Current Accounts are business accounts so that you can deposit all your cash / cheque / drafts and can make payments to your suppliers through cheque / DD / Pay Order / NEFT or RTGS. NEFT and RTGS are free of charge and are the most convenient way of transfer of funds from and to your account.
No interest is payable in Current accounts. Some routine charges are levied for the great services rendered to you.
Individuals in single or joint names, sole proprietorship concerns, partnership concerns, pvt. Limited companies, limited companies, corporations, govt. departments, HUF, trusts etc.
You need to visit your nearest branch to open a current accounts. With a view to speed up processing, you should carry the following documents with you while visiting the branch:
1. Your KYC documents (Photographs, PAN Card, Photo ID and Address Proof of each joint account holder / signatory).
2. Documents related to establishment of your business ( e.g. Address of business, activity, , Trade Tax, PAN Card, Sales Tax, Service Tax Registration etc. In addition to this, wherever applicable, partnership deed, Certificate of Commencement of Business, Memorandum and Article of Association, Board Resolution, Trust Deed etc. would also be required.)
Sanction of Overdraft Limits in Current Account
One of the reasons of popularity of Current Accounts is the facility of regular OD limits that may be granted in these accounts. Shivalik Bank grants OD limits in Current accounts against bank’s own FDRs, Post Office Receipts (NSC / KVP), LIC policy / or against property etc.).
Apply online for Current Account. Our representative will call you very soon.