Arjun Kumar, a 38-year-old Bengaluru retail store owner, has been in business for almost 10 years. Even though his business is doing well, handling everyday operations has never been easy. Each month, Arjun manages:

Expense Type	Monthly Transactions	Amount (INR)
Customer Payments	300	₹15,00,000
Supplier Payments	50	₹12,00,000
Utility Bills & Rent	5	₹80,000
Cash Deposits & Withdrawals	40	₹7,00,000

Due to the frequent movement of funds, Arjun usually struggles to keep track of payments, deposits, and unexpected costs. "Is there a better way to manage my business's finances?"

This blog will follow Arjun's journey as he explores how a current account can improve cash flow, optimise everyday tasks, and ease his financial management.

Types of Ujjivan Bank Current Accounts

A wide variety of current accounts designed to meet different business needs are available from Ujjivan Small Finance Bank. A comparison table defining the key features of each account type can be found below:

Account Type	Minimum Initial Funding	Cash Deposit Limit	ATM Withdrawal Limit	Debit Card	Additional Features
Regular Current Account	₹5,000	Based on the average balance for the current or previous month, it is simple to apply across branches.	₹50,000 per day	RuPay Classic Debit Card	Ujjivan SFB ATMS offer unlimited free ATM transactions. There are no additional costs associated with transactions conducted outside of the home branch. Cash and cheques are available for pickup at your door.
Premium Current Account	₹10,000	Deposit up to ₹3,00,000 or 10 times the previous month's average balance.	₹1,00,000 per day	RuPay Classic Debit Card	Additional shopping and ATM withdrawal limits. Offer complementary digital statements.
Business Edge Current Account	₹25,000	Customisable with Flexi Next/Flexi	₹1,50,000 per day	RuPay Platinum Debit Card	Free RTGS and NEFT services are available via any channel. Get 150 free cheque leaves per quarter. Ujjivan SFB ATMS provide unlimited free ATM transactions.
Privilege Current Account	₹50,000	Customizable with Flexi Next/Flexi	Information not specified	Platinum Debit Card	Each quarter, you are entitled to 200 free cheque leaves. Net banking and SMS alerts for tracking the transaction
Maxima Current Account	₹1,00,000	Customizable with Flexi Next/Flexi	Information not specified	Select Debit Card	Designed to maximise business potential. Additional premium features.
Digital Current Account	Information not specified	Information not specified	Information not specified	RuPay Debit Card	The process of opening a digital account is simple. Unlimited free ATM transactions. Access to online and mobile banking services.

Each of these accounts is customised to the specific needs of the organisation, offering flexibility in cash deposits, greater transaction limits, and a variety of digital banking skills.

Read More – Ujjivan Net Banking - Comprehensive Guide to Online Banking Services

Key Features of Ujjivan Bank Current Account

These accounts are not only for individuals; they also play a significant role in generating income for businesses. Here is a brief review of current accounts:

Increased Transaction Limit

Current accounts, as the name suggests, are designed to handle many different transactions, such as deposits and withdrawals. This is especially useful for businesses that undertake large and frequent transactions, as it reduces the hurdles posed by limitations or transaction caps.

Cheque and Demand Draft Facilities

Businesses can use their current accounts to issue cheques and demand drafts, allowing them to pay suppliers, vendors, and other stakeholders more easily. This tool improves effective cash flow management and provides a dependable method for debt repayment.

Banking in several locations.

Current accounts typically allow banking across many locations, which is beneficial for firms operating in multiple regions. This service offers swift cash deposits and withdrawals from several locations, making financial management easier for geographically scattered businesses.

Convenience with Online Banking Current accounts

Online banking is convenient. Current accounts now offer solid online and mobile banking services, enabling businesses 24/7 access to their assets. This type of access enables real-time account balance checks, bill payments, and money transfers, all of which increase business efficiency.

Productive Business Processes

Current accounting is essential for ensuring that everyday business activities operate properly. The ability to process a large number of transactions without delay improves overall organisational efficiency and effectiveness.

Enhanced liquidity

Many current accounts allow for overdrafts, giving businesses immediate access to additional funds when needed. This function ensures liquidity and enables businesses to meet crucial financial needs without disruption.

Improved financial tracking.

Current accounts typically include detailed account statements and transaction records, allowing organizations to properly monitor cash flows. This accurate tracking allows for accurate financial reporting and informed decision-making.

Multichannel Access

Current accounts often include thorough account statements and transaction data, allowing businesses to accurately track cash flows. Accurate tracking enables accurate financial reporting and informed decision-making.

Customised Banking Solutions.

Many banks offer customised current account solutions for specific industries or business sizes. These customised accounts may have additional benefits like lower cost, personal relationship managers, or industry-specific services to meet the unique needs of completely different businesses.

Benefits of Ujjivan Bank Current Account

Ujjivan Small Finance Bank provides a wide range of current accounts designed to fulfill the various needs of organizations. The following is an overview of various accounts and their different perks.

Regular Current Account

Designed for simplicity and convenience, the Regular Current Account provides the following benefits:

Doorstep Banking: Provides cash and cheque pick-up services in a variety of cities through a third-party connection.
Ujjivan SFB provides unlimited free ATM transactions.
Access NEFT, RTGS, and IMPS services at a low cost.
Free monthly e-statements: Every month, you will receive electronic statements for no additional cost.
RuPay Classic Debit Card is free for individuals and businesses, with daily withdrawal limits of ₹50,000 at ATMS and ₹1,00,000 for shopping.
Cheque Leaves: Get 25 free cheque leaves each quarter. You can obtain 24/7 assistance with your banking needs.

Note:- Minimum Average Balance (MAB) requirement is ₹5,000 per month. Non-maintenance fees are ₹300 + GST per month.

Premium Current Account

The Premium Current Account is meant for businesses that want extra functionality.

Cash deposit limits are up to 10 times the previous month's MAB or ₹3,00,000, whichever is higher.
Increased ATM withdrawal and shopping limits to ₹1,000,000.
Receive 50 free cheque leaves each quarter.
Cash Withdrawals: Ujjivan SFB branches offer 50 free withdrawals each month.
Electronic Fund Transfers: NEFT, RTGS, and IMPS are all free.
RuPay Classic Debit Card offers six free non-Ujjivan ATM purchases each month.
POS Solutions: Offers Android POS terminals and mobile POS through third-party agreements.
Dedicated Customer Support: Available 24/7. 24/7

Note:- Minimum Average Balance Requirement: ₹10,000 per month. Non-maintenance incurs a fee of ₹500 plus GST monthly.

Privilege Current Account

The Privilege Current Account is designed to deliver premium banking experiences by offering:

Unlimited Cash Withdrawals: Cash withdrawals are not limited at any branch. Allows cash deposits of up to ₹2.5 crore each month.
Cheque Leaves: Provides 200 free cheque leaves per quarter.
The Platinum Debit Card offers access to two complimentary airport lounges throughout 30+ Indian airports, as well as a ₹10,00,000 personal accident cover.
Digital Banking is an online banking service that offers bulk payments, foreign transfers, and real-time account tracking.
Dedicated customer support is accessible 24/7.

Note:- Minimum Average Balance (MAB) Requirement: ₹50,000 per month.

Business Edge Current Account

This account caters to businesses requiring flexibility and additional services:

Free RTGS and NEFT transactions. Allows for simple fund transfers at no further expense.
Deposits can be up to 15 times the average balance between ₹1-5 lakhs, or 20 times for MAB equal to or greater than ₹5,00,000.
Every quarter, the RuPay Platinum Debit Card offers higher transaction limits as well as complimentary lounge access at 65+ domestic airports and 7+ train stations.
Offers 50 free cash withdrawals per month at Ujjivan SFB branches.
Cheque Leaves: Provides 150 free cheque leaves per quarter.
Ujjivan SFB ATMS provide limitless free transactions, but other banks provide just 10 free transactions per month.

Note:- Minimum Average Balance (MAB) Requirement: ₹25,000 per month.

Maxima Current Account

The Maxima Current Account is designed for businesses that want to optimise their banking potential:

Banking solutions can be customised to meet specific corporate needs.
Premium Banking Services: This includes HR payroll administration, increased ATM withdrawal and POS transaction limits, and transactions protected by dual layers of permission.
Bulk Payments: Efficiently manages large-scale transactions.

Each of these current accounts is designed to provide businesses with the tools and services they need to properly manage their financial operations, assuring convenience as well as efficiency.

Ujjivan Bank Current Account Charges & Fees

Ujjivan Small Finance Bank offers various current accounts tailored to meet diverse business needs. Below is a detailed comparison of charges and fees associated with each account:

Particulars	Regular Current Account	Premium Current Account	Business Edge Current Account	Privilege Current Account	Maxima Current Account
Minimum Average Balance (MAB)	₹5,000	₹10,000	₹25,000	₹50,000	Customizable
Non-Maintenance Charges	₹300 + GST per month	₹500 + GST per month	₹750 + GST per month	₹1,000 + GST per month	Customizable
Free Cash Deposit Limit	Up to ₹1.5 lakh per month	10 times MAB or ₹3,00,000	15-20 times MAB	Up to ₹2.5 crore per month	Customizable
Cash Deposit Charges Beyond Free Limit (Min ₹25)	₹4 per ₹1,000	₹4 per ₹1,000	₹4 per ₹1,000	₹4 per ₹1,000	Customizable
Free Cash Withdrawals at Branches	50 per month	50 per month	50 per month	Unlimited	Customizable
Cheque Leaves(per quarter)	25	50	150	200	Customizable
Debit Card Issuance Fee (1st Year)	RuPay Classic: Nil	RuPay Classic: Nil	RuPay Platinum: Nil	RuPay Platinum: Nil	Customizable
Debit Card Maintenance Fee (2nd Year onwards)	RuPay Classic: ₹125	RuPay Classic: ₹125	RuPay Platinum: ₹175	RuPay Platinum: ₹175	Customizable
ATM Transactions at Ujjivan ATMs	Unlimited free	Unlimited free	Unlimited free	Unlimited free	Customizable
ATM Transactions at Other Bank ATMs	5 free per month	6 free per month	10 free per month	10 free per month	Customizable
NEFT/RTGS/IMPS Outward Transactions	NEFT: ₹2.25 to ₹24.75 RTGS: ₹24.50 to ₹49.50 IMPS: ₹5 to ₹15	Free	Free	Free	Customizable
Inward NEFT/RTGS/IMPS Transactions	Free	Free	Free	Free	Customizable
Demand Draft (DD) Issuance	Up to ₹2,000: ₹75 ₹2,001 to ₹10,000: ₹100 Above ₹10,000: ₹3 per ₹1,000 or part thereof	First 5 per month or up to ₹25,00,000 free; (beyond that, standard charges apply)	First 5 per month or up to ₹25,00,000 free; (beyond that, standard charges apply)	First 5 per month or up to ₹50,00,000 free; (beyond that, standard charges apply)	Customizable
Cheque Return Charges (Insufficient Funds)	First 2 returns: ₹300 each From 3rd onwards: ₹750 each	First 2 returns: ₹300 each From 3rd onwards: ₹750 each	First 2 returns: ₹300 each From 3rd onwards: ₹750 each	First 2 returns: ₹300 each From 3rd onwards: ₹750 each	Customizable
Cheque Return Charges (Technical Reasons)	₹200 per instance	₹200 per instance	₹200 per instance	₹200 per instance	Customizable
Outward Clearing Cheque Return Charges	₹200 per instance	₹200 per instance	₹200 per instance	₹200 per instance	Customizable
PIN Generation Charges	First-time: Free Subsequent (Paper PIN): ₹75 Green PIN: Free	First-time: Free Subsequent (Paper PIN): ₹75 Green PIN: Free	First-time: Free Subsequent (Paper PIN): ₹75 Green PIN: Free	First-time: Free Subsequent (Paper PIN): ₹75 Green PIN: Free	Customizable
E-Statement	Free	Free	Free	Free	Customizable
Physical Statement	Monthly: ₹20 Quarterly: ₹25 Half-yearly: ₹30 Yearly: ₹35	Monthly: ₹20 Quarterly: ₹25 Half-yearly: ₹30 Yearly: ₹35	Monthly: ₹20 Quarterly: ₹25 Half-yearly: ₹30 Yearly: ₹35	Monthly: ₹20 Quarterly: ₹25 Half-yearly: ₹30 Yearly: ₹35	Customizable

Note: The Premium Current Account has a free cash deposit limit of 10 times the previous month's MAB or ₹3,00,000, whichever is higher.

Note: The Business Edge Current Account has a free cash deposit limit of 15 times the MAB for balances under ₹5,00,000 and 20 times the MAB for balances above ₹5,00,000.

Also Read - Ujjivan Small Finance Bank Minimum Balance – Fees, Rules & Tips

Ujjivan Bank Current Account Eligibility & Required Documents

Ujjivan Small Finance Bank offers a variety of current accounts tailored to different business entities. The eligibility criteria and required documents vary based on the type of entity. Below is a comprehensive overview:

1. Individual Current Account

Eligibility: Resident individuals aged 18 years or older.

Required Documents:

Document Type	Examples
Identity Proof	PAN Card, Aadhaar Card, Passport, Voter ID
Address Proof	Aadhaar Card, Passport, Utility Bills
Photographs	Recent passport-sized photographs

Note: The same document can serve as both identity and address proof if it contains both details.

2. Sole Proprietorship

Eligibility: Individuals operating under a sole proprietorship.

Required Documents:

Document Type	Examples
Business Proof	GST Registration Certificate, Trade License, Shop and Establishment Certificate
Identity Proof of Proprietor	PAN Card, Aadhaar Card
Address Proof	Aadhaar Card, Passport, Utility Bills
Photographs	Recent passport-sized photographs of the proprietor

3. Partnership Firm

Eligibility: Registered partnership firms.

Required Documents:

Document Type	Examples
Identity Proof of Partners	PAN Card, Aadhaar Card
Registration Certificate	Issued by the Registrar of Firms
Address Proof of Partners	Aadhaar Card, Passport, Utility Bills
Business Proof	GST Registration Certificate, Trade License
Partnership Deed	Certified copy of the partnership deed
Photographs	Recent passport-sized photographs

4. Limited Liability Partnership (LLP)

Eligibility: Registered LLPs.

Document Type	Examples
Identity Proof of Designated Partners	PAN Card, Aadhaar Card
Address Proof of Designated Partners	Aadhaar Card, Passport, Utility Bills
LLP Agreement	Certified copy of the LLP agreement
Incorporation Document	Certificate of Incorporation issued by the Registrar
Business Proof	GST Registration Certificate, Trade License
Photographs	Recent passport-sized photographs of designated partners

5. Private and Public Limited Companies

Eligibility: Incorporated companies under the Companies Act.

Required Documents:

Document Type	Examples
Identity Proof of Directors	PAN Card, Aadhaar Card
Address Proof of Directors	Aadhaar Card, Passport, Utility Bills
Certificate of Incorporation	Issued by the Registrar of Companies
Memorandum (MOA) and Articles of Association (AOA)	Certified copies
Board Resolution	Authorising account opening and signatories
Business Proof	GST Registration Certificate, Trade License
Photographs	Recent passport-sized photographs of authorised signatories

6. Hindu Undivided Family (HUF)

Eligibility: HUFS represented by the Karta.

Required Documents:

Document Type	Examples
Identity Proof of Karta	PAN Card, Aadhaar Card
Address Proof of Karta	Aadhaar Card, Passport, Utility Bills
HUF Declaration	Declaration by Karta and adult co-parceners
HUF PAN Card	PAN Card in the name of HUF
Photographs	Recent passport-sized photographs of the Karta

7. Trusts, Associations, Societies, Clubs

Eligibility: Registered entities under respective acts.

Required Documents:

Document Type	Examples
Address Proof of Trustees/Office Bearers	Aadhaar Card, Passport, Utility Bills
Identity Proof of Trustees/Office Bearers	PAN Card, Aadhaar Card
Resolution	Authorising account opening and signatories
PAN Card of Entity	PAN Card in the name of the entity
Registration Certificate	Issued by the relevant authority
Trust Deed/Constitution Document	Certified copy
Photographs	Recent passport-sized photographs of authorised signatories

8. Section 8/Section 25 Companies

Eligibility: Non-profit companies registered under Section 8/25 of the Companies Act.

Required Documents:

Document Type	Examples
Identity Proof of Directors	PAN Card, Aadhaar Card
Address Proof of Directors	Aadhaar Card, Passport, Utility Bills
PAN Card of the Company	PAN Card in the name of the company
Photographs	Recent passport-sized photographs of authorised signatories
Certificate of Incorporation	Issued by the Registrar of Companies
Memorandum and Articles of Association	Certified copies
License under Section 8/25	Issued by the relevant authority
Board Resolution	Authorising account opening and signatories

How to Open a Ujjivan Bank Current Account?

Ujjivan Small Finance Bank (SFB) allows you to open a current account online or in person. Here's a full comparison of the two processes:

Online Account Opening

Step	Description
1. Visit the Official Website	Navigate to Ujjivan SFB's official website. Now, click on Business > now check the list of Current accounts available.
2. Choose Account Type	Select the desired current account product (e.g., Regular, Premium, Business Edge).
3. Click 'Apply Now'	On the account's page, click the 'Apply Now' button.
4. Fill Application Form	Give the required information, including contact details, business details, and personal details.
5. Upload Documents	Submit all of the necessary documents, such as your Aadhaar card, PAN card, and proof of address
6. Complete Video KYC	Make sure your cell phone number is linked to Aadhaar for verification. Participate in a Video KYC process according to bank guidelines.
7. Initial Funding	Deposit the minimum initial payment amount shown for the designated account type.
8. Confirmation	After successful verification, you will receive account opening confirmation and account details.

2. Offline Account Opening

Step	Description
1. Branch Locator	Click on the link to find your nearest branch by filling in the required information.
2. Visit the Nearest Branch	Locate and visit the nearest Ujjivan SFB branch.
3. Consult Bank Representative	Discuss your needs and select the right current account for yourself.
4. Fill Physical Application Form	Fill out the account opening form provided by the bank employee.
5. Submit Documents	Provide photocopies and originals of all relevant documents for verification, including identity proof, address proof, and business registration documentation.
6. Initial Deposit	Make the minimum initial deposit necessary for your account type.
7. Verification Process	The bank will verify your documents and information.
8. Account Activation	After successful verification, the account will be activated and you will receive your account information and relevant items (cheque book, debit card, etc.).

Ujjivan Bank Current Account vs Competitor Banks

Comparing current accounts from several banks can help businesses choose the best option for their financial needs. The following is a comparison of Ujjivan Small Finance Bank's Regular Current Account to similar offers from other major banks.

Feature	Ujjivan Small Finance Bank	State Bank of India (SBI)	HDFC Bank	Axis Bank
Minimum Average Balance (MAB)	₹5,000 per month	₹5,000 per month	₹10,000 per quarter (Non-Metro)	- ₹7,500 per month (Semi-Urban/Rural) - ₹15,000 per month (Metro/Urban)
Non-Maintenance Charges	₹300 + GST per month	₹1,500 per quarter	₹1,500 per quarter	Not specified
Cash Deposit Limit	Flexible across branches	100 times MAB of the previous month Maximum ₹5,00,000 per month	Not specified	Free up to ₹1,00,000 per month
Cash Withdrawal Limit (Non-Home Branch)	No additional charges	Free up to ₹5,00,000 per day	Not specified	Not specified
NEFT/RTGS Transactions	Free	Free via Internet and Mobile Banking	Charges may apply beyond complimentary limits	Not specified
Cheque Leaves	Not specified	50 free multicity cheque leaves per month	Not specified	Unlimited
Debit Card	Not specified	Not specified	Not specified	Not specified
Additional Features	- 24/7 customer care -Higher ATM withdrawal limit of ₹50,000 per day	Access to over 22,000 branches Secure Internet Banking	Not specified	- Account opening within 24 hours - Instant account allocation within 20 minutes

Ujjivan Bank Current Accounts (FAQS)

Can I link my Ujjivan SFB current account to a third-party payment service?

Yes, Ujjivan SFB current accounts can be linked to multiple third-party payment platforms, allowing for easy commercial transactions.

Is there an option for overdraft protection on current accounts?

Yes, Ujjivan SFB provides overdraft facilities for current accounts, subject to eligibility and approval. This enables organizations to handle their short-term cash requirements effectively.

Can I make automatic payments from my current account to cover utilities and other recurrent expenses?

Yes, Ujjivan SFB enables automatic payments for regular expenses, resulting in timely payments and efficient cash flow management.

Is there a charge for cheque returns due to insufficient funds?

Yes, Cheque returns owing to insufficient cash may incur costs. It is best to keep the required balance to prevent such costs.

Does Ujjivan SFB offer merchant services to current account holders?

Yes, Ujjivan SFB provides merchant services such as point of sale (POS) terminals and QR code solutions to help businesses take payments seamlessly.

Is it possible for me to view my current account statements online?

Yes, Ujjivan SFB offers online access to account statements via its internet banking interface, allowing users to track transactions and manage the wallet more effectively.

Does Ujjivan SFB provide any cash management services for current account holders?

Yes, Ujjivan SFB offers cash management services, including pickup and delivery, to improve operational efficiency for enterprises.

Are there any customised current accounts available for specific industries?

Yes, Ujjivan SFB provides customised current account solutions for different industries, meeting their specific transactional needs and business requirements.

Is it possible to link accounting software with my existing account?

Yes, Ujjivan SFB integrates with major accounting software to ensure correct accounting.