which banks current account is best?
Best Banks for Current AccountBanksMaximum Cash Deposit AllowedHDFC BankUp to ₹2 lakhs per month (for regular current account)ICICI BankUp to ₹1.8 crores per monthAxis BankUp to ₹2 lakhs per month (for regular current account)Bank of BarodaUp to ₹1 lakhs per month4 more rows
Which bank has best current account?
Best Bank for Current Account in India 2020#1. ICICI Bank Current Account (For Best Technology)#2. HDFC Bank Current Account (For Best Products)#3. IndusInd Bank Current Account (Lower AMB yet Great Features)#4. Axis Bank Current Account.#5. Citi Bank Current Account (For Global Business)#6. State Bank of India Current Account (Widespread Reach)#7. … #8.More items…•
What is minimum balance in current account?
Current Account Monthly Average Balance and Withdrawal Limit 2020BankMinimum Average BalanceHDFC Bank Regular Current AccountRs.10,000 per quarterBank of Baroda Baroda Small Business Current AccountQuarterly Average Balance Rs. 2,500SBI Regular Current AccountRs. 10,000Axis Bank Normal Current AccountRs. 10,0002 more rows
How much money should you have in your current account?
A good rule of thumb is to keep at least one month of net pay in your checking at all times. Look for a checking account with no monthly fee and no minimum balance.