How to Open a Current Account?
Current account is a deposit account for businessmen and traders who need to make more transactions than others. Such accounts offer facility of making higher number of transactions per day. Current account is a zero-interest bearing account which does not offer any interest on deposit. Current account offers 'Overdraft Facility' to the account holder which is a facility to withdraw more amount than what you have in your current account. This solves the iquidity issue of the account holders.
If you want to open a current account in Bank, you need to follow below mentioned steps:
(1) Visit the Bank BranchYou need to visit the bank branch in which you want to open your account.
(2) Fill up Account Opening Form (AOF) for Current AccountGet the Account Opening Form and fill up all the necessary details of the customer's information and other details in the different sections given in the form like name, address, contact number, email id, PAN, type of account to be opened, nominee's name, etc.
(3) Attach Required (Mandatory) Documents with the AOFAfter completing filling up the account opening form, you need to attach KYC documents on the basis of type of account you are willing to open like savings account, current account, etc. These documents will also depend upon your status like Individual, HUF, Proprietor, Partnership Firm, Company, Trust, etc.
(4) Verification of AOF & Other Documents by the BankerBanker will verify AOF and other attached documents. If he is satisfied with these requirements, he/ she will proceed further.
(5) Deposit Minimum Balance Amount in the AccountAfter that you will be allotted an account number and you are required to deposit the minimum required balance in your account.
(6) Obtain Cheque Book, Passbook & Other Documents from the BankAfter that your account will be successfully opened and the banker will hand over Cheque Book, Passbook & Other Documents to you and then you will be allowed to make the transaction from your account.
If you follow above current account opening process, you can open your current account with ease.
How to Open a Current Account Online?
Most of the large banks offer you a facility to open Current Account Online through their website. You need to first select the bank with which you want to open the current account and then check with its website whether it offers the facility to open the account online. If it is providing you the facility to open the account online, then you can apply for the current account opening online also. It will be a faster process and your account will be opened in no time. Just keep all the required documents ready which need to be uploaded while filling up the application form for account opening.