Table of Contents
- 1 What is the minimum balance for current account in SBI bank?
- 2 What is the minimum amount to open current account?
- 3 What is required to open current account?
- 4 Which bank is current account?
- 5 What are the requirements for current account?
- 6 What is the minimum balance required to open a SBI savings account?
- 7 Should a startup open a bank account in India?
- 8 What is Amb in State Bank of India?
What is the minimum balance for current account in SBI bank?
SBI Bank Current Account Products
| S.No. | SBI Current Account | SBI Current Account Minimum Monthly Average Balance (MAB) |
|---|---|---|
| 1. | Regular Current Account | Rs. 10,000 per month |
| 2. | Power Gain Current Account | Rs. 2,00,000/- |
| 3. | Power Pack Current Account | Rs. 5,00,000 per month |
| 4. | Power PoS Current Account | Rs. 5,000 per month |
What is the minimum amount to open current account?
The minimum balance requirement for opening a Normal Current Account is Rs. 10,000.
How much do I need to open a current account in Nigeria?
N5,000
It requires a minimum opening balance of N5,000 for individuals and N10,000 for corporates. No minimum operating balance allowing for account to be operated at zero balance. No limit to number of withdrawals in a month. This account allows funds transfer and bank cheques/drafts.
What is required to open current account?
To open a current account, KYC documents like identity proof and address proof are required along with business proof. Documents valid for Address Proof are Passport, Aadhaar, Voter’s ID Card, Ration Card, Driving License, Lease/Rent Agreement, Property Documents, Utility Bills.
Which bank is current account?
Best Banks for Current Account
| Banks | Maximum Cash Deposit Allowed |
|---|---|
| HDFC Bank | Up to ₹2 lakhs per month (for regular current account) |
| ICICI Bank | Up to ₹1.8 crores per month |
| Axis Bank | Up to ₹2 lakhs per month (for regular current account) |
| Bank of Baroda | Up to ₹1 lakhs per month |
What documents are needed to open a current account?
Current Account for Individuals (business purpose)
- One Identity proof from: PAN Card, Passport, Voter Identity Card, Driving License, Aadhaar Card.
- One Address proof from: Passport, Voter Identity Card, Driving License, Aadhaar Card.
- Recent Colour Photograph.
- PAN/Form 49 A along with Form 60 if applied for PAN.
What are the requirements for current account?
Documents Required to Open a Current Bank Account
- Duly Signed Application Form with a Photograph.
- Identity Proof like copy of PAN Card and Aadhaar Card of all directors or partners.
- Address Proof like telephone bill or electricity bill.
- A cheque for opening current bank account.
What is the minimum balance required to open a SBI savings account?
According to the SBI bank instructions, the minimum balance required for savings account holders is Rs. 5,000 in metropolitan areas.
What is the minimum balance to be maintained on current account?
1 Minimum Average Balance to be maintained – 10,00,000 2 Charges for non-maintenance of Minimum Balance – 1,000 3 For complete details on Current Account please refer here
Should a startup open a bank account in India?
If you are a startup based out of India looking to open a Bank account – the making of this decision can be overwhelming in terms of choice of the Bank as the products are far too many and the decision is a long term decision.
What is Amb in State Bank of India?
“State Bank of India has decided to waive maintenance of Average Monthly Balance (AMB) for all Savings Bank Accounts,” the bank’s press release stated. From now on all SBI customers will enjoy the zero balance facility in their savings bank accounts.