5 benefits of having a current account with low fees

Posted on Friday, October 13th, 2023 | By Indusind Bank

A current account is a basic bank account that serves the needs of businesses, entrepreneurs and individuals with regular financial transactions. In India where the economy is rapidly evolving and business activities are thriving, having a current account is essential for managing finances efficiently. Current accounts usually carry a operating charges and also encompass a high minimum balance requirement. While there are various types of current accounts available, opting for one with low fees can provide numerous advantages. Let’s explore the 5 benefits of having a current account with low fees in India.

1) Cost-effective and tailored banking solutions

A current account with low fees offers cost-effective banking solutions for businesses and individuals alike. By minimising account maintenance charges, transaction fees and other related expenses, you can save a significant amount of money over time. This is particularly beneficial for startups and small businesses that are looking to optimise their operational costs.

Many financial institutions offer tailored banking solutions to account holders with low-fee current accounts. These solutions can include overdraft facilities, business loans and even credit lines that cater specifically to the financial needs of businesses and individuals. Such customised solutions can empower you to achieve your financial objectives while keeping your costs under control.

2) Enhanced financial management

Low fees associated with a current account allow you to manage your finances more effectively. With reduced expenses, you can allocate your resources to more productive areas such as investing in growth opportunities, expanding your business or building personal wealth.

3) Flexible transaction options

A current account with low fees typically comes with flexible transaction options enabling you to perform a variety of transactions without incurring high costs. This flexibility includes the ability to make multiple transactions, transfers and payments which is crucial for businesses that need to manage their cash flow efficiently. Low fees encourage active use of the account without the fear of overspending on transaction charges.

4) Access to digital banking services

In the digital age, access to online banking services is paramount. Current accounts with low fees often provide access to comprehensive digital banking platforms that allow you to perform transactions, check balances, view statements and even initiate international transactions from the comfort of your home or office.

IndusInd Bank Current Accounts offers a variety of digital services including Soundbox, QR, POS devices and payment gateway solutions for cashless payments. These digital services enhance convenience and save time enabling you to focus on your core activities.

5) Support for growing businesses

For businesses, a current account with low fees can be a valuable asset during periods of growth. As business activities expand and the volume of transactions increases, low fees ensure that the cost of managing financial operations remains reasonable. This is crucial for sustaining growth momentum and preventing unnecessary financial burdens that could hinder expansion.

Further, these accounts often come with user-friendly interfaces and dedicated customer support making account management a hassle-free experience. You can easily monitor your transactions, set up automatic payments and receive real-time alerts for account activity. This level of convenience ensures that account holders are always in control of their financial activities and can promptly address any concerns.

Now that you have understood the benefits of having a current account with low fees, you should explore an account that offers the best advantages to your business and helps it grow. Take a look at IndusInd Bank’s Current Account offering.

Indus Tarakki Current Account

Indus Tarakki Current Account is one of the best current accounts especially designed for retailers, merchants and traders. It offers seamless digital collections through merchant solutions like QR codes, POS, UPI, payment gateway etc. Following are some of the key benefits of this account:

• Anywhere free cash withdrawals
• Free Visa Gold Debit Card
• Anywhere free cash deposit up to Rs. 5 lakhs per month
• Free DD/PO up to Rs. 50 lakhs payable at IndusInd branch locations
• Free NEFT/RTGS/IMPS for seamless payments
• Free 50 cheque leaves per month

You cannot deny that the Indus Tarakki Current Account is truly a low-fee current account that can provide you with all the aforementioned benefits.

In a nutshell

Having a current account with low fees in India offers a range of significant benefits for businesses and individuals alike. From cost-effective banking solutions and enhanced financial management to access to digital banking services, these accounts are designed to streamline your financial operations and support growth. As the financial landscape continues to evolve, opting for a low-fee current account is a prudent choice that can contribute to a more efficient and successful financial journey. But, choosing the right financial institution and the right type of current account is important. Like savings accounts, current accounts also come with different options.

IndusInd Bank understands the needs of each business and offers an array of current accounts that suit each business’s needs. Each account comes with different features allowing you to choose the one that is ideal for your business. Some of the features of the best current accounts with IndusInd Bank include:

• Dynamic cash deposit limits
• Low trade charges
• Grouping of accounts
• Auto sweep deposit
• Preferential foreign trade charges
• Complimentary airport lounge and golf access

Are you still stuck with conventional current accounts? Apply now for an IndusInd Bank 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.