HDFC Bank Current Account – Features, Benefits & Application Guide

Rahul, the owner of Digital Edge Solutions, faced difficulties managing his ₹5,00,000 monthly turnover using a personal savings account. Transaction limits, high charges, and manual expense tracking were causing inefficiencies. After learning about HDFC Bank’s Current Account, he decided to switch and saw a significant improvement in his cash flow management.

Rahul’s Monthly Expense Breakdown Before & After Opening a Current Account

With his new HDFC Bank Current Account, Rahul eliminated unnecessary banking charges, improved cash flow management, and streamlined his business transactions, ultimately helping him focus on expanding his agency.

Types of HDFC Bank Current Account

HDFC Bank offers a diverse range of 19 Current Account options, catering to businesses of all sizes—from startups to large corporations. Each account is designed to provide tailored banking solutions, ensuring seamless financial management.

1. Max Advantage Current Account

2. Ascent Current Account

3. Activ Current Account

4. Plus Current Account

5. Premium Current Account

6. Regular Current Account

7. Vyapar Current Account

8. Startup Current Account

9. Saksham Current Account

10. e-Commerce Current Account

11. ESCROW Account Solutions

12. Current Account for Professionals

13. Agri Current Account

14. Institutional Current Account

15. RFC- Domestic Account

16. Exchange Earners Foreign Currency(EEFC) Account

17.CSR/Unspent CSR Account

18. Regular Collection Account

19. RERA Current Account

Types of HDFC Bank Current Accounts & their Features

HDFC Current Account Fees & Charges

To learn more about the fees & charges of the HDFC Bank Current account, click here 

HDFC Bank Current Account Eligibility Criteria

To open a current account with HDFC Bank, the following entities are eligible:

1. Resident Individuals
   • Any Indian citizen residing in India.
   • Must meet the bank’s Know Your Customer (KYC) norms, including identity and address proof.
     
     
2. Hindu Undivided Family (HUF)
   • Must be represented by the Karta (head of the family).
   • Required documents include the HUF declaration, PAN card, and KYC documents of the Karta and co-parceners.
     
     
3. Sole Proprietorship Firms
   • Individuals operating a business under their name or a registered trade name.
   • Necessary documents include business registration proof, PAN, GST registration (if applicable), and KYC documents.
     
     
4. Partnership Firms
   • Must be a registered or unregistered partnership firm with a minimum of two partners.
   • Partnership deeds, PAN cards, and KYC documents of all partners are required.
     
     
5. Limited Liability Partnership (LLP) Firms
   • Registered LLPs are governed under the LLP Act, 2008.
   • Must provide an LLP agreement, PAN card, registration certificate, and KYC documents of designated partners.
     
     
6. Private and Public Limited Companies
   • Incorporated under the Companies Act, 2013.
   • Required documents include a Certificate of Incorporation, Memorandum & Articles of Association, PAN, board resolution, and KYC documents of directors.

Each category must comply with HDFC Bank’s KYC and regulatory requirements. Additional documents may be needed based on the type of business and banking needs.

Documents Required for Opening an HDFC Bank Current Account 

1. Sole Proprietorship Firm

To open a Current Account for a sole proprietorship firm, the following documents are required:

Category A: Government-Issued Documents (Any One Required)

• License or Registration Certificate issued in the name of the firm by:
  • Municipal authorities such as the Shop & Establishment Certificate / Trade License
  • Professional bodies (ICAI, ICMAI, ICSI)
  • Indian Medical Council
  • Food and Drug Control Authorities
    
    

Category B: Other Supporting Documents (Any One Required)

• Latest Profession Tax / GST Return (filed in the firm’s name and duly acknowledged)
• TAN Allotment Letter in the firm’s name or online TAN registration details
• Bank Account Statement of the firm’s account for the last six months
• Chartered / Cost Accountant Certificate (Annexure – G) confirming the firm’s existence

2. Limited Liability Partnership (LLP)

To open a Current Account for an LLP, the following documents are required:

• Incorporation Document and Limited Liability Partnership Agreement
• Certificate of Incorporation
• List of all existing Designated Partners with Designated Partner Identification Number (DPIN)
• A resolution was passed at the meeting of Designated Partners authorising the banking relationship
• KYC documents of Designated Partners/Authorized Signatories

3. Private and Public Limited Companies

Private Limited Companies

• Memorandum of Association (MOA)
• Articles of Association (AOA)
• Certificate of Incorporation
• Latest list of directors, duly signed by any Director/Company Secretary/Authorized Signatory
• Board Resolution (BR) duly signed by the directors of the company
• INC-21 and INC-20A, if applicable
  
  

Limited Companies

• Memorandum of Association (MOA)
• Articles of Association (AOA)
• Certificate of Incorporation
• Certificate of Commencement of Business
• Latest list of directors, duly signed by any Director/Company Secretary/Authorized Signatory
• Board Resolution (BR) duly signed by the Directors/Company Secretary
• INC-21 and INC-20A, if applicable

4. Current Account for Individuals

Yes, an individual can open a Current Account. The required documentation includes proof of identity and proof of address.

List of Acceptable Documents for Proof of Identity

• Passport (not expired)
• MAPIN card (issued by NSDL)
• PAN (Permanent Account Number) card
• Election / Voter’s card (subject to being accompanied by a self-signed cheque from a Nationalized/Private Sector/Foreign Bank)
• Photo ID card issued by:
  • Central Government or any of its Ministries
  • Statutory / Regulatory authorities
  • State Government or any of its Ministries
  • Public Sector Undertakings
  • Bar Council
  • Senior Citizen card issued by the State/Central Government
  • Persons of Indian Origin (PIO) card issued by the Government of India
  • Defence Department / Ministry of Defence for Defence personnel & their dependents
  • Public Financial Institutions / Public Sector Banks
• Permanent Driving License (not expired) (subject to being accompanied by a self-signed cheque from a Nationalized/Private Sector/Foreign Bank)
  
  

List of Acceptable Documents for Proof of Address

• Passport (not expired)
• Permanent Driving License (not expired)
• Election / Voter’s card issued by the Election Commission of India
• Proof of possession of Aadhaar / printout of e-Aadhaar (not older than 30 days) / eKYC (Biometric / OTP based)
• Job card issued by NREGA, duly signed by an officer of the State Government
• A letter issued by the National Population Register containing details of name & address

Regulatory Requirements for Non-Individual Entities

For all non-individual entities, additional documents may be required, including:

• Industry-specific regulatory documents
• CKYC annexures for compliance with banking regulations

How to open an HDFC Bank Current Account Online?

Step 1: Visit the official website of  HDFC Bank.

Step 2: After visiting the site, scroll down and in the navbar, you will see the  “SAVE” option. Hover your cursor on that, and on the left-hand side, you will see the “Account” section, under which you will see the “Current Account” section. Click on that.

Step 3: After clicking on that, you will see different types of current accounts provided by the HDFC Bank. Select a current account of your choice, and you will see the “Apply Online” button below that. Click on that.

Step 4: After clicking on that, you have to select an option for your application type. After clicking on that, you have to click on the “Proceed” button that will be prompted on the right-hand side.

Step 5: Fill out the application form correctly, and the bank will get in touch with you shortly.

How to open an HDFC Bank Current Account Offline?

Step 1: Visit the Nearest HDFC Bank Branch

Locate the nearest HDFC Bank branch and visit during working hours. You can check branch locations on the HDFC Bank website.

Step 2: Speak to a Bank Representative

Approach a customer service executive and request a Current Account opening form. They will guide you through the process and help you choose the appropriate type of Current Account based on your business requirements.

Step 3: Fill Out the Account Opening Form

Carefully fill in all the required details in the account opening form, including:

• Business Name (if applicable)
• Type of Business Entity (Sole Proprietorship, Partnership, LLP, Company, etc.)
• PAN Details
• Contact Information
  
  Step 4: Submit Required Documents

Provide the necessary KYC and business documents based on the type of entity, bank representative will verify your documents.

Step 5: Initial Deposit & Signature Verification

Deposit the minimum balance required as per the chosen Current Account variant. The bank may also take your signature for verification purposes.

Step 6: In-Person Verification & Processing

The bank may conduct an in-person verification at your registered business address if required. The submitted documents and application will be processed internally.

Step 7: Account Activation & Welcome Kit

Once approved, the bank will activate your Current Account. You will receive a welcome kit that includes:

• Account details
• Chequebook
• Debit card (if applicable)
• Internet banking details

Step 8: Set Up Internet & Mobile Banking

Activate online banking services to manage transactions efficiently. The bank will guide you through the process.

Additional Notes:

• Ensure all documents are self-attested before submission.
• Keep originals handy for verification.
• Processing time may vary based on the type of account and verification process.

HDFC Bank Current Account vs Competitor Bank’s Current Account

Conclusion

HDFC Bank offers a comprehensive range of Current Accounts tailored to the needs of individuals, sole proprietors, partnerships, LLPs, and companies. With a seamless account opening process available both online and offline, the bank ensures convenience and efficiency for its customers. The various account variants cater to different business requirements, providing secure online and mobile banking services, cash management solutions, and dedicated relationship managers for business support. 

FAQ’s

1. Who can open an HDFC Bank Current Account?
Individuals, sole proprietors, partnership firms, LLPs, private and public limited companies, and HUFs can open a Current Account by meeting the bank’s eligibility criteria.

2. What is the minimum balance requirement? 

The minimum balance varies depending on the type of Current Account. It typically ranges from ₹10,000 to ₹1,00,000 based on the account variant.

3. What documents are required for opening a Current Account?
KYC documents, business registration proof, PAN, GST details (if applicable), and a board resolution for companies are required. The exact list depends on the entity type.

Apply for Loans Fast and Hassle-Free

Apply Now

About the Author

LoansJagat Team

We are a team of writers, editors, and proofreaders with 15+ years of experience in the finance field. We are your personal finance gurus! But, we will explain everything in simplified language. Our aim is to make personal and business finance easier for you. While we help you upgrade your financial knowledge, why don't you read some of our blogs?