The rise of complexity
in business model with increase in number of competitors followed by reduction
in profit margin forces businesses to cross its current business boundaries to
explore out station / out nation places to hold its ground.
Having said that, current account is a type of
account which would come handy while exploring new places and handling current
business requirements at the same time. If, we check various bank websites in
Indian such as www.icicibank.com, www.hdfcbank.com, www.axisbank.com etc, we will find that
various tailored made current accounts are available with the banks. These
tailored made accounts would definitely meet your expectations.
A current account can
be opened with maintenance of monthly or quarterly average balance of as low as
zero and can go up to Rs.50,000 or more depending upon the requirement. The
account allows you to deposit or withdraw cash from home branch or intercity
branch instantly. The CASH withdrawal limit can again go up to Rs.5,00,000 per
day. At par cheque leaves would be provided by the bank to help you make payments
to any city you want.
The best facility
provided under the head is that, you can link your account with overdrawn
facility. This provides you that extra working capital which would take you
further in going with the competition as it becomes very difficult to withdraw
you capital. Kotak Bank provides upto Rs50.00 lacs of overdrawn facility but
again based on your full financial conditions.
Other facilities
includes, phone banking, online banking, door banking, mobile alerts etc. which
would smoothen your day to day business operations.
The only catch in this
type of account is that, unlike savings bank account, current account does not
provide you any interest on any amount lying in your account.
Thus, to insure smooth
functioning of your day to day business and bank operations and to compete in
the current environment it is beneficial for any business to have a current
bank account.
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