Best Current Account for Small Business @ Low Minimum Balance
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*For deposits above 7 days. T&C apply. For detailed terms and conditions, please visit ActivMoney (Auto-Sweep) is a facility of automatically sweeping out funds above a pre-specified threshold from your Current Account to a Term Deposit (TD) Account for 180 days. In case of insufficient balance in the Current Account, the TD will be broken prematurely and the required amount will be transferred to the Current Account. Default Sweep Out and Sweep In for limit for an account variant are the minimum thresholds and one will not be able to opt for limits lower than these. Auto-Sweep out of funds above a pre-specified threshold from Current Account to Fixed Deposit will be for 180 days (For NRE accounts it will be for 1 year) and in multiples of Rs. 5,000/- The nomination registered for Current Account will apply for FDs created through ActivMoney. If the customer opts for ActivMoney in an account, standalone Fixed Deposits cannot be linked to that account. Terms and Conditions guiding the fixed deposit will be applicable to Fixed Deposits booked under ActivMoney. Bank may at its absolute discretion discontinue/suspend any of the services completely or partially with or without any notice to the customer. The rate mentioned is applicable for Fixed Deposits less than Rs. 2 Crores for a tenure of 180 days and is subject to change without prior notice. For ActivMoney (2 way sweep deposits), Regular Kotak Fixed Deposit rates will be applicable, basis the tenor of the deposit, for all customers including Senior Citizens/Bank Staff without any pre-payment penalty.

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Frequently Asked Questions


How can I open Neo Current Account?

Opening a Neo Current Account, a low minimum balance Current Account is a simple and straightforward process.

Through our user-friendly DIY journey, you can initiate Kotak Bank's Neo Current Account opening online. If you prefer personal assistance, our dedicated staff will always guide you. Simply click on 'Apply Now' and embark on your journey with a Neo Current Account.

Is current account mandatory for small business?

A Current Account for a small business is a fundamental necessity for managing cash flow effectively. It provides a streamlined way to handle transactions, making it an essential tool for thriving small businesses.

How does a small business open a current account?

Neo Current Account is best suited for small businesses.

To initiate the process, click 'Open Online' for a self-guided application. If you prefer assistance setting up your small business Current Account, click 'Apply Now'. Our dedicated team will guide you through opening your Neo Current Account.

What are the non-maintenance charges (NMC) applicable in NEO Current Account?

In Neo Current Account, Non-Maintenance Charges are ₹1,200 if the Average Quarterly Balance (AQB) is less than 50%.

If the AQB in Neo Current Account is ≥ 50% but < 100% of the required product AQB, the charges are Rs. 750. For more detailed information about Current Account charges, please click here.

How can I open Neo Current Account?

Yes, having a Current Account for Sole Proprietorship is highly beneficial.

It helps separate personal and business funds, which is crucial for effective financial management.

How do I open a current account for my firm?

Opening a Current Account for your business is a straightforward process.

To initiate the process, click 'Open Online' for a self-guided application. If you need assistance opening a Current Account, click 'Apply Now'. Our dedicated team will assist you.

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