Quick Answer: What Is The Procedure To Open Current Account In SBI?

What are the procedures for opening a current account?

Documents required for opening a Current AccountPAN Card.Partnership Deed (in case of Partnership Firm)Certificate of Incorporation, Memorandum of Association and Articles of Association (in case of Companies)A Cheque for opening the Bank Account.Address Proof of the Firm/ Company/HUF.More items….

What is the procedure to open SBI net banking?

SBI Netbanking FAQsGo to SBI official net-banking website.Click on ‘New User Registration/Activation’Enter all the required details.Enter the OTP received on your registered mobile number.Submit and Activate.

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.

What are the documents required for current account opening?

Proof of identity of the proprietor/trader/professional/institution/association, etc. such as the PAN card. Additional documents for individuals include voter ID, passport, driving licence. Proof of address for an individual: Telephone bill, electric bill.

Is GST compulsory 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.

Is debit card necessary for NetBanking?

The requirement of debit card details to register to net banking was made mandatory for the sole purpose of security and to curb false transactions. … The users who do not have debit card/ATM card details, have to visit their bank branch to complete the process of registration for net banking.

What is the minimum balance 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

Does current account give interest?

Current bank accounts are operated to run a business. It is a non-interest bearing bank account. … There is also no restriction on the number and amount of withdrawals made, as long as the current account holder has funds in his bank account. Generally, bank does not pay any interest on current account.

How can I do net banking?

OnlineVisit the NetBanking registration page.Enter your customer ID and confirm your mobile number to generate an OTP.Enter the OTP.Select your debit card and enter details.Set your IPIN.Login to NetBanking using your customer ID and new IPIN.

Who are retail customers in SBI?

Retail customer means, an individual customer, who has his/her account in his/her own name. Other customers are called corporate customers. There is a separate Internet Banking Service for Individual Customer and for Corporate Customers.

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