Open a Current Account

 

Who Can Open a Current Account

(i) Any person competent to contract and satisfactorily introduced to the Bank may open an account in his/her own name. He/She may not open more than one such account. Accounts may be opened in the names of two or more persons and may be made payable to :

(a) any one or more of them.
(b) any one or more of the survivors.
(c) either or anyone or more of them or the survivors jointly, or survivor.
(d) 'former or survivor' or 'latter or survivor', subject to the condition that the second (first in the case of latter or survivor) named accountholder will be entitled to the balance lying in the account only on the death of the former (latter in the case of latter or survivor) accountholder.

(ii) Accounts can be opened for sole proprietorship firms, partnership firms, private limited and public limited companies, Joint Hindu families, trusts, clubs, associates etc. satisfactorily introduced to the Bank and on fulfilling laid down procedures and tendering required credentials.

(iii) Accounts can be opened by minors of 14 years and above, if able to read and write, in their sole names.

How to open a Current Account

(i) Application to open an account must be made in Bank's prescribed account opening form. All signatories are required to come in person to the bank to sign the account opening form. Required credentials depending upon the type of constitution of the prospective accountholder are to be submitted to the bank.

(ii) Each applicant will be required to sign a declaration to the effect that he has read and accepted Current Account Rules. A copy of the rules is displayed on the Notice Board.

(iii) A recent passport size photograph of every accountholder, proprietor / partners / Directors of the company / office-bearers / trustees and other officials authorized to operate upon the account, is required to be given to the bank.

(iv) The account is to be introduced by an existing current/cash credit accountholder having minimum six months old satisfactorily & actively conducted KYC Complied account with the Bank. 

Basic Common Documentation

  • Proof of Identity: PAN Card, Voter Id Card, Passport, Driving License
  • Proof of Address: Latest Telephone Bill or Electricity Bill

Public or Private Limited Companies

  • Certificate of Incorporation and Commencement of Business

  • Memorandum and Articles of Association

  • Board resolution authorising the opening and operation of the account

  • PAN or GIR No. or completed Form 60

  • List of Directors with residential addresses

Partnership Firms

  • Partnership Deed and Registration Certificate

  • Shop and Establishment Certificate

  • Letter from partners approving the persons concerned to open and operate the account

Proprietorship Concerns

  • Certificate from State Govt or Statutory Body or Trade License or Sales Tax Certificate or Shop and Establishment Certificate

  • Letter of proprietorship, duly signed by the proprietor in his or her individual capacity (with a rubber stamp)Hindu Undivided Family

  • Letter of HUF duly signed by Karta and all Co-Parceners

  • PAN or GIR No. or completed Form 60

  • Names of Karta and Co-parceners with residential addresses

  • Latest passport-size photographs of all the authorized signatories

Trusts

  • Copy of the trust deed

  • Copy of the registration certificate

  • Copy of the resolution by the trustees authorising the members concerned to open and operate the account

  • List of Trustees with residential addresses

  • Photographs of the members operating the account Associations or Clubs

  • Bye-laws of the association or club

  • Certificate of Registration

  • Copy of the resolution by the Board authorising the members concerned to open and operate the account

  • Photographs of the members operating the account