June 20, 2024

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How to open your zero-balance current account?

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balance current account


Nowadays, it is easy to open your zero-balance current account. However, it is important to open your current account with no minimum monthly balance needed or hidden fees.

In this article, we are going to tell you about zero-balance current accounts and the requirements associated with them.

What is a zero-balance current account?

A current account is considered a financial deposit account that allows you to make limitless transactions. The current account is different from a savings account because it does not offer interest on your balance.

Usually, entities and business people like private and public companies, proprietors, and partnership firms can open their current accounts.

Monthly average balance

The monthly average balance indicates the number that is arrived by adding the close balance at day end of the month and dividing by the number of total days under consideration.

The monthly average balance differs from one bank to another. You do not need to maintain the minimum monthly balance if you have a zero-balance current account.

How to open zero balance current account

To open the zero-balance current account, you have to submit your KYC documents and complete your account opening form.

  • First, you need to visit the bank’s official site where you want to open your current account.
  • Tap on the zero-balance current account opening
  • Fill in the details in the personal and account details section.
  • Upload your KYC and ID documents section.
  • Submit your filled application.

Once your application is submitted, your documents will be verified and approved after checking the information from the bank.

Benefits of zero-balance current account

There are various benefits to opening your zero-balance current account. If you want to open it, you can get the following benefits.

  • You can easily carry the financial transactions without maintaining the minimum monthly average balance.
  • These accounts permit business owners to get a great level of flexibility with working capital.
  • Business owners do not need to worry about erratic cash flows with current accounts.
  • Small and medium-sized businesses have longer debt collection time if they have a current account.

Eligibility to open zero balance current account.

To become eligible for a zero-balance current account, you have to meet the following eligibility criteria.

  • Public or private company
  • Soles proprietor
  • Trust
  • Residential individual
  • Hindu undivided family

Documents you need to open your zero-balance current account

The documents you need to open your zero-balance current account vary with the bank, and you need to upload the

Identity proof

  • Aadhar card
  • PAN card
  • Passport
  • Driving license
  • Voter ID

Address proof

  • Utility bill
  • Passport
  • Ration card
  • Bank statement
  • Driving license
  • Rental agreement


  • Passport size photos


For business owners, having a current account with zero balance is essential.Consider your initial business demands before opening your zero-balance current account.

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