Banking · Business

Current Accounts

Mandatory for businesses, professionals, and entities with frequent transactions. No interest paid (RBI rule), but unlimited transaction volumes + dedicated relationship manager + integrated GST/payroll for premium tiers. Pick by your monthly transaction volume + integrations needed.

Who needs this

Sole proprietors, partnership firms, LLPs, private limited companies, professionals (CA/doctor/architect/lawyer). Switch from savings to current if your transaction volume crosses 50/month or you need GST-linked payments.

Key decisions

Q1
Which AMB tier — ₹10K, ₹50K, ₹2L, ₹5L?
₹10K-50K: solo professionals + early-stage startups. ₹2L-5L: established businesses needing relationship manager + dedicated branch service. Above ₹5L: forex, trade finance, payroll integration.
Q2
Public-sector or private?
Public-sector (SBI, BoB, PNB): cheaper, slower, weaker apps. Private (HDFC, ICICI, Axis, Kotak): pricier but stronger digital + faster service. Newer pure-play (RazorpayX): API-first, B2B SaaS-style.
Q3
Cash deposit limits — what to check?
Free cash deposit limits matter — typically 25× AMB or ₹3-5L/month. Beyond that: ₹3.5/₹1000 cash deposit charge. Critical for cash-heavy businesses (retail, food).
Q4
GST-integrated banking?
Yes — top-tier accounts integrate GST input claim + e-invoicing. Saves CA fees + manual reconciliation. ICICI Smart, HDFC Smart, Yes Bank Pro have strongest integration.

Top picks

Source: bank disclosures + RBI rate notifications · refreshed monthly

RazorpayX Business
API-first, integrated payouts, payroll, vendor payments. Best for SaaS.
No interest
ICICI Bank iSmart
GST-integrated + relationship manager + strong app.
No interest
HDFC Bank SmartUp
Startup-focused — stage-based AMB tiers, low setup cost.
No interest
Axis Bank Liberty
Free unlimited NEFT/RTGS + dedicated RM.
No interest
SBI Power Pack
Lowest fees + biggest branch network. Slow service.
No interest

RBI rules + scheme specifics

Current accounts pay ZERO interest by RBI mandate.
Cash deposit limit: typically 25× AMB or ₹3-5L/month free.
AMB penalty for current accounts: typically ₹500-2000/month vs ₹150-600/quarter for savings.
Current account holders cannot get an interest-bearing FD via the same RBI customer ID — get a separate savings account for FD parking.