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Benefits Of SBI Current Account For Start-ups

benefits-of-sbi-current-account-for-start-ups

State bank of India, one of the largest state-owned public sectors, strives hard to offer SBI current account to its esteemed customers. SBI has and is playing a vital role in delivering various kinds of products and services to the people and businesses.

If you talk about SBI current account, it is opened by businessmen for their regulated income from the business. It is a type of demand deposit that offers unlimited transactions which solely depend upon the balance that is maintained in the current account.

SBI current account is opened by entrepreneurs and professionals who always deal with large transactions in day to day basis in terms of business. In general, if you talk about the eligibility criteria for opening SBI account, it is effortless and straightforward. This means you have to be an Indian resident, must be sole proprietorship firm, private or any limited company, can be trust or association, and must own limited liability partnership firm.

SBI current account plays an essential role in making the economy of the nation healthy and wealthy.

So, before you opt to open a current account with any other bank, have a look at the features of SBI current account. Let’s get started: –

  1. Needs very less minimum balance for opening a current account.
  2. Based on the credit history of the business account overdraft facility is also available.
  3. All the ATM transactions are free of cost in the first year, and on an annual basis, few money is charged annually.
  4. If the owner what monthly installments, he/she can obtain quickly.
  5. SBI current account can be easily transferred to any other SBI branch free of cost.
  6. One-time KYC is needed while opening an account.
  7. Nominations are also available with account.
  8. To the business owner, SBI will offer multicity cheque books for the need.
  9. Standing instructions are also available after opening account.
  10. Interest is not paid on deposits.

However, SBI current account delivers different types of current accounts to the clients, which is based on the profile of the businessmen. Different types of current accounts are: –

  • Normal current account
  • Power gain current account
  • Powerpack current account
  • Power POS current account
  • Surbhi current account
  • Power Jyoti current account
  • Power Jyoti Pul Current Account

So, if you want to open a current account with SBI, then the applicant can apply for it by visiting SBI bank of their city personally or via online facility through its official website. In the online application, the bank will ask for some personal information like the name of the applicant, age, business type, etc.

Next, after submitting the online form, the bank staff will contact the applicant within 24 hours after submitting it.

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