Best Bank to Open a Current Account for a Startup (Pvt Ltd) in India?

[rapidboxer]

Hey everyone,

We're setting up a Private Limited company and looking to open a current account for our startup. We’re aiming for something that’s startup-friendly — ideally with low monthly balance requirements, smooth digital experience, and good support.

Would love your suggestions on:

1. Which banks are best for startup current accounts?
   
   • Quick and easy setup (preferably online/digital KYC)
   • Low or zero monthly average balance (MAB)
   • Responsive customer service and relationship managers
   • Hidden charges to watch out for?
2. Any banks offering startup-specific benefits or partnerships worth checking out?

 

[Anupama_Jha]

SBI, best in class, less AMB requirements (5k) and minimal charges.

Online possible but GST and Udyam registration certificate mandatory.

 

[TECHXYZ]

Check out IndusInd Infotech account or BOB Startup Banking

 

[rafzy]

SBI, best in class, less AMB requirements (5k) and minimal charges.

Online possible but GST and Udyam registration certificate mandatory.

I agree. We deal with SBI for our current a/c and it's very smooth with no hiccups or hidden charges. Min bal req is 5K monthly. RM is good and values us. However dont expect buttering treatments you'd get from private banks RMs.
And good thing, SBI RMs never call you for quarter end funding or any of those BS.

 

[rapidboxer]

SBI, best in class, less AMB requirements (5k) and minimal charges.

Online possible but GST and Udyam registration certificate mandatory.

Both GST and Udyam needed?
Wont business incoroporation and Udyam be okay?
Dont want to do GST license right now

 

[Anupama_Jha]

Both GST and Udyam needed?
Wont business incoroporation and Udyam be okay?
Dont want to do GST license right now

Yupp in case of online opening. Without gst, branch can open.

 

[msureshuh]

I do not know present process But
1. In 2021, they did company office verification,
2. MAB is 10k
3. They need Director seal and Company seal
4. They asked incorporation letter,DIN,TAN, Company letter head, MOA, AOA,
5. More than 40 papers and all we have to sign.
6. If you fill in their website, they will send a person.
7. Look ICICI, IDFC
8. I think most banks call and send emails after our company got incorporated.
9. MCA leaks our information to banks and some supplier companies also.