Best banks for Current account in India

Current account, also known as financial account, is a type of account facility provided by all the banks in India to business men and registered companies. Unlike savings account, it has no limitation to the number of transactions and thus facilitating immediate access. The facilities provided by the bank are customized accordingly to aid the financial dealings. It allows payments of creditors by cheques. The greatest advantage related to current account is that it can issue overdraft to an agreed limit. Since all the banks, nationalized as well as private ones, provides current account, it may become a difficult task to choose a bank for opening your current account. Before we start with the Best banks for Current account in India check out MoneySavingWallet's explanation of how to Open a bank account online .

List of best banks for current account in India.


This commercial bank offers a wide range of current account keeping in mind the self-employed professionals, start ups, small businesses which have a turn over below 2 lakhs. It allows deposit up to 12 times of the Monthly Average Balance (MAB).

Some of the features of the current accounts in ICICI bank:

  • It provides zero minimum balance facility for the first 6 months. The Monthly Average Balance after 6 months becomes ₨ 250000.
  • It provides a platform to interact with venture capitalists and private equity player.
  • Free RTG and NEFT, chequebook facilities can be availed
  • It has a dedicated FOREX service and Advisory
  • It provides personalization of facilities along with free consultation.

Types of Current accounts available:

  • New Start Up account
  • Subhaarambh Account
  • Smart Business Account
  • Smart Business account- Gold
  • Roaming  Current Account- Premium, Gold, Classic and Standard


HDFC bank provides a variety of customized current accounts that suits the requirement of each individual customer. It offers the following types of current account options.

  • ULTIMA current account
  • Supreme current account
  • Apex Current account
  • Ezee Current account
  • Max Current account
  • Agri Current Account
  • Plus Current Account
  • Current Account for hospitals and nursing homes

Each type of account has its own facilities. However, here is a small synopsis of the special facilities provided to the current account holders of HDFC bank.

  • Free RTG and NEFT facility is provided
  • It has free cheque collection and payment services
  • One can avail to special FOREX rates
  • It has an advanced and most secured online platform for internet banking and mobile app excess to banking facilities.
  • It also provides add on services like digital marketing, co-working space and other advisory services.

3. Axis Bank

In Axis bank you can find the simplest yet varied classification of current bank accounts. It provides the greatest flexibility of transactions and a clear penned down instruction about each type of current account. Currents accounts in Axis bank are classified under the following names.

  • Normal Current Account
  • Local Current Account
  • Business Advantage Account
  • Business Select Account
  • Sweeps Current Account
  • Business Classic Account

The key features that can give an overview of the facilities that a current account holder in Axis bank may access to are as follows.

  • Axis banks put no constrain on managing the minimum average balance
  • 75 free transactions in a single month is allowed
  • The bank charges an Annual amount of ₨ 1999 which lessens if the MAB exceeds ₨50000.
  • One can get access to a wide network of ATMs all over India
  • It provides Axis eDGE rewards for various transactions and services.

4. Punjab National Bank

This is one of the nationalized banks that provide several facilities for the current account holders. There are only two types of Current bank Accounts. The features of each type of current bank accounts are discussed bellow.

  • PNB Smart Banking Account

This type of account has four tier facilities- PND gold, PNB silver, PNB platinum and PNB diamond to meet the differential demands of its customer. The minimum amount that is required to continue the sweep-in and sweep-out facility is  ₨ 1000000.

  • PNB current account

Just like every other current account, this account gives the facility of no limit to transactions providing greater flexibility of financial dealings. It has four tier facilities – PNB gold, PNB silver, PNB diamond and PNB platinum to meet the differential demands of the customer. It can even allow standing instructions to any transaction.

5. State Bank of India

State Bank of India has always been the most reliable choice for Indian over the decades. SBI provides a number of types of customised current accounts that fits the varied requirements of its clients. The names of the kinds of current accounts are as follows.

  • Normal Current Account
  • Unfixed Deposits
  • SME Power
  • Sahaj Current Account

The key benefits and facilities provided to SBI current account holder are as follow.

  • It has a Monthly Average Balance (MAB) as low as ₨10000.
  • It charges a very low amount for its account maintenance.
  • SBI provides unlimited number of payments and withdrawals in the wide network of branches spread all over India.
  •   Cash pick up  facility is an attractive feature provided by SBI
  • Free nomination Facility
  • It provides multicity cheque facility
  • The advanced internet banking facility provides fast, easy and secure way of transfer of money.
  • Fast and easy transfer of Account to any branch in India.

The overdraft facility is provided to the current account holder of every bank but the amount varies with respect to MAB and bank regulations.

India has a number of banks and a number of rules and regulations of each bank. It is no wonder that one may be confused with the every first decision that where he/she must open a current account. The above synopsis of benefits and features of some off the important banks is expected to help you in decision-making.

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