Bandhan Bank Current Account

Bandhan Bank Current Account

Bandhan Bank Current Account

Bandhan Bank offers various current account products with high-interest rate benefits to suit the different business requirements. A current account is a demand deposit account that includes deposits of funds, withdrawals and business transactions. This article explains the opening of Bandhan Bank Current Account in detail.

Features and Benefits

The following are some of the main features and benefits of opening a current account with Bandhan Bank:

  • A current account is meant for business people and self-employed professionals to operate their business cash transactions efficiently.
  • Current accounts do not hold any interest rate on balance.
  • It offers a facility of outstation cheque collection for the prompt mobilisation of funds.
  • Bandhan Bank offers convenient access to funds at a wide network of branches and ATMs. It also provides safe online banking services through Net banking, Mobile applications and SMS banking channels.
  • It offers a debit cum ATM card for easy withdrawal of cash from Bandhan bank or other bank ATMs.
  • Bandhan bank accepts At-Par Cheques as “Local Clearing Cheques” which saves on charges associated with the ordering a Demand Draft (DD).
  • Multi-city chequebooks are given at the time of account opening, and nomination facility is also accessible.
  • Bandhan Bank current account offers a premium internet banking facility mainly to manage the accounts and fund transactions and secure bill payment.

Current Account Products

Entrepreneurs can choose from any of the current account products from the following list that suits their business requirements. The below following are the Bandhan bank current accounts explained in detail.

  • Biz Premium Current Account
  • Biz Advantage Current Account
  • Biz Standard Current Account
  • Biz TASC Current Account
  • Biz GOS Current Account
Type of Current AccountsMinimum Balance (Monthly) RequirementCash Deposit Requirement Cash Withdrawal Requirement 
Biz PremiumRs. 1,00,000Rs. 25 lakhs or 20 times of MAB whichever is higher as per month freeFree cash withdrawal at any ATMs. 50 transaction per month DD/PO facility
Biz AdvantageRs. 25,000Free cash Deposit limit at branch – Rs. 15 lakhs per monthFree cash withdrawals at any ATMs – 15 transactions per month
Biz StandardRs. 5000Free cash Deposit limit up to Rs. 5 lakhs per monthFree cash withdrawals at any ATMs – 10 transactions per month
Biz TASCRs. 25,000Free cash Deposit limit up to Rs. 25 lakhs per month  or 20 times of monthly average balance whichever is higherUnlimited withdrawal at home branch
Biz GOSNILThe unlimited cash Deposit facility is availableUnlimited withdrawal at home branch

Eligibility Criteria – Bandhan Bank Current Account

In general, the below following business entities are eligible to open a current account with Bandhan Bank:

Documents Required

The below-listed documents/records need to be furnished at the time of opening a current account in Bandhan Bank:

For HUF (Hindu Undivided Family)

  • Application Form (duly filled)
  • Identity Proof of the Karta: PAN Card, Aadhar Card, Driving License, Voter ID Card, etc.
  • Address Proof of the Karta: Aadhar Card, Valid Passport, Utility bill, Property tax bill, Telephone bill, etc.
  • Duly signed HUF letter by Karta and all Co-Parceners.
  • Passport-size photographs.

For Sole Proprietorship

  • Registration certificate
  • Sales and income tax returns.
  • Identity Proof as per KYC norms: PAN Card, Aadhar Card, Driving License, Voter ID Card, etc.
  • Address Proof as per KYC norms: Aadhar Card, Valid Passport, Utility bill, Property tax bill, Telephone bill, etc.
  • ID proof of the person holding POA.
  • CST/VAT registration Certificate.
  • Passport-size photographs

For Partnership Firm

  • Identity Proof as per KYC norms: PAN Card, Aadhar Card, Driving License, Voter ID Card, etc.
  • Address Proof as per KYC norms: Aadhar Card, Valid Passport, Utility bill, Property tax bill, Telephone bill, etc.
  • Partnership Registration Certificate (in the case of a registered concern).
  • Partnership Deed
  • Passport-size photographs of the partners.

For Public / Private Limited Companies

  • Application form in the prescribed form.
  • Memorandum and Articles of Association.
  • Identity Proof as per KYC norms: PAN Card, Aadhar Card, Driving License, Voter ID Card, etc.
  • Address Proof as per KYC norms: Aadhar Card, Valid Passport, Utility bill, Property tax bill, Telephone bill, etc.
  • Commencement of Business Certificate.
  • Incorporation and Board Resolution Certificate.
  • Registration certificate
  • Licence Certificate issued by the Municipal Authorities under Shop & Establishment Act.
  • Passport-size photographs

For Clubs / Societies / Trusts

  • Registration certificate (if registered).
  • Documents listing the name and address proof of the trustees, sellers, beneficiaries, and the persons holding the Power of Attorney (POA).
  • Constitution document of the entity.
  • The updated directors list to be submitted.
  • Application Form (duly filled).
  • Power of Attorney
  • Identity Proof as per KYC norms: PAN Card, Aadhar Card, Driving License, Voter ID Card, etc.

For Limited Liability Partnerships (LLP)

  • Power of Attorney (POA)
  • Registration Certificate issued by Registrar of LLP.
  • Identity Proof of POA holders: Aadhar Card, PAN Card of the entity.
  • Address Proof: Aadhar of the sole proprietor/entity, Valid Passport, etc.
  • Two passport size colour photographs.
  • LLP agreement.
  • Designated partners updated list.

Application Procedure

To open a current account with the Bandhan bank online, the applicant can either visit the nearest bank branch or by filling up a form with the necessary details on its official website. In the case of visiting a bank branch, the applicant will have to fill up the Current Account opening form and have to furnish all the mandatory documents. After the verification process done by the bank official, the account can be opened successfully.

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Post by Sinduja Shankar

IndiaFilings is India's largest online compliance services platform dedicated to helping people start and grow their business, at an affordable cost. We were started in 2014 with the mission of making it easier for Entrepreneurs to start their business. We have since helped start and operate tens of thousands of businesses by offering a range of business services. Our aim is to help the entrepreneur on the legal and regulatory requirements, and be a partner throughout the business lifecycle, offering support at every stage to ensure the business remains compliant and continually growing.