Current Deposit

Current Accounts are ideal for all your business transactions. Access your account anytime and make unlimited payments with at Par Cheque, Deposit Cheque or Demand Draft, etc.

Eligible to operate a Current Account

Individual – Single / Joint account
Hindu undivided family
Sole Proprietorship firm
Partnership firm
Limited company – Private / Public
Trust / Club / Registered / Unregistered Society / Association
Government / Semi – Government Bodies / Department

To open Current Account : Refer Basic Documents – Current Deposit

Current account

Salient features of the scheme

A regular current account for business / corporate customer Minimum opening balance Rs.3000/-

Cheque book at nominal price
DEBIT Card facility
Free account statement facility (duplicate statement charges applicable)
Mobile Banking facility.
Fund transfer facility through IMPS/RTGS/NEFT anywhere in India
ATM/POS/BEPG
Any branch banking facility
Safe deposit locker facility

Basic Documents

Duly completed account opening form
- Pan card/FORM 60- if, no Pan card
- Proof of residence of the applicant(s)
- Proof of Photo Identification of the applicant(s)
- Two recent passport size colour photographs of Partner(s) / Director(s)
- Introduction by an existing customer, whose account is at least 6 months old OR In case institution, submit following constitutional documents
- Company : Memorandum & Articles of Association, ResolutionPartnership Firm : Partnership Deed, Registration receiptTrust : Trust Deed, Resolution
- HUF :HUF Deed, Co-parceners letter

Know Your Customer (KYC) norms
The prospective account holder should comply with the ‘Know Your Customer (KYC)’ norms by producing one or more of the following documents in support of identity and address:

Accounts of companies
Name of the company Principal place of business Mailing address of the company Telephone / Fax Number	Certificate of incorporation and Memorandum & Articles of Association Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account Power of Attorney granted to its managers, officers or employees to transact business on its behalf Copy of PAN allotment letter Copy of the telephone bill

Accounts of companies

Name of the company

Principal place of business

Mailing address of the company

Telephone / Fax Number

Certificate of incorporation and Memorandum & Articles of Association

Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account

Power of Attorney granted to its managers, officers or employees to transact business on its behalf

Copy of PAN allotment letter

Copy of the telephone bill

Accounts of partnership firms
Legal name Address Names of all partners and their addresses Telephone numbers of the firm and partners	Registration certificate Partnership deed Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf with ID Proof Any officially valid document identifying the partners and the persons holding the Power of Attorney and their addresses Telephone bill in the name of firm/partners

Accounts of partnership firms

Legal name

Address

Names of all partners and their addresses

Telephone numbers of the firm and partners

Registration certificate

Partnership deed

Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf with ID Proof

Any officially valid document identifying the partners and the persons holding the Power of Attorney and their addresses

Telephone bill in the name of firm/partners

Accounts of trusts & foundations
Names of trustees, settlers, beneficiaries and signatories Names and addresses of the founder, the managers / directors and the beneficiaries Telephone / fax numbers	Certificate of registration Power of Attorney granted to transact business on its behalf Any officially valid document to identify the trustees, sheltors, beneficiaries and those holding Power of Attorney, founders / managers / directors and their addresses Resolution of the managing body of the foundation / association Telephone bill

Accounts of trusts & foundations

Names of trustees, settlers, beneficiaries and signatories

Names and addresses of the founder, the managers / directors and the beneficiaries

Telephone / fax numbers

Certificate of registration

Power of Attorney granted to transact business on its behalf

Any officially valid document to identify the trustees, sheltors, beneficiaries and those holding Power of Attorney, founders / managers / directors and their addresses

Resolution of the managing body of the foundation / association

Telephone bill

Introduction

The prospective account holder should be introduced by a third party, acceptable to the Bank.

Cheque book facility

All current account holders are provided with cheque books, collecting the cost of such cheque books

Inoperative Accounts

If the account is not operated by the account holder, the account will be transferred to ‘Inoperative Account’ on completion of 24 months from the date of last operation

Review of inoperative accounts

Inoperative account shall be reviewed by the Bank at its discretion to bring back to the ‘Operative Status’, if the account holder requests in writing duly complying with KYC norms like furnishing of latest passport size photograph, address proof in support of address given, latest specimen signature with operation instructions etc

Dormant Accounts

If an account in ‘Inoperative’ status is not operated in the parent branch by the account holder, the said account will be treated as ‘Dormant Account’ on completion of 36 months from the date of previous operation by the customer in inoperative status or on account of becoming ‘Inoperative’ whichever happens later. Such ‘Dormant Accounts’ are not eligible for operations therein by the customer nor for review for bringing the account back to ‘Operative’ status. However, the entire balance in the ‘Dormant Account’ can be claimed by the account holder in the base branch personally by submitting a written application, establishing his / her identity and surrendering the unused cheque leaves, if any

Interest and charges

No interest will be paid on Current Account.
Bank reserves the right to levy service charges on current account from time to time on various counts, which is presently as under:
* Minimum of Rs.100/- and thereafter Rs.10/- per page for every half yearly
If the account is closed incidental charges will be recovered (except where premature closure of an account is due to the death of the account holder, transfer to another branch, transfer for term deposits or for opening another joint account)

Nomination facility

Nomination facility is available for individuals and proprietary concerns