Current Account
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Grow the smart way with a Kotak Current Account, specially designed for seamless transactions and effective financial management. Optimise your cash flow with our cash management services (CMS), simplify trade and foreign exchange transactions, and easily manage your tax payments. Make bulk payments using a maker-checker facility, enjoy contactless collections with a Kotak POS machine, access automated reports for hassle-free reconciliation, utilise our other services such as doorstep banking and do much more.
We understand that every business is unique, with its own set of requirements. That's why we provide curated solutions that are designed to meet your specific needs.
The process is straightforward and involves filling out a form and providing the necessary documents. There are two different methods to open a Current Account with Kotak Mahindra Bank:
Receive a call back:
In-Person Application:
For a Current Account, eligible businesses and constitutions are individuals, sole proprietorships, partnerships, limited liability partnerships, Hindu Undivided Families (HUFs), public/private limited companies, etc.
No, Current Accounts don't earn you interest. However, you can earn interest on the idle funds in your Current Account with the ActivMoney facility.
The minimum balance criteria for Current Accounts are different and usually depend on the account type you opt for. Selecting the variant that aptly meets your business needs and financial capabilities is essential to smoothly meeting the minimum balance requirement.
There are several types of Current Accounts. You can explore a diverse array explicitly crafted to cater to your business's unique needs.
Small businesses have unique requirements. At Kotak, our Pro Current Account's offerings are tailored to meet the specific needs of small and growing businesses.
Yes, Individuals can also open a Current Account.
Yes, it is possible to have multiple Current Accounts. One can dedicate each account to specific financial aspects, providing better control and financial management.
To open a Current Account, you need to provide key documents such as proof of business (e.g., GST registration, business license), identity proof (e.g., Aadhaar card, PAN card), address proof (e.g., utility bill, rental agreement) and business-related documents (e.g., partnership deed, MOA/AOA). They help validate your identity and establish the legitimacy of your business.
Yes, Kotak Bank offers an ATM card with Current Accounts, enabling you to withdraw cash, check account balances, and carry out banking transactions at ATMs across the country. This ensures easy access to your funds anytime and anywhere.
Kotak Bank provides multiple options for depositing cash into your Current Account. You can visit any branch for over-the-counter deposits, use cash deposit machines available at select locations or opt for electronic transfers like NEFT/RTGS. Additionally, you can deposit cheques or use wire transfers for seamless and secure transactions.
Irrespective of your business size or industry type, Kotak Mahindra Bank offers Current Accounts designed to simplify financial operations. Whether you need to manage POS transactions, process bulk payments, or handle seamless remittances, Kotak provides solutions that keep your cash flow smooth. With automated reconciliation and integrated tax payment services, businesses can stay financially organised while focusing on growth. Combining flexibility, security and digital convenience, we ensure that businesses have the right banking partner to scale effortlessly.
Yes, Kotak Bank’s Current Accounts support UPI transactions. This enables businesses to make and receive payments instantly, ensuring quick dues settlement and improved operational efficiency.
Kotak Bank Current Account holders can perform transactions through various methods, such as NEFT, RTGS, and IMPS, for electronic transfers. Traditional options such as issuing cheques are also available, along with online banking services through the mobile banking app and internet banking portal for 24/7 access to funds.
Kotak Bank offers customised bulk payment solutions, enabling quick and secure processing of salaries, vendor payments, and supplier settlements. With maker-checker approval workflows, businesses can authorise transactions efficiently with higher control and accuracy.
Yes, there are Kotak Current Account variants that support inward remittances, making it easy for businesses to receive international payments. With advance notifications for remittances and foreign exchange solutions, managing cross-border transactions becomes seamless.
Kotak offers multiple payment solutions, including POS terminals, QR code payments and doorstep banking for cheque collections. Businesses can also integrate automated reconciliation services to track and manage payments conveniently.
The transaction limit for a Current Account depends on the type of account you choose. Kotak Bank offers accounts with higher transaction limits, ensuring businesses can handle large volumes of transactions effortlessly.
Yes, money transfers from a current account can be made online through mobile banking, internet banking, or UPI. Kotak Bank ensures secure and convenient transfers to streamline your business operations. You can also transfer funds by submitting a request at the nearest branch.
