Bandhan Bank Biz Standard Current Account
Bandhan Bank was established in December 2014. Despite being relatively new to the banking sector, the bank has established a strong customer base and offers its patrons a wide range of financial products and services. In this short time frame, Bandhan Bank has opened 937 bank branches all over the country and caters to the need of over 13 million customers.
The bank's mission is to provide its customers with simple and cost-effective financial solutions that are innovative and accessible. Its values are centred around ethical business practices that focus on the bank's responsibility towards its customers and stakeholders alike.
One of the many services that the bank offers its customers is the current account. A current account is a type of bank account that is commonly held by individuals who run businesses. This type of account provides account holders with high liquidity that is required for them to run their business operations. Current accounts come with high limits on the number of withdrawals and deposits made to the account. Additionally, certain customers also have the added benefit of the overdraft facility that allows account holders to withdraw funds above the balance that is available in their current account.
The Biz Standard Current Account is one variant of the current account that Bandhan Bank offers its customers. The following are the features and benefits of the account:
Features and benefits
- The monthly average balance to be maintained in the account is Rs.5,000.
- Account holders are charged a penalty fee of Rs.300 for non-maintenance of the monthly average balance.
- Account holders can make cash deposits upto Rs.5 lakh every month.
- The bank permits account holders to make unlimited cash withdrawal transactions against their account.
- Account holders can carry out 5 free IMPS, DD, RTGS and NEFT transactions every month.
- The bank provides account holders with 50 free cheque leaves on a monthly basis.
- Account holders can use the bank's internet banking facilities to carry out their financial transactions.
- The bank permits account holders to make 10 free cash withdrawal transactions from other bank ATMs.
- Account holders can avail the bank's at-par cheque book facility.
- Bandhan Bank provides its Biz Standard Current Account holders with a free debit card on opening their account. The annual maintenance charges for the account are waived for the first year.
- The bank issues account holders with free monthly email statements for transactions carried out against their account.
- Account holders also receive SMS alerts for transactions carried out against their account.
The Bandhan Bank Biz Standard Current Account is ideal for those individuals who are just starting off their business ventures. The account is designed to help small businesses grow faster. The Biz Standard Current Account provides account holders with the privilege of maintaining a low amount in terms of the minimum balance and caters to almost all of the account holder's banking needs. These factors in combination with the ease at which customers can access and operate their account, makes the Biz Standard Current Account ideal for new business ventures.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
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