16 Best Bank for Current Account in India

The following article compiles a list of the best bank for current account in India, based on feedback from different users of current accounts.


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    Table of Contents

    Best Bank For Current Account In India

    Best Bank for Current Account in India

    Current accounts are typically used by those who operate businesses. While the current account can be the most effective option for managing business budgets, the account comes with numerous hidden charges that are billed to the account holder.

    A variety of banks offer various types of current accounts that have an adjustable minimum amount (monthly and quarterly) and a maximum deposit option. When choosing the right bank for your current account, look at your needs in the bank account. Current accounts and savings accounts are 2 of the extensively used accounts

    Before heading towards the various types of banks with their distinct current account offering, let’s have a look at the short overview of the criteria on which the banks were selected are & what things to be kept in mind.

    • Overdraft facility
    • More transactions are free
    • A zero-interest account
    • The minimum balance of the account (MAB) begins at Rs 10,000/+ (in general)
    • Unlimited deposit and withdrawal facility
    • Direct payments can be made by cheques DD and Pay Orders.

    The following article compiles a list of best bank for current account in India, based on feedback from different users of current accounts.

    Now, let’s see more about the various kinds of current accounts, and the maximum cash deposits allowed by the top bank that is located in India. 

    The table below lists some of the best bank for current account in India.

    1. ICICI Bank Current Account (For Best Technology)

    You can find the most effective interactive banking technology from ICICI.

    If you’re looking for an online banking platform such as online account opening or mobile banking, it is one of the best bank for current account in India. ICICI has easy-to-operate user-friendly technology features. Innovative banking platforms that are technologically superior are one of the USPs that distinguish ICICI Bank. 

    For business, ICICI Bank possesses an IBizz mobile app for an account with a bank, CMS payments, and exchange online authorizations for LC, BG, remittances & bill payments. 

    ICICI Bank even permits cardless cash withdrawals at ATMs. This helps in the payment process for the beneficiary who doesn’t possess a bank account.

    There are three versions of the current account offered by ICICI.

    • Premium Current Accounts are for local businesses, with benefits including a free cash deposit of Rs. 2.5 lacs p.m. and more ( up to 75 Cr) and greater daily limits for transactions that are free.
    • Special Current Accounts are specifically designed for clients, startups, CAs, and customers enrolled on eNAM, GeM, and escrow for.
    • One Globe Trade Current Accounts for export and import enterprises, as it’s a mixture of roaming current accounts and global trade services.

    ICICI Bank Current Account Minimum Average Balance

    • Premium Current Accounts Monthly Average. Balance of Rs. 25,000 to Rs. 10 Lacs
    • Special Current Accounts – – Quarterly Average. Bal of Rs. 0 to Rs. 5 Lacs
    • One Globe Trade accounts – Monthly Average. Balance of Rs.50,000 to Rs. 5 Lacs or monthly through of $5,000 up to $80,000

    ICICI Bank Current Account Charges

    • Premium Current Accounts – beginning at 1,000 to Rs. 1,000 to Rs. 8,000
    • Special Current Accounts starting from Rs. zero (for NIL QAB accounts) up to the amount of Rs. 8,000
    • One Globe Trade accounts – Starting at Rs. 1,500 to Rs. 5,000

    ICICI Bank Current Account Options

    • Smart Business Account 2.0 Ivy
    • Smart Business Account 2.0 Platinum
    • Smart Business Account 2.0 Gold
    • Smart Business Account 2.0 Silver
    • Classic 2.0 Current account
    • RCA Standard current account
    • Made2Order Current Account
    • Special Current Accounts
    • One Globe Trade Account (Basic, Gold & Platinum variations)

    2. HDFC Bank Current Account (For Best Products)

    HDFC Bank has one of its most sought-after products. It includes its high-end Diners Club Black Credit Card Credits at ATMs HDFC chat as well as HDFC Smart Purchase.

    You’ll be surprised to know by the fact that HDFC offers 14 kinds of current accounts, specifically designed for all kinds of business, from big corporations to professional traders, traders and farmers. Even for e-commerce and startup businesses.

    The bank offers a calculator tool to help you choose the best current account based on the amount of turnover and business requirements. Due to the enormous number of options in current accounts, HDFC is the best bank for current account in India.

    HDFC Bank Current Account Average Quarterly Balance

    • Starting from the amount of Rs. 10,000 to Rs. 5 Lacs for different accounts
    • NIL in the event of Institutional Current Account

    HDFC Bank Current Account Charges

    • From Rs. 1500 to Rs. 8000 based on the type of account

    HDFC Bank Current Account Options

    • Utmost benefits of Current Account
    • Upgrade Current Account
    • Activ Current Account
    • Plus Current Account
    • Premium Current Account
    • Regular Current Account
    • Smart-ups for Startups Current Account
    • Saksham Current Account
    • E-commerce Current Account
    • Current Account for Professionals
    • Agri Current Account
    • Institutional Current Account
    • RFC Domestic Current Account
    • EEFC Current Account

    3. IndusInd Bank Current Account (Lower AMB yet Great Features)

    The majority of current accounts at IndusInd Bank have less than the minimum balance requirement except for prestige current accounts.

    You have the option of having all-year-round banking access by selecting a number for your account, connecting your business accounts to doorstep banking, and smart service for managing cash.

    IndusInd Bank offers current accounts for businesses that are regular big corporations, large corporations, exporters, and importers. They also provide current accounts for specific sectors like textile, IT hotels, SMEs, hotel logistic companies, and travel agencies.

    In addition, the bank gives the flexibility to personalize the current account and establish limits on transactions according to your business requirements.

    IndusInd Bank Current Account Average Monthly Balance

    • The span is between NIL from NIL to. 5 Lacs, based on the account
    • IndusInd Bank Current Account Charges
    • From Rs. 0 to Rs. 4,000, based on the type of account

    IndusInd Bank Current Account Options

    • Indus Prestige Current Account
    • Indus Gold Plus Current Account
    • Indus Gold Current Account
    • Indus Silver Plus Current Account
    • Indus Silver Current Account
    • Indus Blue Current Account
    • Indus Freedom Current Account
    • Indus Green Current Account
    • Indus Escrow Current Account
    • Indus Max Current Account
    • Indus Premier Current Account
    • Indus Dollar One Trade Current Account

    Niche Current Accounts

    • Indus Grain Merchant Flexi Current Account
    • Indus Textile Current Account 
    • Indus InfoTech Current Account
    • Indus Merchant Plus Current Account

    4. Axis Bank Current Account

    Axis is the one bank offering 1,000 reward points for transactions in banking, such as account opening and financing online banking activation as well as registration for e-statements & electronic forex.

    The current accounts are categorized by value and segmentation of current accounts.

    Axis Bank has lately established a “Full Power Digital Current Account” which opens online in four simple steps with video KYC. The account requires an initial deposit of 10,000 rupees and gives businesses permission to a variety of banking services.

    Axis Bank Current Account Minimum Monthly Average Balance

    • Current accounts that are based on a value of Rs. 10,000 to Rs. 10 Lac 
    • Based on the value Club 50 Current account needs an AQB of Rs. 50 Lacs
    • Full Power Digital Current Account – Rs. 10,000

    Axis Bank Current Account Charges

    • Beginning at the amount of Rs. 750 to a Maximum of Rs. 25,000.
    • A few current accounts have the amount of Rs. 100 of the monthly service fee

    Axis Bank Current Account Options

    Digital Current Account

    • Full Power Digital Current Account

    Value-Based Current Account   

    • Prime Normal Current Account
    • Prime Advantage Current Account
    • Prime Select Current Account 
    • Prime Business Classic Current Account
    • Priority Business Privilege Current Account
    • Priority Channel OneCurrent Account
    • Wealth Club 50 Current Account

    Segment-Based Current Account

    • Current Account Global
    • Current Account EFC
    • Current Account Arthiyas
    • Current Account for New Economy group
    • Current Account for market intermediaries
    • Current Account Priority

    5. Citi Bank Current Account

    The current account of CitiBank is designed for industries that conduct international business. This account lets you make use of Citi’s global network in more than 100 countries and deals in the major currencies. City bank is considered one of the best bank for current account in India for big business.

    The main benefits are savings on bank fees for correspondents and the absence of the requirement to verify LCs as well as cost-effective LIBOR-denominated rates, and immediate remittances outward or inward.

    Furthermore, you can access treasury products for the hedging of forex transactions, and A dedicated relationship manager to assist with Foreign Exchange, Trade Finance, and Cash Management Services.

    Citi Bank Current Account Average Monthly Relationship Value

    Citi Business Current Account has 3 categories that rely on the importance of connections.

    • A business account with a connection worth Rs. $15 Lacs and more
    • A Business Account with a Relationship Value of up to Rs. 15 Lacs
    • Business accounts that are less than the minimum relationship value
    • At Tier 1 site with the least connection worth of Rs. 5 Lacs
    • Tier 2 locations that have the price of. 3 Lacs

    Citi Bank Current Account Charges

    • Citibank does not penalize those who are not in the minimum relationship values current account. The fees are at the rate of Rs. 1,500 for tier 1 locations and 1,000 at tier 2. 1,000 at tier 2 locations.

    Best Citi Bank Current Account

    • The current account of the Citi business

    6. State Bank of India Current Account (Widespread Reach)

    The main advantage of having a current bank account at SBI is its wide reach and access to the pan India network of 22,000branches, offering a range of services.

    A majority of SBI ATMs and branches have cash deposit machines or Recycler feature that allows you to deposit or transfer money and withdraw it in a matter of minutes.

    State Bank of India Current Account Monthly Average Balance

    • The range varies from the amount of Rs. 5,000 to Rs. 10 Lacs based on the account

    State Bank of India Current Account Charges

    • From 500 to Rs. 8,000 for several accounts.

    State Bank of India Bank Current Account Options

    • SBI Regular Current Account
    • SBI Gold Current Account
    • SBI Diamond Current Account 
    • SBI Platinum Current Account 
    • SBI Power POS Current Account
    • SBI Surbhi Current Account
    • SBI Power Jyoti Current Account
    • SBI Power Jyoti PUL Current Account

    7. Bank of Baroda Current Account (Best PSU Bank)

    Bank of Baroda proposes excellent client service and support. The bank offers the most affordable current account fees with a maximum limit of Rs.1,000 for the Premium Current Account.

    Other special services contain reverse sweep and auto features in current accounts that allow account proprietors to receive interest.

    Bank of Baroda offers rebates and discounts on locker rentals along with Demat and deferral of charges for processing loans on cars.

    Bank of Baroda Current Account Minimum Average Quarterly Balance

    • Variable between the amount of Rs. 2,500 to Rs. 2.5 Lacs, based on the account

    Bank of Baroda Current Account Charges

    • From 300 to Rs. 1,000 for several accounts

    Bank of Baroda Current Account Options

    • Baroda Premium Current Account
    • Baroda Premium Current Account – Privilege
    • Baroda Small Business Current Account
    • Baroda Advantage Current Account
    • Baroda current account for LIC along with other insurers
    • The current account of other banks
    • Baroda Startup Current Account
    • Baroda Scale Up Current Account

    8. Yes Bank Current Account

    Yes Bank has a wide range of current accounts that can be used for different requirements of a business.

    The most recent is the Yes three-tiered ( Edge/Prime and Exclusive) Business Current Account that allows you to switch between different tiers according to requirements.

    Other than that, Yes Bank gives an option to choose a value-added service package. Services for global trade and remittances

    • Merchant services
    • Doorstep banking
    • Smart Tally – Automated payments and reconciliation for users of tally
    • Payment gateway facility as well as
    • Services for managing cash

    Yes Bank Current Account Average Quarterly Balance

    • Yes Premia Current Account – Rs. 2.25 Lacs CASA, or 10 lacs Net Relationship Value
    • In other accounts – ranges between to. 10,000 to Rs. 5 Lacs based on the account
    • Yes TradeBiz Current Account – QAB of Rs. 1 Lac or a Trade via put up to USD 100,000
    • “Yes” Pragati Current Account Balance – half-yearly Rs. 5,000

    Yes Bank Current Account Charges

    • 500 to Rs. 5,000
    • To Yes Premia Current account there are no charges for financing. Failure to maintain balance will result in the loss of benefits.

    Yes Bank Current Account Options

    • Three-tiered ( Edge/Primeor exclusive) Corporate Current Account
    • Yes Premia Current Account
    • Yes First Business Programme
    • Yes Pragati Current Account
    • Yes Business Value Current Account
    • Yes Head Startup Current Account
    • Yes Xtra Gain (Edge/ Prime) Current Account
    • Yes TradeBiz Current Account 

    9. Kotak Mahindra Bank Current Account

    Kotak Mahindra Bank has current accounts that meet all your business needs starting from small businesses, to huge corporations.

    Every current account arrives complete with Kotak ActivMoney, an auto sweep and reverses feature that will help you receive interest on your account. Also, you can access an overdraft service, payment gateway, and cash management, as well as live forex services.

    Kotak Mahindra Bank is an advantage of Kotak Circle which allows businesses to group several existing savings accounts. This can help improve the use of funds as well as account maintenance of balances.

    Kotak Mahindra Bank Current Account Average Quarterly Balance

    • The price ranges between the amount of Rs. 10,000 to Rs. 15 Lacs, based on the account
    • Kotak Global Trade Current Account Trade throughput is between USD 50K and USD 250K

    Kotak Mahindra Bank Current Account Charges

    • Beginning from starting at Rs. 750 to Rs. 8000 for numerous accounts

    Kotak Mahindra Bank Current Account Options

    • Kotak Edge Current Account
    • Kotak Pro Current Account
    • Kotak Ace Current Account
    • Kotak Neo Current Account
    • Kotak Elite Current Account
    • Kotak Startup Premium Current Account
    • Kotak Astra 05 Current Account
    • Kotak Global Trade Current Account
    • Kotak Astra 15 Current Account
    • Kotak Startup Regular Current Account

    10. RBL Bank Current Account

    Nearly all current RBL Bank accounts are in good standing. RBL Bank has loan offerings to finance short-term and working capital needs. The options include a business loan as well as a small business loan against properties and an overdraft for the home.

    The disadvantage is that RBL Bank has fewer branches across India. Therefore, RBL Bank provides doorstep banking for a fee in a few cities.

    RBL Bank Current Account Average Quarterly Balance

    • The price ranges between two. 10,000 to Rs. 5 Lacs based on the account
    • RBL Exceed Global Plus – Throughput per Qtr of $ 50K and AMB up to Rs. 50,000
    • RBL Exceed Global Elite – Qtr throughput $ 200K, or AMB Rs. 200,000

    RBL Bank Current Account Charges

    • Beginning from the price of Rs. 250 to Rs. 3000 for different accounts

    RBL Bank Current Account Options

    • RBL Traders Current Account
    • RBL Value Silver 40 Current Account
    • RBL Value+ Gold 100 Current Account
    • RBL Value+ Gold 500 Current Account
    • RBL Exceed Business Banking – Exceed Global Extra, Exceed Express, Exceed Global Elite
    • RBL Business Current Account
    • RBL Business Plus Current Account
    • RBL India Startup Club Current Account
    • RBL Self-Employed Professional Current Account

    11. IDFC Bank Business Current Account

    A basic current account that has fewer balance requirements on average for expanding the needs and aspirations of small-sized enterprises.

    More small-sized businesses and startups preferred IDFC bank for their current account.  However, it is even one of the best bank for current account in India for small-sized businesses.

    Average Monthly Balance

    The minimum Average Balance for IDFC Bank Business Current Account is Rs. 10,000

    Current Account Charges

    • 100 when the balance equals or exceeds Rs. 7,500 to 10,000
    • 250 if the balance falls between Rs. 5,000 to 7,500
    • 350 if balances are less than Rs. 5,000

    12. ICICI Bank Smart Business 2.0 Silver Current Account

    ICICI Smart Business 2.0 Silver account helps small-scale businesses adapt their cash flow to business cycles. Small businesses can benefit from flexible cash deposit options through the linking of QAB to the limit on transactions.

    Businesses can get cash deposits for free as high as 10 times MAB and Rs. 1.2 Crores, whichever is less. They will be able to enjoy free cheque collection and payments, RTGS & NEFT, Business Gold debit card, and free cash deposit in any location in India.

    Minimum Quarterly Average Balance

    • Minimum Quarterly Average Balance for ICICI Bank Smart Business 2.0 Silver Current Account is 50,000

    Current Account Charges

    • 2000 per Qtr for an average balance of 50%, but less than 100%
    • 3000 per quarter for an average balance of 50 %

    13. Baroda Small Business Current Account

    Baroda small-scale business is perfect for businesses and stores operated by proprietors, owners, and partnership companies.

    The downside lies in the fact that current accounts are accessible only in metro and urban cities. The annual turnover is limited to 20 Lacs. 20 Lacs.

    Minimum Quarterly Average Balance

    • The minimum Quarterly Average Balance for Baroda small-scale business current account is Rs. 2,500

    Current Account Charges

    • 300 per quarter

    14. Kotak Neo Current Account

    Kotak Neo is a small current account for businesses that was designed to help small-sized companies save and efficiently manage money through Kotak ActivMoney and Kotak Circle.

    Neo account has a minimum balance requirement, which is Rs. 10,000. However, the account is only available at a select number of locations.

    Minimum Average Quarterly Balance

    • The minimum Quarterly Average Balance for Kotak Neo is a small current account is Rs. 10,000

    Current Account Charges

    • If AQB is less than 50%, then it will be Rs. 1,200.
    • For AQB > 50%, but less than 100%, then Rs. 750.

    15. Union Bank of India

    Union Bank of India is 1 of the prime banking institutions in public service. The bank is a listed entity, as well as the Government of India, and has a stake of 89.07% of the capital of the bank.

    Additionally, the Union Bank of India was established in 1919 and offers numerous services to customers. The various account offerings based on the customer’s requirements are listed below.

    Minimum Average Quarterly Balance

    The last Quarterly Average Balance for Union Bank of India is Rs.1000. However, it is recommended that UBI Current account holders need to keep at least Rs.1000 which varies between accounts.

    UBI Current Account

    Opening a current UBI account UBI is easy after the verification of KYC documents.

    16. Canara Bank

    Canara Bank is one of 14 banks that were nationalized in 1969. It is well-known for its dedication to customers, and it is now a “Financial Conglomerate” with nearly ten subsidiaries as well as joint ventures throughout India and overseas.

    It is also the first bank in the world to establish its own intercity ATM and to issue loans to agriculturalists. Furthermore, Canara bank offers several accounts services that are based on customers’ requirements. These are discussed below.

    Minimum Average Quarterly Balance

    The minimum Quarterly Average Balance for Canara Bank is Rs.5000. As Canara bank provides current account services to satisfy any requirement of every kind of business. Its Canara Current account holders must keep an amount of Rs.5,000.

     Additionally, it provides the option of an overdraft for businesses to help them meet their requirements for working capital.

    Documentation required to open an Account with Best Bank for Current Account in India

    It is essential to read all the conditions and terms before you submit the application form along with the appropriate documents. 

    The banks typically require these documents:

    • IDs of all partners as well as addresses are proof.
    • Partnership deed (in the prosecution of a commodity that is a partner)
    • The address of the company or business
    • Proprietorship (GST Certificate)
    • PAN (Personal Identification Number)
    • A declaration in Form 60 or Form 61 in accordance with the Income Tax Act
    • Copy of Business Registration
    • Memorandum of Association.
    • Certificate of Incorporation
    • Article of Association
    • A check for the opening of the account at the bank.

    Difference Between Current Account and Saving Account

    The distinction is in the main purpose, that is, savings accounts are designed for savings and earnings for personal use with the primary goal of establishing a habit of saving. Current accounts help facilitate smooth business transactions and financial accounting.

    Other advantages associated with the current account when in comparison to savings accounts include:

    • Overdraft facility in which more than the balance may be taken out
    • A greater number of transactions for free
    • Unlimited withdrawal and deposit facility, which is useful in managing a large number of transactions
    • Generally speaking, the minimum balance amount starts at Rs. 10,000
    • Discounts on processing fees and Loan offers
    • Direct payments can be made through cheques, DD, or pay orders to creditors and vendors



    With so many choices, picking the right bank for your commercial account is a challenge. But, we hope our list of best bank for current account in India will help you in making the best decision.

    If you’re still having questions regarding the best bank for current account in India, we are ODINT Consultancy. As our professional experts will assist you in getting your current account open in the best bands in India.


    The process to open an account for current transactions is simple, whether you are using an online or offline mode. Visit the official site of the company you’ve selected and then complete the application procedure.

    While each bank may have different criteria but there is an underlying similarity among the criteria. Therefore, the general criteria for eligibility that are demanded by each bank are as follows:

    • Resident Individual
    • Hindu Undivided Family
    • Sole Proprietorship
    • Partnership
    • Limited company
    • Trust
    • Association/Club/ Society
    • Foreign Institutional Investor
    • Foreign nationals living in India
    • Limited Liability Partnership

    To conduct any financial transaction on behalf of your company, you need to establish an account with a Current. But, GST does not have to be necessary to open a current Account.

    Yes, zero-balance current accounts are open to anyone.

    As we have said earlier, the current Account is non-interest-paying, there is no tax on the Current Account.

    According to RBI rules, PAN and Aadhaar are the required documents to open a new account If a person is not a holder of PAN, then applicants must provide proof of having requested these ID documents in the last six months.

    However, it is impossible to switch current accounts between banks to another without a manual process. To establish a current account with the new bank, you have to notify the bank you have with which you are currently.

    To shut down your current account you’ll need to file your plea for account closure at the branch for the account slot. If you own an account with a debit card or unused cheques, make sure to submit them as well.