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Online Current Account
Current account contain the information about all corporate or business based transaction performed by the organization and individuals. It refers to all transaction not to saving and other particular transaction. It will be defined over the certain tenure. In most of cases, as per provision customer will be allowed to transfer half amount and remaining amount points to financial account along with capital.
Basically capital amount is allows to use for supporting in foreign transaction and corporate based activity. It decides the credit of individual on basis of exports and imports of goods and services along with amount receive via transaction from abroad.
A current account of particular country either will be positive or negative, in other terms it refers to surplus and deficit. Whenever this kind of situation will arise then registration will be equal and opposite of capital account balance. As we know that imports are recorded as debits while exports are recorded as payment of balance.
The online trading services are provided by depositories such as NSDL and CDSL through the network of intermediaries, depository participant, and stock brokers. The charges vary according to the volume held in the account, subscription type, and the terms and conditions laid by the stock broker and the depository.
In capital account, each credit in exports will always be treated as corresponded debit. Generally country lends money to pay the charges of exports. These days customers prefers to open account online as per their comfort and opening account online ease plenty of things for customers.
Surplus in current account increases the net foreign asset of the respective country while deficit in current account refers to decreasing in nation deficit amount. Positive current account balances refers to financial strength of country and specify that country is not a lender of any country across the world; on the other hand negative account balance refers that country is net borrower.
Banks Current Account Comparison
| Bank | Minimum Average Balance | Withdrawal limit |
|---|---|---|
| Kotak Bank Edge Current Account | Average Quarterly Balance of Rs. 25,000 | Up to Rs. 50,000 |
| ICICI Bank Smart Business Account | Rs. 25,000 | Unlimited for base withdrawal and Rs. 50,000 for non- base withdrawals |
| HDFC Bank Regular Current Account | Rs.10,000 per quarter | Unlimited at base withdrawal |
| SBI Regular Current Account | Rs. 10,000 | N/A |
| Axis Bank Normal Current Account | Rs. 10,000 | Rs. 1 Lakh per day |
| Bank of Baroda Baroda Small Business Current Account | Quarterly Average Balance Rs. 2,500 | N/A |
Calculation of Current Account
Income
When accompany of domestic nationality or an individual receive amount through any foreign identify or through individual identify. If any foreign company invest amount in any domestic company then central government will consider it as debit.Goods
As we know that goods are movable asset that every country do for their own trading and especially to strength, across the world. Whenever any domestic company performs transaction to any foreign country, this entire processing is called export. If we talk in another prospect in case someone receive amount from other country then it will be called import. While calculating current amount imports also known as the outflow of money and export also known as the inflow of money to get exact calculation.Current Transfer
Whenever any foreign country receive amount from certain country then process of current transfer take place in calculation. In most of cases, individual or any organization perform transaction via traditional mode like official assistance, through donation and other aids.Services
In case of intangible services like tourism prefer by native of other country in local land or organization and it give money to local resident, then this type of transaction will be calculated as export so as credit.Top Banks for Current Account in India
| Bank/Financial Institution | Current Account Types | Maximum Cash Deposit Allowed |
|---|---|---|
| Bank of Baroda | a. Baroda Small Business Current Account (BSBCA) b. Baroda Premium Current Account (BPCA) c. Baroda Advantage Current Account (BACA) d. Baroda Premium Current Account (BPCAP) |
Up to ₹1 lakhs per month |
| State Bank of India (SBI) | Regular Current Account | No limit |
| HSBC Bank | a. Business Vantage Account b. Business Select Account c. HSBC Direct for Business |
Unlimited |
| HDFC Bank | -Ultima Current Account -Supreme Current Account -Apex Current Account -EZEE Current Account -Max Current Account -Agri Current Account -Plus Current Account -Current Account for Hospitals and Nursing Homes -Trade Current Account -Current Account for Professionals -Premium Current Account -Merchant Advantage Plus Current Account -Regular Current Account -Merchant Advantage Current Account -Flexi Current Account -Institutional Current Account -Smart Up solution for Start Ups -Ascent Current Account -RFC Domestic Current Account -Exchange Earners Foreign Currency (EEFC) Account -E-comm Current Account -Saksham Current Account |
Up to ₹ 2 lakhs per month (for regular current account) |
| ICICI Bank | a. Regular Current Account b. New Startup Current Account c. Subhaarambh Current Account d. Smart Business Account e. Smart Business Account - Gold f. Roaming Current Account - Gold g. Roaming Current Account Standard |
Up to ₹1.8 crores per month |
| Kotak Mahindra Bank | -Neo Account -Start Up Regular -Start Up Premium -Global Trade -Ace -Astra 05 -Astra 15 -Elite -Pro -Edge |
Up to ₹5 lakhs |
| Axis Bank | a. Normal Current Account b. Local Current Account c. Business Advantage Account d. Business Select Account e. Business Classic Account f. Sweeps Current Account g. Business Privilege Account h. Channel One Account i. Club 50 Current Account |
Up to ₹2 lakhs per month (for regular current account) |
| YES Bank | a. Business Value Current Account b. Business Growth Current Account c. Business Benefit Current Account d. Business Edge Current Account |
Up to ₹5 lakhs |
Benefits of Current Account
Steps to Open Current Account at Applykaroo
Step 1. Go to url https://www.applykaroo.com/current-account and following window will appear on screen.
Step 2. Enter name of your city, type of job and your monthly income and click on the search button.
Step 3. Then,as per user detail relevant current account offering bank list will appear on screen.
Step 4. Then, user can select the best current account as per his interest and then click on the APPLY NOW button.Step 5. Now, Enter your personal details as per requirement in application form.
Step 6. After detail submission,within month respective bank will deliver your current account debit card at your door step.