Best Banks to Open Current Account in India

Bank accounts are something that every individual needs. A child right from his birth might have a bank account being operated by his/her parents or guardians in order to save money for his/her future. There are several different types of bank accounts that can be opened in several different banks.

In this article we shall learn about the best banks for opening a current account.

Now, you must be wondering what is a current account? How is it different from a savings account? How is it beneficial? What are its functions? Well, a current account is a bank account that allows you to save and withdraw money as many times as you want. It is different from the savings account because for a savings account, the no. of transactions are limited. It is mostly recommended for people doing business as there is no limit on withdrawal and deposit.

Different banks provide different features to a current bank account. You must select the best bank for opening a current account according to your needs. Here is a list of some of the best banks for opening a current bank account.

Best bank for opening current account

• ICICI Bank
• HDFC Bank
• Kotak Mahindra Bank
• Axis Bank
• SBI
• IDFC Bank
• Bank of Baroda
• IndusInd Bank

Let’s have a look at the features these banks provide to its customers on having a current bank account.

Features of a current account different banks provide:

Current account in ICICI Bank

ICICI is one of the leading commercial banks in India. It has a huge customer strength which is growing consistently. The bank aims at providing its customers with the best services and features to maintain its hold in the market. The bank likes to invite more and more business owners towards it to make maximum profits. For the same, it provides some amazing features in its current account. Some of the key features of ICICI current account are:

• Dedicated relationship manager.
• Unlimited free cheque deposit and payments
• Unlimited transactions
• No non maintenance charges
• Free mobile alert facility
• Free RTGS and NEFT transactions
• Free cheque collection and payment anywhere across the country
• Free business banking Debit card
• Customised bank account as per needs.

These were some of the key features that ICICI provides to customers on an ICICI current bank account.

Current account in HDFC Bank

HDFC is the biggest commercial bank of India. With excellent marketing skills, it has made its huge customer base. HDFC like any other bank aims at maintaining its customer strength by providing them with best services and facilities. HDFC being a commercial bank strives at making the maximum profit it can. And what better way of making profit could be than attracting business owners? HDFC has made banking a lot attractive and convenient for its business owning customers, an example to that could be its attractive current account features. Here is a look on HDFC current account features:

• No charges applied for unlimited NEFT/RTGS/IMPS.
• With increase in value, cost-efficiency is ensured through dynamic pricing.
• 30 lacs quarterly volumes on AQB waiver through POS / SmartHub Vyapaar App / Payment Gateway.
• For all transactions, multiplier benefits are applied.
• No charges on issuing of 50 DDs/ POs per month for every 1 lac of balance maintained.
• No charges on cheque collection & payment in local or intercity HDFC Bank Branches.
• Get instant alerts on your transactions through our InstaAlert service, etc.

These were a few features of HDFC current account banking service.

Current account in Kotak Mahindra Bank

Kotak Mahindra is a private finance and banking company headquartered in Mumbai. It generally provides banking services to the corporates and retail. It serves most in the field of personal banking, investment and insurance. Being a bank for the corporates, Kotak Mahindra Bank is surely an option to be considered to have a current account. Here are the features in a Kotak Mahindra current bank account:

• Cash deposits upto Rs. 7.5 Lakhs per month in any branch.
• One free cheque every day.
• Unlimited no charge cash withdrawal.
• No charges on funds collection through NEFT and RTGS.
• No charges applied on cheque payments locally or outside.
• No charges applied on cheque collection locally or outside.
• Access to International Titanium Mastercard debit card on your account.
• Cash withdrawal upto Rs. 100000/day through ATMs
• No charges applied on the monthly statement.
• Personalised cheque book

The list goes beyond and beyond. These were some of the main features of Kotak Mahindra current bank account.

Current account in Axis Bank

Axis Bank is another wonderful bank headquartered in Mumbai with a lot of facilities delivered to its customers with ease through technology and efficient customer service. Its main aim is to provide financial services to SMEs, mid size companies and retail businesses. To provide its customers with the best banking service, Axis Bank gives its customers amazing features of its various banking accounts. Here are the top features of Axis Bank current account:

• It must maintain a monthly average balance of Rs. 15,000.
• Cash deposit limit of upto 2 lakhs.
• Free NEFT/RTGS transactions.
• No charges applied on cheque payments locally or outside.
• Special Business Classic Debit Card.
• No charges on cheque book, DD/PO, Alerts, Standing Instructions & Certificate Of Balance.

These were some of the major features of Axis Bank current account.

Current account in SBI

SBI is the largest bank of India with a customer base of over 45 crore. With such a big customer strength comes the faith and satisfaction of customers that has been on SBI for over the years. Its SBI’s ability to cater to such a huge no. of people with different needs. There might be crores of people in India holding a current account in India, they must be enjoying all the features of a SBI current bank account. Let’s have a look at the few of them:

• Can be operated on a low monthly balance of Rs. 5000.
• No charges applied on cash deposit worth Rs. 5,00,000.
• Easy deposit or withdrawal of cash on any of SBI branches.
• No charges applied on cash withdrawal from Home branch.
• No charges applied on Internet Banking.
• No charges applied on NEFT/RTGS.

These were some of the key features of SBI current account.

Current account in IDFC Bank

IDFC is another private sector bank of India that aims to earn maximum profit by providing banking and financial services to its customers. It is a new bank founded recently on 1st October, 2015. The aim is like any other bank to serve its customers with the best of its abilities, provide great services and features of banking. Here are the features of IDFC current bank account:

• No charges on funds transfer through NEFT / RTGS / IMPS.
• No charges on DD issuance.
• No charges on banking from non home branches.
• No charges on cheque collection.
• GPS enabled non cash banking services at doorstep for a year.
• No charges on account statements, SMS alerts, etc.

These were some of the key features of IDFC current account.

Current account in Bank of Baroda

Bank of Baroda is another public bank operating under the ownership of the Ministry of Finance. It is one of the other trusted banks of India. Bank of Baroda is expanding daily on the domestic level with 8,246 branches, 11,553 ATMs, etc. BOB has been ranked better than all other PSU banks for its excellent services in net interest rate, better current account accretion, etc. Let’s look at the features of Bank of Baroda current account features:

• Availability of mobile and internet banking.
• Availability of missed call facility.
• Special Debit card and ATM card facility.
• Availability of SMS services.
• The minimum balance of the BOB current account can be as low as Rs. 2000 in rural branches.

These were some of the main features of the Bank of Baroda current account.

Current account in IndusInd Bank

IndusInd Bank is a private sector financial and banking services headquartered in Mumbai. The bank provides commercial, transactional, electronic banking products and services. It has been in operation since 1994. IndusInd bank strives to provide its customers with the best of banking facilities. Being a commercial banking provider, we assume that the bank must be having great features for its commercial account holders. Here are some key features of IndusInd current account:

• Dedicated relationship manager.
• Expert trade advisory.
• High cash deposit limits.
• Mobile and internet banking facility.
• Unlimited NEFT/RTGS transactions.
• Banking facility right at your doorstep.

These were some of the key features of IndusInd bank current account.

Here was a detailed features list of a current account in different banks, you can choose the bank of your choice as per your need to open a current account.