Top Rated Banks for Current Account in India 2022

Top Rated Banks for Current Account in India | Current Account Opening Minimum Balance | which bank gives interest on current account in india

Choosing a suitable current account for your business is another tiny but important decision you must make right away. Having an account with a reputable bank relieves you of a great deal of stress. A current account is primarily used by persons who are in the business world. Many banks provide a variety of current accounts with varying minimum account balances (monthly or quarterly) and deposit limits. You can concentrate on your account’s requirements when choosing the finest banks for current accounts. In this article, we will provide you with the details regarding Top Rated Banks for Current Account in India.

The two most often utilized accounts are savings and current accounts, or we can say that the working class is separated into savings and current account types.

Banks for Current Account in India

Consider the following factors while selecting the finest current account for your business.

  • A minimum level of balance is required.
  • Charges for cash deposits and withdrawals
  • Internet banking and debit/ATM cards
  • The bank’s location is a crucial issue to consider.
  • Overdraft limit

Top Rated/ Best Bank for Current Account in India 2022

A list of all the Top Rated Banks for Current Account in India is given here.

  • HDFC Bank
  • ICICI Bank Current Account
  • State Bank of India Current Account
  • Axis Bank Current Account
  • Citi Bank Current Account
  • Baroda Small Business Current Account
  • IDFC First Bank Current Account
  • RBL Bank Current Account
  • Kotak Mahindra Bank Current Account
  • Yes Bank Current Account

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HDFC Bank started off as a housing finance company before branching out into banking. For current accounts, it is now the preferred option for both entrepreneurs and corporations. HDFC Bank has a variety of current accounts to pick from. You can choose the one that meets your company’s needs best. The premium Diners Club Black Credit Card, ATM Loans, HDFC on Chat, and HDFC Smart Buy are some of the greatest products offered by HDFC Bank.

You’ll be astonished to learn that HDFC offers 14 different types of current accounts, each tailored to the needs of different types of businesses, from huge corporations to merchants, professionals, and farmers. This is true even for startups and e-commerce businesses. For professionals, such as bloggers and internet entrepreneurs, the bank offers a tailor-made current account. Smart up Solution for Start-Ups was created with an awareness of the challenges and requirements of a new business venture in mind.

HDFC Bank Current Account Options includes the following:

  • Max Advantage Current Account
  • Premium Current Account
  • Regular Current Account
  • Ascent Current Account
  • Plus Current Account
  • Activ Current Account
  • Institutional Current Account
  • Agri Current Account
  • RFC Domestic Current Account
  • EEFC Current AccountSmartups for Startups Current Account
  • E-commerce Current Account
  • Saksham Current Account
  • Current Account for Professionals

HDFC Bank Account Opening



ICICI provides the greatest interactive technologies for banking products. Whether you need an internet banking platform, an online account opening service, or a mobile banking transaction, ICICI has user-friendly tech elements that are simple to use. It offers a variety of current accounts, including premium, special, trade, and merchant services. Except for the RCA standard account, which has a MAB of Rs. 10,000, the QAB of premier accounts ranges from Rs.25000 to Rs.10 lakhs. Premium current accounts have fees that range from Rs.1000 to Rs.8000, depending on the account type.

ICICI Bank’s USP is its technologically better banking platform.ICICI Bank offers CMS payments, mobile banking applications, and trade online approvals for LC, BG, remittances, and bill payments for businesses.ICICI Bank also offers cardless cash withdrawals at ATMs, which is useful when making payments to people who do not have a bank account.

The most important benefit of having an ICICI Bank current account is that you may use the InstaBizz app to access banking services.

State Bank of India

State Bank of India

SBI, one of India’s most prestigious and well-known banks, is not far behind on the list of best banks to create a current account with. The State Bank of India is a nationalized bank, and when compared to private banks, it does not rank at the top, even when compared to ICICI and HDFC. However, following an overhaul of the bank that included modernization throughout, the State Bank of India is putting more pressure on its customer service. You may check out the features of the SBI current account on their official website. While you’re opening a new current account, you can also use corporate banking for your purposes.

The main advantage of having a current account with SBI is the extensive reach and access to a 22,000+ branch network across India for a variety of services. A Cash Deposit Machine/Recycler is available at most SBI branches and ATMs, allowing you to deposit, transfer, and withdraw money instantaneously.

State Bank of India Bank Current Account Options include the following:

  • Regular Current Account
  • Gold Current Account
  • Diamond Current Account
  • Platinum Current Account
  • Power POS Current Account
  • Surbhi Current Account
  • Power Jyoti Current Account
  • Power Jyoti PUL Current Account

State Bank of India Account Opening 

Axis Bank

Because of its zero balance feature, it is the second most well-known small business savings account. They offer 75 free transactions per month as a benefit. It costs Rs.1999 as an annual fee, however, if your MAB surpasses Rs.50000, there is no yearly price. It has a large network of ATMs, as well as online and mobile banking. Axis is the only bank that offers up to 1000 reward points on banking transactions such as account opening and financing, internet banking activation, and e-statement and e-forex registration. Value-based and segment-based current accounts are the two types of current accounts.

Axis Bank recently announced the launch of its “Full Power Digital Current Account,” which can be opened online in four simple steps using video KYC. The account needs a minimum deposit of Rs. 10,000 and provides businesses with access to more than 250 banking services.

Axis Bank Current Account Options include the following:

Digital Current Account

  • Full Power Digital Current Account

Value-Based Current Account

  • Prime Normal Current Account
  • Wealth Club 50 Current Account
  • Prime Advantage Current Account
  • Priority Business Privilege Current Account
  • Priority Channel OneCurrent Account
  • Prime Select Current Account
  • Prime Business Classic Current Account

Segment-Based Current Account

  • Current Account Global
  • Current Account for new economy group
  • Current Account EFC
  • Current Account Priority
  • Current Account Arthiyas
  • Current Account for market intermediaries

Citi Bank

Citi Bank

Citi Bank’s current account is designed for organizations that conduct global trade. The current account allows you to take advantage of Citi’s global network, which spans more than 100 countries and allows you to transact in all major currencies.

Savings on correspondent bank fees, competitive LIBOR denominated rates, the elimination of the need to confirm LCs, and instant inbound or outbound transfers are just a few of the advantages. You also have access to treasury tools for hedging forex transactions, as well as a dedicated relationship manager who can help you with Foreign Exchange, Trade Finance, and Cash Management Services.

Best Citi Bank Current Account include:

  • Citi business current account

Yes Bank


Yes Bank, like other banks, offers a variety of current account alternatives. Edge Business, Prime Business, Exclusive Business, and Yes Head-startup account are some of the popular current accounts offered by Yes Bank. Yes, a head-startup account is highly recommended for new and small businesses. For the first year, there is no minimum balance requirement. Payment and collection via cheque, ATM truncation, net banking, and mobile banking are all available for free. New start-up entrepreneurs receive value-added specific services, including foreign direct investment advisory.

Yes, Bank offers three different types of current accounts. Edge, Prime, and Exclusive are the three options. The QAB can be anywhere between Rs. 10,000 and Rs. 2 lakh, with account fees ranging from Rs. 500 to Rs. 5000. You have the option to upgrade or downgrade your account type at any time. The online and mobile banking services, on the other hand, are inadequate.

Yes, Bank Current Account Options include the following:

  • Yes 3 tiered ( Edge/ Prime/ Exclusive) Business Current Account
  • Yes Premia Current Account
  • Yes First Business Programme
  • Yes Pragati Current Account
  • Yes Business Value Current Account
  • Yes Head Startup Current Account
  • Yes Xtra Gain (Edge/ Prime) Current Account
  • Yes TradeBiz Current Account

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Kotak Mahindra Bank

Kotak Mahindra

Kotak Mahindra Bank offers current accounts for various types of businesses, from start-ups to huge organizations. Kotak ActivMoney, an auto sweep and reverse facility that lets you earn interest on your current account, is included with all current accounts. An overdraft facility, payment gateway, cash management, and FX live services are also available. Kotak Mahindra Bank offers a service called Kotak Circle, which allows businesses to group together several current and savings accounts. This aids in the efficient use of funds and the preservation of account balances.

Kotak Mahindra Bank Current Account Options include the following:

  • Kotak Edge Current Account
  • Kotak Pro Current Account
  • Kotak Ace Current Account
  • Kotak Neo Current Account
  • Kotak Elite Current Account
  • Kotak Startup Premium Current Account
  • Kotak Astra 05 Current Account
  • Kotak Global Trade Current Account
  • Kotak Astra 15 Current Account
  • Kotak Startup Regular Current Account

RBL Bank

Top Rated Banks for Current Account in India

Almost all of RBL Bank’s current accounts provide loan options for short-term financing and working capital needs. A business loan, a small business loan, a loan against property, and an overdraft against property are among the options. The bank’s disadvantage is that it has fewer branches across India. As a result, RBL Bank offers low-cost doorstep banking in select cities.

RBL Bank Current Account Options include the following:

  • RBL Traders Current Account
  • RBL Value Silver 40 Current Account
  • RBL Value+ Gold 100 Current Account
  • RBL Value+ Gold 500 Current Account
  • RBL Exceed Business Banking – Exceed Global Extra, Exceed Express, Exceed Global Elite
  • RBL Business Current Account
  • RBL Business Plus Current Account
  • RBL India Startup Club Current Account
  • RBL Self Employed Professional Current Account

IDFC First Bank

IDFC First

Because of its reduced minimum balance requirement, IDFC First bank is a good choice for current account opening. Depending on the account type, the MAB ranges from zero to two lakhs. The monthly fees range from Rs.300 to Rs.3000. The only downside of this bank is that it has a small number of locations.

Baroda Small Business

For stores and enterprises managed by individuals, proprietors, and partnership firms, Baroda small business current is ideal. The disadvantage is that the current account is only available in metro and urban areas, and the annual turnover is limited to Rs. 20 lakhs.

Documentation Required to open Account in Top Rated Banks for Current Account in India

You must read the terms and conditions before submitting the application form, as well as the relevant papers. Banks typically demand the following documents:

  • All partners’ IDs and addresses proof.
  • Partnership deed  (in case it is a partnership firm)
  • Address Proof of the business/firm
  • Proprietorship  (GST Certificate)
  • PAN (Personal Identification Number)
  • Declaration in Form 60 and 61 according to the Income Tax Act
  • Copy of Business Registration
  • Memorandum of Association.
  • Certificate of Incorporation
  • Article of Association
  • A cheque for opening the bank account

To be more specific, the elements of a current account that distinguish it from a savings account or any other bank account are listed below.

  • Overdraft facility
  • Minimum account balance (MAB) that generally starts from ₹10,000
  • More free transactions allowed
  • Interest-free account
  • Unlimited withdrawal and deposit facility
  • Allows direct payments using DD,cheques and Pay Orders.


What is the best business bank account?

The ideal alternative for you is a business account that may supply you with all banking services at a cheaper MAB or QAB as well as fees and penalties. To locate the ideal fit, look into the current accounts offered by the aforementioned banks.

Which bank has a current account minimum balance?

Almost every bank has a requirement for a minimum monthly or quarterly average balance. However, some of the above-mentioned banks, such as SBI, IDFC, and Axis, have account types that do not require a minimum balance for a current account.

What is the best bank for a business account?

From the above-mentioned list, you can determine which bank is suitable for a business account based on your specific demands.

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