Opening Of Current Bank Account
Any person approved by the bank may open the current bank account agreeing upon to comply with the rules governing the current bank account.
A person intending to open an account must be properly introduced by the current account holder known to the bank.
The current account can be opened in the name of the individual in the single name, two or more individuals in their joint name with survivor clause E or S/A or S/Jointly, a sole proprietorship concern, Private/Public companies, institution, Trusts, Societies, etc.
The current account cannot be opened by minor, illiterate, and blind persons. However, the account of a minor to be operated by a natural guardian may be opened as per the bank’s discretion.
The current account is a running and active account which may be operated upon any number of times during a working day. There is no restriction on the number and amount of withdrawal.
An account may be opened with a minimum of Rs.5000 only in cash after completion of all necessary formalities & KYC norms Rs.50 quarterly deducted if balance is maintained less than Rs.5000.
No interest will be allowed on the current bank.
