What are the requirements for SBI current account?

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What are the requirements for SBI current account?

How to Start an SBI Current Account

  • Photo proof of identity – PAN card, voter ID card, passport or driving license.
  • Proof of your address.
  • A recent colour photograph.
  • Your PAN/Form 49A and Form 60 if you’ve applied for PAN.
  • Your account opening Cheque from an existing Savings/Individual Current Account.

Who are eligible for current account?

You are eligible to operate a Regular Current account if you fall under any of the following categories:

  • Resident Individual.
  • Hindu Undivided Family.
  • Sole Proprietorship.
  • Partnership.
  • Limited company.
  • Trust.
  • Association/Club/ Society.
  • Foreign Institutional Investor.

What are the documents required for current account?

Documents required for opening of Current Account

  • Registration certificate (in the case of a registered concern)
  • Certificate/licence issued by the Municipal authorities under Shop & Establishment Act.
  • Sales and income tax returns.
  • CST/VAT certificate.
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Can SBI current account be opened online?

Online Current Account Application Process in Brief Fill up the Account Opening Form and submit the required details online. Download and Print the Account Opening Form (AOF) using ARN sent on registered mobile number. Visit the selected branch with account opening form, photograph and applicable KYC documents.

How do I apply for a current account?

You can also apply for a Current Account online….Sole Proprietors applying for a Current Account – Normal would ideally need to furnish:

  1. Entity & Address Proof of the firm.
  2. Pan card of the Proprietor.
  3. Address proof of the Proprietor along with a recent Passport size photograph.

What is minimum balance for current account?

The minimum balance requirement for opening a Normal Current Account is Rs. 10,000.

Which bank is best for current account?

7 Best Banks for Current Account /Business Account in India for 2021 – to boost your business banking

  • Documents Required.
  • HDFC Bank – Smart up Solution for Start-Ups.
  • ICICI Bank Current Account.
  • State Bank India – Basic Current Account.
  • Axis Bank Current Account.
  • Citi Bank Current Account.
  • YES Bank Current Account.

Is GST required for current account?

To carry out any financial transaction for your business, you require to set up a Current Account. However, GST is not mandatory to open a Current Account. There is no GST on Current Bank Account.

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Can Ngo open current account?

How NGOs can operate bank accounts – NGO Financial Management Policy. All registered NGOs in most countries can operate bank accounts. Bank accounts are also required to receive funds mobilized by NGOs besides using them for administrative and project-based expenses.

Who Cannot open savings?

Under the Fair Credit Reporting Act, banks are required to tell you why you’ve been denied a bank account. The most likely reason to be denied an account is that you’ve got an outstanding debt with a bank – often because of unpaid bank fees. But you may also be denied because of a history of frequent overdrafts.

Which bank is good for NGO?

The 32 designated banks where individuals, NGOs and other entities can open their accounts are: Abu Dhabi Commercial Bank, ICICI Bank, The Cosmos Co-Operative Bank, Bank of Baroda, State Bank of India, South Indian Bank, IDBI Bank, Central Bank of India, Corporation Bank, Karur Vysya Bank, Tamilnad Mercantile Bank Ltd.

What is the minimum balance required in an SBI current account?

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The minimum balance requirement varies from one current account variant to another. For Regular Current Account is it Rs 10,000 while for Gold Current Account it is Rs 1 lakh. Q. What are the benefits of SBI Current Account?

What are the documents required to open an SBI current account?

SBI requires the below-given valid and self-attested documents from you to open a current account. Below-given is a list of documents for State Bank of India Current Account Opening: 1. For Individuals Identity Proof: PAN Card, Driving Licence, Aadhaar Card, Voter ID card, etc.

How much does it cost to open current account in SBI?

Rs. 60/- + GST per transaction. Rs. 60/- + GST per transaction. Rs. 60/- + GST per transaction. This current account fits entrepreneurs or traders who deal with the small businesses can open this current account in SBI along with basic facilities at a nominal cost.

What is current account in State Bank of India?

The State Bank of India (SBI) offers a wide variety of current accounts to cater to the banking needs of all the individuals. A current account is majorly meant for businessmen, companies, firms etc. that undergo numerous daily banking transactions.