Open a Zero Balance Current Account

A zero balance current account allows you to carry out banking activities like transactions, withdrawals, and transfers without maintaining a minimum balance. This type of current account could be ideal for professionals or businesses that require flexibility in terms of financial services. 

 

Most banks require you to maintain a minimum balance of ₹10,000 or more in current accounts. Typically, these accounts do not provide any interest on your deposits, unless specified otherwise.

Here are some eligibility criteria you may have to fulfil to open a zero balance current account:  

• Resident individuals

• Sole proprietorship firms

• Partnership firms

• Private and public companies

• Hindu Undivided Family (HUF)

 

To open a zero balance current account, you may also be required to submit certain documents. These may include: 

• Photographs: 2-3 latest passport-size photographs

• Identification Proof: Aadhaar Card, PAN Card, Passport, and Driver’s Licence

• Address Proof: Utility bills, bank statements, and rental agreements

• Business Documents: Certificate of Incorporation, Article of Association (AOA), Memorandum and Articles of Association (AOA), Partnership Deed, and GST number 

• KYC Form: Know Your Customer (KYC) form provided by the bank

Note: The eligibility parameters and documents required for account opening may vary across banks.

Here are some steps you may be required to take while opening a zero balance current account online:

1. Visit the official website of the bank

2. Navigate to the account opening section and download the application form

3. Carefully fill in your personal and business details  

4. Submit the application form with the required KYC documents

 

Once done, the bank will verify the information and notify you once your account is opened. Alternatively, you could visit the nearest bank branch and open an account. 

Note: The account opening process (online and offline) may vary between banks.