Best Current Account for Small Business @ Low Minimum Balance

Q: How does a small business open a Current Account?

Neo Current Account is best suited for small businesses.To initiate the process, click 'Open Online' for a self-guided application. If you prefer assistance setting up your small business Current Account, click 'Apply Now'. Our dedicated team will guide you through opening your Neo Current Account.

Q: How can I open Neo Current Account?

Yes, having a Current Account for Sole Proprietorship is highly beneficial.It helps separate personal and business funds, which is crucial for effective financial management.

Q: How do I open a Current Account for my firm?

Opening a Current Account for your business is a straightforward process.To initiate the process, click 'Open Online' for a self-guided application. If you need assistance opening a Current Account, click 'Apply Now'. Our dedicated team will assist you.

Apply Now

Neo Current Account - Features

Experience personalised business banking solutions with Neo Current Account, a meticulously crafted Current Account tailored to help you grow your business. This low minimum balance Current Account comes with power-packed features that enable you to get your business on the fast track. Enjoy high daily purchase limits, earn attractive returns on idle funds with ActivMoney, support your business needs with an unsecured overdraft facility, multi-city at-par cheque book and more. It’s a small business Current Account that aligns with your business aspirations, providing you with the empowerment you need to thrive. Embark on a journey of seamless banking with Neo Current Account and let your business soar to new heights.

Comfortable Quarterly Balance

Maintain an Average Quarterly Balance of Rs.10000

Business Power Platinum Debit Card

Daily purchase limit of Rs. 2.50 lakhs and daily ATM cash withdrawal limit of Rs. 50,000

Kotak ActivMoney

*Current account balance converts to term deposits - to help earn attractive returns on idle balances

Kotak Credit Access

Unsecured overdraft facility up to Rs. 15 lakhs for short-term business needs (1)

Multi-city at-par cheque book

The first cheque book is free

More Features & Benefits

Free cheque collection through Speed Clearing
Faster outstation cheque collection
Free cash withdrawal at the home branch location
Free cash withdrawal at non-home branches - up to Rs 10,000 per day
Free cash deposit upto Rs 2 lakh per month
Free NEFT and RTGS through net-banking
Free 24x7 net, mobile, phone, and SMS banking
Balance alerts / transaction and value-added alerts through SMS at a nominal charges. Email alerts are free
Kotak Circle: Facility to club multiple current and saving accounts – this provides the flexibility to maintain minimum group AQB balance in any one or more accounts
Better forex rates and efficient trade services
Forex Live – An internet-based foreign exchange trading platform that enables buying and selling foreign currency for import/export transactions and other remittances (2)
Cash management services
Payment gateway solutions for quick receipt of payments from customers (3)
Point of Sale (POS) Solutions - Accept contactless, secure and faster payments with Kotak NFC enabled POS machines. Our customised Android Solution integrates with the billing application seamlessly and comes with features like Same-day Settlements, Dynamic Currency Conversion, Instant EMI Conversion, and more.

Disclaimers

Conditions apply. Available in select locations only. Credit is at the sole discretion of Kotak Mahindra Bank Ltd., and is subject to guidelines issued by the RBI periodically. The bank may engage services of marketing agents for sourcing loan assets.
At the bank's discretion.
Offered through third-party tie-ups.

All the features and benefits are subject to terms, conditions, and exclusions. Please refer to the 'General Schedule of Features and Charges, for more details.

*For deposits above 7 days. T&C apply. For detailed terms and conditions, please visit www.kotak.com. ActivMoney (Auto-Sweep) is a facility of automatically sweeping out funds above a pre-specified threshold from your Current Account to a Term Deposit (TD) Account for 180 days. In case of insufficient balance in the Current Account, the TD will be broken prematurely and the required amount will be transferred to the Current Account. Default Sweep Out and Sweep In for limit for an account variant are the minimum thresholds and one will not be able to opt for limits lower than these. Auto-Sweep out of funds above a pre-specified threshold from Current Account to Fixed Deposit will be for 180 days (For NRE accounts it will be for 1 year) and in multiples of Rs. 5,000/- The nomination registered for Current Account will apply for FDs created through ActivMoney. If the customer opts for ActivMoney in an account, standalone Fixed Deposits cannot be linked to that account. Terms and Conditions guiding the fixed deposit will be applicable to Fixed Deposits booked under ActivMoney. Bank may at its absolute discretion discontinue/suspend any of the services completely or partially with or without any notice to the customer. The rate mentioned is applicable for Fixed Deposits less than Rs. 2 Crores for a tenure of 180 days and is subject to change without prior notice. For ActivMoney (2 way sweep deposits), Regular Kotak Fixed Deposit rates will be applicable, basis the tenor of the deposit, for all customers including Senior Citizens/Bank Staff without any pre-payment penalty.

Frequently Asked Questions

How can I open Neo Current Account?

Opening a Neo Current Account, a low minimum balance Current Account is a simple and straightforward process.

Through our user-friendly DIY journey, you can initiate Kotak Bank's Neo Current Account opening online. If you prefer personal assistance, our dedicated staff will always guide you. Simply click on 'Apply Now' and embark on your journey with a Neo Current Account.

Is Current Account mandatory for small business?

A Current Account for a small business is a fundamental necessity for managing cash flow effectively. It provides a streamlined way to handle transactions, making it an essential tool for thriving small businesses.

How does a small business open a Current Account?

Neo Current Account is best suited for small businesses.

To initiate the process, click 'Open Online' for a self-guided application. If you prefer assistance setting up your small business Current Account, click 'Apply Now'. Our dedicated team will guide you through opening your Neo Current Account.

What are the non-maintenance charges (NMC) applicable in NEO Current Account?

In Neo Current Account, Non-Maintenance Charges are ₹1,200 if the Average Quarterly Balance (AQB) is less than 50%.

If the AQB in Neo Current Account is ≥ 50% but < 100% of the required product AQB, the charges are Rs. 750. For more detailed information about Current Account charges, please click here.

How can I open Neo Current Account?

Yes, having a Current Account for Sole Proprietorship is highly beneficial.

It helps separate personal and business funds, which is crucial for effective financial management.

How do I open a Current Account for my firm?

Opening a Current Account for your business is a straightforward process.

To initiate the process, click 'Open Online' for a self-guided application. If you need assistance opening a Current Account, click 'Apply Now'. Our dedicated team will assist you.