Current Deposits product is ideal for firm, companies, institutions and individuals who need banking facility more frequently. This is one of the most basic and flexible deposit options, allowing transaction without limiting the numbers.
Who can open a Current Account?
- Any person competent to contract and satisfactorily introduced to the Bank may open an account in his/her own name. He/ She may not open more than one such account. Accounts may be also opened in the names of two or more persons
- Accounts can be opened for sole proprietorship firms, partnership firms, private limited and public limited companies, trusts, clubs, associates etc. satisfactorily introduced to the Bank and on fulfilling laid down procedures and tendering required credentials.
No interest is payable on credit balance in current account.
Signature of the Depositor
- Every Account holder will be required to give specimen of his/ her signature for record in the presence of an authorized officer of the Bank at the time of opening of the account.
- All withdrawal instructions, cheques and letters to the Bank must be signed strictly in accordance with the specimen signature recorded at the branch.
Statement of Account
Computer generated statement of account showing a record of all sums paid in and all cheques drawn is issued to each accountholder on monthly basis. On a statement of account being received by a customer the entries therein should be carefully examined and error or omission should immediately be brought to the notice of the Bank.
Documents required for opening of Chequing/ Current account;
Personal/ Business Chequing Account
- ID Card/ Passport
- Proof of Address
- Tin Certificate
- Business Registration
- Recent Financial Statement
- 2 Passport Sized Photographs
- 2 References
- Certificate of Incorporation
- Articles of Incorporation
- By-laws of the Company
- A certified true copy of the resolution of the board of directors of the company, requesting the bank to open an account in its name and specify the operating instructions and a list of authorized officials to operate the account.
- Tin Certificate for the Company
- Proof of Identification for each Director/ Signatory
- Proof of Address of each Director/ Signatory
- Tin Certificate for each Director/ Signatory
- 2 Passport Photograph for each Director/ Signatory
- Financial Statement of the Company
- 2 references
Other Terms and Conditions Apply