A step-by-step guide to opening a current account without any bank visits

Posted on Friday, December 29th, 2023 | By IndusInd Bank

In the modern digital era, banking has evolved to become more accessible and convenient than ever before. Opening a bank account and availing financial services has never been so easy and IndusInd Bank is here to simplify your financial journey by providing a hassle-free way to open a current account online. This step-by-step guide will walk you through the process, ensuring you have all the information you need to open a current account without visiting a bank branch.

Understanding a current account

Before we dive into the process of opening a current account online, it is essential to understand what a current account is. A current account is a type of bank account designed primarily for businesses, professionals, and self-employed individuals. It provides features like simple fund transfers, overdraft options, and unlimited transactions. With IndusInd Bank Current Accounts, you get additional benefits such as easy access to business loans and specialised services such as:

• Dynamic cash deposit limits and higher transactional limits on digital platform
• Auto sweep with fixed deposits
• Business debit cards and efficient cheque collection services
• Doorstep banking and cash management services
• Trade and forex services

In addition, you get an all-in-one Indus Merchant Solutions app to manage your business transactions anytime, anywhere. IndusInd Bank Current Accounts are straightforward to open, convenient to use and offer efficient payment collection solutions through IMPS, RTGS, NEFT, and UPI.

How to open a current account online – A step-by-step guide

With digital advancement in the banking sector, accessing banking services has become effortless and hassle-free. And opening a current account online with IndusInd Bank is an even more straightforward process. Follow these steps to get started:

• Step 1: Visit the IndusInd Current Account section: Navigate to the IndusInd Bank Current Account page. You will find a user-friendly interface that makes it easy to proceed further.
• Step 2: Choose the right current account: IndusInd Bank offers a variety of current accounts tailored to different business needs. Browse through the options and select the one that suits your requirements.
• Step 3: Click ‘Apply Now’: Once you have chosen the appropriate current account, click on the ‘Apply Now’ button. This will initiate the application process.
• Step 4: Fill in your details: You will be prompted to fill in your personal and business details. Ensure all information is accurate and up to date.
• Step 5: Upload required documents: To verify your identity and address, you will need to upload certain documents. We will discuss these documents in detail in the next section.
• Step 6: Review and submit carefully: Review the information you have provided and double-check for any errors. Submit your application after ensuring the information is accurate.
• Step 7: Account confirmation: After submitting your application, you will receive an email confirmation from IndusInd Bank. This will contain details about your current account application status.

Whether you are a freelancer or a small to medium enterprise owner, a current account is the most suitable option to meet your business requirements. Understanding your needs, IndusInd Bank offers an Indus Tarakki Account that comes with unique features like free cash deposit limits of up to ₹5 lakhs per month, and digital payment collection through POS/Payment Gateway/QR code/UPI. You can open an Indus Tarakki Current Account instantly using our net banking service or through the Indus Mobile App. Explore More!

Documents required for opening a current account

To successfully open a current account online with IndusInd Bank, you will need to provide specific documents. Here’s a list of the tentative documents depending on the type of applicant:

• Sole proprietorship
  • Two documents for the entity’s name
  • Address proof of the entity
  • Document of the proprietor – (PAN copy, photo and 1 OVD document copy)
• Hindu Undivided Family (HUF)
  • PAN card issued for HUF
  • Karta’s PAN card
  • Karta’s officially valid documents
  • Declaration: HUF
  • HUF KYC is required for address proof
• Partnership
  • Deeds of partnership
  • Declaration of partnership firm
  • Copy of PAN card of entity
  • Address proof of the entity
  • OVD copy of the partners / authorized signatories / beneficial owners (including latest photograph and copy of PAN card)
• Limited Liability Partnership (LLP)
  • LLP agreements since inception
  • Incorporation of Certificate
  • LLP Firm Declaration
  • Latest list of designated partners
  • Copy of PAN card of the entity
  • Entity’s address proof
  • OVD* copy of the partners, designated partners, authorised signatories, beneficial owners (including latest photograph and copy of PAN card )
• Company (Public Limited & Private Limited)
  • Memorandum of Association (MOA) and Articles of Association (AOA)
  • Incorporation Certificate
  • Resolution of the Board
  • List of directors (Latest)
  • Copy of PAN card
  • Entity’s Address Proof
  • OVD copy of the directors, authorized signatories, beneficial owners (including latest photograph and copy of PAN card)
• Official Valid Document (OVD)
  • Passport
  • Voter’s card
  • Driver’s license
  • Proof of possession of Aadhar number,
  • NREGA job card duly signed by an officer of the state government
  • Letter issued from National Population Register containing details of name, address

Ensure that all documents are scanned or photographed clearly for a smooth application process.

Final thoughts

By following the step-by-step guide and providing the necessary documents, you can have your current account up and running in no time. Opening a current account online with IndusInd Bank is a convenient and efficient way to manage your finances without the need for any physical bank visits. We understand that your time is valuable, and our online application process is designed to make banking as effortless as possible.

Experience the ease of modern banking with IndusInd Bank and take a step towards a more convenient financial future. Start your journey today! Open a Current Account Now!

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.