October 16, 2024 - Page 2 of 2 -

Small and Medium Enterprises (SMEs) are the backbone of the economy, as they help in driving innovation, employment, and growth. These businesses need the right tools to manage their finances and support their growth efficiently. Indus Select Current Account by IndusInd Bank is one such useful tool that helps businesses simplify their financial operations, manage cash flow, and conduct transactions smoothly.Let’s go through the steps to open a current account online, the documents needed, and the multiple benefits of these business accounts for SMEs.Documents Required to Open a Current AccountThe following are the most common documents required to open a current account online for SMEs:IndividualPAN cardGST certificate (More than three months old)Aadhaar card (should be linked with mobile number)Sole ProprietorMandatory documents:PAN cardAadhaar card (should be linked with mobile number) GST certificate (More than three months old)Any of the following:Udyam registration certificateShop & Establishment certificateFSSAI certificate ICAI certificateICSI certificateICWAIImport Export CodeMCI certificateTax identification numberSteps to Open a Current Account for SMEFollow these detailed instructions to open a current account from the comfort of your home:Apply online: Click on the Apply Now option on IndusInd Bank’s website. This action directs you to the application form. You can also download the Indus Merchant Solutions App, available on both Android and iOS platforms, to proceed with the application.Enter contact details: Input your basic contact information, such as your email, location, and phone number. This step ensures that the bank can reach out to you for any further requirements or notifications.Provide business details: Fill in details about your business such as the name, type of business entity, nature of business activities, and operational years.Choose product/current account variant: As you browse the best business bank accountslist, be sure to select the Indus Select Current Account. It offers a range of banking services suitable for businesses of different sizes.Submit personal details: Provide personal information about the business owners and authorised signatories.Review application: Before submission, review all the details you have entered for accuracy. Now, submit the application.Note that you may also have to complete a digital video KYC verification for the entity and authorised signatories. After completing the verification and any additional formalities, yourcurrent account will be activated and ready for use.Also Read: Best Practices to Secure Your Current AccountBenefits of the Indus Select Current Account for SMEsThis current account benefits SMEs in multiple ways, including:Dynamic cash deposit limitYou can deposit up to eight times your previous month’s average balance or ₹20 lakh, whichever is greater, without incurring extra feesWaiver on outward cheque return chargesEnjoy a waiver on charges for the first five outward cheque returns each monthAuto-sweep facilitySet a threshold and automatically convert surplus account balances to fixed deposits, where they earn interestGrouping of accountsYou can extend the program benefits to family members and associated businesses without needing to maintain additional balancesDoorstep banking servicesEnjoy complimentary cheque and cash pickup/delivery services right at your doorstepCurrent Account for SMEs | A Must-Have Business ToolYou can open abusiness bank account for your SME instantly without any hassle. All you have to do is gather essential documents, apply online, provide contact details, choose the current account type, enter personal details, submit your application, and complete the digital video KYC verification.Most importantly, consider the Indus Select Current Account, which is exclusively designed for businesses. Benefit from a 100% online application process, premium digital features, interest on surplus funds, and other customised services.Apply now!Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information. Share This:

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Daily Archives: October 16, 2024

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