List of KYC Documents Required for Opening Current Account
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Documents Required for Opening Current Account

 

Sole Proprietorship

  • Any two of the following documents as a proof of business/ activity in the name of the proprietary firm:
    • Certificate/licence issued by the municipal authorities under Shop and Establishment Act
    • CST/VAT/ GST certificate
    • Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities
    • IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT/ Licence/certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute
    • Complete Income Tax Return (not just the acknowledgement) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax authorities
    • TAN Allotment Letter issued by NSDL in the name of the firm
    • Certificate/ License of Registration under any specific Statute/Act of the government
    • Utility bills such as electricity, water, and landline telephone bills
  • Identity and Address of the Sole Proprietor:
    • Passport
    • Driving License
    • Voter ID card
    • Aadhaar card
    • PAN card
    • Letter issued by the National Population Register
  •  A self-declaration on the Bank’s prescribed format

Partnership Firms

  • PAN in name of Firm
  • Partnership Deeds
  • Registration Certificate or one government issued certificate confirming the name, address & activity of the firm
    • Certificate/licence issued by the municipal authorities under Shop and Establishment Act
    • CST/VAT/ GST certificate
    • Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities
    • IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT/ Licence/certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute
    • Complete Income Tax Return (not just the acknowledgement) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax authorities
    • TAN Allotment Letter issued by NSDL in the name of the firm
    • Certificate/ License of Registration under any specific Statute/Act of the government
    • Utility bills such as electricity, water, and landline telephone bills
  • Partnership Declaration in bank format (to be signed by all the partners) 
  • Proof of Identity & Address of Partners:
    • Passport
    • Driving License
    • Voter ID card
    • Aadhaar card
    • PAN card
    • Letter issued by the National Population Register

Limited Liability Partnership

  • PAN in name of firm
  • LLP agreement
  • Certificate of Incorporation issued by the Registrar of Cos
  • Resolution for Account Opening
  • Beneficial owner information & KYC documents
  • Identity & Address Proofs of Partners/Authorised Signatories:
    • Passport
    • Driving License
    • Voter ID card
    • Aadhaar card
    • PAN card
    • Letter issued by the National Population Register

Hindu Undivided Family/ Joint Hindu Family (HUF)

  • PAN Card in name of HUF
  • HUF declaration (duly signed by all the co-partners and naming the Karta, who would be authorised to operate the account.)
  • Proof of ID, Address & Signature Proof of Karta
    • Passport
    • Driving License
    • Voter ID card
    • Aadhaar card
    • PAN card
    • Letter issued by the National Population Register

Public or Private Limited Companies

  •  PAN Card in name of company 
  • Certificate of Incorporation 
  • Certificate of Commencement of business (only for limited companies incorporated under Companies Act 1956)
  • Updated Memorandum & Articles of Association
  • Board Resolution for Current on letterhead
  • List of Shareholding pattern on letterhead
  • Proof of Principal place of Business / Registered Office / Mailing Address
  • Present list of names of Directors & Identity & Address Proofs of Authorised Signatory
    • Passport
    • Driving License
    • Voter ID card
    • Aadhaar card
    • PAN card
    • Letter issued by the National Population Registerg
  • Beneficial owner information & KYC documents

 

 
            Disclaimer Kindly note that this is an indicative list 



 

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Frequently Asked Questions

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What is a Current Account?

A Current Account is a special type of an account that facilitates a higher number of transactions for businesses to run their daily operations seamlessly.

How to open a Current Account?

Opening a Current Account is easy. You can open your Current Account Online by clicking on the Open Online tab or submit the KYC documents along with the duly filled account opening form at the nearest branch.

Who can open a Current Account?

A Current Account can be opened by the below businesses/constitutions:

* Sole Proprietorship Firm

* Partnership Firm

* Limited Liability Partnership Firm

* Hindu Undivided Family/Joint Hindu Family (HUF)

* Public or Private Limited Companies

Can I open a zero-balance Current Account?

A Current Account helps in making business payments and collections seamless.

However, there is a minimum balance requirement that needs to be maintained based on the variant you choose.

What are the documents required for opening a Current Account?

KYC documents that need to be submitted differ from business to business. Click here to know the documents required for Current Account.

Do Current Accounts earn interest?

No, Current Accounts don’t earn you interest. However, you can enjoy attractive returns and earn interest income on the idle funds in your Current Account with the ActivMoney facility.

What is the minimum balance for a Current Account?

The minimum balance requirement that needs to be maintained depends upon the variant you choose.

What are the different types of Current Accounts?

Discover a wide range of Current Account variants, tailored to meet the unique needs of your business, regardless of the industry you operate in.

Whether you're launching a startup, expanding your enterprise or seeking to diversify, our Current Account solutions offer the perfect fit for your aspirations.

Which Current Account is best for small businesses?

Small businesses have their unique set of requirements. Small business Current Account and its tailor-made solutions are specially crafted for small/growing businesses.

Can an Individual open a Current Account?

Yes, an individual can also open a Current Account.