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Open a Current Account

A Current Account is very important for efficiently managing daily business transactions. Kotak Mahindra Bank provides a wide range of Current Account variants to fuel your business growth. Empower your business with Kotak Current Accounts, make the most of powerful banking solutions and accelerate your business growth.

Features & Benefits of Current Account

Kotak Mahindra Bank's Current Accounts offer several power-packed features and benefits. It comes with the feature of ActivMoney, which empowers you to earn interest on your idle funds through an auto-sweep facility.

Special Brand Deals and Discounts available with Kotak Current Accounts

Kotak Mahindra Bank has partnered with brands offering exclusive deals to handle various aspects of your business. Explore our bouquet of offers, specially curated for you to manage your day-to-day business with ease.

Accelerate your Business Growth with Our Powerful Banking Solutions
 

What is a Current Account?

Current account is like a deposit account where there are no restrictions on certain services and allows a higher number of transactions for your perusal. This is most beneficial for businessmen or entrepreneurs who seek some relief from regular deposit account restrictions in managing their day to day financial transactions.

Eligibility Criteria for Current Account Opening

  • Individuals: Not just businesses, individuals can also easily apply for a current account.
  • Sole Proprietorship Firms: Sole proprietors can open a current account and enjoy the convenience of a quick setup.
  • Partnership Firms: Partnership firms that meet the eligibility criteria can open a current account and manage their business transactions easily.
  • Limited Liability Partnership (LLP) Firms: Limited Liability Partnership (LLP) firms are eligible for opening a current account, which provides access to streamlined financial operations.
  • Hindu Undivided Family (HUF): HUF entities are eligible to apply for a current account, which helps facilitate the convenient management of family finances.
  • Public or Pvt. Ltd. Companies: A current account is available for both public and private limited companies that meet the eligibility criteria. It will assist companies in efficiently addressing their corporate needs.

Finally, whether you are an individual who wishes to have a current account or a business entity, you must fulfil our eligibility criteria to ensure you have the right financial solution. Apply for a Kotak current account today and unlock a world of infinite possibilities.

How to Open a Current Account

Opening a current account can be done by two different methods. One via ‘Call Back’ and another by visiting the nearest branch. The process is very simple that involves filling out a form, providing the required documents and that will be enough to open your Current account.

Receive a call back:

  • Click the "Apply Now" tab
  • Fill out the form
  • Click on Submit


In-Person Application:

  • Visit the nearest branch
  • Fill up the account opening form
  • Provide required KYC documents in person

Frequently Asked Questions

Who can open a Current Account?

For a Current Account, eligible businesses and constitutions are individuals, sole proprietorships, partnerships, limited liability partnerships, Hindu Undivided Families (HUFs), public/private limited companies, etc.

Do Current Accounts earn interest?

No, Current Accounts don't earn you interest. However, you can earn interest on the idle funds in your Current Account with the ActivMoney facility.

What is the minimum balance for a Current Account?

For a Current Account, the minimum balance criteria are different and usually depend on the account type you opt for. Selecting the variant that aligns perfectly with your business needs and financial capabilities is essential to meet the minimum balance requirement smoothly.

What are the different types of Current Accounts?

There are several types of Current Accounts, and one can explore a diverse array explicitly crafted to cater to the unique needs of their business.

Which Current Account is best for small businesses?

Small Businesses have their unique set of requirements. At Kotak, our Current Account offerings are designed to meet the needs of small/growing businesses. When opening a Current Account, consider an option that aligns perfectly with small enterprises' requirements. Kotak Neo Current Account for small businesses offer specialised solutions.

Can an Individual open a Current Account?

Yes, Individuals can also open a Current Account.

Is it possible to have multiple Current Accounts?

Yes, it is possible to have multiple Current Accounts. One can dedicate each account to specific financial aspects, providing better control and financial management.

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