Neo Current Account

1860 266 2666

Local call rates apply

Presenting an account with the lowest balance requirement and features that can make a tremendous difference to a newly set up or a growing small business/enterprise.

  1. Average Quarterly Balance (AQB) of Rs. 10,000/-
  2. Free cheque payments and collection anywhere in India
  3. Free cheque collection through Speed Clearing
  4. Multi-city at par cheque book (First cheque book is free)
  5. Free cash deposit1 and withdrawal at home branch location
  6. Free NEFT and RTGS through Net Banking
  7. Business Class Gold Debit Card with enhanced daily purchase limit of Rs. 175000 and daily ATM cash withdrawal limit of Rs. 50,000
  8. Free 24x7 Net Banking, Mobile Banking, Phone Banking and SMS Banking
  9. Balance Alerts / Transaction and Value added alerts through SMS at nominal charge (Alerts through email are free)
  10. Kotak ActivMoney - Convert current account balance above certain amount into Term deposits so you earn attractive returns on your idle balances
  11. Kotak Circle - Group multiple current/saving accounts together. Get flexibility to maintain minimum Group AQB balance in any one or more account
  12. Kotak Credit Access - Unsecured overdraft facility upto Rs.15 lac for business emergencies2
  13. Faster out-station cheque collection
  14. Better Forex rates and efficient Trade Services
  15. Cash Management services
  16. Forex Live3, an internet-based foreign exchange trading platform that enables buying and selling foreign currency for import/export transactions and other remittances
  17. Payment Gateway solution for quick receipt of payments from your customers4
  18. Point of Sales Solutions (POS)4 - Stand-alone POS terminals / Wireless POS Terminals - GPRS


1 Free up to Rs. 2 lac per month.

2 Conditions apply. Available in select locations only. Credit at the sole discretion of Kotak Mahindra Bank Ltd. and is subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing the loan assets.

3 At Bank's discretion.

4 Offered through third party tie-ups.

All the features and benefits are subject to terms, conditions and exclusions. Please refer to the General Schedule of Features and Charges.


This account can be opened as a single or joint account and requires an initial deposit of Rs. 10, 000/-. The minimum average quarterly balance requirement for a Neo Current Account is Rs. 10,000/-.

The Neo Current Account is available to the following:

  1. Individual (Resident Indian)
  2. Sole Proprietorship
  3. Hindu Undivided Family (HUFs)
  4. Partnerships/Limited Liability Partnership
  5. Private Limited Company
  6. Co-operative Society/Subsidiaries and Associations/Trust/Club
  7. Religious Organisation/ Educational Institute/ Government Body
  8. Association of Persons
  9. Public Sector Undertakings
  10. Domestic Banks/ Regional Rural Bank/ Domestic Co-operative Banks
  11. Foreign Institutional Investors/Foreign nationals residing in India/ Foreign Companies
  12. Foreign Banks
  13. Insurance/ Mutual Fund
  14. Share and Stock Brokers
  15. Related Parties
  16. Non-Government Organisation (NGO/ Charitable Trust)

Instruction for filling Account Opening Form

  • Please request customer to fill the form preferably in BLACK ink only
  • The form should be filled in CAPITAL LETTERS only
  • Hint boxes give tips and highlight important points across the form
  • Appropriate boxes should be ticked.
  • Customer should write his / her NAME as it appears in all the supporting / KYC documents
  • Addresses should be along with City, State & PIN Code
  • Please obtain countersign of the customer in full for any overwriting / alteration

ID Documentation for Non individual Entities:

Public or Private Limited Companies:

  • Board Resolution / Authority Letter
  • Memorandum & Articles of Association
  • Certificate of Incorporation
  • Certificate of Commencement of Business (Public Limited Company)
  • List of Directors (on the company Letter Head duly signed by Director / Company Secretary)
  • Form 32 in case list of directors are not original subscribers to Memorandum & Articles of Association (in case of Private Limited Cos) Duly acknowledged by ROC
  • Governing Act / Rules and Regulations(PSUs) (certified true copy)
  • Company PAN
  • Beneficial Owner Details

Partnership Firms:

  • All Partnership Deeds (certified true copy)
  • Registration Certificate (if firm is registered)
  • Partnership Declaration on firm’s letter head
  • PAN in Partnership Firm’s Name
  • Any Gove Issued Document

Limited Liability Partnership signatories

  • LLP Agreement - Written Agreement between the partners or between the LLP and its partners
  • Certificate of Incorporation issued by the Registrar of Cos
  • PAN in the name of LLP
  • LLP Resolution
  • List of Partners along with paid up capital/profit percentage and D-PIN (to be signed by all partners)

Proprietorship Concerns

  • Sole Proprietorship Declaration
  • Shops & Establishment Licence
  • Sales Tax (ST)/Central Sales Tax (CST)/Value Added Tax (VAT)/TIN Certificate issued by Sales Tax Department
  • Registration License / Certificate issued by Service Tax department. Downloaded license/certificate issued by Service Tax department will not be acceptable.
  • Registration License / Certificate issued by Profession Tax department
  • Acknowledged copy / fee paid challan for application Service Tax Challan
  • Acknowledged IT Return in the name of Sole Proprietor (ITR 4 + ITR V)
  • License issued by Food and Drug Control Authorities
  • IEC (Import Export Code Certificate) in the name of the firm.
  • Certificate of registration under any specific Statute/Act of the government
  • IRDA (Insurance Regulatory and Development Authority) license in the name of the entity with address mentioned.
  • Registration Certificate of recognized Provident Fund with PF Commissioner
  • Factory Registration certificate issued by ant state/central govt. authority
  • Valid APMC License under the APMC act by the local APMC Board Authorities.
  • Certificate issued by any Govt. Body (not mentioned in the list above) for carrying out business in the firm’s name
  • IATA certificate in the name of the firm for customer’s in Travel business.
  • Utility Bill in the name of the Proprietorship
  • For customers in Rural Area  -  Certificate of Establishment issued by Gram Panchayat  signed by Block Development Officer / Talati / Patwari / Tehsildar / Govt. Medical Officers with official seal/Agriculture Officers with official seal/Head Master with official seal & sign (any school) / Village Administrative Officer  / Village Development Officer

Trusts / Association / Society/ Club

  • Trust Deed
  • Registration Certificate, if any (certified true copy)
  • Copy of Governing body resolution
  • Bye Laws (certified true copy) if model bye laws of RCS have been adopted, certification to that effect
  • PAN in the name of the Entity
  • List of Trustees / Office Bearers
  • FCRA Declaration as applicable
  • 12 A / 80 G certificate in case of opening Savings Account

Address Proof  Documentation for Non individual Entities:

  • Utility Bill in the name of the Entity (not older than 3 months)
  • Registration certificates issued by Govt Department showing the address
  • Registered Lease/Leave & License/Rent Agreement copy in the name of the entity
  • Bank Statement (last 6 months) - IP to be received from this account only

Basic Common Documentation for Proprietor / Partner / Authorised Signatory

  • Proof of Identity: PAN Card, Voter ID Card, Passport, Driving License, Aadhaar
  • Proof of Address: Utility Bill, Registered Lease/Leave & License/Rent Agreement, Passport, Aadhaar

Beneficial Owner (BO) Details to be obtained for Pvt Ltd / Limited Company and Partnership Firm / LLP

  • BO declaration on letter Head signed by Directors / Partners / Company Secretary giving the break up of share holding (totalling upto 100%)
  • BO Form
  • ID Documents for the BO (as per the entity type)

Note: This is not an exhaustive list. In case of non-availability of the above documents, please contact your bank official for a complete list of acceptable documents.

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