Current Accounts
Features of Current Bank Account:
- Current bank accounts are operated to run a business.
- It is a non-interest bearing bank account.
- It needs a higher minimum balance to be maintained as compared to the savings account.
- Penalty is charged if minimum balance is not maintained in the current account.
- It charges interest on the short-term funds borrowed from the bank. It is of a continuing nature as there is no fixed period to hold a current account.
- The main objective of current bank account is to enable the businessmen to conduct their business transactions smoothly.
- There is no restriction on the number and amount of deposits.
- There is also no restriction on the number and amount of withdrawals made, as long as the current account holder has funds in his bank account.
- Generally, bank does not pay any interest on current account.
Required Document for Current Account:
- Identity Proof (Passport / Voter ID / PAN Card / Driving License).
- Address Proof (Electricity Bill / Telephone Bill / Bank Ac Statement / Ration Card / Gas Connection Receipt / Salary Slip).
- 3 Passport size photographs.
- Introduction by an existing Bank customer. If needed.
How to Apply:
Click here for download Current Account Opening form and contact your nearest branch of Udham Singh Nagar District Co-op. Bank Ltd along with all required documents.