A current account is a type of deposit account that caters to professionals and businessmen. In current account, amount can be deposited and withdrawn at any time without giving any notice. It is also suitable for making payments to creditors by using cheques. Cheques received from customers can be deposited in this account for collection. It allows you to route all your financial transactions in a secure and convenient way. The funds are available to be withdrawn at any time. With Current Accounts, you can efficiently manage cash, simplify your payments and collections, and benefit from a wide range such as fund transfers, local clearing, cash deposits & withdrawals.
Features of Current Account:
- Initial Deposit Amount for Opening of the A/c:- Rs.1000/-.
- Monthly Average Balance:- Rs.1000/-.
- Free Cheque Book.
- You can receive payments and make payments from your savings accounts.
- Auto debits and auto credits can be set up from your savings accounts.
- Debit Card Charge:- Issue Charge Free (Annual maintenance charge –As per applicable charges.)
- Banks offer ATM cum debit cards to Current account holders.
- It does not promote saving habits with its account holders.
- There is no restriction on the number and amount of deposits.
- ATM Cash Withdrawal/ POS Limit:- Rs.25000/- per day.
- It is possible to pay bills from your savings account linked ATM card.
- Banks also send transaction alerts to their customers via SMS as a part of SMS banking services.
