+2 votes
in Class 12 by kratos

Explain the procedure of opening of current account in a bank

1 Answer

+5 votes
by kratos
 
Best answer

All Indian Banks are allowed to open current accounts. First of

(a) We approach any bank with the requisite documents and on successfully furnishing all details in the application form, the bankers will verify all documents and on being satisfied, they will open your current account.

(b) Current Account most banks have minimum quarterly average balance criteria of Rs. – 5,000 to 10,000.

(c) The following documents are required for opening a current account in India.

(i) PAN Card

(ii) Partnership Deed

(iii) Certificate of Incorporation

(iv) A cheque for opening the bank Account

(v) Address proof

(vi) ID Proof

(d) The account holder would also be required to complete with all KYC norms.

(e) All banks provide the facility of Debit card, mobile banking and interest banking for current account user.

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