Kotak Privy Business Current Account

Every business has unique needs. Kotak Privy Business delivers unmatched flexibility, along with tailored solutions, seamless banking, and the agility to drive your business forward through every stage of growth.

Note: You can also enjoy Personal Banking benefits with Savings Account under Privy Business. To know more, click here.

List of Documents Required for Opening Current Account

Discover the essential documents needed to open a Current Account with Kotak Mahindra Bank. Ensure a hassle-free account opening by familiarising yourself with the required documents. Our curated list includes identification proofs, business-related papers, and more, catering to various entities like Sole Proprietorships, Partnership Firms, Hindu Undivided Families (HUF) and Public or Private Limited Companies. Simplify the Current Account opening process by having the necessary documents ready and enjoy a seamless experience.

Sole Proprietorship

Any two of the following documents as a proof of business/ activity in the name of the proprietary firm:

• Certificate/licence issued by the municipal authorities under Shop and Establishment Act
• CST/VAT/ GST certificate
• Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities
• IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT/ Licence/certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute
• Complete Income Tax Return (not just the acknowledgement) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax authorities
• TAN Allotment Letter issued by NSDL in the name of the firm
• Certificate/ License of Registration under any specific Statute/Act of the government
• Utility bills such as electricity, water, and landline telephone bills

Identity and Address of the Sole Proprietor:

• Passport
• Driving License
• Voter ID card
• Aadhaar card
• PAN card
• Letter issued by the National Population Register
• Link your Kotak Current Account with ERP & Accounting tools. Explore now

Partnership Firms

• PAN in name of Firm
• Partnership Deeds
• Registration Certificate or one government issued certificate confirming the name, address & activity of the firm
  • Certificate/licence issued by the municipal authorities under Shop and Establishment Act
  • CST/VAT/ GST certificate
  • Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities
  • IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT/ Licence/certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute
  • Complete Income Tax Return (not just the acknowledgement) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax authorities
  • TAN Allotment Letter issued by NSDL in the name of the firm
  • Certificate/ License of Registration under any specific Statute/Act of the government
  • Utility bills such as electricity, water, and landline telephone bills
• Partnership Declaration in bank format (to be signed by all the partners) 
• Proof of Identity & Address of Partners:
  • Passport
  • Driving License
  • Voter ID card
  • Aadhaar card
  • PAN card
  • Letter issued by the National Population Register

Limited Liability Partnership

• PAN in name of firm
• LLP agreement
• Certificate of Incorporation issued by the Registrar of Cos
• Resolution for Account Opening
• Beneficial owner information & KYC documents
• Identity & Address Proofs of Partners/Authorised Signatories:
  • Passport
  • Driving License
  • Voter ID card
  • Aadhaar card
  • PAN card
  • Letter issued by the National Population Register

Hindu Undivided Family/ Joint Hindu Family (HUF)

• PAN Card in name of HUF
• HUF declaration (duly signed by all the co-partners and naming the Karta, who would be authorised to operate the account.)
• Proof of ID, Address & Signature Proof of Karta
  • Passport
  • Driving License
  • Voter ID card
  • Aadhaar card
  • PAN card
  • Letter issued by the National Population Register

Public or Private Limited Companies

• PAN Card in name of company 
• Certificate of Incorporation 
• Certificate of Commencement of Business (only for limited companies incorporated under Companies Act 1956)
• Updated Memorandum & Articles of Association
• Board Resolution for Current Account on letterhead
• List of Shareholding pattern on letterhead
• Proof of Principal place of Business / Registered Office / Mailing Address
• Present list of names of Directors & Identity & Address Proofs of Authorised Signatory
  • Passport
  • Driving License
  • Voter ID card
  • Aadhaar card
  • PAN card
  • Letter issued by the National Population Register
• Beneficial owner information & KYC documents

Disclaimer – Kindly note that this is an indicative list (Existing)

Privy Business – Eligibility Criteria

• Can be opened as a single or joint account
• Initial deposit required: ₹5 Lakh
• Minimum Relationship Value(RV)* to be maintained: ₹10 Lakh

*The relationship value constitutes combined holdings of Current/Savings Accounts (Average Monthly Balances), Term Deposits, Value of present Mutual Fund holding and Life Insurances till date + 30% of sanctioned value of live loans (inclusions – Kotak Home Loan, Loan Against Property, Working Capital, Overdraft, Cash Credit, Business Loan, Healthcare Finance) + 30% value of month-end Demat holdings with Kotak Securities of the particular month with a linked Kotak Account.

Please note that Relationship Value is calculated at a group level. Only Mutual Funds (including structured products) subscribed through Kotak Mahindra Bank and Insurance policies bought from Kotak Mahindra Life Insurance sourced by Kotak Mahindra Bank will be considered.