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  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.

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Current Account

Strengthen and grow your business with an IDFC FIRST Bank Current Account.

Taking the right decisions is crucial for the success of your business. Choosing IDFC FIRST Bank’s Current Account is one of them. Among the best current accounts for businesses in India, it’s the first step towards attaining the business growth you’ve always dreamed of.Read More

With an IDFC FIRST Bank Current Account, you gain access to multiple features and benefits. Take advantage of an integrated Internet and Mobile Banking Platform with attractive features, such as Trade Forex Solutions, GPS-enabled Doorstep Banking, Payment and Receivable Solutions, and much more, all at your behest. We are also transparent about our Current Account fees & charges. No surprises, no shocks!

So, go ahead and open a Current Account online to secure your business growth with IDFC FIRST Bank.Read Less

                                                      Benefits of the IDFC FIRST Bank Current Account

100K World Business Account

100K
Current Account

Make the most of the amazing perks that come with this category, including:

  • Free cash deposit limit: ₹12 Lakh per month
  • Free Visa Signature Card
  • Free 300 cheque leaves per month
  • Free DD issuance
  • Free 25 ATM transactions per month
  • ₹1 Lakh AMB requirement
50K World Business Account by IDFC FIRST Bank

50K
Current Account

Select this as your account type to avail great benefits, such as:

  • Free cash deposit limit: ₹6 Lakh per month
  • Visa Signature Card
  • Free 200 cheque leaves per month
  • Free DD issuance
  • Free 15 ATM transactions per month
  • ₹50K AMB requirement
25K World Business Account

25K
Current Account

Enjoy a host of benefits with this account, including:

  • Free cash deposit limit: ₹3 Lakh per month
  • Free 50 cheque leaves per month
  • Free 10 ATM transactions per month
  • Visa Platinum Card
  • Free DD issuance
  • ₹25K AMB requirement
10K Current Account

10K
Current Account

Choose this account and start strong with benefits like:

  • Free cash deposit limit: ₹2 Lakhs per month
  • Visa Platinum Card
  • Free 25 cheque leaves per month
  • Free DD issuance at Bank Branch Locations
  • Free 5 ATM transactions per month
  • ₹10K AMB requirement

Dynamic Current Account for Professionals

Open a current account online and take your business forward with:

  • Cash deposit limits at 10X the AMB
    Cash deposit limits at 10X the AMB
  • Free 8 DD issuance
    Free 8 DD issuance
  • Free 250 cheque leaves per month
    Free 250 cheque leaves per month
  • Eligibility - For Doctors, Lawyers, Architects, CA/CS/CMS basis valid membership certificate/license
    Eligibility - For Doctors, Lawyers, Architects, CA/CS/CMS basis valid membership certificate/license
  • Nil AMB requirement*
    Nil AMB requirement*
Dynamic Current Account for Professionals

 

Things to keep in mind while opening your Current Account:  

◉ Compare and select the right Current Account variant suited to your business requirements. To find a product that’s right for you, click here

◉ Check out the Schedule of Charges and compare the transaction fee of various banks

◉ Look for Anywhere banking/non-home branch transaction limits and charges

◉ Choose you Current Account with a bank that extends important services required for smooth functioning of your business viz. Online Banking, Doorstep Banking, Collection Solutions (POS/Payment Gateway/UPI-QR) and Payment Solutions (NEFT/RTGS/IMPS/Statutory Payments like GST, Tax/API Banking/Bulk Payment) and lending requirement like Business Loans/Overdrafts

◉ Ensure your bank provides additional security features to prevent fraudulent cheque payments (Positive Pay Service)

◉ Understand the documentation required for opening a Current Account, which may vary based on your business type viz (Sole Proprietorship, Partnership, LLP, Company, OPC, TASC, HUF etc.)

◉ Evaluate the personalized services on offer, if any, such as dedicated Relationship Managers, easy communication lines, etc., before opening a Current Account, in order to make the right choices for your business

Eligibility

Who can apply?

Anybody who meets any of the following requirements can apply:

  • Individual
  • Hindu Undivided Family (H.U.F.)
  • Sole proprietorship
  • Partnership
  • Limited Company/Limited Liability Partnership

Documentation

Sole proprietorship

  • 2 documents in the name of Entity
  • Address proof in the name of entity
  • Proprietor Document – (Photo, PAN copy and 1 OVD document copy)
  • Nature of Industry proof (In case not indicative in Entity documents, please check for Invoice Copy, Bill of Entry, Freight Invoice, Agreement Copy)

Partnership

  • Partnership Deeds
  • Partnership Firm Declaration
  • Entity PAN card copy
  • Address Proof in the name of the Entity
  • OVD copy of the Partners / Authorised Signatories / Beneficial Owners (Including Latest Photograph and PAN card copy)

Read More

Current account eligibility

FEES & CHARGES

Find out about our minimal and transparent fees & charges

View Fees & Charges

fees and charges

FREQUENTLY ASKED QUESTIONS

What is a Current Account?

A Current Account is an account that is used by business enterprises or self-employed professionals to carry out business-related transactions. It allows businesses to carry out a higher number of transactions daily.

Who can apply for a Current Account?

Anyone who meets any of the following requirements can apply:

- Self Employed Professionals

- Hindu Undivided Family (H.U.F.)

- Sole Proprietorship

- Partnership

- OPC / Private Limited Company

- Limited Liability Partnership

How do I open a Current Account?

You can open an IDFC FIRST Bank Current Account by visiting your nearest bank branch or click here to apply online.

What are the documents required for opening a Current Account?

The documents required to open a Current Account are based on your constitution type. Click here to view the list of documents.

Do IDFC FIRST Bank Current Accounts earn interest?

Yes. With BRAVO feature, you can enjoy interest on all MSME Current Accounts. BRAVO feature allows you to set up an Auto Sweep into FD limit, with no penalty on premature FD breakage. Click here to know more about the ‘BRAVO’ feature for Current Account

What is the minimum Average Monthly Balance (AMB) required to be maintained in the IDFC FIRST Bank Current Account?

Minimum Average Monthly Balance (AMB) requirement is as per the Account variant you choose. Refer the table below:
 

Name of Product Minimum Monthly Balance Requirement
Current Account - 1Lakh ₹1 Lakh
Current Account -50K ₹50K
Current Account- 25K ₹25K
Current Account - 10K ₹10K
Customisable CA- 50K ₹50K

What is an Average Monthly Balance?

The average monthly balance is calculated by taking the average of end of the day/ daily closing balances in your Current Account, in a given month. E.g., For a 31-day month, the average is calculated by adding the closing day balances for all the days in the month and dividing it by 31.

What are the benefits of having an IDFC FIRST Bank Current Account?

 

After opening a Current Account with IDFC FIRST Bank, you can avail of below benefits:

- State-of-the-art Mobile Banking App & Net Banking platform

- Bank from anywhere, across any branch, at ZERO charges

- Seamless POS, QR & Payment Gateway facility

- Doorstep Banking Service - Free document & cheque pickup

Which Current Account is recommended for professionals?

Dynamic Current Account is recommended for below mentioned professionals subject to submission of valid membership certificate/license:

- Doctors

- Lawyers

- Architects

- Chartered Accountant (CA)/ Cost Accountant/ Cost and Works Accountant (CWA)

What are the fees and charges on IDFC FIRST Bank Current Account?

IDFC FIRST Bank has minimal and transparent fees & charges. Click here to view.

Can I deposit or withdraw cash in any IDFC FIRST Bank branch?

Yes, every Branch is a Home Branch with IDFC FIRST Bank which means you can get banking service like cash deposits or withdrawals at any IDFC FIRST Bank branch in the country. These services are provided without any additional charges.

What are the digital modes through which I can access IDFC FIRST Bank Current Account?

Current Account can be accessed through the following digital modes:

- Internet Banking & Mobile Banking

- 24x7 Banker on Call 1800-10-888

- Alerts through Email and SMS

- WhatsApp Banking & Bitly Banking

What all Beyond Banking offer will I get with my Current Account?

IDFC FIRST Bank Beyond Banking offers premium banking services with 100+ partners. You can benefit from 150+ offers across ERP &Accounting, HRMS Solutions, Legal, Logistics, Travel & more.

Click here to view the Beyond Banking offers.

What is the digital Payment & Collection solutions available for my Current Account?

Below are some of the digital payment and collection solutions available with IDFC FIRST Bank Current Account:
 

Payment Solutions Collection Solutions
NEFT/RTGS/IMPS UPI-QR
Debit Cards POS Machine
E-commerce payments using Net Banking Doorstep Banking services with live tracking facilities
Bill Payments Payment Gateway
Bulk transaction facility on Net Banking Virtual Accounts
GST/Direct Tax Payment Collection API
Payment API NACH/e-NACH

What are the Trade & Forex solutions available with the Current Account?

Below are the Trade & Forex solutions available to facilitate your international business requirements:

- Letter of Credit

- Bank Guarantee

- Document Collection

- Inward & Outward Remittance

- Hedging and Currency Protection

- FDI/ ODI/ ECB

- Escrow Services

More FAQs

Whatsapp Banking

 

Through WhatsApp Banking, you can interact with us just like you would with any of our representative

 

Numbers to connect: 95555 55555

Current Account Blogs

current account

FEATURED

All you need to know about current account

Current accounts can help in managing the finances for your business. Read the following article to learn more about current accounts.

Team FinFIRST19 Oct 2023 • 3 mins read

Read Full Story

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