What Is The Minimum Balance For Current Account In SBI?

Is GST number mandatory for current account?

Bank account details can be added later vide amendment of non-core field.

Therefore, Current Account is not compulsory for GST Registration.

And, you can use either saving account or Current account to register for GST in India..

Which is best bank for current account?

Best Bank for Current Account in India 2020#1. ICICI Bank Current Account (For Best Technology)#2. HDFC Bank Current Account (For Best Products)#3. IndusInd Bank Current Account (Lower AMB yet Great Features)#4. Axis Bank Current Account.#5. Citi Bank Current Account (For Global Business)#6. State Bank of India Current Account (Widespread Reach)#7. … #8.More items…•

What are the documents required for current account?

Documents Required to Open a Current Bank AccountDuly Signed Application Form with a Photograph.Identity Proof like copy of PAN Card and Aadhaar Card of all directors or partners.Address Proof like telephone bill or electricity bill.A cheque for opening current bank account.

What is minimum balance in current account?

Current Account Monthly Average Balance and Withdrawal Limit 2020BankMinimum Average BalanceHDFC Bank Regular Current AccountRs.10,000 per quarterBank of Baroda Baroda Small Business Current AccountQuarterly Average Balance Rs. 2,500SBI Regular Current AccountRs. 10,000Axis Bank Normal Current AccountRs. 10,0002 more rows

Is SBI good for current account?

5000. 0.5 4.0/5 “Great!” I have a current account with SBI from last 2 years, the banking services are good in this bank. … I have to maintain Rs 10000 as minimum balance in this account.

What is minimum monthly balance?

Monthly Average Balance (MAB), also known as the minimum average balance is nothing but the minimum amount you are required to maintain in your Savings Account every month. The figure is calculated at the end of each month and failure to maintain this minimum average balance will result in penalties.

Does current account give interest?

Features of Current Bank Account It is a non-interest bearing bank account. It needs a higher minimum balance to be maintained as compared to the savings account. … Generally, bank does not pay any interest on current account. Nowadays, some banks do pay interest on current accounts.

What are the charges for current account?

Upto Rs. 10000: Rs. 2.50/- + GST.Above Rs 10,000/- and upto Rs 1.00 lakh : Rs 5/- + GST.Above Rs 1.00 lakh and upto Rs 2.00 lakh: Rs 15/- + GST.Above Rs 2.00 lakhRs 25/- + GST.

What is the minimum balance required in SBI current account?

SBI Current Account Minimum Balance and ChargesSBI Current AccountSBI Current Account Minimum BalanceNon Maintenance ChargesRegular Current AccountRs. 10,000Non Rural – Rs. 5,000 Rural – Rs. 2,500

What is SBI current account?

A current account is a type of demand deposit account which provides unlimited transactions depending upon the balance maintained in the account. … A current account can be opened by entrepreneurs and professionals who deal with large transactions on a regular basis.

Can I open zero balance current account?

A zero balance current account can be opened in any commercial or non-commercial bank. One can choose from the list of top banks providing zero balance current accounts. The user needs to submit all the KYC acceptable documents along with the current account opening form at the nearest bank branch.

How can I know my SBI current account balance?

A. Account-holders can SMS “BAL” to 09223766666 from their registered mobile number for instant SBI Balance Enquiry. For SBI Mini Statement, account holders can SMS “MSTMT” to 09223866666.