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Why Is a Current Account the Best Way to Bank for Indian Startups?
Posted on Sunday, October 31st, 2021 | By IndusInd Bank
You know that running your startup needs you to have a solid financial foundation. Without the right bank account, it’s near impossible to conduct your business’ financial transactions. A current account is specially designed to help businesses transact with ease and ultimately grow.
Although similar to a savings account in many aspects, the purpose of a current account is different. If you run a startup, know that this account is exclusively meant for carrying out regular transactions. Be it paying your employees, paying your vendors, or conducting other operational transactions, a current account is crucial for your startup.
Keep reading to learn why you need one for your venture.
Unlimited Transactions
When you run a startup, you deal with financial transactions day in and day out. This could include expenses such as salaries, issuing cheques, clearing invoices, and much more. Sometimes, you may even need to make bulk payments. Hence, you need a bank account that imposes no limits on transactions so you can run your operations without any hiccups.
While other types of accounts will not allow you to do so, current accounts are designed to handle frequent transactions and those in bulk. IndusInd Bank’s feature-rich Indus Max Current Account is designed for new businesses to transact with ease, no matter the volume.
A Safe Way to Transact
Running a business means you must pay your employees and conduct frequent transactions with your clients and vendors. Especially when you have to make large transactions, safety becomes key. When you operate a current account for your startup, the bank constantly monitors all activity. In fact, it also tracks any suspicious activities and flags transactions out of the ordinary. This means your business’ finances are always protected.
Additional Perks and Privileges
When you open an Indus Max Current Account, you enjoy a variety of benefits on top of regular banking facilities. For instance, you only need to maintain an average monthly balance of Rs. 10,000, a feature that is especially valuable for startups with erratic cash flows. Our current account also brings you other benefits like anywhere cash deposit limits, free NEFT RTGS & IMPS, auto-sweep deposit facility, grouping of accounts, and much more to help your business flourish!
Over to You
Lose no time in opening a current account for your startup. Choose IndusInd Bank for a smooth banking experience and a world of privileges.
You can open a current account online with IndusInd Bank if your startup falls into one of these categories:
- Sole Proprietorship
- Partnership
- LLC/LLP
- Trust/Association/ Club/Society
So, what are you waiting for? Get IndusInd Bank current account today and grow your startup at scale!
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own 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 taking any financial decisions based on the contents and information.
